Business Local MTN and Airtel Increase Investments Despite Economic Challenges March 7, 2024 Ekemini Uba Despite Nigeria’s economic challenges, two major telecommunication giants, MTN Nigeria Communications Plc and Airtel Africa Plc, bolstered their investments in the country in 2023. The financial reports reveal a combined…
Banking Local Banks Raise Lending Rates Following CBN’s Record MPR Hike March 7, 2024 Ekemini Uba In response to the Central Bank of Nigeria’s (CBN) significant increase in the Monetary Policy Rate (MPR), Nigerian banks have begun raising their lending rates. Zenith Bank, the largest bank…
Local Edun Blames Inflation on ‘Eight Years of Printing Money without Productivity’ March 7, 2024 Ekemini Uba Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has attributed the current inflation in Nigeria to eight years of printing money without corresponding productivity under the…
Business Local SEC Introduces Guidelines for Digital Asset Service Providers March 7, 2024 Ekemini Uba The Securities and Exchange Commission (SEC) has announced the development of new guidelines for licensing, registration, and screening of digital and virtual asset service providers (VASPs). The SEC submitted the…
Local Reps Move to Establish National Tax Crimes Commission March 7, 2024 Ekemini Uba The House of Representatives has moved forward a bill for the establishment of a National Tax Crimes and Oversight Commission, aiming to address revenue leakages arising from non-payment and underpayment…
Technology World Former Google Engineer Indicted for Stealing AI Secrets to Aid Chinese Companies March 7, 2024 Ekemini Uba A former Google software engineer, Linwei Ding, also known as Leon Ding, has been indicted in California for allegedly stealing trade secrets related to artificial intelligence from Google. The 38-year-old…
Africa Business South Africa’s Current Account Deficit Widens Sharply in Fourth Quarter March 7, 2024 Ekemini Uba South Africa’s current account deficit significantly expanded in the fourth quarter of 2023, reaching 2.3% of gross domestic product (GDP) compared to a revised 0.5% in the previous quarter, according…
Africa Currency Egyptian pound stable after devaluation, IMF deal March 7, 2024 Ekemini Uba Egypt’s currency remained stable at around 49.5 pounds to the dollar as the market opened on Thursday, following the central bank’s decision to let the currency plunge and shift to…
investment Local Airtel Buys Back 991,861 Shares from Citigroup March 6, 2024 Ekemini Uba Airtel Africa recently made a significant move in the stock market by purchasing nearly 992,000 units of its shares valued at $0.50 each from Citigroup Global Markets on the London…
Breaking Local Abdulwaheed Odusile Appointed as CEO of KAFTAN Television March 6, 2024 Ekemini Uba Qbdulwaheed Odusile, the former Commissioner for Information and Strategy in Ogun State, has been appointed as the new Chief Executive Officer (CEO) of KAFTAN Television by its Board of Directors.…
Local Evercare Hospital Partners with MED-EL Electronics to Address Childhood Hearing Impairment March 6, 2024 Ekemini Uba Evercare Hospital, in collaboration with MED-EL Electronics, has entered into a Memorandum of Understanding aimed at addressing hearing impairment in children under the age of five during the signing ceremony,…
Business Local Trade Transcorp Power, FBN Holdings lift Market Cap by N194bn March 6, 2024 Ekemini Uba The Nigerian Exchange witnessed a significant N194 billion gain in market capitalization on Tuesday, largely propelled by the strong performance of newly listed stock Transcorp Power, alongside its parent company…
Business Nigerian Exchange Tops Africa with 33.70% Gain March 6, 2024 Ekemini Uba “The Nigerian Exchange (NGX) has emerged as Africa’s leading exchange in the first two months of 2024, boasting an impressive 33.70 percent returns for investors. A statement from the NGX…
Business Local BIC Achieves Double-Digit Revenue Growth March 6, 2024 Ekemini Uba BIC, a leading manufacturing corporation known for its stationeries, lighters, and shavers, has reported a substantial double-digit revenue growth across its operations in West Africa for the year ending December…
Local Stakeholders Push for Private Terminal Involvements in Regional Flights March 6, 2024 Ekemini Uba The delay in government approval for the use of Murtala Muhammed Airport Terminal Two (MMA2) for regional flights is causing concern among aviation stakeholders. They are urging the government and…
