Naira depreciates against Dollar, hits N1,234 at official market
The value of the Nigerian naira dropped against the United States dollar, reaching N1,234 at the official foreign exchange market…
Day: April 23, 2024
International Breweries shareholders approve $379.9m loan-to-equity conversion
During an Extraordinary General Meeting, shareholders of International Breweries endorsed a $379.9 million loan from its majority shareholder, AB InBev…
Naira rebound leads to drop in rice prices across Nigeria
The recent strengthening of the naira against the dollar has brought relief to consumers, with the price of a 50-kilogram…
Sportsbet.io welcomes three new ambassadors to Its team
Yolo Group’s Sportsbet.io has expanded its team of ambassadors with three new additions, joining the likes of Nwankwo Kanu, Brett…
Sterling, FCMB, Stanbic see biggest jump in FX gain
While big banks grabbed attention for foreign exchange gains last year, Sterling Financial Holdings Plc, FCMB Group Plc, and Stanbic…
Diop to replace Chaudhuri as World Bank country director for Nigeria
Ndiame Diop, a Senegalese national, is set to assume the position of World Bank Country Director for Nigeria, replacing Shubham…
Naira gains to N1,250/$ after CBN sells fresh dollars to BDCs
The Central Bank of Nigeria (CBN) has initiated another round of discounted dollar sales directly to Bureau De Change (BDC)…
Nigeria sees 16% drop in POS transactions on bank transfers
Point-of-Sale (POS) transaction values in Nigeria experienced a notable downturn in the first quarter of 2024, witnessing a decline of…
NNPC resume crude oil production at Awoba field after shutdown
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner, Newcross Exploration and Production Ltd., have restarted…
World bank halts $150m funding for Tanzania tourism project
The World Bank has suspended funding for a $150 million tourism project in Tanzania following allegations of severe harm inflicted…
Turkey to commence oil drilling in Somalia from 2025
Somalia has announced that Turkey will begin oil drilling operations along the country’s extensive coastline starting next year, as confirmed…
Microsoft introduces smaller AI model
Microsoft (MSFT.O) unveiled Phi-3-mini, a cost-effective small language artificial intelligence model aimed at performing tasks like content creation and social…
Why dollar is battering euro, Japanese yen and Chinese yuan
The resurgence of the US dollar has caught global financial markets off guard in 2024, with the US dollar index…
JAMB to reimburse fees for visually-impaired UTME candidates
The Joint Admissions and Matriculation Board (JAMB) has announced plans to reimburse fees paid for forms by visually-impaired candidates of…