Seawave Invest Ltd says it is open to investigation over Lekoil’s loan scam 

Days after the validity of Lekoil Ltd's $184 million loan became questionable, the company that brokered the deal said it is open to investigation. 
Siemens signs €250m electricity deal with Ghana 

Siemens signs €250m electricity deal with Ghana 

Siemens has sealed a deal with the Republic of Ghana to upgrade the nation’s electricity grid using €250 million of financing from Germany.
Tesla Inc: Elon Musk nears $346 million paycheck

Tesla Inc: Elon Musk nears $346 million paycheck

Elon Musk, the Chief Executive of Tesla Inc is closer to receiving the first $346 million tranche of options in a record-breaking pay package.
Nigeria Customs Service shuts 272 car marts over smuggled car sales , Automobile dealers, Customs at loggerheads over vehicle smuggling, import duty , January 2020 is no terminal date; Borders will remain shut after then - Customs , FG bans fuel supply to border petrol stations, order threatens businesses, jobs, Ban on fuel distribution to border filling station begins to affect network providers , Nigeria Customs Service wants FG to impose this tax on petrol importers , Experts lament rising inflation over border closure, Closure of border petrol stations lowers fuel consumption by 30% - Customs Boss , Customs redeploys officers in charge of anti-smuggling at border , Nigerian customs records N1.3tr revenue in 2019, exceeds target by N404bn , Customs denies spending N1.6 billion on recruitment exercise alone, Customs officers must declare their assets annually – Customs boss 

Customs denies spending N1.6 billion on recruitment exercise alone

The Nigeria Customs Service (NCS) has denied the claim of Ade Fadahunsi that it paid a consultant N1.6 billion to conduct recruitment exercise.
FCMB, NSE, Nigerian stocks, Nigerian stock exchange, Presco, Cadbury, UACN led top gainers' chart as ASI gains 0.51%, Guinness, UBA, Access, two others led top gainers on Monday , Access, Zenith and GT Bank traded N3.42 billion shares on Tuesday , Ikeja Hotel, Cadbury, Union Bank top gainers’ chart on Wednesday , Nigeria Breweries, Unilever, Unilever lead gainers chart on Friday , Stock Market dipped N197.35 billion Equity value on Monday , Bulls return to the NSE as market cap hits N13 trillion mark, FCMB, Cornerstone Insurance lead gainers as bourse gain N94.2 billion , Law Union, Lafarge, Unity Bank lead gainers on Tuesday, GTBank, Transcorp, Zenith lead active trades on Friday 

NSE records first loss in 2020, as ASI dip 1.18% 

The stock market traded bearishly on Tuesday for the first time this year, having dipped 1.18% of the All-Share index,
National electricity grid collapses again, as NUEE suspends strike action , FG to increase electricity tariffs in order to improve power supply, Power: Liquidity crisis-same old story in 2020?, GenCos urges NBET to pay up N1 trillion debt, Electricity Tariff: FG, electricity stakeholders to work on equitable rate 

GenCos urge NBET to pay up N1 trillion debt 

The Nigerian Bulk Electricity Trading Plc (NBET) is reportedly owing Power Generation Companies (GenCos) in the country about N1 trillion debt.
BHH, Podcast, WAVE, entrepreneurs, business, Nigerian, concept, business, ethics, Goal, Setting, Actualization, Greymate Care, Chika Madubuko,, business ethics Femi Adeyemo, BHH Podcast, Fundall, Swift Medispark, Ugo Nwokoro, technology in healthcare, EazyHire, Data Science, Yvonne Alozie, Gitgirl, Verifi, CAMA and taxes for SMEs, Tayo Lekan-Agbaje, Dclutterng, Business half hour, BHH Podcast, Oluyomi Ojo, Taiwo Obasan, Nigerian shoes business

BHH Podcast: What 2020 holds for SMEs (2) – Ugodre

Business Half Hour (BHH) is a weekly podcast targeted at Startups and Entrepreneurs, who are redefining the Nigerian business scene through innovation.
Visa moves to acquire fintech company, Plaid for $5.3 billion 

