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US estimates £1.4 billion bill to remove Huawei, ZTE gear

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US rural telecommunications companies that rely on federal subsidies would have to spend at least $1.837 billion ($1.4bn) to remove and replace equipment from Huawei...
Business Insurance

POS, Mobile transactions volume hits four-year high in Nigeria

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File Photo Despite the negative impact of coronavirus (COVID-19) pandemic witnessed by business owners, along with households across Nigeria, fresh indications have emerged that financial...
Business

Oil prices hold near multi-week lows on demand worries

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Oil prices edged up on Thursday, but held near multi-week lows hit overnight after U.S. data showed gasoline demand fell and recovery from the COVID-19...
Business

IBEDC commences service reflective charge

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The Management of Ibadan Electricity Distribution Company (IBEDC) as part of efforts to deliver excellent service, has commenced the implementation of the Service Reflective Tariff...
Business

Lekoil seeks $100 million for Ogo oilfield drilling

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Nigerian energy company Lekoil Ltd needs to raise around $100 million before it can start drilling in its Ogo oilfield, its chief executive told Reuters....
Business

NSE strengthens investor protection, upgrades X-Whistle

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The Nigerian Stock Exchange (NSE) has announced the upgrade of its whistleblowing platform, X-Whistle. X-Whistle which was first launched in 2014, is a web-based whistleblowing...
News

TikTok chief Kevin Mayer quits after less than three months

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TikTok Chief Executive Officer Kevin Mayer has left the company, less than three months after he joined the hit short video app, and U.S. General...
Business

CBN bans banks, third parties from getting forex via Form M

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The Central Bank of Nigeria (CBN) has banned banks from opening Forms M (FOR IMPORTERS) “whose payments are routed through a buying company/agent or any...
Business

Nigeria: Power generation, transmission peak at all time high – TCN

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The electricity transmission company in the country has reported yet another improved all-time national peak of 5,420.30MW, which was effectively transmitted through the national grid...