Fidelity Bank chair to earn N60m per annum
Big Pay Day for Fidelity Bank BossesFidelity Bank shareholders just voted to give their chairman a big raise! The chairman…
Month: May 2024
Operators kick as FRSC plans prosecution of reckless drivers
Taxi drivers in Nigeria are unhappy about a new government plan to punish reckless drivers with jail time. They worry…
World Bank Approves $750 Million for Mini-Grids
Great news for Nigerians living in rural areas! The World Bank just approved a $750 million loan to build 1,200…
Naira slide pushes Dangote diesel to N1,100/litre
The price of diesel from the Dangote Refinery has jumped! It went from N940 per litre in April to N1,100…
Minimum wage: FG, Labour talks deadlocked, NLC defends N615,000 demand
There are several important stories making the news in Nigeria today. The biggest one is that talks between the government…
CBN Raises Interest Rate to 26.25%
The Central Bank of Nigeria (CBN) just announced a rise in interest rates to 26.25%. This means it will be…
Big Meeting Planned Between Korea and Africa!
There’s a big meeting planned between Korea and Africa in early June! This summit is a chance for these two…
Ministry of Marine and Blue Economy set to Harness the Atlantic Ocean
Nigeria has a long coastline on the Atlantic Ocean, packed with resources and potential. To take full advantage of this,…
Stanbic IBTC Holdings Plans to Raise N550 Billion in New Capital
Shareholders of Stanbic IBTC Holdings Plc have approved a plan to raise N550 billion in new capital. The company will…
CBN Faces Tough Choices On Interest Rate, Inflation, Others
The Central Bank of Nigeria (CBN) is at a crossroads, deciding whether to continue raising the benchmark interest rate or…
Foreign Reserves Build Up Despite Naira Volatility
Nigeria’s foreign exchange reserves have shown a steady recovery, adding $195.01 million to reach $32.64 billion by the end of…
Iranian President Ebrahim Raisi Dies in Helicopter Crash
Iranian President Ebrahim Raisi died in a helicopter crash, according to the Islamic Republic News Agency. The accident occurred while…
CBN Withdraws Circular on Cybersecurity Levy Collection
The Central Bank of Nigeria (CBN) has retracted its directive that mandated banks and payment service providers (PSPs) to collect…
Afreximbank Reports Net Interest Income Up to 31.73% in Q1
The African Export-Import Bank (Afreximbank) has released its financial results for the first quarter of 2024. Net Interest Income increased…
MTN Nigeria CEO Defends Board of Directors’ Remuneration
MTN Nigeria’s CEO, Karl Toriola, has defended the remuneration of the company’s Board of Directors despite the tough economic climate.…
TAJBank Wins Best Islamic Bank in Nigeria Award for 2023
TAJBank Limited, known for its rapid growth in non-interest banking services, has been awarded the “Best Islamic Bank in Nigeria…
Only 20% Registered Entities Pay Annual Returns – CAC RG
The Registrar General of the Corporate Affairs Commission (CAC), Hussaini Magaji (SAN), revealed that only 20% of registered entities in…
U.S. Factory Production Falls in April
U.S. factory production saw an unexpected decline in April, primarily due to a drop in motor vehicle output. According to…
China’s April industrial output rises 6.7% but Retail Sales Growth Slows
China’s industrial output grew by 6.7% year-on-year in April, showing a significant rise from the 4.5% growth in March. This…
Nigeria Overtakes South Africa as Indonesia’s Top African Investment Destination
Nigeria has become Indonesia’s top investment destination in Africa, surpassing South Africa, with a trade balance exceeding $4.7 billion in…
Microsoft offers cloud customers AMD alternative to Nvidia AI processors
Microsoft is giving cloud computing customers a new option for powering artificial intelligence (AI). They’re offering chips made by AMD,…
Electricity: Most DisCos are technically insolvent— NERC
During the 8th Africa Energy Market Place 2024 in Abuja, the Chairman of the Nigerian Electricity Regulatory Commission (NERC), Engr.…
Olukoyede: Some youths trading crypto unaware they’re being used to fund terrorism
Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), raised concerns about the unwitting involvement of some youths…
FAAC Disburses N1.2trn Revenue To FG, States, LG For April
During the May 2024 meeting of the Federation Accounts Allocation Committee (FAAC), Nigeria disbursed a total of N1,208.081 billion in…
FIRS falls short of N4.8trn target, generates N3.94trn in Q1
The Federal Inland Revenue Service (FIRS) did not meet its tax revenue target for the first quarter of 2024, collecting…
Atedo Peterside Criticizes Government’s N90 Billion Hajj Subsidy
Atedo Peterside, the founder of Stanbic IBTC Bank, has criticized the federal government’s decision to provide a N90 billion subsidy…
Concerns Rise as Dollar Reaches N1,533.99 in Official Market
Nigerians are increasingly worried as the dollar reached N1,533.99 in the official market, creating uncertainty about the country’s economic stability.…
Emirates Returns To Nigeria After 25 Months
Emirates, the flag carrier of the United Arab Emirates (UAE), will resume daily flight services between Lagos and Dubai starting…
Tax Burden Threatening Participation In AfCFTA – MAN
The Manufacturers Association of Nigeria (MAN) has raised concerns about the impact of multiple taxation on the operations of manufacturers…
Customs Board Confirms Appointment Of 5 DCGs, 8 ACGs
The Nigeria Customs Service Board (NCSB) has announced the appointment of five Deputy Comptrollers-General (DCGs) and eight Assistant Comptrollers-General (ACGs)…