Africa Egypt Secures IMF Support Package, Reduce Budget Deficit March 11, 2024 Ekemini Uba Egypt has embarked on significant initiatives aimed at decreasing its budget deficit, including the sale of real estate assets and reaching a support agreement with the International Monetary Fund (IMF),…
Africa Senegalese Opposition Coalition Unveils Campaign Platform March 11, 2024 Ekemini Uba A Senegalese opposition coalition, supported by the influential figure Ousmane Sonko, launched its presidential campaign platform on Saturday, outlining ambitious proposals including the creation of a new national currency and…
Africa Central African States Lift Sanctions, Reintegrate Gabon into Regional Bloc March 11, 2024 Ekemini Uba The Economic Community of Central African States (ECCAS) decided to lift sanctions on Gabon and reintegrate it into the regional bloc, marking a significant development six months after suspending its…
World Chinese Regulators Urge Financial Support for China Vanke March 11, 2024 Ekemini Uba Chinese regulators have reportedly convened meetings with financial institutions to address the challenges faced by state-backed property developer China Vanke. Sources familiar with the matter revealed that regulators urged large…
Currency World Yen Strengthens Against Dollar Despite BOJ Policy Shift March 11, 2024 Ekemini Uba The yen saw gains against the dollar on Monday amidst indications that the Bank of Japan (BOJ) may exit negative interest rates at its upcoming policy meeting, contrasting with expectations…
World Australia Poised for Interest Rate Cuts- Macquarie Group CEO March 11, 2024 Ekemini Uba Macquarie Group CEO, Shemara Wikramanayake, forecasts that Australia’s economy is primed for interest rate reductions in 2024, aiming for a “soft landing” following a prolonged period of inflation. Speaking at…
Technology World Nvidia is Sued by Authors Over AI use of Copyrighted Works March 11, 2024 Ekemini Uba Nvidia, renowned for its chips powering artificial intelligence, faces legal action from three authors who claim the company used their copyrighted books without permission to train its NeMo AI platform.…
Local Governors Assures Action on Food Crisis and Economic Hardship March 11, 2024 Ekemini Uba The Nigeria Governors’ Forum (NGF) comprising governors from all thirty-six states has pledged to tackle the challenges of food crisis, economic hardship, and hunger in the nation. They have introduced…
Local Court Orders Final Forfeiture of Exotic Cars ‘Stolen’ from Canada March 11, 2024 Ekemini Uba A Federal High Court in Lagos has issued a final forfeiture order for 36 luxury cars that were reportedly stolen from Canada and brought into Nigeria. The decision was made…
Local Allegations of Budget Padding Cause Panic Among Senators March 11, 2024 Ekemini Uba A former deputy leader of the Senate and current lawmaker from Bauchi State, Abdul Ningi, has stirred up controversy by alleging that the 2024 national budget was padded with approximately…
Local Nigerian Workers Await New Minimum Wage March 11, 2024 Ekemini Uba Lqst Thursday marked the commencement of discussions on the new minimum wage across Nigeria, sparking hope among Nigerian workers. The Tripartite Committee on the National Minimum Wage initiated public hearings…
investment Local Vitafoam Nigeria Plc Shareholders Approve N1.95 Billion Dividend March 11, 2024 Ekemini Uba At the 62nd Annual General Meeting (AGM) of Vitafoam Nigeria Plc in Lagos, shareholders unanimously approved the company’s initial declared dividend of N1.95 billion. Despite the harsh operating environment affecting…
insurance Local African Alliance Vows to Prioritize Stakeholder Satisfaction March 11, 2024 Ekemini Uba African Alliance Insurance reaffirms its dedication to surpassing the expectations of its stakeholders, particularly during these challenging times. The company is actively striving to enhance the well-being of its shareholders…
Local Trade Demand for Transpower, FBNH drive NGX ASI up by 2.61% March 11, 2024 Ekemini Uba Nigeria’s stock market witnessed a resurgence of positive sentiments fueled by strong demand for shares of Transpower, FBN Holdings, and MTNN. The All Share Index (ASI) recorded a notable 2.61%…
Local President Tinubu Orders Return of Seized Food Items to Owners March 11, 2024 Ekemini Uba President Bola Tinubu has instructed the Nigeria Customs Service (NCS) to return food items seized at various border communities to their rightful owners, with the condition that the items must…
