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Latest News U.S. bans Nigeria’s 2019 election riggers, imposes visa restrictions 8 men suffocate to death inside septic tank Ministerial list: Enugu APC rejects Onyeama’s re-appointment Man kills wife, commits suicide after getting divorce papers Troops kill 138 bandits in 2 months, rescue 50 victims No land for Ruga settlement in Edo, says Obaseki Pirates kill 2 soldiers in Bayelsa Gunmen abduct 18 traders El-Zakzaky: Be ready to kill all of us, Shi’ites tell Police Buhari’s ministerial list uninspiring, waste of time — PDP Bayelsa Government employs 904 additional workers N400m theft: Hand over GOC to EFCC, HURIWA charges Nigerian Army

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (512,044 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (432,208 views) Shameless Genevieve Nnaji exposes breasts in public (374,396 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (317,283 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (283,180 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (247,611 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (240,016 views) 10 cars more expensive than Jets (225,202 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (221,799 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (209,333 views) Lagos plane crash: Journalist releases victims’ names (188,851 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (187,428 views)

 

Renault, Coscharis form partnership to assemble, distribute Renault vehicles in Nigeria

Renault, Coscharis form partnership to assemble, distribute Renault vehicles in Nigeria French carmaker Renault and Nigerian conglomerate Coscharis Group have formed a partnership to assemble and distribute Renault vehicles in Nigeria, the companies said on Thursday. The Coscharis Group plant will start assembling Renault Logan and Renault Duster vehicles and will distribute the cars through their sales network throughout Nigeria from October....... more

Konga grows over 800 per cent, cuts losses

Konga grows over 800 per cent, cuts losses Nigeria’s leading composite e-commerce giant, Konga has achieved an increase in turnover by over 800 per cent after seeing a drastic reduction in losses over the past 18 months since its acquisition. Making the disclosure on behalf of the Konga Management was Co-CEO, Prince Nnamdi Ekeh, who spear-headed a major Corporate...... more

MTN delves into insurance business, eyes R270bn in three years

MTN delves into insurance business, eyes R270bn in three years Africa’s largest mobile operator, MTN, is eyeing R270bn in revenue in the next three years through a plan to offer life insurance products in partnership with Sanlam, the JSE’s biggest insurer by market capitalisation. The two listed companies said on Tuesday they will be working together to target people who do...... more

Airtel Africa debuts in Lagos in $4.4bn listing

Airtel Africa debuts in Lagos in $4.4bn listing Airtel Africa listed on the Nigerian Stock Exchange on Tuesday in a 1.36 trillion naira ($4.4 bln) flotation turning the telecoms company into the bourse’s third-largest stock by market value. Airtel Africa’s shares climbed 10% from their listing price of 363 naira after the float went live. Some 100,000 shares traded...... more

Fidelity Private Bank emerges Best Digital Networking Bank for Entrepreneurs, Africa

Fidelity Private Bank emerges Best Digital Networking Bank for Entrepreneurs, Africa Fidelity Bank won the ‘Best Digital Networking Bank For Entrepreneurs, Africa 2019’ at 2019 PWM Wealth Tech Awards held in London, United Kingdom (UK) recently. Organised by Professional Wealth Management (PWM), a Financial Times Publication, the awards celebrate excellence in wealth management technology. According to the organisers, technology and service delivery...... more

Ramaphosa eyes Silicon Valley in South Africa

Ramaphosa eyes Silicon Valley in South Africa President Cyril Ramaphosa believes there are trillions of rand waiting for SA to “grab” if it can keep pace with the digital revolution and create its own version of Silicon Valley, the San Francisco home to the world’s largest high-tech firms, including Apple and Facebook, as well as thousands of start-up...... more

Fourth Industrial Revolution summit opens in South Africa

Fourth Industrial Revolution summit opens in South Africa President Cyril Ramaphosa brought together public- and private-sector players on Friday at a summit in which he seeks to turn around the economic fortunes of SA, looking to digital technology to drive the country beyond its paltry 0.8% GDP growth rate. The Fourth Industrial Revolution (4IR) Digital Economy Summit 2019 officially...... more

Aiteo urges FG to curtail crude oil theft

Aiteo urges FG to curtail crude oil theft Aiteo Eastern Exploration and Production Company has called on the Federal Government to put up measures that will help curtail the menace of crude oil theft in the country. Mr Victor Okoronkwo, the Chief Executive Officer of the organisation, made this call at the ongoing Nigerian Oil and Gas conference and...... more

