Elon Musk Now World’s Richest Man; Nigeria’s Aliko Dangote Africa’s Wealthiest

File photograph of Mr Elon Musk making a presentation Elon Musk, Tesla Chief Executive Officer, has displaced AMAZON’s chief executive, Jeff Bezos, as the world’s richest person. Nigeria’s Aliko Dangote maintained his spot as Africa’s richest man. Despite his recent dating scandal nonetheless, Dangote remains Africa’s richest man and the richest black man in the world for nine years in a row, with a net worth of more than $10 billion. Musk, 49, overtook Bill Gates in November 2020, to become the second-richest person in the world. The news comes…

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Nigeria Economy To Suffer If AMCON’s N4.4trillion Current Exposure Is Not Recovered

L-R: Mr Usman Abubakar Head, General Enforcement, Asset Management Corporation of Nigeria (AMCON); Mr Emmanuel Gakko, Hon. Chief Registrar of the Federal High Court; Mr Aminu Ismail, Executive Director of Operations, AMCON; Hon. Justice Nkeonye Evelyn Maha of the Federal High Court; Mr Joshua Ikioda, Group Head, AMCON Enforcement and Mr Albert Nwanozie, Head, Legal Department, AMCON at the second and closing day of the two-day training for FHC Legal Assistants and Court Registrars in Abuja The Management of Asset Management Corporation of Nigeria (AMCON) has raised a New Year…

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Adamawa, Cross River, Nasarawa Communities Receive Palliatives From DBN

File photograph of Mr Tony Okpanachi, Managing Director of DBN Development Bank of Nigeria (DBN) as part of its Corporate Social Responsibility (CSR) initiative has donated relief materials to economically challenged individuals, including widows in rural communities of Keana, Madagalli and Bakassi in Nasarawa, Adamawa and Cross River States respectively. This initiative the bank explained is designed to alleviate the challenges faced by the affected communities. Tony Okpanachi, Managing Director of DBN  said that the posture of the bank, which is anchored on giving back to the society in which…

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Vaccines, OPEC Output Increase, Oil Price Stability Raise Hope For Nigeria

As Nigeria’s oil and gas industry entered the new year with huge losses and sundry challenges due to the dreaded coronavirus (COVID-19) pandemic-led shocks on the sector, some industry experts have said the sector has a brighter chance of recovery from its losses, which will in turn impact positively on the Nigerian economy in 2021. The Nigerian economy has been thoroughly humbled under severe challenges occasioned by the dawn of the virus, border closure, the #ENDSARS protests that turned bloody after it was highjacked by hoodlums amongst other problems. The…

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Experts Outline Path To Economic Recovery, Growth In 2021

The government to open up the economy through privatisation, commercialisation and outright sales of its moribund assets to facilitate the private sector to take charge of the country’s economy. This was the task financial and economic experts have outlined for the federal government. They want the government to look inward in its resource mobilisation activities in the new financial year 2021. Some industry experts have also predicted a brighter prospect for the oil and gas in the new year, saying the sector has a brighter chance of recovery from its…

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Nneka, The New CEO Of Fidelity Bank Plc Assumes Office

File photograph of Mrs. Nneka Onyeali-Ikpe, the new Fidelity Bank CEO Finally, Mrs Nneka Onyeali-Ikpe, the new Managing Director/CEO of Fidelity Bank Plc, whose tenure formally commenced on January 1, 2021, has assumed office. She became the 4th Chief Executive Officer of the bank and the first female CEO to occupy the position since the inception of the bank in 1988. Onyeali-Ikpe took over from Mr Nnamdi Okonkwo who retired on December 31, 2020, after completing his contract tenure in line with the bank’s governance policy. Fidelity Bank in an…

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Nigeria Federal Government To Boost Domestic Gas Usage By Q1 2021

The federal government said it has intensified efforts to ensure that Nigeria achieves self-sufficiency in the domestic production and utilisation of its gas resources by the first quarter of 2021. The government said that currently, Nigeria’s production capacity is insufficient to satisfy local demand, especially for major industries like the Dangote Cement factory, which requires huge gas supplies to sustain its operations. Speaking when he visited the Director General of the Voice of Nigeria (VON), Mr Osita Okechukwu in Abuja on Tuesday, the Group Managing Director (GMD), Nigerian National Petroleum…

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Polaris Bank Explains The Benefits Of Its ‘Salary Advance’ Product

With the whole world including Nigerian already in festive mode with the Christmas and New Year around the corner, Polaris Bank has underscored the benefits of its Salary Advance product, which shoppers could take advantage of this season. In a statement the bank explained that the product is available to both existing account holders and non-account holders. It said, “Salary Advance is a small, short-term unsecured loan that relies on the borrower having previous payroll and employment records. A beneficiary is required to repay out of their next pay cheque…

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AMCON Can’t Recover Mandate Without ‘Complementary Radical Powers’ – Justice Tsoho

L-R: Honourable Justice Binta F.M. Nyako of the Federal High Court; Mr Ahmed Lawan Kuru, Managing Director/Chief Executive Officer, AMCON; Honourable Chief Judge of the Federal High Court, Justice John Terhemba Tsoho and Honourable Justice A. M. Liman also of the Federal High Court at the end of the interactive session…in Abuja The Honourable Chief Judge of the Federal High Court, Justice John Terhemba Tsoho has declared that although Nigerian banks were restructured prior to the financial crisis through consolidation, the restructuring was not able to shield Deposit Money Banks…

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CBN May Sanction Operators Paying Recipients Of Diaspora Funds In Local Currency

The Central Bank of Nigeria (CBN) is threatening operators against paying recipients of diaspora remittances in local currency warning that violators could lose their operational licences if they failed to comply with its guidelines on remittances. The CBN in a circular to International Money Transfer Operators and Payment Service Providers titled, ‘Receipt of diaspora remittances: Additional operational guidelines’ on Wednesday said, “All licensed institutions are required to comply with the foregoing guidelines as contraventions will attract stiff regulatory sanction including revocation of licence,” the circular stated. The circular was signed…

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