Economy
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NCC-CSIRT flags ‘HiddenAds’ malware that jeopardises users’ privacy
The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has flagged a new malware, HiddenAds, which has infiltrated Google Play Store that can impact device performance and jeopardize users’ privacy. In its advisory of August 8, 2022, NCC-CSIRT classified the virus, first identified by the McAfee Mobile Research Team, as high in probability and damage potential. The malware infiltrated…
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Buhari consents to Seplat Energy’s acquisition of Exxon Mobil shares
President Muhammadu Buhari has consented to the acquisition of Exxon Mobil shares in the United States of America by Seplat Energy Offshore Limited. This was contained in a statement by Special Adviser to the President on Media and Publicity, Femi Adesina. According to the statement, Buhari consented to the acquisition “in his capacity as Minister of Petroleum Resources, and in…
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Amukpe-Escravos pipeline becomes secure route for crude oil transport
Following the launch of the new Amukpe-Escravos Pipeline in Nigeria, oil companies operating in the oil-rich West African country now have a more secure route for transporting crude oil. The new crude oil transportation option will significantly minimise incidents of oil theft which has drastically affected the revenues of many oil companies. Business Insider Africa gathered that the new pipeline…
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Nigeria owes CBN $47bn, says Budget Office
Nigeria said it owes N20 trillion ($47 billion) to the Central Bank and the obligations are yet to be added to the country’s outstanding public debt, according to a report by the budget office. The debt figure is as of March 31, the budget office said in a document giving details of the country’s expenditure plans from 2023-2025 and posted…
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Ogun Assembly passes N100bn supplementary budget, allocates additional N70.94bn for capital projects
By Kolawole Olayinka, Abeokuta Ogun State House of Assembly has passed the year 2022 supplementary appropriation bill of N100.251billion into law. The approval increased the state’s capital expenditure by N70.94billion. The passage of the supplementary bill which has now increased the initial N350.7billion 2022 appropriation law to N450.98billion, followed the presentation of the report of the House Committee on Finance…
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SEC warns against unregistered investments crowdfunding platforms
The Securities and Exchange Commission (SEC) has again warned investors on the activities of unregistered investments crowdfunding platforms. Crowdfunding is the process of raising funds to finance a project or business from the public through an online platform. Crowdfunding portal is a website, portal, intermediary portal, application, or other similar module that facilitates interaction between fundraisers and the investing public…
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Dangote bags Nigerien national honour over his foundation’s Health Intervention
President/Chief Executive of Dangote Industries Limited, Aliko Dangote has been conferred with the Commander of the Order of Merit of Niger award by the President of the Republic of Niger, His Excellency Mohamed Bazoum in Niamey. According to the certificate of conferment presented to Dangote in Niamey, the nation’s capital, the award was in appreciation for his services rendered to…
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NGX applauds Lafarge Africa, calls on corporates to improve ESG reporting
Nigerian Exchange Limited (NGX) has applauded Lafarge Africa Plc for consistency in disclosing its sustainability performance to capital market stakeholders. This was conveyed during the Facts Behind the Sustainability Report (FBSR) presentation of Lafarge Africa hosted by NGX on Tuesday. In his opening remarks, Chief Executive Officer, NGX, Mr Temi Popoola applauded Lafarge Africa Plc for its consistency in leveraging…
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NDIC warns against patronising illegal fund managers
The Nigeria Deposit Insurance Corporation (NDIC) has warned the general public to desist from patronising illegal fund managers, stressing that the corporation only insured deposits of financial institutions licensed by the Central Bank of Nigeria (CBN). The Director, Communication & Public Affairs Department, NDIC, Bashir Nuhu in a statement on Tuesday stated that the corporation has noted a recent increase…
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Dangote Cement, Lafarge Africa, BUA Cement report N270.88bn profit in H1 2022
Three cement producing companies, Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc have announced N270.88billion profit in unaudited half year (H1) financial statements for the period ended June 30, 2022. This is 2.8 per cent increase from N263.35billion profit reported in H1 2021. The three companies surmounted pressure on the production cost of sales in the period, attributable…
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