Business Archives - Page 2 of 11

Minister Lokpobiri Blames Underperforming Upstream Sector for Nigeria’s Oil Industry Struggles

Posted February 27, 2025 by FreedomsquareTV

Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources, criticized the performance of companies operating in Nigeria’s upstream oil sector, attributing the underperformance of the oil and gas industry to their actions. Despite contributing over 90 percent of Nigeria's foreign exchange earnings, the petroleum sector contributes less than five…

FBI Blames North Korea for $1.5 Billion Cryptocurrency Heist from Bybit Exchange

Posted February 27, 2025 by FreedomsquareTV

The U.S. Federal Bureau of Investigation (FBI) announced on Thursday that North Korea is responsible for the theft of approximately $1.5 billion in digital assets from the cryptocurrency exchange Bybit. The hack, which took place on February 19, 2025, is now recognized as the largest cryptocurrency heist in history. The…

Apple Rejects Proposals on Child Abuse Protection and DEI Policies at Shareholder Meeting

Posted February 26, 2025 by FreedomSquareTV

During Apple's annual shareholder meeting on February 25, the company rejected four resolutions proposed by conservative groups working in collaboration with the Alliance Defending Freedom (ADF), a legal firm. These proposals primarily aimed at holding Apple accountable for its actions regarding online child sexual abuse and its diversity, equity, and…

Transcorp Power Reports 165% Profit Surge and Announces N37.5bn Dividend Amid Power Sector Challenges

Posted February 25, 2025 by FreedomsquareTV

Despite the difficulties faced by the power sector, including frequent grid collapses, Transcorp Power Plc has achieved significant financial growth. The company reported a 165% increase in Profit After Tax, rising from N30.2 billion in 2023 to N80.01 billion in 2024. This was announced by the company’s Chairman, Mr. Emeka…

Grangemouth Oil Refinery to Shut Down in 2025

Dangote Refinery Exceeds Local Fuel Needs, Set to Boost African Energy Market

Posted February 24, 2025 by FreedomsquareTv

Alhaji Aliko Dangote, President of the Dangote Group, revealed that the Dangote Petroleum Refinery, located in Lekki, Lagos State, currently holds over 500 million litres of petrol in its reservoir, with enough production to meet both local consumption and export demands. During a tour of the $20 billion facility, Dangote…

Kuda Technologies Faces Legal Battle Over Allegations of Workplace Discrimination and Wrongful Dismissal

Posted February 19, 2025 by Steven

Kuda Technologies, one of Africa’s leading digital banking platforms, is facing serious allegations of workplace discrimination, harassment, and wrongful termination. The claims have been brought forward by its former Group Chief People Officer (CPO), Rosemary Hewat, who has filed a case with the UK Employment Tribunal against both the company…

Senate Explores Partnership with South Korean Firm to Tackle Nigeria’s Power Grid Collapse

Posted February 18, 2025 by Freedom Square TV

The Nigerian Senate, through its Power Committee, is considering a collaboration with South Korean energy firm BK Energy to tackle the country’s persistent issues with grid collapses and the resulting power outages. This initiative was discussed on Monday when the committee, led by its chairman, Senator Enyinnaya Abaribe, hosted a…

CBN Assures Public of Keystone Bank’s Stability Amid Ownership Transition

Posted February 14, 2025 by Freedom Square TV

The Central Bank of Nigeria (CBN) has assured the public that Keystone Bank Limited remains financially stable and operational, dispelling any fears about the security of customers' deposits. This statement was issued on Friday by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, in response to growing concerns…

CBN Ends Free ATM Withdrawals for Other Bank Users, Introduces New Charges

Posted February 11, 2025 by Freedom Square TV

The Central Bank of Nigeria (CBN) has eliminated the provision that allowed customers to make three free withdrawals per month using other banks’ Automated Teller Machines (ATMs). This policy change was driven by increasing operational costs and the need to enhance ATM service efficiency. Under the new directive, customers will…

New Tax Law Will Drive Investment, Says Powell Homes Boss

Posted February 8, 2025 by Steven

Governor Peter Ndubisi Mbah of Enugu State has been commended for signing into law the bill establishing a one-stop shop for tax collection and administration in the state. The Managing Director of Powell Homes and Shelters Ltd, Architect Chibuikem Onyekachi, made this known on Saturday during a…