Local Bank of Industry Disburses $6.02 Million to Women March 11, 2024 Ekemini Uba The Bank of Industry (BOI) has announced the disbursement of $6.02 million out of its $10 million investment commitment to Alitheia Fund, aimed at supporting gender equality and enhancing women’s…
Business Local Exchange Disparity Narrows to 0.4% March 11, 2024 Ekemini Uba Following recent market reforms and interventions by the Central Bank of Nigeria (CBN), there are indications of improvement in the exchange rate situation, with the disparity between the Nigerian Autonomous…
investment Local AfDB President Unveils $25 Billion Agriculture Investment Plan March 11, 2024 Ekemini Uba Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), is committed to tackling Africa’s food insufficiency challenge head-on. He has developed strategic investment frameworks tailored to address specific food…
Local Nigeria’s Inflation to Reach 30.3% by Year’s End- EIU March 11, 2024 Ekemini Uba The Economist Intelligence Unit (EIU), a renowned London-based firm specializing in forecasting economic trends and political dynamics worldwide, has projected that inflation in Nigeria will surge to 30.3% before the…
Local PenCom Denies Granting N10 Trillion Loan to FG March 11, 2024 Ekemini Uba Mrs. Aisha Dahir-Umar, the Director-General of the National Pension Commission (PenCom), refuted reports claiming that the commission provided a N10 trillion loan to the federal government, describing such reports as…
Local Airline Operators Face Decline in Domestic Passengers March 11, 2024 Ekemini Uba Nigeria’s airline operators are experiencing a challenging period characterized by a decline in the number of domestic passengers, as revealed by recent findings from Daily Trust. Airport terminals across the…
Local Tinubu Signs Executive Orders on Oil, Gas Reforms March 7, 2024 Ekemini Uba President Bola Tinubu has signed new rules to make Nigeria a prime destination for investments in the oil and gas industry in Africa. He made this decision after discussing extensively…
World African Startups Raised $217 Million in February 2024 -Report March 7, 2024 Ekemini Uba In February 2024, startups across Africa received a remarkable $217 million in investments, marking a significant surge of 182% from January’s $77 million. The data comes from ‘Africa: The Big…
Local No Worker Can Survive in Nigeria with Less than N100,000 Monthly – House of Reps March 7, 2024 Ekemini Uba The Nigerian House of Representatives has expressed concern over the inadequate minimum wage for workers in the country, asserting that a monthly salary below N100,000 is insufficient for any worker…
Business ‘AMCON’s New Leadership will Improve Debt recovery’ March 7, 2024 Ekemini Uba Raheem Ajayi, a public commentator, believes that the newly appointed Managing Director of the Asset Management Corporation of Nigeria (AMCON), Gbenga Alade, will significantly enhance the organization’s debt recovery efforts.…
Banking Business CBN Issues Warning to Mortgage Banks and Financial Institutions March 7, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) has issued a stern warning to primary mortgage banks (PMBs), development finance institutions, and microfinance banks regarding the timely submission of regulatory returns. In…
Africa Africa’s gas production fields declining, AEC warns March 7, 2024 Ekemini Uba NJ Ayuk, the Executive Chairman of the African Energy Chamber, has raised an alarm about the declining state of many of Africa’s existing gas production fields. In The State of…
Local Technology Firm Launches Gas Initiative for Boat Operators March 7, 2024 Ekemini Uba Blue Gas Marine, a US-based company, has introduced compressed natural gas (CNG) for operating passenger boats and ferries in Nigeria. Layi Solesi, CEO of Ril Hydrocraft Limited, the distributor of…
Local 24 States Can’t Pay Salaries without FG Allocation – Budgets March 7, 2024 Ekemini Uba A recent investigation by The PUNCH reveals that at least 24 states in Nigeria may struggle to pay workers’ salaries this year without waiting for federal allocations. Analysis of the…
Commodities Local Trade Toilet Paper, Soap Among Nigeria’s Top Import from UK in 2023 March 7, 2024 Ekemini Uba Here’s a breakdown of the top 5 imported goods from the United Kingdom to Nigeria in the last six months of 2023, as per the 2023 UK-Nigeria trade and investments…
