Business

A Slovenian woman has been found guilty of deliberately sawing off her own hand as part of an insurance scam.   A court in the capital Ljubljana found that Julija Adlesic, 22, had taken out five insurance policies in the year before her injury. She had claimed it happened as she cut branches. ...

The Forbes Magazine just announced the First Person ever to reach 200 billion US Dollars net worth. The world’s richest man is now also the world’s first $200 billionaire. Amazon CEO Jeff Bezos broke the wealth barrier on Wednesday as shares of his online shopping behemoth continued to surge on skyrocketing demand for online shopping.   ...

Facebook founder Mark Zuckerberg has seen his personal wealth rise to $100bn (£76bn) after the launch of a new short-form video feature. On Wednesday, Facebook announced the US rollout of Instagram Reels, its rival to controversial Chinese app TikTok. Facebook shares rose by more than 6% on Thursday. Mr Zuckerberg holds a 13% stake in the company. He joins Amazon founder Jeff Bezos and Microsoft’s Bill Gates in the exclusive so-called 'Centibillionaire Club'. Technology bosses have been in...

A hair salon owner in Texas was ordered to spend a week in jail after she continued to operate her business despite restrictions put in place because of the coronavirus pandemic. Shelley Luther was booked in the Dallas County jail on Tuesday afternoon following a video hearing, during which she was found in contempt of court. The hearing occurred as Gov. Greg Abbott relaxed more restrictions statewide, allowing barbershops and hair salons to reopen Friday. ...

Kanye West is officially a billionaire, according to Forbes. The magazine says the rapper and fashion designer, who has long coveted the status, gave it a glimpse into his personal finances, which led it to value his net worth at $1.3bn (£1.04bn). That includes his stake in the Yeezy trainer line, which Forbes describes as “one of the great retail stories of the century”, worth $1.26bn (£1.0bn). Added to that, Forbes said the statement of assets supplied to them by West’s team lists $17m ...

With a profit after tax (PAT) of N209 billion in its recently released financial results for the year ended December 31, 2019, up from the N193 billion recorded the previous year, Zenith Bank has become the first Nigerian Bank to cross the N200 billion mark. AriseTV Analyst, Mr. Chika Mbonu, stressed this while analysing the company’s performance on the ‘Global Business Report,’ yesterday. Mbonu, who is a former bank chief executive and presently Managing Director, KSBC Advisory Partners L...

Allen Ifechukwu Athan Onyema, the Chairman, CEO, and founder of Air Peace, a Nigerian airline, has been charged with bank fraud and money laundering for moving more than $20 million from Nigeria through United States bank accounts in a scheme involving false documents based on the purchase of airplanes.  The international airline’s Chief of Administration and Finance, Ejiroghene Eghagha, has also been charged with bank fraud and committing aggravated identity theft in connection with the scheme....

Twitter CEO and Co-founder, Jack Dorsey, is currently in Nigeria. Mr. Dorsey arrived on Thursday evening as part of his listening and learning tour across Africa. After Nigeria, Mr Dorsey is also set to visit Ethiopia, Ghana and South Africa. ...

The Nigerian Government has deactivated over 2.2 million improperly registered mobile telephone lines in the country. The Deputy Director/Head of Information, Press and PR Unit, at the Federal Ministry of Communications, Mrs Philomena Oshodin, disclosed this in a statement on Saturday. She explained that the Nigeria Communications Commission (NCC) blocked the lines following the directive of the Minister of Communications, Dr Isa Pantami. Oshodin said the minister had ordered the NCC to ensur...

The Central Bank of Nigeria has directed the strict implementation of Merchant Service Charge, which would impose more charges on all point of sale (PoS) transactions. This is coming few days after the apex bank announced new charges on withdrawal and deposit of funds above N500,000. The directive on the 'Unbundling of Merchant Settlement Amounts' was contained in the CBN circular to banks, processors and switches, titled: 'Review of Process for Merchants Collections on Electronic Transaction...

A Nigerian man has been sentenced to four years in prison for defrauding the United States government up to $8.3 million Medicare charges. Ayodeji Fatunmbi was found guilty in a jury trial on July 31, 2014, but was only sentenced to 46 months in prison on August 19, 2019, according to the U.S. Department of Justice.  He was extradited to the U.S. in October 2018 based on the ruling of the Federal High Court. Mr Fatunmbi, 47, was found guilty on one count of conspiracy to commit health care...

A British judge has ordered the Nigerian government to pay $9bn in assets to a small private company. The firm, P&ID, had reached a deal with the Nigerian government in 2010 to build a natural gas plant - but the deal fell through two years later. P&ID then sued the government for failing to provide the gas or install the pipelines it had promised to build. The firm was first awarded $6.6bn (£5.4bn) in 2017, but the London court has now added $2.4bn in interest. According to the firm's web...