Corporate folk hero Lee Iacocca is dead

Corporate folk hero Lee Iacocca is dead  Lee Iacocca, the auto executive and master pitchman who put the Mustang in Ford’s lineup in the 1960s and became a corporate folk hero when he resurrected Chrysler 20 years later, has died in Bel Air, California. He was 94. Two former Chrysler executives who worked with him, Bud Liebler, the...... more

MultiChoice kick-starts mass retrenchment process

MultiChoice kick-starts mass retrenchment process Africa’s biggest pay-TV operator MultiChoice, on Friday, concluded the first meeting with stakeholders in an ongoing retrenchment process that could result in up to 2,194 employees losing their jobs as the company plans a restructuring of its customer service operations. The company says it was encouraged by the full attendance of...... more

Huawei’s place in the global tech ecosystem may make it too big to fail

Huawei’s place in the global tech ecosystem may make it too big to fail Huawei is a major, multinational company that does business with some of the most important technology and telecom businesses in the world. It’s also a central player in the push for 5G, the next generation of wireless networking. That kind of clout is going to make it really hard for the...... more

Christmas cancelled: Chinese factories hit by US trade war

Christmas cancelled: Chinese factories hit by US trade war “See all those machines?” Godfrey Chan, managing director of Max Fortune, points at a section of his factory, where row upon row of industrial printers sit in the dark. “They’ve been idle since the tariffs came in.” On the factory floor, stacks of glossy paper are being churned out and embossed...... more

Court declines to halt renewal of Aiteo’s OML 29 lease

Court declines to halt renewal of Aiteo’s OML 29 lease The Federal High Court sitting in Yenagoa on Monday declined an application to halt the renewal of Oil Mining Lease (OML) 29 to indigenous oil giant Aiteo pending the determination of a pending suit by Nembe communities in Bayelsa. The communities are seeking an environmental audit of the impact of the...... more

Nearly 2,200 jobs at risk at MultiChoice

Nearly 2,200 jobs at risk at MultiChoice Up to 2,194 MultiChoice employees are in danger of losing their jobs as the pay-TV operator plans a restructuring of the company’s customer service model. The company, with a subscriber base of more than 15 million, said on Friday that it would cut jobs at its call and walk-in centres, with...... more

Africa’s total merchandise trade stands at $997.9bn – Report

Africa’s total merchandise trade stands at $997.9bn – Report Nigeria and the rest of Africa’s total merchandise trade in 2018 have been estimated to be 997.9 billion dollars, retaining its number one position as the fastest growing regions in the world. Dr Hippolyte Fofack, African Export-Import Bank (Afreximbank’s) Chief Economist, said this was contained in the African Trade Report 2019...... more

Fayemi in Cote d’Ivoire for talks with AfDB

Fayemi in Cote d’Ivoire for talks with AfDB Ekiti State Governor, Dr Kayode Fayemi, has arrived Abidjan, capital of Cote d’Ivoire, to commence talks with the African Development Bank (AfDB). “Governor Fayemi and members of his technical team will be meeting the AfDB President, Dr Akinwunmi Adesina, today (Friday) to explore areas of support for Ekiti State, especially in...... more

BREAKING: Buhari appoints Kyari NNPC GMD

BREAKING: Buhari appoints Kyari NNPC GMD President Muhammadu Buhari has appointed Mr. Mele Kolo Kyari as the new Group Managing Director for the Nigerian National Petroleum Corporation (NNPC). Mr Kyari takes over from the incumbent, Dr. Maikanti Baru, with effect from July 7, 2019. NNPC disclosed Kyari's appointment in a statement released by the  NNPC Group General...... more

Airtel Africa sets price range for London IPO share

Airtel Africa sets price range for London IPO share Airtel Africa Ltd (IPO-AIRTA.L), a unit of India’s Bharti Airtel Ltd, on Monday set a price range of 80 to 100 pence per share for its planned initial public offering on the London Stock Exchange. The IPO is expected to raise 595 million pounds ($749.05 million) from the issuance of about...... more

Huawei pushes ahead with own operating system

Huawei pushes ahead with own operating system An executive of China’s Huawei, which has been banned from working with US tech firms, said on Thursday that the telecoms giant is in the process of potentially launching its “Hongmeng” operating system (OS) to replace the US Android OS. Andrew Williamson, vice-president of Huawei Technologies’ public affairs and communications, said...... more