Local Trade Naira’s Official Exchange Rate Falls by 4.26% March 6, 2024 Ekemini Uba The official exchange rate of the naira against the dollar concluded its three-day winning streak, experiencing a significant decline of 4.26% to N1602.43 per US dollar on Tuesday, March 5,…
Local Tinubu Says his Administration Has Attracted $30 Billion FDI Commitments in 9 Months March 6, 2024 Ekemini Uba President Bola Tinubu disclosed that his administration has secured $30 billion in Foreign Direct Investment (FDI) commitments within the initial nine months of his tenure, bolstering Nigeria’s economy. He made…
World Libya’s Central Bank Governor Calls for Unified Government March 6, 2024 Ekemini Uba Sadiq Kabir, the governor of Libya’s central bank, announced the devaluation of the dinar currency and urged the approval of a new unified government by the parliament’s speaker, intensifying his…
Business Local Dangote Plans Oil Trading Arm for Nigerian Refinery, Sources Say March 6, 2024 Ekemini Uba Africa’s wealthiest individual, Aliko Dangote, is reportedly considering establishing an oil trading arm, possibly based in London, to oversee crude and products supply for his new refinery in Nigeria, according…
World Oil Prices Rebound Despite Demand Growth Concerns in China, U.S March 6, 2024 Ekemini Uba Oil prices experienced a modest rebound on Wednesday following extended declines, as indications of supply tightness due to output cuts by major producers outweighed concerns about demand growth in China…
Stock World Asia stocks climb; Gold, Bitcoin Drift after Hitting Record Highs March 6, 2024 Ekemini Uba Asian stocks saw gains on Wednesday as traders anticipated policy indications from Beijing during its week-long annual parliamentary session. Investors were hopeful for potential stimulus measures after a previous lack…
Local Report Urges Safe Dismantling of Shell’s Infrastructure March 6, 2024 Ekemini Uba A report on the environmental impact of multinational companies in Nigeria stresses the need for Shell to safely dismantle its old infrastructure or cover the costs of remov.al from the…
World Waymo Launches Driverless Passenger Services in Austin, Texas March 6, 2024 Ekemini Uba Alphabet’s Waymo announced on Tuesday its commencement of driverless passenger services for its employees in Austin, Texas, starting Wednesday. Waymo intends to extend its ride-hailing program, Waymo One, to the…
Local Power Outage Disrupts National Assembly Proceedings March 6, 2024 Ekemini Uba A significant power outage at the National Assembly on Tuesday caused delays and disruptions to crucial legislative activities. The Senate plenary couldn’t commence at its scheduled time of 11 am,…
Local EFCC Intercepts 21 Trucks Loaded with Smuggled Goods March 6, 2024 Ekemini Uba Operatives of the Maiduguri Zonal Command of the Economic and Financial Crimes Commission (EFCC) intercepted 21 trucks loaded with food and non-food items destined for N’djamena, Chad Republic, Central African…
Local Google Africa’s Boss Wins Silverbird Awards March 6, 2024 Ekemini Uba Alex Okosi, the Managing Director of Google Africa, was awarded the Iconic Pioneer Award at the 2023 Silverbird Man of The Year Awards held in Lagos. Okosi was lauded for…
Business Local Trade Binance Discontinues Naira Services Amid Government Scrutiny March 6, 2024 Ekemini Uba Binance, a major crypto exchange, announced the discontinuation of its services supporting the Nigerian naira (NGN) on its platform, effective from Tuesday. The decision comes amidst accusations of manipulating the…
World Tesla’s Halts Production in Germany After Arson Attack March 6, 2024 Ekemini Uba Tesla’s European Gigafactory near Berlin has ceased operations until further notice following what CEO Elon Musk described as an “extremely dumb” suspected arson attack nearby, leaving the facility without power…
Africa Ghana Faces $3.8 Billion Funding Cut Over Anti-LGBTQ Bill March 5, 2024 Ekemini Uba The Ghanaian government stands to lose $3.8 billion in World Bank funding due to the recent passage of an Anti-LGBTQ bill by parliament. The finance ministry has urged President Nana…
Local Abuja Businessman Reacts As Hoodlums Invade, Loot His Warehouse March 5, 2024 Ekemini Uba Murtala Ibrahim Gusau, an Abuja-based businessman, responded to the invasion of his warehouse by suspected hoodlums in the Karmo area of Abuja. The incident, which occurred around 9 am, saw…
