Business Local Naira Sees Mixed Fortunes in Official Exchange Rate February 27, 2024 Ekemini Uba On February 26, 2024, the Nigerian Naira witnessed a notable appreciation against the US dollar, with the official exchange rate strengthening by 5.22% to N1582.94/$1. However, the Naira encountered intensified…
Local FBN Holdings Emerges as Nigeria’s Most Capitalized Bank February 27, 2024 Ekemini Uba On Monday, February 25th, 2024, FBN Holdings, Nigeria’s oldest bank, achieved the distinction of becoming the most capitalized bank in Nigeria following the close of trading. With its share price…
World Mark Zuckerberg Discusses AI with Japanese Prime Minister February 27, 2024 Ekemini Uba Mark Zuckerberg, the CEO of Meta Platforms, engaged in discussions about artificial intelligence (AI) with Japanese Prime Minister Fumio Kishida during his visit to Tokyo, Japan. The meeting, part of…
Commodities Trade World Bitcoin Tops $57 000 as Large Players Enter Market February 27, 2024 Ekemini Uba Bitcoin reached a two-year high on Tuesday, driven by indications of significant investments from major players in the cryptocurrency market. Meanwhile, its counterpart, ether, surpassed $3,200 for the first time…
Business World Russia Implements Six-Month Ban on Gasoline Exports February 27, 2024 Ekemini Uba In a bid to stabilize prices amidst rising demand from consumers and farmers, Russia has announced a six-month ban on gasoline exports starting from March 1. The ban aims to…
Business Local CEO of Air Peace Limited Reveals Reasons for Choosing Gatwick Airport February 26, 2024 Ekemini Uba Allen Onyema, the Chairman and CEO of Air Peace Limited, revealed that the airline opted for Gatwick Airport to operate its Lagos-London flight, starting from March 30, 2024, due to…
Business Local Leatherback Set to Expand Internationally After EFCC’s Probing February 26, 2024 Ekemini Uba Leatherback, a financial services technology company, is set to expand internationally with offices in the United Kingdom (UK), Nigeria, Ethiopia, Canada, India, Pakistan, Nepal, and Sri Lanka. The company’s CEO,…
Commodities Local Price of Foreign Rice Surges to N88,000, Experts Traces Cause February 26, 2024 Ekemini Uba The cost of a 50kg bag of foreign rice has skyrocketed to over N88,000 in major stores across Nigeria, marking a significant 22.2% increase from the earlier price of N72,000…
Local Companies in China Abandon Plans for IPOs over Tight Scrutiny February 26, 2024 Ekemini Uba Companies have rushed to abandon their plans for initial public offerings (IPOs) in China this year due to the tightening of rules by the securities watchdog. Data from stock exchanges…
World Meta to set up team to counter disinformation, AI abuse in EU elections February 26, 2024 Ekemini Uba Meta, the parent company of Facebook, announced plans to establish a team dedicated to addressing disinformation and the misuse of generative artificial intelligence leading up to the European Parliament elections…
World UK Regulators Warn Fundamental issues with Housebuilding February 26, 2024 Ekemini Uba The Competition and Markets Authority (CMA) in Britain highlighted fundamental problems within the housebuilding market, hindering the construction of more homes. In response, the CMA announced an investigation into eight…
Business World US Investors Reduce Expectations Over Fed Rate Cut in 2024 February 26, 2024 Ekemini Uba A sell-off in the U.S. government bond market is gaining momentum, fueled by a robust economy that diminishes expectations for immediate interest rate cuts from the Federal Reserve. Investors have…
Business World Downturn in US Refining Activity Tightens Diesel Supply February 26, 2024 Ekemini Uba In recent weeks, a downturn in U.S. refining activity and disruptions to global trade have led to a tightening of diesel supplies, impacting historically high U.S. diesel exports to Europe.…
Banking Business Local CBN Pegs Payment of Cash Dollar at $500 February 26, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) has pegged the payment of cash dollar purchase to a customer at $500 saying that the foreign currency (FX) exceeding this amount will be…
Business Local Tinubu Holds Emergency Meeting with Dangote, Elemelu and Others Over Econom February 26, 2024 Ekemini Uba Nigerian President Bola Ahmed Tinubu took proactive steps to address the escalating economic challenges facing the nation by convening a high-profile meeting on Sunday at the Presidential Villa in Abuja.…
