Local EFCC Reveals 70% of Financial Crimes Linked to Banking Sector March 5, 2024 Ekemini Uba During the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria in Abuja, Ola Olukoyede, Chairman of the EFCC, disclosed that approximately…
Local Navy Apprehends Ghanaian Vessel for Alleged Crude Oil Theft March 5, 2024 Ekemini Uba The Nigerian Navy announced the arrest of a Ghanaian vessel, Motor Tanker SWEET MIRI, along with its 13-member crew, suspected of crude oil theft under Operation Delta Sanity. The crew…
Local Binance Executives In NSA Custody, Can’t Attend N’Assembly Hearing – Lawyer March 5, 2024 Ekemini Uba The House of Representatives demanded the arrest of top executives of Binance Holdings Limited, a cryptocurrency exchange platform, over allegations of fraud, terrorism financing, money laundering, and tax evasion. Binance…
Local Aliko Dangote Renames Road after Late Herbert Wigwe March 5, 2024 Ekemini Uba Aliko Dangote, the wealthiest black man globally, announced the renaming of the road leading to the Dangote Oil Refinery in Lagos State after the late former CEO of Access Holdings,…
Local Nigerian Police Ban Use of POS Transactions in Stations March 5, 2024 Ekemini Uba Inspector-General of Police, Kayode Egbetokun, has prohibited the use of Point-of-Sales (POS) and other electronic mobile money transaction devices within police stations nationwide. The ban comes in response to public…
Local IMF Urges Nigerian Government to Address Widespread Hunger March 5, 2024 Ekemini Uba The International Monetary Fund (IMF) has called on the Nigerian government to take immediate action to combat widespread hunger while acknowledging the country’s challenging economic outlook. Following its 2024 Article…
Local Nigeria’s Oil Production Faces OPEC Cut Hurdle March 5, 2024 Ekemini Uba Nigeria, Africa’s largest crude oil producer, confronts challenges in its oil production amid OPEC and its allies’ decision to extend output cuts for three months. The move, aimed at stabilizing…
Breaking Final Farewell to Herbert Wigwe: Political and Business Leaders Pay Tribute March 5, 2024 Ekemini Uba The Eko Hotel in Lagos witnessed an evening filled with deep emotions as political and business leaders, friends, family, and associates gathered to bid their final farewells to the late…
Currency World Naira Strengthens to N1,534.9/$1 on Third Consecutive Day March 5, 2024 Ekemini Uba yThe exchange rate between the naira and the dollar continued its upward trend for the third consecutive day, closing at N1,534.9/$1 on the official market. This marks the strongest level…
Local Fintech Firm Brass to Temporarily Disengage Staff Due to Economic Realities March 5, 2024 Ekemini Uba Fintech company Brass has revealed plans to temporarily disengage an unspecified number of its staff, citing current economic challenges as the reason. CEO Sola Akindolu announced the decision on Monday,…
Local FG to Release 58,500 Metric Tonnes of Rice to Stabilize Market March 5, 2024 Ekemini Uba The Federal Government plans to release approximately 58,500 metric tonnes of milled rice to the market as a measure to stabilize prices. Agriculture Minister Sen. Abubakar Kyari revealed this initiative,…
Local Nigeria, others to Benefit from UK’s £37.3m Mobile for Development program March 5, 2024 Ekemini Uba The UK government has committed £37.3 million to support the Mobile for Development Program, benefiting Nigeria and other developing countries. Development Minister Andrew Mitchell announced the funding at the 2024…
Business Local Transcorp Power Starts First Day of Trading Gaining 10% March 5, 2024 Ekemini Uba Transcorp Power Plc made its debut on the Nigerian Exchange on Monday, March 4th, experiencing a remarkable 10% increase and closing at a share price of N264 per share. This…
Local CCECC Resumes Work on Enugu-Port Harcourt Dual Carriageway After Termination Notice Withdrawal March 5, 2024 Ekemini Uba The China Civil Engineering Construction Corporation Ltd (CCECC) has recommenced work on section 4 of the Enugu-Port Harcourt dual carriageway following the Federal Government’s withdrawal of a previous termination notice.…
World China Vows to ‘Transform Economy, Sets Growth target March 5, 2024 Ekemini Uba Chinese Premier Li Qiang unveiled an ambitious economic growth target of around 5% for 2024 during his maiden work report at the annual meeting of the National People’s Congress. He…
