Shareholders
Creditor offers Bitcoin miner Core Scientific $72M to avoid bankruptcy
B. Riley suggested the embattled miner’s issues were “self-imposed” and outlined a path for it to avoid bankruptcy. Financial services platform B. Riley has offered Bitcoin (BTC) miner Core Scientific $72 million in financing to avoid bankruptcy and preserve value for Core Scientific stakeholders. B. Riley, a top lender to Core Scientific with $42 million in loans currently outstanding, outlined the terms of the financing agreement in a Dec. 14 letter noting it’s prepared to fund the first $40 million “immediately, with zero contingencies.” The finance platform suggested the remaining $32 million would be conditional on the BTC miner suspending all payments to equipment lenders while Bitcoin prices are below $18,500. The last time the price of Bitcoin was above $18,500 was on Nov. 9,...
Total targets more renewable electricity, LNG production by 2030
Total Companies in Nigeria has unveiled its corporate vision in line with the change of the Total Group to TotalEnergies. The organisation aims to produce more renewable electricity and Liquefied Natural Gas (LNG) by 2030. The oil major also outlined its broad energy lineup that includes oil, gas, electricity, hydrogen, biomass, wind and solar. TotalEnergies is committing $60 billion to investment in renewable energy in the next 10 years, with 10 per cent of that investment expected to come to Nigeria. Speaking at a virtual parley with journalists, the Executive General Manager, Total Country Services, Mrs. Bunmi Popoola-Mordi, highlighted steps that would help in adapting the new name, logo and visual identity of the company. THISDAY had reported that the shareholders of Total Group, had ...
Minister: Nigerian government to scale up domestic gas expansion, monetisation drive
Minister of State, Petroleum Resources, Mr. Timipre Sylva, has stated that the federal government will continue to ramp up its current domestic gas expansion drive as well as its monetisation programme to increase the country’s supply of the much needed foreign exchange earnings. Speaking when he appeared virtually at the formal opening of the new headquarters of the Nigeria Liquefied Natural Gas Limited (NLNG) in Port Harcourt, Rivers State, the minister stressed that the company was expected to play a major role in achieving the objective. Sylva noted that the country’s gas reserves must be fully explored for the full benefit of Nigerians, noting that has remains a major game-changer for Nigeria, especially with the renewed attention to the commodity as a lower carbon energy source. “In ...
CSCS reiterates commitment to deepening capital market
The Central Securities Clearing System (CSCS) has restatement its commitment in repositioning business to efficiently play a more active and leading role in deepening the Nigerian capital market growth. Also, CSCS grew its profit after tax by 41.4 per cent for the year ended December 31, 2020. The company results showed that amidst unprecedented economic and financial market conditions occasioned by the COVID-19 pandemic, the Group grew total income by 31.3 per cent year-on-year (YoY) to N12.09 billion. Profit after tax grew by 41.4 per cent to N6.93 billion, translating to N1.39 earnings per share. The group delivered 20.3 per cent return on average equity for the 2020 financial year, compared to 15.3 per cent in 2019 full year. The company’s total assets stood at N41.42 billion, as again...
Namibian president caught in new fishing corruption allegations
Informante The president of Namibia has been implicated in new allegations of corruption involving the country’s lucrative fishing industry by an investigation released by the Organized Crime and Corruption Reporting Project (OCCRP) and The Namibian newspaper. According to a lawyer who allegedly arranged the deal, President Hage Geingob instructed his close associates to embezzle millions of dollars from a state-run fishing enterprise in order to bribe electors at the 2017 congress of the ruling SWAPO (South West Africa People’s Organization) party, reports the new investigation released on Friday. The lawyer, who is not named by the OCCRP, claims that Hage Geingob – elected as President of Namibia in 2014 and re-elected in 2019 – allegedly asked James Hatuikulipi, then chairman of the sta...
