Bitwise Predicts AI and Crypto Industries Could Add $20 Trillion to Global GDP by 2030
Bitwise Asset Management, a prominent investor in Bitcoin Exchange Traded Funds (ETF), has projected that the combined growth of the…
Year: 2024
We secured about $5.5 billion in bank loans to build Dangote Refinery – Aliko Dangote
Africa’s richest individual, Aliko Dangote, disclosed that his company secured approximately $5.5 billion in bank loans from domestic banks across…
Banking sector remains safe, CIBN assures customers
The Chartered Institute of Bankers of Nigeria (CIBN) has reassured bank customers of the stability and security of the Nigerian…
16 Directors Exit After Ex-Governor’s Misconduct Probe
Sixteen out of twenty-nine directors at the Central Bank of Nigeria (CBN) have been relieved of their duties, leaving only…
Nigeria’s Oil Production Slumps To 1.25m Bpd In May
Nigeria’s oil production saw a downturn in May, decreasing to 1.25 million barrels per day (mbpd) from 1.28 mbpd in…
Court Stops DisCos, NERC From Hiking Electricity Tariff
A high court in Lagos has issued an interim order preventing ten electricity distribution companies (DisCos) and the Nigerian Electricity…
Company Income Tax Dips N135.4bn, VAT Grows N230bn In Q1
Nigeria’s Company Income Tax (CIT) has seen a significant decline, dropping to N984.61 billion in the first quarter of 2024,…
Uncertainty Clouds Nigeria’s Eurobond Plans
Nigeria’s plans to issue Eurobonds this year, a key strategy to strengthen government finances, are facing significant uncertainties. Initially announced…
Full text of President Bola Tinubu’s Democracy Day speech, June 12, 2024
TEXT OF PRESIDENT BOLA TINUBU’S NATIONAL BROADCAST ON THE 25TH ANNIVERSARY OF UNBROKEN DEMOCRACY IN NIGERIA, DEMOCRACY DAY 12TH JUNE…
Tolaram Splashes Over N100bn For Diageo’s 58.02% Stake In Guinness
Tolaram, a Singapore-based holding company, is set to acquire Diageo’s 58.02 percent stake in Guinness Nigeria for approximately N103 billion…
Price war on London route takes off as foreign airlines slash fares
Competition on the popular Lagos-London route has intensified, with foreign airlines significantly reducing fares. British Airways now offers economy class…
I Was Warned Against Building Refinery — Dangote
Aliko Dangote, the Nigerian billionaire behind the Dangote Group, recently spoke about the challenges of constructing Africa’s largest oil refinery…
Tinubu Approves New Leadership For National Council On Climate Change
President Bola Tinubu has appointed Dr. Nkiruka Maduekwe as the interim Director-General/Chief Executive Officer of the National Council on Climate…
Dangote Inaugurates CKD Truck Assembly Plant In Lagos
Dangote Sinotruk West Africa inaugurated a completely knocked down (CKD) truck assembly plant in Ikeja, Lagos state. The event, held…
Sacked CBN Employees Seek Reinstatement
A group of recently dismissed employees from the Central Bank of Nigeria (CBN) is challenging the manner of their termination,…
Zenith Bank Appoints Adaora Umeoji as First Female GMD/CEO
Zenith Bank Plc, a leader in Nigeria’s banking sector, has appointed Adaora Umeoji as its new Group Managing Director and…
Saudi Aramco Share Sale Attracts Strong Demand, Raises Over $11 Billion
Saudi Arabia successfully sold shares in oil giant Aramco, raising over $11.2 billion. The sale, priced towards the lower end…
Samsung Electronics union in South Korea stages first walkout
Samsung Electronics’ workers’ union staged the company’s first-ever strike on Friday, demanding higher wages. While the walkout is unlikely to…
Banks say growing reliance on Big Tech for AI carries new risks
The rise of artificial intelligence (AI) in banking is a double-edged sword, according to European banking executives. While AI offers…
Americans are getting pickier, but they are still spending on hot items
Investors are analyzing US credit card spending data to understand which retailers are likely to perform well this summer. While…
China’s exports rise solidly, but slower imports temper outlook
China’s exports grew for a second consecutive month in May, offering a glimmer of hope for the country’s economic recovery.…
Morning Bid: US check on sub-4% jobless, China imports slow
Global markets are currently in a holding pattern, awaiting the release of the US employment report. This report, due out…
Stock market rally pauses as US jobs data looms
Global stock markets are currently in a wait-and-see mode, with investors closely monitoring the upcoming US jobs report. This report…
Major Japanese Banks to Divest $8.5 Billion in Toyota Stock
Two of Japan’s largest banks, Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (SMFG), are reportedly planning to…
INFLATION: Cost of sales in companies rise 29% to N5.4trn
A recent analysis of financial statements from 20 leading Nigerian companies reveals a significant increase in their cost of sales.…
Insurance sector charged on digital adoption to accelerate penetration
Enterprise Life Nigeria, a leading insurance provider, is calling for the industry to embrace digital adoption. Their CEO, Mrs. Funmi…
Food security: FG providing N200 billion to support the cultivation of hectares of land
The Secretary to the Government of the Federation (SGF), Sen. George Akume, announced that the federal government will allocat N200…
Police declare ‘fugitive’ First Bank employee, Tijani Muiz, ‘wanted’ over alleged N40 billion fraud
The Nigerian Police Force has declared Tijani, an employee of First Bank of Nigeria Limited, wanted for multiple offenses, including…
Australian authorities project loss of 250,000 jobs dependent on foreign students
Authorities in Australia have warned that new measures to limit international students could severely impact the $48 billion international education…
Freight services resume on Lagos-Kano narrow gauge railway
Freight services have resumed on the rehabilitated Lagos-Kano narrow gauge railway line, announced by the Minister of Transportation, Saidu Alkali,…