NGX earns N6.959 billion revenue from transaction fees, treasury investments
The Nigerian Exchange Group Plc saw a significant increase in revenue for the 2023 financial year, generating N6.959 billion from…
Month: May 2024
Netherlands Overtakes India as Nigeria’s Second-Largest Trade Partner in 2023
The Netherlands has surpassed India to become Nigeria’s second-largest trade partner in 2023, according to the National Bureau of Statistics…
South Africa’s MTN service revenue falls, lowers capex target
MTN Group, Africa’s largest telecommunications operator, has disclosed an 18.8% decline in its first-quarter service revenue, largely influenced by the…
FG Plans to Empower 5,000 NYSC Members with N10 Million Each for Entrepreneurial Ventures
The Federal Government has announced a plan to empower at least 5,000 members of the National Youth Service Corps (NYSC)…
Nigeria to Navigate Economic Rivalry between US, China, and Russia, says Foreign Minister
Nigeria’s Foreign Minister, Yusuf Maitama Tuggar, highlighted Nigeria’s stance on managing economic competition between global powers like the United States,…
Crypto Analyst Warns of Bitcoin Panic Sell-Off if Price Falls Below $60,000
Renowned crypto analyst and FX Pro trader, Alex Kuptsikevich, has issued a cautionary note, suggesting that Bitcoin might face a…
TotalEnergies To Empower 100 African Startups
TotalEnergies is gearing up to support 100 startup businesses across 32 African countries in the 4th edition of the ‘Startupper…
UBS CEO says Switzerland should not “overshoot” with capital demands
UBS CEO Sergio Ermotti has responded to criticism that the bank has grown too large for Switzerland, and has dismissed…
Euro zone banks have reduced their exposure to Russia by half ECB’s Buch says
The European Central Bank (ECB) revealed that euro zone banks have significantly reduced their exposure to Russia by more than…
SoftBank Reports Quarterly Profit
SoftBank Group, a big technology company from Japan, made a profit of 328.9 billion yen (which is about $2.11 billion)…
Amazon to invest $1.3 bln in France, create 3,000 jobs
Amazon, a big company known for online shopping, announced that it will invest over 1.2 billion euros (which is about…
Dubai’s Emirates airline posts record full-year profit
Dubai’s Emirates airline had a fantastic year, reporting a full-year profit of 17.23 billion dirhams (which is about $4.69 billion).…
UK Employers Plan 4% Wage Increase
According to a recent survey, British employers are expecting to raise wages by 4% over the next year, which is…
U.S. says construction industry will need extra 501,000 jobs
The U.S. Bureau of Labor Statistics forecasts around 646,100 job openings each year in the construction sector from 2022 to…
FG eyes new visa application process in weeks to improve accessibility – Minister
The Minister of Interior, Olubunmi Tunji-Ojo, announced that the Federal Government of Nigeria is working on revising the country’s visa…
Interpol Nigeria boosts cybersecurity with digital asset training
In response to the increasing cases of cybercrimes in Nigeria, cybersecurity experts, along with the Nigerian Interpol and local intelligence…
Trump faces potential $100 million tax setback over Trump Tower
Former President Donald Trump may face a financial setback of around $100 million due to improper tax deductions linked to…
Female techpreneur wins N12 Million prize in ARM Competition
Rita Idehai, a female innovator and techpreneur, has won the prestigious Deji Alli ARM Young Talent Award (DAAYTA) 2024 for…
935 BDC Operators Get CBN’s Forex In NorthWest
The Central Bank of Nigeria (CBN) has provided foreign exchange (forex) to 935 eligible Bureau De Change (BDC) operators in…
TotalEnergies To Empower 100 African Startups
TotalEnergies is gearing up to support 100 startup businesses across 32 African countries in the 4th edition of the ‘Startupper…
NNPC, Natural Oilfield Services Begin Oil Production in Akwa Ibom
Nigerian National Petroleum Company Exploration and Production Limited (NNPCL) and Natural Oilfield Services Limited (NOSL) have announced the commencement of…
NGX lists N4.08bn AVA Infrastructure Fund
The Nigerian Exchange Limited has recently added the AVA Infrastructure Series 1 Fund, worth N4.08 billion, to its trading platform.…
FCMB Profit increases by 192.6% to N31.3bn in Q1
FCMB Group’s profit before tax has seen a massive surge of 192.6% to N31.3 billion in the first quarter of…
Banks cut loans to govt by 73% in March
Commercial lenders significantly reduced loans to the three tiers of government by 73.18% to N19.59 trillion in March 2024 from…
Capital Market Declines by 1.36%
The Nigerian capital market experienced a 1.36% decline last week, attributed to losses by key equities including PZ Cussons, McNichols,…
National, state assemblies to spend N724bn in 2024
An analysis of the 2024 budgets of the National Assembly, state assemblies, and their agencies reveals a total expenditure of…
Labour Begins Nationwide Protests Against Electricity Tariff Hike
Organised labour is set to commence nationwide protests today over the recent electricity tariff hike and removal of subsidy in…
Cybersecurity levy mistimed, should be targeted at the rich, not the poor – NESG
The National Economic Summit Group (NESG) has raised concerns about the timing of the cybersecurity levy directive issued by the…
IMF asks CBN to stop waivers for banks
The International Monetary Fund (IMF) has advised the Nigerian government against proposed amendments to the Act establishing the Central Bank…
NPA Introduces E-tags for Improved Cargo Delivery
The Nigerian Ports Authority (NPA), in partnership with Truck Transit Parks Limited (TTP), has initiated the implementation of Electronic tags…