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Company Report
BREAKING: Nigerian Breweries reports N144.34bn loss in 2024
Nigerian Breweries Plc on Friday announced its audited full year ended December 31, 2024, result and accounts with N144.34 billion loss from N105.8 billion loss declared in 2023. The multinational company also declared a loss before tax of N182.42 billion in 2024 from N144.69 billion in 2023. About N157.59 billion net loss on foreign exchange transactions impacted on the company’s…
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Economy
Trump’s tariff policy may reduce investment inflows to Nigeria, other countries in Africa, says SAMTL
Analysts at SAMTL research have said that President Donald Trump’s tariff policy may lead to reduced investment inflows to Nigeria and among other African economies. The firm added that the tariff may also lead to higher import costs, and volatility in commodity prices, among African economies SAMTL in a report titled, “the return of President Trump: implication for global economy…
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Crime & City Diary
Binance detention: Ginger Onwusibe, 2 other lawmakers demanded $150m bribe, Tigran Gambaryan alleges
The head of financial crime of crypto firm Binance, Tigran Gambaryan has alleged that Ginger Obinna Onwusibethree and two other Nigerian lawmakers demanded a $150 million bribe from him. He named other suspects on X as Peter Akpanke and Philip Agbese. Onwusibe heads the House of Representatives Committee on anti-corruption. Mr Agbese is the deputy spokesperson of the House. Gambaryan…
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Politics
No to global taxation, Jimoh Ibrahim advises UN global parliament in New York
The Senator representing Ondo South Senatorial District, Jimoh Ibrahim has informed the United Nations that proposing a global tax to fund the Sustainable Development Goals (SDGs) is inappropriate and unacceptable, as the international system is anarchic and lacks the authority to comply. He further asserts that there is no comprehensive international system in place. He made this statement during the…
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Business
Loan controversy: Onasanya appears in court to clear name
…It’s civil matter, loan fully paid, Otudeko’s lawyers tell court In a determined effort to prove his innocence and clear his name, Dr. Bisi Onasanya, the former Group Managing Director of First Bank, on Thursday appeared before Justice Chukwujekwu Aneke at the Federal High Court in Lagos. Onasanya, alongside former First Bank Chairman Oba Otudeko; a Director at Honeywell Group,…
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Company Report
Stock price of Dangote Cement appreciates by N1.36trn in one-week
The stock price of Dangote Cement Plc has appreciated by N1.36 trillion in one week and impacted on the overall market capitalization that crossed the N68 trillion on Thursday. On Thursday last week, the stock price of Dangote Cement that was trading at N394.00 per share has gained 20.3 per cent or N80.1 per share to close on Thursday at…
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Economy
2025 budget: National Assembly passes N54.9trn into law
The Senate and House of Representatives have passed the N54.9 trillion 2025 Appropriation Bill presented by President Bola Tinubu into law At the House of Representatives, the bill was passed after a clause-by-clause consideration by the Committee of the Whole on Thursday. It was presented earlier by the Chairman, House Committee on Appropriations, Rep. Abubakar Kabir Abubakar Bichi, at the…
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Business
CBN clears air on N100 not-on-us transaction charges
The Central Bank of Nigeria (CBN) on Thursday clarified the newly reviewed N100 charge on withdrawals at another bank’s ATM (Not-On-Us Transactions), stating that the fee applies whether or not the withdrawal amount is up to N20,000. CBN had announced a major revision to its Automated Teller Machine (ATM) transaction fees, effectively eliminating the three free monthly withdrawals previously granted…
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Perspectives
Open letter to Tinubu: auspicious time for N5000, N2000 notes to come into being, Kola Amzat
His Excellency, Asiwaju Bola TINUBU, (GCFR) President, Commander-in-Chief of Armed Forces, Federal Republic of Nigeria, Aso Villa, FCT, Abuja. Your Excellency, Open letter to Tinubu: auspicious time for N5000, N2000 notes to come into being Your Excellency, This is my third letter to Your Excellency on pressing national issues within the last 6 months and I hope it meets you…
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