Business

Airtel Networks Limited (Airtel Nigeria) has initiated a process to buyback 8.27 percent minority shareholdings at N55.81 per share, estimated at N61.24 billion. Buyback is a corporate action in which a company buys back (repurchase) its shares from the existing shareholders — usually at a price higher than the market …

Trading in the domestic stock market resumed on Monday bullish with a gain of 0.05 per cent on investors’ interest in Eterna and 22 others. Precisely, the benchmark index rose by 21.88 points or 0.05 per cent to close at 40,243.05 from 40,221.17 achieved on Thursday. Accordingly, month-to-date and year-to-date …

Globacom, the second-largest telecoms operator in Nigeria by subscriber number and market share, has signed a deal with Eutelsat of France for satellite deployment in the Nigerian market. The business deal, which was signed between the two companies at the Elysee Palace in Paris recently, was witnessed by the French …

The organisers of Gulder Ultimate Search have announced a collaboration with Air Peace and Innoson Vehicle Manufacturing for the 12th season. In a recent statement, Nigerian Breweries Plc, noted that the airline and automobile manufacturer join forces with Gulder Ultimate Search to reward the winner and contestants with exciting prizes. …

The crypto giant, Binance has banned Singapore Users from accessing its platform globally. The crypto firm stated that beginning October 26, Singapore users will be unable to perform any transactions on its platform, including spot trading, depositing, buying, or selling Cryptocurrencies. The company claims that its global service is continually …

Ngozi Okonjo-Iweala, the leader of the World Trade Organization, began the year with a plan to score quick negotiating victories that she said would help reboot the dysfunctional Geneva-based trade body. Now, seven months into her 4 1/2-year term, Okonjo-Iweala has fully grasped the frustrating reality of the WTO’s historical …

The Central Bank of Nigeria on Thursday announced the postponement of the planned unveiling of the digital currency, e-Naira. The launch was initially scheduled for October 1, but was postponed due to other activities lined up to commemorate the country’s 61st Independence Anniversary. The apex bank’s Director of Communications, Osita …

The 2021 Annual Statistical Bulletin of the Organisation of Petroleum Exporting Countries (OPEC) released on Wednesday showed a drop of 543 million barrels in the crude oil reserves of Nigeria. Figures on world oil reserves by country as contained in the bulletin indicated that Nigeria’s oil reserves dropped from 37.45 …

Chairman of the United Bank for Africa, Tony Elumelu, has offered to make an engineering student, Emmanuel Nduka, a part of his upcoming mentorship session. Emmanuel achieved sudden fame on the business and employment-oriented online service, LinkedIn, when he wrote a brief bio, stating his life’s journey so far. Taking …

The Annual State Viability Index (ASVI) published by Economic Confidential has revealed some Nigerian states that can survive without the monthly federal allocations. According to The Cable, the ASVI measured the viability index of states using each state’s Internally Generated Revenue (IGR) as a percentage of its federal accounts allocation …