Ekiti reduces stake in Wema Bank
Ekiti State, one of the shareholders of Wema Bank Plc, has reduced its stake in the bank by 666.670 million from 1.191 billion shares. Ekiti, Oyo, Ogun, and Osun States are shareholders in Wema Bank. While Oyo, Osun, and Ogun held 666.670 million or 1.73 per cent each, Ekiti held 1.191 billion or 3.09 per cent as at December 31, 2019. But in a notification to the Nigerian Stock Exchange (NSE), signed by the Company Secretary of Wema Bank Plc, Johnson Lebile, the bank said Ekiti State Government sold 666.670 million shares at 65 kobo per share on the floors of the NSE, amounting to N433.336 million. According to the bank, the transaction took place between March 3 and 4, 2021. With the transaction, Ekiti State now holds about 524.1 million shares. Neem Tree Limited remains the majority shar...
Court declares SEC sanctions against Oando management null, void
Wikipedia Oando shareholders in the persons of Alhaji Yakubu Gumel; Alhaji Kabiru Tambari, suing for himself and on behalf of the Sokoto Zone Shareholders Association; Tunde Badmus, suing for himself and for the benefits of Pacesetters Shareholders Association, bagged yet another win at the Federal High Court (FHC) Kano, in a suit filed against the Securities and Exchange Commission (SEC) for overreaching its powers. Justice A. Lewis Allagoa presiding over the ruling dismissed the regulators preliminary objection and granted all the reliefs sought by the Oando Shareholders. The FHC Kano dismissed SEC’s objection on the basis that the shareholders’ claims fall under their rights as shareholders according to the Companies and Allied Matters Act (CAMA) and is therefore not a capital markets i...
Ole Gunnar Solskjaer set to land new deal at Manchester United
Manchester United gaffer Ole Gunnar Solskjaer is reportedly set to be handed with a bumper new contract to extend his Old Trafford stay. Solskjaer will enter the final 12 months of his three-year contract later this month. After a difficult 18 months, United have made massive strides under Solskjaer this season. The Red Devils are second in the Premier League table. However, they are a whopping 17 points behind rivals City with two games in hand. According to a report in the Daily Mirror, the 48-year-old will see his current £7m per year salary boosted to £9m. The report adds that talks to finalise the bumper new contract are ‘imminent’. United have already bolstered their senior management team, adding two new pieces in March. John Murtough was confirmed as the club’s new football directo...
2021: Banks to walk a tightrope amid low revenue environment
Nigeria’s deposit money banks (DMBs) must brace up for the challenge of 2021 that might tax their resolve to remain in business. Reason: the industry is faced with a tougher operating environment that could threaten the operators’ ability to meet their stakeholders’ needs and expectations yet perform meaningful corporate social responsibility roles. Their valuable customers such as high net-worth individuals, corporate bodies and other institutions are equally challenged. In his book, Business Stripped Bare, celebrated iconic entrepreneur and founder of the Virgin Group, Richard Branson, says, “without trustworthy banks, there can be no business, no employment, no money. According to Branson, “People have got to be able to go to bed at night secure in the knowledge that the money they depo...
NDPHC to complete four NIPPs with 2000MWs combined capacity
The Niger Delta Power Holding Company (NDPHC) has unfolded plans to complete four Nigerian National Integrated Power Project (NIPPs) with 2000MegaWatts combined capacity. The post NDPHC to complete four NIPPs with 2000MWs combined capacity appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Mele Kyari: NNPC will declare dividends in 2020 in spite of coronavirus
Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC) says he is optimistic that the corporation will declare dividends in 2020 in spite of the challenges posed by the COVID-19 pandemic. The post Mele Kyari: NNPC will declare dividends in 2020 in spite of coronavirus appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
SEC: Governments can unlock potentials by privatisation
The Securities and Exchange Commission, SEC, has stated that the Federal and State Governments have the capabilities to unlock enormous potentials through privatisation. The post SEC: Governments can unlock potentials by privatisation appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
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