Visa to acquire fintech company, Plaid, for $5.3 billion 

Popular payments company, Visa, has announced that it is acquiring fintech startup, Plaid, in a deal worth $5.3 billion. #PLAID #VISA
Internet World Stats, Nigerian Communications Commission remittance, Network operators in Nigeria, Telecoms companies in Nigeria, MTN Nigeria, Airtel Africa, Globacom data, 9mobile court case, Top 10 states in Nigeria with the highest Internet subscribers , Telecommunications: The bright spot in a fragile economy, Telcos add 5.64 million voice and data subscribers in Q3 2019 - NBS , Alleged N200bn Debt: EFCC, DSS to probe telcos, Network glitch, as poor internet speed continues to impede banking services   

Reps to engage EFCC against Telcos over alleged N200 billion NITDA debt  

Telecommunication providers in the country are set to be investigated by EFCC and DSS over allegedly owing NITDA N200 billion.  
Disrupting Nigerian banks, Evolution of Nigerian banks in 59-years , GTB, UBA, Zenith, Access Banks’ salary advance loans, Can a company operate without a website in 2019? , Banks refund N3.09 billion to customers over claims on excess charges, fraud, others  , Bank CEOs applaud NCC’s decision to suspend USSD charges, GTBank, Zenith, Access, FBN, 10 others spend over N8 billion on CSR, Banking: Evolving trends in the bankers’ market, GTBank, Access, FBNH, Standard Chartered wrestle over women entrepreneurs , GTBank, Access Bank, Zenith, FBN, 16 others disburse CBN’s N610.4 billion to farmers , Credit to government declines, as Credit to private sector hits N25.8 trillion, Banking sector NPLs down, loans up, Non-Performing Loans in Agriculture, construction, others rose to N143.76 billion, Asset seizure: Banks begins recovery of N6.125 trillion borrowed to the oil sector, Customer Experience: GTB, FCMB, Citibank, others emerge best banks in 2019  

Banks to recover N6.125 trillion loan from oil firms 

Commercial banks in Nigeria are set to begin the recovery of N6.125 trillion borrowed to oil firms in a bid to braze themselves for recapitalisation.
Lekan Akinyanmi, Lekoil, Lekoil secures $184m funding to finance OPL 310 drilling , Loan scam forces Lekoil’s shares to plunge over 70% as more denial emerges, Seawave Invest Ltd said it is open to investigation over Lekoil’s loan scam , Loan scam: Lekoil Limited seals payment extension deal to prevent losing oilfield

LSE suspends Lekoil’s shares over $184 million loan source 

The shares of Nigerian-based oil company, Lekoil Limited, has been suspended from trading at the London Stock Exchange’s ‘AIM’. 
Rolls-Royce sells 5,152 cars in 2019, records best-ever sales in 116-year history  

Rolls-Royce sells 5,152 cars in 2019, hits best-ever sales in 116-year history  

Rolls-Royce Motor Cars recorded unprecedented level of sales, with a global performance unequalled in the company’s 116-year history.
President Buhari EAC

Buhari meets Economic Advisory Council, as devaluation concerns loom

President Muhammadu Buhari reportedly met with the Economic Advisory Council (EAC) last weekend in Abuja, in what appears to be a move to chart new policy directions for the Nigerian economy in 2020.
Dangote Industries targets $30 billion turnover by 2022 

Dangote Industries targets $30 billion turnover by 2022 

Aliko Dangote said he believes that in the next two years, his group of companies will start generating an annual turnover of $30 billion.
German bank moves to support 10,000 SMEs with $33 million credit facility 

German bank to support 10,000 Nigerian SMEs with $33 million credit facility 

About 10,000 SMEs are set to benefit from the $33 million credit facility given by the German lender, KfW Development Bank.
MTN Nigeria, MTN to withdraw case against AGF after transfer to debt issue to FIRS, Customs, MTN Nigeria reacts to poor internet as network issues go beyond Nigeria 

MTN withdraws case against AGF, to engage FIRS, Customs

The Federal Government has withdrawn its demand for the sum of N242 billion and $1.2 billion from telecommunications company, MTN Nigeria.
Nigerian Stock Exchange, NSE: Return of the Bulls, Bulls reign at the bourse as stocks gain N460.69 billion on Wednesday, Okomu, UACN, Ekocorp top gainers list on Friday, Stock Market closed the week bullish as ASI grew 0.94% 