Local Dangote, Tony Elemelu, Others Join Economic Advisory Committee February 26, 2024 Ekemini Uba President Bola Tinubu inaugurated an Economic Advisory Committee on Sunday, consisting of prominent figures in the economic sector such as Aliko Dangote, Tony Elumelu, among others. The committee’s purpose is…
Breaking Business Local Geometric Power Plant in Aba Gets Commissioned by Pres. Tinubu Today February 26, 2024 Ekemini Uba Today, February 26, 2024, marks a historic moment for Aba as President Bola Tinubu commissions the Geometric power plant, the first integrated power plant in Nigeria, located at the Osisioma…
Business Local European Union Commences 4-Day Working Visit to Nigeria February 26, 2024 Ekemini Uba The Council of European Union’s Africa Working Party (COAFR) has commenced its first-ever four-day working visit to Nigeria, arriving in Abuja from February 26 to 29, 2024. This visit signifies…
Business investment Local AVA Global Asset Launches 20bn Fund for Infrastructure Development February 26, 2024 Ekemini Uba Ava Global Asset Managers Limited, a member of the AVA Capital Group, is launching a N20 billion fund as part of its N200 billion Infrastructure Fund (IF) program. This initiative…
Local NAPPS Decries Multiple Taxation by FG- Samira Jibril February 26, 2024 Ekemini Uba Samira Jibril, the president of the National Association of Proprietors of Private Schools (NAPPS), expressed concern over the burden of multiple taxes imposed on private schools by the federal government.…
Business Local Poverty Level Increases in Nigeria Despite High GDP Rate- Experts February 26, 2024 Ekemini Uba The rise in the price of goods and commodities in Nigeria, despite the Gross Domestic Product (GDP) rising above 3 percent in the fourth quarter of 2023, is exacerbating poverty…
Local NLC Raises Concern Over Alledged Violence Against Members February 26, 2024 Ekemini Uba Comrade Joe Ajaero, the President of the Nigeria Labour Congress (NLC), has raised concerns about the federal government’s alleged plans to incite violence against NLC members participating in the planned…
Business insurance Local Ava Global Asset Reveals 20bn Insurance, Enhances Infrastructure February 26, 2024 Ekemini Uba Ava Global Asset Managers Limited has disclosed the issuance of N20 billion under its N200 billion Infrastructure Fund (IF) program, designed to enhance infrastructure development in Nigeria. Speaking at a…
Banking Business Local Uphold Regulations, EFCC Chairman Urges Bank CEOs February 22, 2024 Ekemini Uba Mr. Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission (EFCC), has emphasized the importance of adherence to regulations and ethical standards by Chief Executive Officers (CEOs) of…
Business Local Market Trade Exchange Rate Fluctuates, Naira hits N1,900 and Rebounds to N1,354 Against USDT February 22, 2024 Ekemini Uba In the past twenty-four hours, the Binance cryptocurrency platform encountered significant turbulence as the exchange rate between the naira and the popular stablecoin, Tether (USDT), experienced a drastic plummet to…
Technology World Neuralink’s Brain-Chip Patient Controls Computer Mouse with Thoughts February 21, 2024 Ekemini Uba Elon Musk, the founder of Neuralink, announced that the first human patient implanted with a brain-chip from the startup has fully recovered and can control a computer mouse using their…
Agriculture Business World Ghana Cocoa Board CEO Advocates Higher Prices to Combat Cocoa Smuggling February 21, 2024 Ekemini Uba Joseph Boahen Aidoo, CEO of the Ghana Cocoa Board (COCOBOD), affirmed the organization’s dedication to offering cocoa farmers competitive prices as a strategy to address cocoa smuggling. Speaking before the…
Asia Business World Foxconn Founder Terry Gou Resurfaces at Company’s Event February 21, 2024 Ekemini Uba Terry Gou, the billionaire founder of Foxconn, made a high-profile appearance at the company’s 50th anniversary celebration, marking his first public appearance in months since ending his bid for Taiwan’s…
World $240 Million Diversion at Zee Entertainment Enterprises February 21, 2024 Ekemini Uba India’s market regulator has uncovered a preliminary finding suggesting that 20 billion rupees ($240 million) has been diverted from Zee Entertainment Enterprises’ books, prompting questioning of Zee Group founders. The…
Business World London’s BT Tower Sold for $347 Million, Set to Transform into Hotel February 21, 2024 Ekemini Uba BT Group has agreed to sell London’s iconic BT Tower to MCR Hotels for £275 million ($347 million), paving the way for the landmark to be converted into a hotel.…
