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Saturday, May 21, 2022

Business

Shareholders Commend Orjiako As Seplat Energy Pledges Efficient Profitability

Seplat Energy Plc has pledged to its shareholders that it will use existing oil resources to develop the country's enormous gas reserves and accelerate the shift to cleaner, more efficient fuel for increased profitability. Furthermore, the shareholders praised the work...

Nigeria Capital Market Investors Lose N159.3 Billion

On Friday, investors on the Nigerian capital market lost N159.3 billion as the equity capitalization fell by 0.55 percent at the conclusion of business. The equities capitalization closed at N28.56 trillion after eight hours of trade on Friday, down from N28.72 trillion...

Canada To Prohibit Huawei, ZTE From Its 5G Network

Canada has announced that two of China's largest telecom equipment manufacturers will be prohibited from working on its 5G phone networks. The country's industry minister announced the restrictions against Huawei and ZTE on Thursday. According to François-Philippe Champagne, the move will...

EU Details Strategy To Increase Renewable Energy

The European Commission has detailed a strategy to increase the EU's renewable energy capacity and reduce its dependency on Russian fossil fuels, while also conceding that existing coal plants may have to be utilized for "longer than initially thought." On...

Nigeria Banking System Grows Assets By 15.6%

Despite the problems posed by the COVID-10 epidemic, the Nigerian banking system has remained resilient, growing total assets by 15.6 percent and profits by 6.8 percent in the first half of 2021. Aliyu Dikko, Chairman of the Board of Directors...

MTN, Airtel Commence PSB Operations In Nigeria

MTN Nigeria's Fintech subsidiary, MoMo Payment Service Bank(PSB) Limited, formally launched operations yesterday after receiving final clearance for a Payment Service Bank (PSB) license from the Central Bank of Nigeria (CBN). This comes after a successful pilot that began on May 16,...

Mashed Corpse Found On Lagos Int’l Airport Runway

The dismembered corpse of a man was discovered on Runway 18R of the Murtala Muhammed International Airport in Lagos on Thursday, causing a temporary shutdown and requiring international flights due to land to be diverted and turned back. Ethiopian Airlines...

Ukraine War May Spark Global Food Catastrophe For Years – UN

The UN has warned that Russia's invasion of Ukraine might spark a global food catastrophe that could last years. Food insecurity in poorer countries has grown as a result of the war, according to UN Secretary-General Antonio Guterres. If Ukraine's exports...

Gucci, Adidas Parasol’s Failure To Keep Out Rain Sparks Outrage In China

The failure to keep out the rain of a parasol set to be marketed in China by major western labels Gucci and Adidas for 11,100 yuan (£1,329) has sparked outrage. On the Chinese social media network Weibo, criticism of the...

Nigeria, Others Require Assistance To Combat Food Insecurity – IMF

The International Monetary Fund (IMF) warned on Wednesday that Nigeria and other African countries require significant international assistance to combat food insecurity. This was stated by Abebe Aemro Selassie, director of the IMF's Africa Department, at a virtual IMF advisory conference titled...
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