Okomu, UACN, Ekocorp top gainers chart on Friday 

Okomu Oil, C&I Leasing, UACN, Livestock Feed and Ekocorp Plc led the ranks of gainers on the flour of the stock market.
NCC orders immediate suspension of USSD charges by telcos, 5G Network to undergo 3 months trial before approval - NCC , NCC licenses 20 new Internet service providers amidst challenges , 150 million Nigerians risk being defrauded – NCC , NCC warns telcos against cyber fraudsters , NCC rolls out new regulations on drone use, NCC licenses 10 new VAS providers as it projects market to hit $500 million , NCC, Infracos set to develop broadband infrastructure with N265 billion raise , Telecommunications: Broadband penetration set to grow 

NCC, Infracos to boost broadband infrastructure with N265 billion 

A total of N265 billion is set to be raised by the NCC and an association of several infrastructural companies.

Nigerian customs records N1.3trillion revenue in 2019, exceeds target by N404billion 

No less than N1.341 trillion was generated by the Nigeria Customs Service (NCS) as revenue for the year 2019.
PoS agents, operators kick against N50 charge, seek policy reversal,, Oil marketers want exemption from N50 PoS charge, say it’s not profitable for petrol dealers  

Oil marketers demand exemption from N50 PoS charge

Oil marketers have said it is unfair for petrol dealers to be asked to pay the N50 stamp duty charge for transactions done on PoS machines.
Bearish and Bullish, Nigeria inflation, Dollar supply, World Bank projection for Nigeria, FGN Bond, Treasury Bills, 2018 in retrospect, Everyday Money Matters, EMM Podcast, Ugodre,

EMM Podcast: How to set financial, career and personal goals for 2020

On this episode of the EMM Podcast, Ugodre delved into a number of conflicting personal finance questions and issues making round in the economy. The 30-minute stretch is explosive and I enjoin you to hit play.

Lagos debt hits N39.6 billion, to borrow N97 billion more

Lagos State Commissioner for Finance, Rabiu Olowo, has said that although the state's debt has risen to N39.692 billion, there’s no cause for alarm.
Fuel Subsidy

Nigeria in trouble as rising subsidy cost exacerbates revenue crisis

The Federal Government of Nigeria is really experiencing a serious revenue crisis which is now being exacerbated by the increasing cost of fuel subsidy.
Defunct NITEL/MTEL pensioners get N842.8 million pension arrears 

Defunct NITEL/MTEL pensioners get N842.8 million arrears 

No less than 11,331 pensioners have been paid N842.8 million by the Pension Transitional Arrangement Directorate (PTAD).
Pension Funds

PenCom to offer bonds, offset arrears 

The National Pension Commission (PenCom) is in talks with the Debt Management Office (DMO) to offer pension bonds on behalf of FG.
Nigeria, others secure AfDB’s $20m to improve renewable energy 

Nigeria, others secure AfDB’s $20m to improve renewable energy 

Nigeria and others have secured $20 million investment in the Metier Sustainable Capital International Fund II from AfDB. 

Nigeria spends N1.08 trillion to import used cars and motorbikes in one year 

Data obtained from the NBS show that Nigeria spent a whooping sum of N1.08 trillion to import used vehicles and motorcycles in one year.

Nigerian Customs: Apapa Command recorded N40.6 billion FoB in 2019  

The Apapa Command of the Nigerian Customs Service disclosed that it recorded N40.6 billion as Total FoB Value for the exports it processed in 2019.
World bank loans, Over 56% of 2019 budget expenditure was released for capital projects , FG changes decision to sell stake of oil assets in JVs, Finance Bill: Nigeria exempts small businesses from Company Income Tax , Finance Bill is for the good of Nigerians – Finance Minister, Zainab Ahmed, Nigeria, five other West African countries reject ‘Eco’ as ECOWAS single currency 

Nigeria exempts small businesses from Company Income Tax 

The new Finance Bill will ensure the exemption of small businesses with an annual turnover of less than N25 million from Company Income Tax. 
China Development Bank, Sanwo-Olu sign $629m facility to complete Lekki Deep Seaport , Lagos State Government seeks partnership with insurance operators, Bond Issue: Lagos State Government to raise N100 billion for infrastructural development

Bond: Lagos to raise N100 billion for infrastructural development

The Lagos State Government has announced the launch of its third series N500 billion bond issuance programme which seeks to raise N100 billion.