business news

How Dangote Refinery’s ₦2.15trn IPO Ambition Moved Beyond Physical Borders
business

How Dangote Refinery’s ₦2.15trn IPO Ambition Moved Beyond Physical Borders

When the refinery’s initial public offering (IPO) closed on October 27, 2026, it had attracted investor applications from 120 countries, including all 54 African nations. L-R: Group Chairman, Nigerian Exchange Group, Umaru Kwairanga; President and Chief Executive Officer, Dangote Industries Limited, Aliko Dangote; Group Executive Director, Dangote Industries Limited, Halima Aliko-Dangote; Group Managing Director and Chief Executive Officer, Nigerian Exchange Group, Temi Popoola, at the official opening of the Dangote Refinery IPO at the Nigerian Exchange (NGX) in Lagos on Monday, September…

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Falana seeks recovery of $123bn in oil funds
business

Falana seeks recovery of $123bn in oil funds

Human rights lawyer, Femi Falana, SAN, has called for the recovery of more than $123 billion and N66.4 billion allegedly owed to the Federation Account by the Nigerian National Petroleum Company Limited (NNPCL) and other oil and gas companies. Falana, in a letter dated October 28, 2026, addressed to the Senate President and copied to the Speaker of the House of Representatives, urged the authorities to initiate measures to recover the funds, which he said comprised outstanding oil royalties, proceeds of alleged crude oil theft, unpaid dividends, taxes and other revenues.

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Societe Generale Ghana rewards four customers with GH¢10,000 each in First Deposit & Win Mini Draw
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Societe Generale Ghana rewards four customers with GH¢10,000 each in First Deposit & Win Mini Draw

Societe Generale Ghana has rewarded four customers with GH¢10,000 each in the first mini draw of its 2026 Deposit & Win Promo. Speaking at the event, the Bank’s General Manager, Retail Business, Mr. Kwaku Tweneboa-Kodua, said the campaign provides an opportunity to reward customers for their trust in SG Ghana while encouraging them to continue saving and growing their deposits with the Bank.

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Tell us: have you been affected by the Binance hack?
business

Tell us: have you been affected by the Binance hack?

We’d like to hear from people who’ve been directly affected by the hack or now have concerns about crypto security The world’s largest cryptocurrency exchange has been hit by an industry-record $6.3bn (£4.7bn) hack. Binance has scrambled to freeze the affected assets, with about $3bn located so far.

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Absa introduces instant loans for eligible salaried customers
business

Absa introduces instant loans for eligible salaried customers

Absa Bank Ghana is expanding access to personal loans with its Instant Loans solution, allowing eligible salaried customers to borrow up to GH¢350,000 through the Bank’s digital banking platforms. Director of Personal and Private Banking at Absa Bank Ghana, Charles Addo, said the solution forms part of the Bank’s efforts to make banking services more responsive to customers’ needs and expectations.

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Britain’s blighted high streets will improve by next election, says Rayner
business

Britain’s blighted high streets will improve by next election, says Rayner

Housing secretary says Labour wants to reverse fortunes of towns plagued by boarded-up shops and rogue businesses Angela Rayner has said voters will begin to see a difference in their high street before the next general election as Labour prioritises investment in struggling local communities. The housing secretary said the government had made it a top priority before the country goes to the polls to begin turning around the fortunes of places blighted by boarded-up shops and rogue businesses.

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Healey’s budget cuts mean Britain is likely to miss green heating targets
business

Healey’s budget cuts mean Britain is likely to miss green heating targets

Ex-energy secretary Ed Miliband’s agenda appears undermined as money is diverted from renewables to defence Britain is unlikely to hit its targets on green heating after the cuts announced by John Healey this week, experts have warned, as critics of Ed Miliband claim the former energy secretary’s green agenda is being dismantled. The chancellor unveiled more than £3bn worth of cuts to the energy department’s budget this week, much of which will pay for higher defence spending.

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Crypto Platform Binance Confirms ‘Complex’ $6.3bn Hack
business

Crypto Platform Binance Confirms ‘Complex’ $6.3bn Hack

Blockchain investigation firm TRM Labs said Thursday it had “high confidence” that the Binance hack was also orchestrated by TraderTraitor, citing “robust on and off-chain intelligence.” Paolo Ardoino, the boss of Tether — a company that issues a cryptocurrency known as USDT — said his firm froze about $1.6 billion “related to a potential Binance exchange hack.”

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UK house prices grow at slowest pace in two years as mortgage rates rise
business

UK house prices grow at slowest pace in two years as mortgage rates rise

Sluggish growth of 0.5% in October comes as higher borrowing costs put break on market UK house prices grew by an annual rate of just 0.5% in October, the slowest pace in more than two years, as higher mortgage rates put off potential buyers. The average price for a property in the UK stood at £273,566 in October, flat on the previous month and down from 0.8% in the year to September, according to the lender Nationwide.

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Andy Burnham admits he would have liked more radical first budget
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Andy Burnham admits he would have liked more radical first budget

Prime minister says room for manoeuvre was limited by geopolitical crises and Labour’s 2024 manifesto Andy Burnham has admitted his first budget as prime minister was not as radical as he would have liked because of the economic uncertainty facing the country. He said he would have liked to have gone further with this week’s announcement – including with higher energy support payments – but felt hemmed in by external events such as the war in Iran, which has pushed up borrowing costs.

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BP profits jump as Middle East conflict drives up oil refining margins
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BP profits jump as Middle East conflict drives up oil refining margins

Third-quarter underlying ​replacement ⁠cost profit rises to $8.46bn, up from $2.2bn ​a year ​ago BP has posted a jump in its quarterly profits as the war in the Middle East drove up oil and gas prices and led to “significantly higher” trading. The energy company said on ⁠Friday ⁠that third-quarter underlying ​replacement ⁠cost profit – a key measure of its income – rose to $8.46bn, up from $2.2bn ​a year ​ago.

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Crypto platform Binance confirms major hack, more than $2.5bn frozen
business

Crypto platform Binance confirms major hack, more than $2.5bn frozen

Cryptocurrency platform Binance said Thursday it had fallen victim to a major hack that had resulted in the freezing of more than $2.5 billion in an effort to prevent them from being stolen. Paolo Ardoino, the CEO of Tether — a company that issues a cryptocurrency known as USDT — said his firm froze about $1.6 billion “related to a potential Binance exchange hack.”

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‘Elite North Korean hackers’ blamed for $6.3bn Binance hack – business live
business

‘Elite North Korean hackers’ blamed for $6.3bn Binance hack – business live

Blockchain intelligence firm TRM says North Korea’s TraderTraitor hacking unit is responsible for the largest crypto theft on record The hacker who swiped over $6bn of digital assets from Binance is in the process of switching stablecoins (which can be frozen) into etherium (which can’t), according to media company Decrypt. Decrypt explains: Stablecoin issuers Tether and Circle moved quickly to blacklist the suspected attacker’s addresses in order to freeze a portion of the funds and make them inaccessible.

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