World China to support Zambia’s debt restructuring efforts March 26, 2024 Ekemini Uba China has pledged to continue collaborating with all stakeholders to facilitate Zambia’s debt restructuring process, according to a spokesperson from the foreign ministry. While not explicitly endorsing the proposed deal…
Energy Nigeria boosts power grid with new equipment March 26, 2024 Ekemini Uba FGN Power Company, responsible for executing the Presidential Power Initiative (PPI) in Nigeria, has received 10 transformers and 10 Mobile Substations to enhance the nation’s transmission capacity. Kenny Anuwe, the…
Business Market Nigeria’s crude oil grades near $90 on Russia-Ukraine conflict March 26, 2024 Ekemini Uba Nigeria’s oil futures, including Brass River and Qua Iboe, experienced gains on Wednesday due to escalating conflicts in the Middle East and between Russia and Ukraine, coupled with a decreasing…
Business BDC Gets 10k Dollars From CBN, To Sell At N1,269/$ March 26, 2024 Ekemini Uba Leaders of African nations have received a call to action to create a thriving economic environment for talented youth, aiming to reduce migration outside the continent in search of better…
Local Executive Order: Jos business owners lament Impact On Operations March 26, 2024 Ekemini Uba Business owners in Jos, the capital of Plateau state, are expressing frustration over the prohibition of trucks from business areas in the state between 6:00 am and 9:00 pm. They…
Local Customs: cargo clearance drops by N124 To N1,448/$ March 26, 2024 Ekemini Uba The Nigeria Customs Service (NCS) has significantly reduced the exchange rate for cargo clearance and import duties collection from N1,572.5/$ to N1,448.38/$. This marks a decrease of N124.12 from the…
Crypto Binance executive fled Nigeria with smuggled passport – NSA March 26, 2024 Ekemini Uba The National Security Adviser, Nuhu Ribadu, has confirmed the escape of Nadeem Anjarwalla, a suspect in the criminal investigation into Binance’s activities in Nigeria. Anjarwalla reportedly fled custody using a…
Business Local CBN sells $10,000 to each BDCs at N1,251/$1 March 26, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change (BDC) operators, announcing the sale of $10,000 to each BDC at a rate of N1,251/$1. With…
Technology World Xiaomi unveils “SU7” electric car March 25, 2024 Ekemini Uba Xiaomi’s CEO recently revealed plans for the company’s first electric vehicle, the SU7, aiming to make it the most stylish, user-friendly, and intelligent car priced below 500,000 yuan. Orders for…
World USA: TikTok bill faces uncertain fate in the Senate March 25, 2024 Ekemini Uba As the week begins, markets in Europe and globally are experiencing a slow start due to upcoming holidays. Despite the subdued activity, the U.S. is scheduled to release the Federal…
Africa Southern Africa faces food crisis due to Drought March 25, 2024 Ekemini Uba The United States Agency for International Development (USAID) has highlighted a dire situation in southern Africa, with over 20 million people in urgent need of food assistance in early 2024.…
Africa Kenyan villagers build sand dams for water security March 25, 2024 Ekemini Uba In Makueni, Kenya, residents of Kasengela village are taking matters into their own hands to secure water sources by constructing sand dams along dry riverbeds. Using locally available materials like…
Finance Local NDIC calls on EFCC to return recovered funds March 25, 2024 Ekemini Uba The Nigeria Deposit Insurance Corporation (NDIC) has urged the Economic and Financial Crimes Commission (EFCC) to return recovered funds to its coffers. NDIC Managing Director, Bello Hassan, emphasized the importance…
Local FG allocates land for diaspora city project in Abuja March 25, 2024 Ekemini Uba The Minister of Housing and Urban Development, Ahmed Dangiwa, has announced that the Federal Government has allocated 675 hectares of land for the Diaspora City project in the Federal Capital…
Banking Business Local Access bank launches offline banking platform March 25, 2024 Ekemini Uba Access Bank Plc has introduced an offline banking platform called 901.ng to provide customers with an additional channel for conducting transactions and enhancing financial inclusion in Nigeria. The initiative comes…
