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Business
Coke loses $4b as Ronaldo replaces products during press conference

Coke loses $4b as Ronaldo replaces products during press conference

Any gesture of Cristiano Ronaldo has a huge impact on a product’s brand value and apparently, his coke and water gesture in a press conference perhaps did not fail in that regard. This Monday, at…

Business
Oil starts new week reaching new high at $73

Oil starts new week reaching new high at $73

Oil prices started the week hitting their highest levels in more than two years on the back of economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent…

Business
FG in talks with London bank for funding of two critical rail lines

FG in talks with London bank for funding of two critical rail lines

The Federal Government has approached a London, Standard Chartered Bank Plc, to fund two rail line projects. If the talks yield fruits, the two projects are expected to cost about $14.4 billion and that the…

Business
We’ve no plan to nationalize Unity Bank, says CBN

We’ve no plan to nationalize Unity Bank, says CBN

The Central Bank of Nigeria (CBN) has refuted allegations that it plans to nationalise Unity Bank Plc. The apex bank dismissed the report, which was published by some online media firms, as fake news. This…

Business
Digital currency coming, says CBN

Digital currency coming, says CBN

The Central Bank of Nigeria (CBN) plans to introduce digital currency before the end of the year, its Director Information Technology, Rakiya Mohammed, said on Thursday. Speaking at the end of 306th Bankers’ Committee Meeting,…

Business
El Salvador officially passes Bitcoin as a legal tender

El Salvador officially passes Bitcoin as a legal tender

Today, the El Salvadoran Legislature voted to pass Bitcoin as a legal tender. The vote was won by a supermajority of 62 out of 84 votes of the El Salvadoran legislature who voted in favour…

Business
Buhari receives first made-in-Nigeria cell phone

Buhari receives first made-in-Nigeria cell phone

President Muhammadu Buhari has taken delivery of the first ever Nigeria-made cellphone called ITF Mobile. The product was presented to him by Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, just before commencement of…

Business
Naira falls at official window as banks receive a boost in forex liquidity

Naira falls at official window as banks receive a boost in forex liquidity

The exchange rate between the naira and the US dollar closed at N411.07/$1 at the official Investors and Exporters window. Naira depreciated against the US dollar on Monday to close at N411.07 to a dollar,…

Business
FG says process for repair of Port Harcourt refinery begins

FG says process for repair of Port Harcourt refinery begins

The Minister of State for Petroleum, Mr. Timipre Sylva has disclosed that the Federal Government has agreed to the $1.5 billion rehabilitation of the Port Harcourt refinery. The move forms part of efforts to prevent…

Business
Low oil demand from China drives oil to second day losing streak

Low oil demand from China drives oil to second day losing streak

Oil prices extended their losses today over concerns about the fragile state of the global recovery in demand for crude and fuel which were heightened by data showing China’s oil imports declining in May. Bob…