Ramaphosa meets Reserve Bank board to discuss deputy governor vacancies

Ramaphosa meets Reserve Bank board to discuss deputy governor vacancies President Cyril Ramaphosa met with the board of the SA Reserve Bank on Friday, where vacancies at the Bank were discussed. Deputy governor Francois Groepe resigned in January 2019, but five months later his position has not been filled. Another deputy governor’s contract, that of Daniel Mminele, will conclude at the...... more

Illicit financial flows in SA now ‘more and more a national emergency’

Illicit financial flows in SA now ‘more and more a national emergency’ The government has been urged to focus on the mining sector and the digital economy to tackle illicit financial flows that are causing heavy revenue losses. . Cape Town-based nongovernmental organisation the Alternative Information and Development Centre (AIDC) says it appears that developing countries are paying a particularly high price. Every...... more

DPR inspires Uganda’s Petroleum Authority

DPR inspires Uganda’s Petroleum Authority An official of the Petroleum Authority of Uganda has commended the management of Department of Petroleum Resources (DPR)’s professional conducts in carryout its regulatory activities in the oil and gas industry. Mrs Betty Namubiru, Manager, National Content, Petroleum Authority of Uganda (PAU), gave the commendation in Lagos during their official visit...... more

SA Reserve Bank reveals how Guptas stole millions

SA Reserve Bank reveals how Guptas stole millions The state capture inquiry on Monday heard how the Gupta family allegedly used a letterbox company‚ Homix‚ to illicitly siphon millions of rand in kickbacks to other companies linked to them both in and outside SA. In his evidence before the commission‚ the Reserve Bank’s Elijah Mazibuko detailed a range of...... more

Shipping losses lowest this century, but incident numbers remain high — Allianz

Shipping losses lowest this century, but incident numbers remain high — Allianz Large shipping losses are now at their lowest level this century having declined by over 50% year on year, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2019. The annual study analyses reported shipping losses over 100 gross tons (GT). In 2018, 46 total losses of...... more

Facebook suspends app pre-installs on Huawei phones

Facebook suspends app pre-installs on Huawei phones Facebook Inc is no longer allowing pre-installation of its apps on Huawei phones, the latest blow for the Chinese tech giant as it struggles to keep its business afloat in the face of a U.S. ban on its purchase of American parts and software. Customers who already have Huawei phones will...... more

Shell eyes dividends, spending boost after 2020

Shell eyes dividends, spending boost after 2020 Royal Dutch Shell outlined plans, on Tuesday, to boost shareholder returns after 2020, while also increasing spending on oil, gas and power, as it capitalises on years of cost cutting to prepare for a lower carbon future. In a strategy update, the Anglo-Dutch energy company said it was on track to...... more

Force majeure declared as explosion shuts down output at Cameroon’s refinery

Force majeure declared as explosion shuts down output at Cameroon’s refinery Cameroon’s state oil refinery declared force majeure on Saturday, after a storage tank exploded overnight, causing a fire that shut down output at its main refinery in Limbe but caused no deaths. A letter to its partners seen by Reuters said the fire had “caused a production stoppage at all of...... more

Data share probe: Court says Facebook has case to answer

Data share probe: Court says Facebook has case to answer A U.S. judge on Friday denied Facebook Inc.’s request to dismiss a lawsuit by the Washington, D.C. attorney general over the social media giant’s improper sharing of 87 million users’ data with British political consulting firm Cambridge Analytica. The U.S. capital city sued Facebook in December, accusing it of misleading users...... more

SEC bans Oando CEO Wale Tinubu from being director of any public company for five years

SEC bans Oando CEO Wale Tinubu from being director of any public company for five years After over a year of forensic audit, the Securities and Exchange Commission (SEC) has concluded investigation of Oando Plc and barred the Group Chief Executive Officer, Mr Wale Tinubu , from being a director of a public company  for five years. In a statement signed by its Head of Corporate Communications, ...... more

How Samsung may benefit from Huawei’s plight

How Samsung may benefit from Huawei’s plight Samsung Electronics Co Ltd may have a chance to strengthen its position in the smartphone market due to the hurt caused to Huawei Technologies Co Ltd in the wake of U.S.-China trade tensions, according to Fitch Ratings. Tech companies, including Google and SoftBank Group-owned chip designer ARM, have said they will...... more

 

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