Local BOI launches palliative food programme, support Nigerians March 25, 2024 Ekemini Uba Launched by the Minister for Industry, Trade and Investment, Dr. Doris Uzoka-Anite, the Bank of Industry (BoI) has initiated a palliative food programme aimed at alleviating the economic hardships faced…
Commodities APWEN urges government action on water challenges March 25, 2024 Ekemini Uba The Association of Professional Women Engineers of Nigeria (APWEN), Lagos Chapter, has called on the government to address water challenges in the country to bolster the resilience of cities. In…
Energy Local Kaduna DisCo warns customers over unpaid bills March 25, 2024 Ekemini Uba The management of Kaduna Electricity Distribution Company has clarified misconceptions surrounding the payment for electricity consumed during Ramadan by residents in Kebbi State. Contrary to speculations, Governor Nasir Idris of…
Business Local $7bn FX: OPS threatens to sue banks over rejected applications March 25, 2024 Ekemini Uba Some businesses within the Organised Private Sector of Nigeria (OPSN) are contemplating legal action against commercial banks for prolonged delays in honoring forex requests. The OPSN is also calling for…
Business Local FG plans joint cable protection, disruption lingers in six countries March 25, 2024 Ekemini Uba The Federal Government has urged West African nations to collaborate in protecting shared telecommunications infrastructure following a recent internet outage affecting the region. Aminu Maida, the Executive Vice Chairman of…
Local Dangote spends N15bn on food intervention programme March 25, 2024 Ekemini Uba Aliko Dangote, President of the Dangote Group, has allocated approximately N15 billion to a food intervention programme launched in Kano. The program aims to distribute over one million 10kg bags…
Business Crypto Local Nigeria tightens regulations on Crypto operators March 25, 2024 Ekemini Uba Nigeria is intensifying its oversight of the cryptocurrency industry by updating regulations for crypto operators, notably involving Binance. The Securities and Exchange Commission (SEC) has proposed significant amendments to the…
Local House of Rep passes bill for enhanced judicial salaries March 21, 2024 Ekemini Uba The House of Representatives has approved a bill aimed at increasing salaries and allowances for judicial office holders in Nigeria. President Bola Ahmed Tinubu submitted the bill to the House…
World Neuralink: Musk’s firm says first brain-chip patient plays online chess March 21, 2024 Ekemini Uba Elon Musk’s brain-chip company, Neuralink, has showcased its groundbreaking technology by enabling its first patient, Noland Arbaugh, to control a cursor on a computer using an implanted device. In a…
World Reddit IPO prices at top range, valued at $6.4 billion March 21, 2024 Ekemini Uba Reddit has priced its shares at the top of the marketed range, valuing the social media platform at $6.4 billion (£5 billion). The company raised $748 million by selling 22…
Local Tinubu places ban on ministers’ foreign trips March 21, 2024 Ekemini Uba President Bola Tinubu has put a temporary stop to ministers, agency heads, and government officials from going on publicly funded trips abroad. This ban will be in place for three…
Local Budget cuts, extend wait for retiree benefits March 21, 2024 Ekemini Uba The reduction in the budget for pensions and retiree benefits in the 2024 budget has led to further delays in paying retirement benefits to Federal Government retirees and deceased employees.…
Agriculture Local Agricultural research spending fails to boost farmer output March 21, 2024 Ekemini Uba Despite the federal government spending N266 billion on agricultural research institutes over the past five years, farmers’ output remains low, according to findings by BusinessDay. The allocation averaged N53.2 billion…
Business investment Local Govt derisking power sector to attract investments– Verheijen March 21, 2024 Ekemini Uba Olu Verheijen, President Bola Tinubu’s energy special adviser, has highlighted ongoing government efforts to reduce risks in the power sector to attract investments. Speaking at the 2024 CERAWeek by S&P…
Banking Business Commodities CBN clarifies fertiliser donation as not new intervention March 21, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) clarified that the recent donation of 2.15 million bags of fertilisers to farmers is not a new intervention but a way to utilize existing…
