Archives for Business
Banking stocks record biggest fall since 2016
In a continuing negative reaction to President Muhammadu Buhari’s re-election, banking stocks recorded its biggest fall since 2016. Since Wednesday when the Independent National Electoral Commission (INEC) announced the results…
SEC arraigns firm, boss over alleged illegal sale of N58m NB, Guinness shares
The Securities and Exchange Commission (SEC) has said that the Managing Director (MD) of Brentonwoods Limited, Samuel Adebanjo and his company have been charged before Justice Muslim Hassan of the…
Presidential poll result: NSE loses N85bn in six hours
The market capitalisation of the Nigerian Stock Exchange (NSE) shed N85 billion in what traders have attributed to profit taking in reaction to the results of the presidential poll. The…
Dangote emerges 64th richest man in the world
Billionaire businessman, Alhaji Aliko Dangote, has significantly moved up in the world billionaires’ list, as he emerged 64th richest person in the world. Bloomberg, in its annual list of wealthiest…
StanChart introduces more digitally-led retail banks
Standard Chartered has announced that it had completed a simultaneous multi-market launch of its digitally-led retail banks in Tanzania and Ghana, with Kenya’s roll out scheduled to occur shortly. This…
TCN upgrades Alaoji Transmission Substation
The electricity transmission capacity of the Alaoji transmission substation of the Transmission Company of Nigeria (TCN), has been upgraded to 750 megavolt amp (MVA) from 450MVA, making it the biggest…
Samsung celebrates 10 years of innovation
Samsung has celebrated a decade since the launch of the first Galaxy S. This is just as the global company introduced a new line of premium smartphones: Galaxy S10. With…
FIRS generates N23bn by ‘freezing’ accounts of 3,000 tax defaulters
The Federal Inland Revenue Service (FIRS) says it generated over N23 billion in unpaid taxes from the recently suspended restriction on the corporate bank accounts of tax defaulters. Babatunde Fowler,…
Lafarge, Fidson to get three-year tax holiday
Lafarge Cement Plc and Fidson Healthcare Plc are part of the nine companies that will three years tax holiday from the payment of company income tax. This is because these…
BoI disburses second loan to Tradermoni beneficiaries
The Bank of Industry (BoI) has begun to disburse loans of N15,000 to Tradermoni beneficiaries who have repaid their first N10,000 loan. In a statement released on Thursday, the bank…