Nigeria Floods Banks with Dollars
Hoping to shore-up the value of the Naira, the Central Bank of Nigeria (CBN) has flooded commercial banks with dollars.…
Dangote to Power $500m Cement Factory with Coal
Ronke Kehinde/ Dangote Cement Company in the southeastern town of Mtwara, Tanzania, is set to power the operations of the…
S/A Investor Backs Buhari’s Economic Plan, Raises Stake in Two Nigerian Banks
There is no doubt Nigeria’s struggling economy – with its overvalued naira, shortage of US dollars and inflationary pressures on…
UBA, Orange Partner on Innovative Payment Solution
Pan-African financial services group, United Bank for Africa Plc (UBA) and leading European and African telecom operator, Orange Group have…
Zenith Bank Spends $38m to Overhaul Core Banking Software
Ronke Kehinde/ Zenith Bank is standardizing its core banking software on Misys’ Fusionbanking Essence platform, Banking Technology has reported. Sources…
Oil Price Faces Further Decline as U.S. Plans Increased Shale Production
Nigeria’s efforts to exit an economic recession primary induced by lowering crude oil prices face a grim future as U.S.…
Facebook To Introduce Dislike Button
Facebook may soon introduce a “dislike” option to the already available reactions on its Messenger platform, TechCrunch has reported. The…
Time to Re-visit Unclaimed Dividends Bill
The National Institute for Legislative Studies (NILS) has called for the re-visitation of the Unclaimed Dividends Bill which was brought…
N377b Debt Crisis: Etisalat Begs 13 Banks
The Nigerian affiliate of Abu Dhabi-listed telecoms company, Etisalat, is in talks with 13 Nigerian banks to renegotiate the terms…
Mercedes to Recall One Million Vehicles Globally After 51 Fire Incidents
Daimler AG said it would recall one million newer-model Mercedes-Benz vehicles worldwide due to the risk of fire, after 51…