Forex policies affecting transborder trade, say traders
The Transborder Traders Association has raised concerns over the impact of the Central Bank of Nigeria’s foreign exchange policies on…
Month: April 2024
All On invests £1m in mobile power for renewable energy solutions
The investment will support Mobile Power’s expansion efforts, particularly the roll-out of the MOPOMax, a high-capacity generator replacement battery designed…
US inflation surges to 3.5%, raises concerns for emerging markets
In a surprising turn, US inflation accelerated beyond expectations in March, reaching 3.5 percent, signaling a setback in efforts to…
Wigwe: Family of Ogunbajo files lawsuit over helicopter crash
The family of Abimbola Ogunbanjo, former Chairman of the Nigerian Exchange Group (NGX Group), has initiated a wrongful death lawsuit…
Dangote says diesel price reduction to cut Nigeria’s inflation
Aliko Dangote, the chairman of Dangote Group, has revealed that his refinery’s initiative to sell diesel at discounted prices is…
Champion Breweries Plc reports 73% drop in profit
Champion Breweries Plc, a prominent Nigerian brewing company, witnessed a significant decline in profit, plummeting by 73.6 percent according to…
Biden and Kishida likely to discuss Texas bullet train project
President Joe Biden is working to bring attention back to a plan to create America’s first high-speed rail system by…
Hong Kong considers expanding investment links with China
The Hong Kong Monetary Authority (HKMA) is exploring the possibility of enhancing investment connections between Hong Kong and mainland China,…
South Korea to invest billions in AI to strengthen industry
South Korean President Yoon Suk Yeol has announced a major investment of 9.4 trillion won ($6.94 billion) in artificial intelligence…
Global stocks steady, metals fly
On Tuesday, global shares showed a mixed performance as investors awaited this week’s U.S. inflation report and an important European…
Nigerian startups raise $160 million in 3 months
Despite a slowdown in funding across the African continent, Nigerian startups have raised an impressive $160 million in the first…
From Pharmacy Student to NAFDAC Director: Moji Adeyeye’s Journey
Moji Adeyeye, the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), has overcome numerous challenges…
Tony Elumelu eyes purchase of Nigerian Premier Football League Club
Renowned Nigerian billionaire Tony Elumelu has shown interest in acquiring a club in the Nigeria Premier Football League (NPFL) following…
Premium Pension AUM rises to N1.134trn
Premium Pension Limited, a leading Pension Fund Administrator (PFA) in Nigeria, achieved significant growth in its Assets Under Management (AUM),…
AI to contribute $1.2 trillion to Africa’s economy by 2030
Microsoft has forecasted that Artificial Intelligence (AI) will contribute approximately $1.2 trillion to Africa’s economy by the year 2030. This…
Low turnout of passengers at airports despite Eid-el-Fitri holiday
Despite the long holiday declared for the Eid-el-Fitri celebration, airports across the country experienced low turnout of passengers, as observed…
CAC places FBN Holdings records on caveat
The Corporate Affairs Commission (CAC) has taken action amid the crisis rocking the board of First Bank of Nigeria (FBN)…
Air Peace denies abandoning passengers at Gatwick Airport
Nigeria’s flag carrier, Air Peace, has refuted claims that it abandoned passengers at Gatwick Airport, London, and closed its counter…
FBN Holdings plans N300bn fresh capital raise
FBN Holdings, a financial holding company, has announced its intention to seek shareholders’ approval to raise an additional N300 billion…
Nigeria to secure $1.05 billion loan backed by oil
Nigeria is set to receive a $1.05 billion syndicated loan backed by oil from the African Import Export Bank next…
UAE Airlines may resume flights to Nigeria before June- Aviation Minister
Mr. Festus Keyamo, the Minister of Aviation and Aerospace Development, has announced that United Arab Emirates (UAE) airlines might restart…
NNPC faces $3 billion debt to fuel traders
The Nigeria National Petroleum Company Limited (NNPCL) reportedly owes approximately $3 billion to fuel traders for imported petrol, according to…
Airport customs records N45.23 billion revenue in Q1
The Murtala Muhammed Airport Command (MMA) of the Nigeria Customs Service (NCS) announced that it generated N45.23 billion from importers…
Zenith Bank reports 202.3% increase in profit
Zenith Bank Plc released its 2023FY results, demonstrating continued strong performance throughout the year. The group’s profit before tax surged…
Tariff Hike: NSE seeks stiff sanctions for defaulting DISCOs
The Nigerian Society of Engineers (NSE) has urged for strict penalties on electricity distribution companies (DisCos) that fail to provide…
Cooking gas prices surge by 38%
The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has soared to N14,150 for a 12.5kg cylinder,…
Nigeria set to receive $1.05 billion syndicated loan backed by oil
The federal government has finalized arrangements to receive a $1.05 billion syndicated loan backed by oil by the end of…
Nigeria’s inflation rate to remain high in 2024 — World Bank
The World Bank has projected a lower inflation rate compared to February 2024, which stood at 31.7 percent. In its…
Forex losses hit currency dealers as CBN slashes BDC rate to N1,117.5/$
Currency dealers expressed concern over mounting losses and decreasing demand for the dollar as the naira continued to appreciate in…
Stock market investors record N623 bn loss
Last week, stock market investors in Nigeria experienced losses amounting to N623 billion as fund managers adjusted their portfolios in…