Local JP Morgan Forecasts Naira to Trade at N850/$ Before End of 2023 November 2, 2023 Ekemini JP Morgan, a prominent US multinational financial services firm, has projected that the Nigerian naira will reach a trading rate of approximately N850 to the US dollar by the conclusion…
Features The Enigmatic Testimony: Sam Bankman-Fried’s Trial Revelations November 2, 2023 Ekemini The courtroom drama surrounding Sam Bankman-Fried, former CEO of the now-bankrupt crypto exchange FTX, has captivated the financial world. As he faced seven charges related to alleged financial crimes, Bankman-Fried’s…
Technology Tabby Emerges as Gulf’s First Fintech Unicorn with $1.5 Billion Valuation November 1, 2023 Ekemini Tabby, a platform offering Buy Now, Pay Later (BNPL) services in the Middle East, has secured $200 million in its Series D funding round, propelling its valuation to $1.5 billion.…
Business WeWork on the Brink of Chapter 11 Bankruptcy Filing November 1, 2023 Ekemini WeWork, the once high-flying flexible workspace provider, is reportedly on the verge of filing for Chapter 11 bankruptcy in New Jersey. This anticipated move follows WeWork’s warning in August about…
Local UN Supports 3.6 Million Vulnerable Individuals in Nigeria’s Northeast in H1 2023 November 1, 2023 Ekemini Matthias Schmale, the United Nations (UN) resident and humanitarian coordinator in Nigeria, announced that the UN provided assistance to 3.6 million vulnerable individuals in the northeastern region during the first…
Local Nigerian Naira Faces Challenges Amid Global Economic Factors November 1, 2023 Ekemini The Nigerian naira has encountered significant challenges in the foreign exchange market, with its value surpassing a crucial resistance level against the US dollar. This situation arises from a combination…
Local Senate Investigates Printing of New Naira Notes by NSPMC in 2022 November 1, 2023 Ekemini The Nigerian Senate has resolved to launch an investigation into the printing of new Naira notes by the Nigerian Security Printing and Minting Company Plc (NSPMC) in 2022. This move…
Local Airtel Africa Reclaims Title as Most Valuable Company on Nigerian Stock Market November 1, 2023 Ekemini After more than six months, Airtel Africa Plc has regained its position as the most valuable company on the Nigerian stock market. With a surge in market capitalization by N530…
Local Navigating Economic Hardships: How Nigerians Are Adapting to Rising Costs November 1, 2023 Ekemini The removal of fuel subsidies in May has led to challenging economic conditions in Nigeria, impacting the daily lives of its citizens. From soaring house rents to escalating school fees…
Local Economic Contraction: Nigeria Sees First Business Activity Decline in Seven Months November 1, 2023 Ekemini According to the latest Purchasing Managers’ Index (PMI) report released by Stanbic IBTC Bank, business activity in Nigeria has contracted for the first time in seven months. The headline index…
Local MTN Nigeria Adapts Strategies to Offset Forex Losses and Bolster Growth November 1, 2023 Ekemini Amidst foreign exchange challenges, MTN Nigeria, the country’s leading telecom service provider, is proactively localizing its spending to mitigate anticipated losses in the second half of 2023. Approximately 40% of…
Local Dangote Refinery Faces Delays in Commencing Diesel and Jet Fuel Refining November 1, 2023 Ekemini Despite earlier projections, Dangote Refinery has experienced delays in initiating its diesel and jet fuel refining operations. This setback is attributed to the Nigerian National Petroleum Company (NNPC) Limited’s inability…
Local Lagos State Secures $1.352 Billion Investment for Key Infrastructure Projects November 1, 2023 Ekemini The Lagos State Government has successfully entered into a strategic partnership with the African Export-Import Bank (Afreximbank) and Access Bank for a substantial investment of $1.352 billion in critical long-term…
