Banking Local FCMB Charges Accountants on Transparency March 4, 2024 Ekemini Uba The Managing Director of First City Monument Bank (FCMB), Mrs. Yemisi Edun, emphasized the importance of sustainability accounting during her keynote address at the Western Zone Conference of the Institute…
Local FCT residents loot NEMA warehouse March 4, 2024 Ekemini Uba Residents of the Federal Capital Territory (FCT) reportedly looted a warehouse belonging to the National Emergency Management Agency (NEMA) due to prevailing economic hardship in the country. The warehouse, located…
Local Lagos State to Implement Monthly Rental Scheme by End of 2024 March 4, 2024 Ekemini Uba Barakat Odunuga-Bakare, the Special Adviser to the Lagos State Governor on Housing, announced plans to enforce the state’s monthly rental scheme by the end of 2024 or early next year.…
Business Local Qatar Airways and Access Bank to Offer Flight Discounts Across Africa March 4, 2024 Ekemini Uba Qatar Airways has joined forces with Access Bank to provide discounts on flights to the bank’s customers across Africa. According to a statement released on Friday, the airline will extend…
Business World NICA Advocates for Inclusive Credit System for Students March 4, 2024 Ekemini Uba The National Institute of Credit Administration (NICA) has urged for the establishment of a credit system that extends access to students and participants in the informal sector, facilitating education and…
Business Market Equity Market Investors Lose N1.55tn March 4, 2024 Ekemini Uba In February, investors in the Nigerian equity market suffered significant losses amounting to approximately N1.55 trillion due to the allure of high yields in the fixed-income market. At the start…
Local Africa Prudential Plc Appoints First Female CEO March 4, 2024 Ekemini Uba Africa Prudential Plc, the pioneering registrar listed on the Nigerian Exchange, has named Catherine Nwosu as its first female Chief Executive Officer, effective March 1. Nwosu’s appointment follows her extensive…
Local Senate to Probe N30tn Loan Spent by Buhari’s Administration March 4, 2024 Ekemini Uba The Senate has announced plans to question officials from the Central Bank of Nigeria (CBN) regarding the utilization of the N30 trillion Ways and Means loan obtained by the Federal…
Business Local African Share of Global Trade Remains Below 3%: Report” March 4, 2024 Ekemini Uba According to a report assessing progress on regional integration in Africa by the Economic Commission for Africa (ECA), the continent’s share of global trade remained below three percent in 2023,…
Local EFCC Uncovers Fresh N17bn Fraud Linked to Ministry of Humanitarian Affairs March 4, 2024 Ekemini Uba Allegations of fraud within the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development continue to escalate as the Economic and Financial Crimes Commission (EFCC) investigating the issue has…
Breaking BREAKING: MTN Nigeria Incurs N740 Billion In Forex Losses, Shareholders Funds Wiped Out March 1, 2024 Ekemini Uba MTN Nigeria Plc has recorded a significant loss before tax amounting to N177.8 billion, attributing the losses to a substantial foreign currency loss of N740 billion. The company’s shareholders’ funds…
Breaking Business Forex Crisis: FG Slaps $10 Billion Fine on Binance March 1, 2024 Ekemini Uba The Federal Government has imposed a $10 billion fine on cryptocurrency platform Binance, accusing it of exacerbating Nigeria’s forex crisis. According to Bayo Onanuga, special adviser to President Bola Tinubu,…
Africa Zambia Plans to Import and Ration Electricity Due to Drought March 1, 2024 Ekemini Uba Zambia is grappling with a severe drought crisis, prompting President Hakainde Hichilema to announce plans to import and ration electricity, as the dry spell significantly affects hydropower generation, the country’s…
Africa Energy Ghana’s Parliament Faces Power Cut Over Unpaid Debt March 1, 2024 Ekemini Uba Ghana’s state-run electricity provider, ECG, took the drastic step of briefly cutting off power to the parliament building, aiming to pressure lawmakers into settling a 23 million Ghanaian cedi ($1.8…
Business World India’s Rice Output to Drop for the First Time in 8 Years- Govt March 1, 2024 Ekemini Uba India anticipates a decline in rice production for the first time in eight years during the 2023/24 season due to below-average rainfall, as stated by the government. The dip in…
