Business Banks to Implement 0.5% Cybersecurity Levy on Electronic Transfers May 7, 2024 Ekemini Uba In response to directives from the Central Bank of Nigeria (CBN), banks across the country will soon introduce a 0.5 percent cybersecurity levy on electronic transfers. The announcement came through…
Business Seplat to deliver 13 new oil, gas wells in 2024 May 7, 2024 Ekemini Uba Seplat Energy Plc has revealed its drilling program for 2024, aiming to deliver 13 new oil and gas wells across its operated and non-operated assets. The company disclosed this information…
Trade World UK-Nigeria Bilateral Trade Reaches £7 Billion May 7, 2024 Ekemini Uba Richard Montgomery, the British High Commissioner to Nigeria, has disclosed that bilateral trade between Nigeria and the UK has surged to £7 billion. Nigeria imported approximately £4 billion worth of…
Business Nestle Grows Sales By 43%, Earns N183.5bn In Q1 May 7, 2024 Ekemini Uba Nestle Nigeria Plc has recorded a significant 43.4 percent Year-on-Year increase in revenue for the first quarter ended March 31, 2024 (Q1’24). Despite this positive growth, the company experienced a…
Banking Business Cash deposit in banks increase by 66% May 7, 2024 Ekemini Uba Customers’ deposits in Nigeria’s leading deposit money banks witnessed a remarkable 66 percent Year-on-Year increase, soaring to N76.04 trillion by the end of December 2023 from N45.81 trillion in December…
Business Local Cadbury Nigeria Reports 43% Revenue Increase in Q1’24 May 7, 2024 Ekemini Uba Cadbury Nigeria Plc has disclosed a notable revenue of N23.695 billion for the first quarter ended March 31, 2024 (Q1’24), marking a substantial 43 percent increase from the N16.563 billion…
Business Trade SEC Plans to Delist Naira from P2P Crypto Trading to Curb Manipulation May 7, 2024 Ekemini Uba Dr. Emomotimi Agama, the Acting Director General of the Securities and Exchange Commission (SEC), has announced the Commission’s intention to remove the Naira from peer-to-peer (P2P) cryptocurrency trading platforms to…
Business Meeting between Blockchain industry and SEC Director General rescheduled May 6, 2024 Ekemini Uba A meeting planned between key players in the blockchain industry and the Director General of the Securities and Exchange Commission, Emomotimi Agama, has been rescheduled. Originally set for 10 am…
Business Naira in circulation reaches N3.87 trillion May 6, 2024 Ekemini Uba The amount of money in circulation in Nigeria has reached N3.87 trillion by the end of March, as per data from the Central Bank of Nigeria. This is an increase…
Banking Local Zenith Bank’s total assets increases to N24.28 trillion in Q4 May 6, 2024 Ekemini Uba Zenith Bank Plc has experienced a significant increase in its total assets, rising by 19.21% to N24.28 trillion in the first three months of this year. This marks an 81.75%…
Business Local FMBN adopts performance management system for workers May 6, 2024 Ekemini Uba The Federal Mortgage Bank of Nigeria (FMBN) has introduced a performance management system to assess the performance of its employees, aiming to meet operational targets. Managing Director Shehu Osidi announced…
Local Stock Trade Equity market bounces back with weekly gain of N812 Billion May 6, 2024 Ekemini Uba After experiencing a downturn of N3.54 trillion in April, the Nigerian equity market saw its first weekly gain, amounting to N812 billion. This positive movement followed six weeks of bearish…
Business Local Stock Transcorp plans share capital reduction May 6, 2024 Ekemini Uba Transnational Corporation Plc has announced plans to reduce its number of shares through a share capital reconstruction, aiming to enhance shareholder value and improve share pricing. The move has received…
Africa Business DRC President praises Russia and China for transparent partnerships May 6, 2024 Ekemini Uba Democratic Republic of Congo (DRC) President Felix Tshisekedi has lauded Russia and China for their transparent and straightforward partnerships with African countries. He emphasized that Russia and China treat the…
Business World Paramount Global in talks with Sony, Apollo over acquisition May 6, 2024 Ekemini Uba Paramount Global has initiated negotiations with Sony and Apollo Global Management for potential acquisition deals. This move follows significant setbacks for Paramount, including substantial first-quarter losses and the departure of…
