Nigeria’s FX reserves stablise at $33.16bn amid inflation surge
Nigeria’s foreign exchange (FX) reserves have demonstrated remarkable stability, holding firm at $33.16 billion, which signals economic steadiness despite rising…
Year: 2024
Changan posts 3.29% rise in May sales, gets more popular in Nigeria
Chinese automaker Changan Automobile reported a modest increase in May sales. According to a production and sales report released on…
FG sets 9-month timeline for 2024 oil block licensing round
In a significant shift from previous practices, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has established a nine-month timeline for…
Growth Stack wins tech award
Growth Stack has been honored as Africa’s most trusted software development company of the year by the African Brand Congress.…
SEC Chief Warns on Risks of Innovation at Capital Market Summit
Emomotimi Agama, Director General of the Securities and Exchange Commission (SEC), has urged stakeholders in Nigeria’s capital market to remain…
Rubicola Partners NGX, ACCA On Sustainability, Climate Risk Disclosures
In an effort to enhance corporate transparency and sustainability in Nigeria, Rubicola Consulting has partnered with NGX Regulation Limited and…
SAHCO grows gross profit to N8.19bn
Skyway Aviation Handling Company (SAHCO) Plc announced a substantial growth in its gross profit, reaching N8.195 billion for the financial…
Recapitalisation: Wema Bank Gets Approval For N40bn Rights Issue
Wema Bank has announced the successful conclusion of the first tranche of its recapitalisation exercise, securing all necessary regulatory approvals…
Senegal Joins Oil-Producing Countries, Begins Production
Senegal has achieved a historic milestone by officially commencing oil production, thereby joining the ranks of oil-producing countries in West…
Nigeria’s Eurobond Issuance Plans Remain Uncertain
Nigeria’s planned Eurobond issuance has left investors and market players in uncertainty as authorities have not disclosed the timing of…
Ghana Faces Three-Week Power Interruption Due to Reduced Gas Supply from Nigeria
Ghana’s state-owned electricity company, the Electricity Company of Ghana (ECG), has announced a three-week power interruption due to reduced gas…
Meta Trims Office Space in Lagos after layoffs
Meta, the parent company of Facebook, Instagram, and WhatsApp, is downsizing its office space in Lagos, Nigeria, following workforce reductions…
Amazon to invest $230 million in generative AI startups globally
Amazon Web Services (AWS) has launched a $230 million fund to support startups globally in accelerating the creation of generative…
G7 partners pledges $420-million-dollar investments for Africa as Nigeria positions
Leaders from the Group of Seven (G7) countries, along with representatives from Italy and the United States private sectors, have…
NDIC Lists Heritage Bank Assets for Sale Nationwide Following License Revocation
The Nigeria Deposit Insurance Corporation (NDIC) has announced the sale of Heritage Bank’s assets nationwide following the revocation of the…
Customs Seizes 26,950 Litres of Smuggled Petroleum Products in Lagos, Ogun States
The Nigeria Customs Service (NCS) intercepted 26,950 litres of petroleum products valued at N19 million in Lagos and Ogun States.…
World Bank, WTO, NITDA Move To Enhance Digital Trade
The National Information Technology Development Agency (NITDA), the World Bank, and the World Trade Organisation (WTO) have joined forces to…
Hyundai Upgrades 2025 Santa Fe
Hyundai has unveiled the fifth generation of the popular Santa Fe, featuring significant upgrades including a new 1.6-liter hybrid engine…
Minister Unveils Nigeria’s Largest Syringe Manufacturer
Dr. Tunji Alausa, the Minister of State for Health and Social Welfare, has called for collaboration among stakeholders in Nigeria’s…
Minimum wage: Our agreement with FG is N250,000 – NLC, TUC
The Organised Labour has firmly stated that the only agreement it recognizes with the Federal Government regarding the national minimum…
NNPCL Calls For Establishment Of Special Court Over Crude Oil Theft
Mr. Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), has called on the judiciary…
Money market funds grow by 14% in 5 months
In the first five months of 2024, Nigeria’s money market funds saw a significant increase of 14%, driven by investors’…
Food & Beverage West Africa Show Declared a Huge Success with Over 5,000 Exhibitors
The Food & Beverage West Africa Show, organized by BtoB Event, has been deemed a significant success with a large…
Shelter Afrique Set to Transform into Dynamic Development Bank at 43rd Annual General Meeting
Shelter Afrique Development Bank is set to undergo a significant transformation during its 43rd Annual General Meeting (AGM) in Kigali,…
Aiteo-Nembe Dispute Threatens Nigeria’s Oil Production
Nigeria’s daily crude oil production, which currently stands at 1.5 million barrels per day, is at risk of declining due…
Company Income Tax Reduced By 12% In Q1
Nigeria’s Company Income Tax (CIT) revenue fell to N984.6 billion in the first quarter of 2024, marking a 12.87 percent…
South African pay-TV group MultiChoice slides into annual loss
South African pay television company, MultiChoice Group, reported a pre-tax loss of $38 million for the financial year ending March…
Micro pension records mixed fortune as contributions decline
Despite a rise in the number of contributors to the micro pension fund, informal sector workers are reducing their contributions…
Sterling Bank partners SPPG for credential verification via blockchain tech
Sterling Bank has partnered with the School of Politics, Policy, and Governance (SPPG) to transform the verification of academic credentials…
FG Seeks $500M World Bank Loan for Rural Roads and Agricultural Marketing Development
The Federal Government of Nigeria is pursuing a $500 million loan from the World Bank to enhance rural roads and…