World UK’s Foxtons Forecasts Resilience in Lettings Business March 5, 2024 Ekemini Uba Foxtons (FOXT.L) anticipates resilience in its lettings business following a marginal rise in annual profit, buoyed by the strength of its rental segment amidst subdued property sales activity. The surge…
World Bostic: No Urgency to Cut Interest Rates Given US Economy’s Strength March 5, 2024 Ekemini Uba Atlanta Fed President Raphael Bostic emphasized that the U.S. Federal Reserve faces no immediate need to reduce interest rates, citing a “prospering” economy and job market. While Bostic acknowledged the…
Local South Africa Business Activity Picks Up in Feb. PMI survey Shows March 5, 2024 Ekemini Uba In a positive turn, South African private sector activity expanded in February for the first time in six months, fueled by increased staffing and purchasing levels amidst stronger confidence, according…
World Asian Stocks Slide as China’s Parliament Session Disappoints Investors March 5, 2024 Ekemini Uba Most Asian stocks experienced declines on Tuesday, with Hong Kong leading the downturn, as the commencement of China’s week-long annual session of parliament failed to impress investors with substantial stimulus…
World Former Twitter Executives Sue Elon Musk for Unpaid $128 Million March 5, 2024 Ekemini Uba Four former top Twitter executives, including former CEO Parag Agrawal, have collectively sued Elon Musk for over $128 million in unpaid severance, as revealed in a lawsuit filed in federal…
World Thales Reports Strong Performance with 11% Increase in Operating Profit March 5, 2024 Ekemini Uba France’s Thales announced a robust performance for 2023, with an 11% underlying increase in operating profit and 8% higher sales, driven by a resurgence in the civil aerospace market. Despite…
World Europe to Battle with US for Aluminium March 4, 2024 Ekemini Uba European and U.S. buyers are poised to fiercely compete for aluminium from Middle Eastern sources if the European Union moves forward with a ban on Russian metal in the coming…
World Bitcoin Bursts Above $65,000, Record High Comes into View March 4, 2024 Ekemini Uba Bitcoin soared to a two-year high on Monday, surpassing $65,000 fueled by a surge of investment that brought it close to its all-time highs. The cryptocurrency reached a session peak…
Europe World EU Fines Apple $2 Billion for App Store Antitrust Violation March 4, 2024 Ekemini Uba Brussels levied a historic fine of 1.84 billion euros ($2 billion) against Apple (AAPL.O) on Monday, marking the tech giant’s first-ever antitrust penalty from the European Union. The fine stemmed…
World EU Countries Split Over Support for Nuclear Energy March 4, 2024 Ekemini Uba Divergent views on nuclear energy policy among European Union member states were on display Monday, with France spearheading one camp advocating for nuclear technology while Austria and Germany led another…
World Valero Joins Summit’s Carbon Capture Project March 4, 2024 Ekemini Uba Valero Energy Corp (VLO.N) has partnered with Iowa-based Summit Carbon Solutions in its proposed carbon-capture and storage project, as announced by the private company on Monday. Valero intends to transport…
World EU Pushes for Fossil Fuel Industry Contribution to Climate Finance March 4, 2024 Ekemini Uba The European Union (EU) is poised to advocate for the fossil fuel industry to contribute to funding efforts aimed at combating climate change in poorer countries, according to a draft…
World Blackwells Capital Calls for Stronger Strategy, Disney Seeks Board Seats March 4, 2024 Ekemini Uba Investor Blackwells Capital has highlighted concerns over Walt Disney’s performance, citing the lack of a robust content and technology strategy, as well as governance and transparency issues. The investment firm…
Europe Investing Exor Acquires 10.1% Stake in Clarivate, With Potential Increase to 17.5% March 4, 2024 Ekemini Uba Italy’s Agnelli family, through its investment arm Exor, has acquired a 10.1% stake in Clarivate, a New York-listed information services provider. The companies announced on Monday that Exor has the…
Trade World U.S. Funding Legislation Blocks China from Buying Oil from Strategic Petroleum Reserve March 4, 2024 Ekemini Uba The funding legislation introduced by congressional leaders on Sunday includes a provision to prevent China from purchasing oil from the Strategic Petroleum Reserve (SPR). This measure reflects a bipartisan consensus…