Business Dependents from Nigeria to UK increased from 1,500 to 52,000 in 2 years — British High Commissioner May 6, 2024 Ekemini Uba Richard Montgomery, the British High Commissioner to Nigeria in an interview with the News Agency of Nigeria (NAN) in Abuja, Montgomery stated that the number of dependents from Nigeria to…
Business NDLEA smashes international drug syndicate, seizes suitcases of ‘loud’ in MMIA, Lagos May 6, 2024 Ekemini Uba The National Drug Law Enforcement Agency (NDLEA) successfully dismantled an international drug syndicate operating in Nigeria, South Africa, and Thailand. The unraveling of the drug cartel commenced with the interception…
World Israel to shutdown Al Jazeera news network in country amid war with Gaza May 6, 2024 Ekemini Uba Israel’s Prime Minister, Benjamin Netanyahu, announced that his Cabinet decided unanimously to close Al Jazeera’s operations in Israel. This decision came after Israeli lawmakers passed a new media law, dubbed…
Local Pension fund assets marginally decrease to N19.669 Trillion in March May 6, 2024 Ekemini Uba Data from the National Pension Commission (PenCom) revealed that Nigeria’s pension fund assets dropped marginally to N19.669 trillion for the period ended March 31, 2024. This represents a slight decrease…
Business Local Cyberattacks: Ransomware payments globally surge by 500% in 2023—Report May 6, 2024 Ekemini Uba A recent report from cybersecurity firm Sophos revealed a significant increase in ransom payments by companies globally affected by ransomware, rising by 500% in 2023. The “State of Ransomware 2024”…
World Buffett retakes the stage as Berkshire prepares to pass the baton May 3, 2024 Ekemini Uba As Berkshire Hathaway prepares for its annual meeting, all eyes are on Warren Buffett, but the absence of his longtime partner, Charlie Munger, is deeply felt. Munger’s passing in November…
Banking Local FCMB Group to pay N9.901 billion dividend to shareholders for FY 2023 May 3, 2024 Ekemini Uba FCMB Group Plc, a financial institution in Nigeria, announced that its shareholders will get a dividend of N9.901 billion for the year ending December 2023. This means each share will…
Business Trade NGX Starts May Strong, Investors Gain N303 Billion May 3, 2024 Ekemini Uba The Nigerian Exchange Limited (NGX) began May with a positive trend, as the All-Share Index rose by 0.55%, gaining 537.15 points to close at 98,762.78 points. This resulted in investors…
Currency Local Naira closes 1,402/$ at official market as dollar demand persists May 3, 2024 Ekemini Uba In the initial trading session of May at the NAFEM window, the Naira experienced a small decline, settling at N1,402.67 to the dollar, marking a 0.83% decrease from the previous…
World Elon Musk says X will strip ability to block accounts May 3, 2024 Ekemini Uba Elon Musk, the owner of social media platform X, has advised users to unblock all accounts they’ve previously blocked, promising that “it will bring you good fortune.” To facilitate this,…
Commodities Finance Lagos generated N300m from Land Use charge in four months – Commissioner May 3, 2024 Ekemini Uba The Lagos State Government has announced that it earned N300 million in revenue from the Land Use Charge in the initial four months of 2024. This amount is a significant…
Business Local BUA Cement continues with its profit decline streak in Q1 2024 May 3, 2024 Ekemini Uba BUA Cement Plc released its financial results for Q1 2024, revealing a pre-tax profit decrease of 39.97% to N21.286 billion compared to Q1 2023. This follows a 44.05% year-on-year profit…
Banking Wema bank seeks shareholders’ approval to raise N200bn capital May 3, 2024 Ekemini Uba Wema Bank Plc, one of Nigeria’s oldest commercial banks, plans to seek shareholders’ approval to raise N200 billion in capital at its upcoming annual general meeting (AGM) scheduled for May…
Business Local DSTV Tariff Hike: Court Orders Lawyer To Paste Restraining Order At MultiChoice Office May 3, 2024 Ekemini Uba The Competition and Consumer Protection Tribunal in Abuja has directed MultiChoice Nigeria Limited to halt its planned increase in DSTV tariff. This order came in response to an application by…
World Nigerian Transnational Fraudster Captured, Convicted After Scamming 400 U.S. Citizens In Multimillion-Dollar Fraud Scheme May 3, 2024 Ekemini Uba Amos Prince Okey Ezemma, a Nigerian national, admitted guilt in a transnational inheritance fraud scheme that preyed on elderly and vulnerable individuals across the United States. Court documents revealed that…
