Court Halts Rivers State Federal Allocation Amidst Budget Approval Dispute
The Federal High Court in Abuja has ordered the suspension of federal allocations to Rivers State, citing non-compliance with proper…
Month: October 2024
Legal attacks are slowing SEC rulemaking in a crucial election year
The U.S. Securities and Exchange Commission (SEC) has experienced a significant slowdown in rulemaking since President Biden took office, primarily…
Robinhood shares drop as growth push takes a toll on Q3 results
Robinhood Markets, Inc. saw its shares plummet nearly 11% before the market opened on October 31, following a strong performance…
NSITF Expands Employees Compensation Scheme to Include Informal Sector Workers
The Nigeria Social Insurance Trust Fund (NSITF) is enhancing the security and welfare of informal sector workers by integrating Agency…
IPMAN Negotiates Petrol Supply with Dangote Refinery Amid Price Hikes
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is in talks with Dangote Refinery to establish a petrol supply arrangement,…
Minority shareholders laud NAICOM’s takeover of African Alliance Insurance
The National Insurance Commission (NAICOM) has dismissed the board and management of African Alliance Insurance Plc, appointing an interim board…
Kia Motors Nigeria Supports AFC Africa Fighting Championship 2024
Kia Nigeria proudly supported the African Fighting Championship (AFC) 2024, held on October 26 at Abuja’s National Stadium Velodrome. As…
TCN restores power in parts of Northern states
The Transmission Company of Nigeria (TCN) has announced the restoration of bulk power supply to several states in Northern Nigeria…
NAICOM Sacks Board Management Of African Alliance
The National Insurance Commission (NAICOM) has dismissed the Board and Management of African Alliance Insurance Plc due to persistent insolvency…
Credit to government jumps 90% to N42trn amid rising money supply
In September 2024, Nigeria’s money supply reached an unprecedented N109 trillion, marking a 1.68% increase from the previous month and…
Transcorp Power plans an additional 150MW of electricity generation
Transcorp Power has announced plans to boost Nigeria’s electricity generation with an additional 150 megawatts (MW), despite current challenges with…
FMDQ Group records significant achievements amid challenging economic conditions
In 2023, FMDQ Group Plc navigated significant economic challenges, including inflation, fluctuating exchange rates, and shifting monetary policies, affecting Nigerian…
MTN Nigeria Reports Q3 Profit Amid Ongoing Inflation and Currency Challenges
MTN Nigeria Communications Plc returned to profitability in the third quarter of 2024, reporting a post-tax profit of N4.13 billion…
UBA Rewards 110 Customers with N42.8m in Legacy Promo Celebrating 75 Years
United Bank for Africa (UBA) recently rewarded 110 customers with a total of N42.8 million as part of its “75…
Nigerian Breweries Reports 75% Revenue Growth Amid Economic Challenges
Nigerian Breweries Plc has announced a remarkable 75% increase in revenue for the nine months ending September 30, 2024, reaching…
Moniepoint gains unicorn status after raising $110m from Google and DIP
Nigerian fintech startup Moniepoint has reached unicorn status, now valued at over $1 billion following a $110 million funding round.…
NLC Mourns Loss Of Workers On Active Duty
The Nigeria Labour Congress (NLC) has voiced its sorrow and concern following the October 24 helicopter crash involving East Wind…
CBN, IFC to provide $1bn funding options to Nigerian businesses
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement with the Central…
Nigeria Supports 600,000 Farmers to Combat Inflation and Boost Food Supply
The Nigerian Federal Government has announced a major initiative to support 600,000 small-scale farmers to enhance food production and curb…
The Government needs N19tn to complete 2,604 ongoing projects
At a press briefing in Abuja, Minister of Works David Umahi announced the estimated cost to complete Nigeria’s 2,604 ongoing…
43% Of Global Population Lack Mobile Internet Access
A new report by the GSMA reveals that 43% of the global population 3.45 billion people still do not use…
High Costs and Policy Shifts Force Northern Rice Mills to Shut Down Amid Rising Food Prices
Rice mills in northern Nigeria are shutting down due to soaring production costs, including skyrocketing diesel prices and high electricity…
Nigeria Faces N36 Trillion Annual Loss Due to Untitled Lands
Operators in Nigeria’s built environment estimate that the country loses approximately N36 trillion annually due to untitled lands. With only…
NDIC should ensure maximum value from Heritage Bank’s assets
The Nigerian Senate has directed the Nigeria Deposit Insurance Corporation (NDIC) to maximize the value of remaining assets from the…
Customs ushers in new leadership with the latest appointments
As the Nigeria Customs Service (NCS) marks the retirement of several senior officials, Comptroller General Adewale Adeniyi has introduced a…
IMF SEES MAJOR MANUFACTURING SHIFT TOWARDS INDIA AND CHINA
The latest International Monetary Fund (IMF) World Economic Outlook report underscores a global shift in manufacturing from advanced economies to…
NLC slams IMF for fuel subsidy removal denial
The Nigeria Labour Congress (NLC) has criticized the International Monetary Fund (IMF) for denying responsibility in Nigeria’s recent removal of…
Nigeria Sees Record $57 Billion in FX Inflows by August 2024
Foreign exchange inflows to Nigeria have reached an impressive $57 billion as of August 2024, according to the Central Bank…
IMF Urges Nigeria to Enhance Tax Collection for Improved Revenue Generation
The International Monetary Fund (IMF) has advised the Nigerian government to implement a more effective tax collection system to expand…