Nigeria Labour Congress Raises Alarm Over Cash Scarcity, Threatens Public Protest
With just five days to Christmas, the Nigeria Labour Congress (NLC) has voiced concerns over the prolonged cash scarcity in…
Month: December 2023
Dangote Oil Refinery Receives Two Million Barrels of Crude, Set to Commence Production
The Dangote Oil Refining Company, a $19 billion project, is on the brink of commencing petroleum product production with the…
Manchester City Fined £120,000 for Player Misconduct Toward Referee in Tottenham Draw
Manchester City has been fined £120,000 ($152,000) by the Football Association after their players surrounded referee Simon Hooper in protest…
Volcanic Eruption in Iceland: Thousands Evacuated as Lava Flows and Ash Billows
Approximately 4,000 people were evacuated from the fishing town of Grindavik in Iceland following a volcanic eruption that began north…
Peter Obi Advocates Attracting Foreign Investors Over Chasing Them: A Counter Perspective to Nigeria’s Investment Approach
The presidential candidate of the Labour Party, Peter Obi, has expressed his view that Nigeria should focus on attracting foreign…
Joint National Assembly Committee Fast-Tracks 2024 Budget Passage: N27.5 Trillion Set for Approval
The Joint National Assembly Committee on Appropriation has announced its commitment to passing the 2024 appropriation bill before the week…
President Tinubu Mediates Political Crisis in Rivers State: Stakeholders Sign Peace Agreement
President Bola Tinubu took proactive steps to address the political crisis in Rivers State by convening a meeting with key…
OpenAI Enhances Safety Measures: Introducing Safety Advisory Group and Updated Preparedness Framework
OpenAI, a prominent AI development company, is taking significant steps to strengthen its internal safety processes against potential harmful AI…
SEC Charges Tingo Group CEO for Fabricating Financial Statements and Insider Trading
The Securities and Exchange Commission (SEC) in the United States is set to bring charges against Dozy Mmobuosi, the CEO…
Nikola’s Founder, Trevor Milton, Sentenced to Prison for Fraud – A Warning to Corporate Executives
Trevor Milton, the founder of Nikola Corporation, has been sentenced to prison after being convicted of fraud. The 41-year-old entrepreneur…
Elon Musk Challenges Climate Alarmism: Advocates Pragmatism and Sustainability at Right-Wing Summit
Elon Musk, CEO of Tesla, addressed a right-wing summit organized by the Brothers of Italy party in Rome, challenging the…
President Tinubu Pledges to Enhance Nigeria’s Investment Climate: Total Energies Plans $6bn Investment in Oil and Gas Sector
President Bola Tinubu has assured the international investment community of his administration’s commitment to position Nigeria as a top-level destination…
President Tinubu Inaugurates NNPCL Board with Emphasis on Performance and Corporate Social Responsibility
President Bola Tinubu has officially inaugurated the 11-man Board of the Nigerian National Petroleum Company Limited (NNPCL) with a stern…
Power Sector Challenges Persist: Nigerian Discos Achieve 79% Billing Efficiency in Q3, but ATC&C Losses Remain a Concern
The Nigerian Electricity Regulatory Commission (NERC) has released its Q3 quarterly report, revealing that Electricity Distribution Companies (Discos) collected N267.6…
Standard Chartered Streamlines Operations: Sells Consumer Banking Business in Côte d’Ivoire to Coris Group
Standard Chartered has finalized an agreement with Coris Group for the sale of its consumer banking business in Côte d’Ivoire,…
MTN Nigeria Successfully Raises N72.1 Billion in Series 10 Commercial Paper Issuance
MTN Nigeria Communications Plc has announced the successful completion of its Series 10 Commercial Paper issuance, surpassing its initial target…
NGX Targets Younger Investors: Financial Literacy Campaign Aims to Empower Gen Zs and Millennials
The Nigerian Exchange (NGX) is proactively reaching out to younger investors, unveiling plans to engage and attract Gen Zs and…
Stock Market Edges Up 0.02% on Surge in Buying Interest: Transcorp Hotels and Others Lead the Charge
The Nigerian Exchange Limited (NGX) witnessed a modest positive start to the week, with the stock market gaining 0.02% fueled…
Mark Zuckerberg Surpasses Warren Buffett and Bill Gates in Wealth Rankings
Mark Zuckerberg, the Founder of Meta, has surpassed Warren Buffett in riches by $7 billion, according to the Forbes Billionaire…
Nigeria’s Inflation Hits 28.20% in November, Highest Since 2016
Nigeria’s annual inflation has surged to 28.20% in November, up from 27.33% in October, as reported by the country’s bureau…
TotalEnergies to Construct 216MW Solar Plant with Battery Storage in South Africa
TotalEnergies (TTEF.PA) announced on Friday its readiness to commence the construction of a groundbreaking 216-megawatt solar plant with battery storage…
Foreign Investors Crucial as Nigeria Grapples with Economic Challenges
Despite its sizable population, Nigeria’s contribution to the total revenues of multinational corporations operating within its borders is remarkably modest,…
Nigeria’s Naira Devaluation Fails to Boost Non-Oil Exports, Highlighting Structural Challenges
Despite the significant devaluation of the Nigerian naira since June, the country’s non-oil exports remain stagnant, revealing structural challenges that…
Pension Fund Mortgage Initiative Gains Traction: N14.83 Billion Approved for 1,371 Contributors
A pioneering initiative allowing pension contributors to utilize a portion of their Retirement Savings Account (RSA) balance for residential mortgages…
CBN Considers Fintech-Specific Corporate Governance Guidelines to Tackle Growing Fraud
The Central Bank of Nigeria (CBN) is reportedly contemplating the implementation of fintech-specific corporate governance guidelines as part of its…
CBN Forecasts Decline in Inflation and Exchange Rate Pressures, Positive Economic Outlook in 2024
The Central Bank of Nigeria (CBN) has provided a positive economic outlook for 2024, anticipating a significant decline in both…
African Countries Lose $90 Billion Annually to Illicit Financial Flows, Says AfDB Chief Economist”
Kevin Chika Urama, Chief Economist and Vice President at the African Development Bank, has raised alarm over the staggering loss…
Nairobi Securities Exchange Sees Continued Wealth Erosion in Q4 Despite Select Stock Gains
The Nairobi Securities Exchange (NSE) has experienced a prolonged wealth erosion trend in the fourth quarter of the year, extending…
World Bank Approves $150 Million Project to Create 45,000 Jobs in Kenya
The World Bank has approved the Kenya Jobs and Economic Transformation Project (KJET), a $150 million initiative aimed at creating…
Nigerian National Council on Privatisation (NCP) Inaugurated by Vice President Shettima
Vice President Kashim Shettima has inaugurated the newly reconstituted National Council on Privatisation (NCP), emphasizing its crucial role in implementing…