Local Tesla Rolls Out New Incentives in China as Price War Escalates March 1, 2024 Ekemini Uba Tesla has unveiled new incentives, including insurance subsidies, in a bid to attract consumers in the world’s largest auto market, where it faces stiff competition from established rivals like BYD.…
Investing World Investors Await UK Spring Budget Amid Election Speculation March 1, 2024 Ekemini Uba As Britain anticipates its Spring budget set for the upcoming Wednesday, investors closely monitor Finance Minister Jeremy Hunt’s balancing act between economic stimulus and fiscal prudence against the backdrop of…
Technology World Facebook Owner Meta Angers Australia with Plan to Stop Paying for News Content March 1, 2024 Ekemini Uba Meta Platforms, formerly known as Facebook, announced its decision to halt payments to Australian news publishers for content appearing on its platform, reigniting tensions with Canberra. Both news publishers and…
World Disney Founders’ Grandchildren Back CEO Bob Iger Against Activist Investors March 1, 2024 Ekemini Uba The grandchildren of Walt and Roy Disney, founders of Walt Disney Co (DIS.N), have voiced their support for CEO Bob Iger and the company’s board, while opposing activist investors seeking…
Local Maritime MainOne Lands 2Africa Subsea Cable in Akwa Ibom State March 1, 2024 Ekemini Uba MainOne, in collaboration with 2Africa, has successfully installed the 45,000-kilometre subsea cable system in Akwa Ibom State, Nigeria. This initiative aims to bridge connectivity gaps by linking Akwa Ibom and…
Local OPay Urges Customers to Link BVN or NIN to Accounts March 1, 2024 Ekemini Uba OPay, a financial services firm, has called on its customers to comply with the Central Bank of Nigeria’s directive by completing the regularization of their accounts. Customers are required to…
Business FRC to Enforce Stricter Codes for Accounting Professionals March 1, 2024 Ekemini Uba The Financial Reporting Council (FRC) has issued a stern warning, indicating its intent to hold accounting professionals and companies accountable for any breaches of its governance codes. Effective immediately, the…
Local Trade Rand Merchant Bank optimistic about $11bn Indo-Nigeria trade March 1, 2024 Ekemini Uba Rand Merchant Bank (RMB) highlights the promising prospects of trade between Nigeria and India, estimated at $11.8 billion, following the recent India-Nigeria Business Forum in Abuja. Dr. Doris Uzoka-Anite, Nigeria’s…
Local NDIC Reimburses Depositors of Rested Banks March 1, 2024 Ekemini Uba The Nigeria Deposit Insurance Corporation (NDIC) has announced the reimbursement of depositors affected by the closure of 179 microfinance and four mortgage banks nationwide. Dr. Bello Hassan, Managing Director of…
Local NCAA Sets Up Committee to Investigate Foreign Airlines’ High Fares March 1, 2024 Ekemini Uba The Nigeria Civil Aviation Authority (NCAA), led by Chris Najomo, has established a 10-man committee to probe foreign airlines regarding exorbitant airfares, aiming to enhance affordability for Nigerian travelers. This…
Local Bill to amend NDIC Act scale second reading at Senate March 1, 2024 Ekemini Uba A Bill seeking to amend the Nigeria Deposit Insurance Corporation (NDIC) Act No. 63 of 2023 to enhance the corporation’s effectiveness, ensure its independence, and align it with current realities,…
Business Crypto Nigeria’s Crackdown on Binance Sparks Concerns for Cryptocurrency Future March 1, 2024 Ekemini Uba Nigeria’s recent crackdown on Binance, a prominent cryptocurrency platform, has ignited concerns regarding the future of cryptocurrency in the country. The government’s actions, which include restricting access to crypto firm…
Local You Can’t Fight Me – Tinubu Dares NLC March 1, 2024 Ekemini Uba President Bola Ahmed Tinubu criticized the recent Nigeria Labour Congress (NLC) protest, cautioning the labor movement against assuming it represents the sole voice of the people. Speaking at the commissioning…
Local Tinubu Directs Cement Companies to Revert to Old Prices- Minister March 1, 2024 Ekemini Uba President Bola Ahmed Tinubu has instructed cement companies to return to previous pricing levels, as disclosed by Minister of Works, Senator David Umahi, after inspecting BUA cement factory in Sokoto.…
Breaking Local House of Rep Cautions Tinubu on Orosanye Report Implementation March 1, 2024 Ekemini Uba The House of Representatives has cautioned the Bola Tinubu-led presidency against hastily implementing the Orosanye Report, urging thorough review before implementation. President Tinubu’s directive for full implementation of the report,…
