MTN Nigeria is yet to file its application for an initial public offering (IPO), Nigeria’s securities regulator said on Sunday, a much-anticipated share listing that could value the business at around $5 billion and help revitalise the local stock market. The Securities and Exchange Commission’s (SEC’s) statement came after domestic media reported on Thursday that […]
Author: Isaac Umunna
Nigerian Freight forwarders get new governing council
A 15-member Governing Council was on Saturday in Lagos elected into the Council for the Regulation of Freight Forwarding of Nigeria (CRFFN). The News Agency of Nigeria (NAN) reports that the newly-elected CRFFN officials, drawn from five registered freight forwarding associations, would be joined by 17 government appointees into the council. The five registered associations […]
Facebook boss Zuckerberg now world’s third richest
Facebook CEO Mark Zuckerberg is now the third richest man in the world, overtaking Warren Buffett on Bloomberg’s list of the world’s richest people. Zuckerberg passed Buffett Friday as Facebook shares rose 2.4 percent, Bloomberg reported. The daily rankings of the world’s 500 richest people listed in the Bloomberg Billionaires Index showed the top 3 […]
Oil mixed as Saudi output rises, equities rebound
Oil was mixed on Friday as a Canadian supply outage supported U.S. crude prices, while an increase in production from OPEC’s biggest exporter Saudi Arabia pushed Brent lower. Crude oil is dispensed into a bottle in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration U.S. crude futures gained 86 cents, or 1.2 percent, to settle […]
NUPENG ready to partner govt to curb tanker accidents
Following the recent Otedola link bridge fire accident in Lagos, the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, yesterday, said it was prepared to partner Lagos State Government by complying with its directives on how to checkmate tanker related road accidents in the state. The Lagos Zonal Chairman of NUPENG, Tayo Aboyeji, told […]
Nigerian traders flee Anglophone Cameroon
Nigerian traders fleeing Cameroon. Above a street shut down in Kumba, Cameroon by secessionists, certainly bad for business The security crisis ravaging English-speaking regions of Cameroon is driving away many of the biggest traders originally from neighbouring Nigeria who have traditionally run key markets in towns around the regions, a report by Quartz Africa said. […]
Dangote Refinery sets 2020 for petrol, fertilizer export begins this year
The Dangote refinery plans to start selling petrol, diesel and aviation fuel by early 2020, but the fertiliser plant, will start producing urea this year, Edwin Devakumar, the group executive director told Bloomberg. The $10 billion refinery, set to be one of the world’s largest and which can process 650,000 barrels of crude a day, […]
Nigeria Banks Yet to Learn from Financial Crisis-Feature
Nearly ten years ago the Central Bank of Nigeria conducted a deep assessment of the country’s banks. The 2009 exercise exposed large-scale fraud committed by a number of CEOs. To save the banking system from collapse, the Central Bank took over a number of institutions and spent billions saving others. In addition, criminal charges were […]
Jurassic World: Fallen Kingdom’ crosses $1 billion worldwide
The fifth film in the “Jurassic” franchise hit $1 billion at the global box office, making it the thirty-fifth movie to reach that milestone. “Fallen Kingdom” joins its predecessor, 2015’s “Jurassic World,” which ended its theatrical run with $1.7 billion. In North America, “Fallen Kingdom” has pocketed $304.8 million and $700.7 million from international territories. […]
West Africa Crude-IOC issues fresh tender, outages support Nigerian grades
Offers for Nigerian crude were supported by local outages on two key grades as well as Libyan crude, which have taken over 800,000 barrels per day of light, sweet oil out of the market. However, spot trade was thin following a flurry of activity earlier in the week. NIGERIA * Offers for Bonny Light, Qua […]