Tag Archives: Business

Barring any unforeseen development, the managing director of Guaranty Trust Bank, Miriam Olusanya will, from next week, be subjected to trial for contempt of court for allegedly blocking a customer’s account domiciled in the bank’s Apata, Ibadan branch with an order purportedly obtained from a magistrates’ court in Kano state. …

BEIJING (Reuters) – China’s Ministry of Industry and Information Technology (MIIT)said on Monday that it will form a working group to establish standards for the metaverse sector as Beijing seeks to be a global standards-setter for new technology. The ministry released a draft proposal to form a working group for …

Ford (F.N) reached a last-minute deal to avoid a walkout at its Canadian operations late on Tuesday, as the United Auto Workers union prepared for a potential expansion of its U.S. strikes against the Detroit Three automakers. Unifor, which represents about 5,600 Canadian auto workers, were threatening to go on …

Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to put the continent’s diversity and rich culinary traditions on the centre-stage with the highly anticipated ‘Tastes of Africa Food Festival, reports Freelanews. The UBA Tastes of Africa Food Festival is a vibrant celebration of the continent’s cuisine, culture, …

Freelanews reports that Guinness Nigeria Plc, along with three others, has been ordered by the National Industrial Court in Port Harcourt to pay N52.456 million in damages to an aggrieved former employee who was wrongfully terminated from his Sales Executive position in 2019. The former staff, Bright Nwosu who was …

Crude oil moved closer to $95 per barrel on Monday as expectations of a supply deficit stemming from extended output cuts by Saudi Arabia and Russia overshadowed concerns about demand. Data obtained from the market yesterday showed that Brent crude appreciated by 76 cents to sell at $94.70 a barrel, …

Metaverse Face achieves a low risk analysis based on InvestorsObserver research. The proprietary system gauges how much a token can be manipulated by analyzing much money it took to shift its price over the last 24 hour period along with analysis of recent changes in volume and market cap. The …

The World Bank has warned that with the level at which Nigeria government, both federal and states are spending on capital projects, it may take the country 300 years to close the wide infrastructure gap. The World Bank Country Director for Nigeria, Shubham Chaudhuri, during his keynote address at the …

Africa’s richest man and the chairman of Dangote Group, Aliko Dangote has suffered a whopping $135m (N106bn) loss in his net worth. Dangote’s net worth fell by 1.15 per cent on Thursday to $11.6bn (N9.1trn). Data gathered by Freelanews showed that on Thursday, the billionaire lost his position to become …

President Bola Tinubu on Wednesday commended Indian investors for significant investment pledges amounting to nearly $14 billion committed during the Nigeria-India Presidential Roundtable and Conference in New Delhi, India, saying, “we are ready to give you the best returns for investment possible, there’s nowhere else like our country. Nigeria offers …

After issuing several notices, the Oyo State Government has sealed Access bank, Heritage bank and other financial institutions as well as telecommunications facilities across Ibadan, the state capital, over non-payment of Land Use Charge. They were sealed by the government through its Enforcement team from the Ministry of Lands, Housing …

In recent developments, the booming Metaverse market is exhibiting signs of cooling off as it experiences a notable price dip across various digital assets and virtual real estate properties. Once hailed as the ‘Next Frontier’ in technological evolution and a lucrative investment opportunity, the Metaverse is currently navigating through turbulent …

President Bola Tinubu will lead 38 businessmen and industry leaders to attend the Nigeria-India Presidential roundtable and conference in New Delhi, India. The event, which is organised by the Nigerian High Commission in India in collaboration with the Confederation of Indian Industry (CII) and the Nigeria-India Business Council (NIBC), is …

The Abuja Chamber of Commerce and Industry (ACCI) has announced a strategic partnership with Turkish investors operating under the banner of Turquaz Health Tourism, with the ambitious goal of generating one million jobs in Nigeria. This partnership is set to yield collaborations between Turkish investors and Nigerian businesses in various …

In an interesting turn of events, Tingo Group, Inc., a successful fintech, has finally been vindicated over scathing reports by Hindenburg Report some weeks back and an unsuccessful attempt by some unscrupulous journalists to blackmail and extort its executives by spreading fake news in the media. Not only that, the …

Africa’s Global Bank, United Bank for Africa (UBA) Plc is proud to announce its highly anticipated “Back2School” package, designed to provide exclusive discounts and benefits for both children and their parents. As the new school session kicks off, UBA continues to fulfil its commitment to fostering a seamless educational journey …

Dolidol is Africa’s leading brand of mattresses, foam and bedding products. The company manufactures the best-known mattress brands, including Kinédorsal, Windsor, Prince, and Maria, and is the exclusive licensed manufacturer of the American brand Therapedic in Morrocco. The industry champion is making a giant stride in its expansion bid to …

As the summer break winds down, leading financial institution, Fidelity Bank Plc, has emphasised its devotion to help schools prepare adequately for the next session and deliver quality education. Through its bespoke product known as the Fidelity Edu Loan, administrators of registered private primary, secondary and tertiary institutions in Nigeria …

The Nigerian Exchange (NGX) Limited had a mixture of lime and honey last week as a result of investors’ reactions to economic data, especially the unemployment rate, gross domestic product (GDP), and the foreign exchange (FX) market. Amid the roller coaster, the All-Share Index (ASI) and the market capitalisation managed …

The superiority battle between Oba Otudeko and Femi Otedola has seen shareholders of First Bank losing over N80.76 billion in the past week. It was independently revealed that First Bank shares have been on a downward trajectory with shareholders losing billions since the battle for control of the one-time troubled …