Fed Governor Hints at Higher Borrowing Costs
Federal Reserve Governor Christopher Waller has sparked discussions about a possible change in the interest rate environment. R-star, a theoretical…
Year: 2024
Brazil’s Petrobras approves Chambriard as new CEO
Brazil’s state-owned oil giant Petrobras has a new leader: Magda Chambriard. Her appointment follows the unexpected dismissal of previous CEO…
CBN’s 26.25% interest rate will compound high cost of doing business in Nigeria – MAN
The Manufacturers Association of Nigeria (MAN) is expressing strong concerns over the Central Bank of Nigeria’s (CBN) recent decision to…
Landmark Beach Demands N42 Billion Compensation After Demolition
The management of Landmark Beach is seeking N42 billion in compensation from the Nigerian Federal Government following the demolition of…
Government Invests N110 Billion in Young Entrepreneurs
The Nigerian government has announced a significant investment in young entrepreneurs. The Federal Executive Council (FEC) approved N110 billion allocated…
Nvidia Co-Founder Surpasses Walmart Waltons in Wealth
Jensen Huang, co-founder of Nvidia, has become a symbol of the booming tech industry’s growing influence. Thanks to Nvidia’s strong…
AfDB Pours $1.44 Billion into Nigeria’s Infrastructure Development
The African Development Bank (AfDB) is stepping up its support for Nigeria’s infrastructure needs with a significant investment of $1.44…
Social economic problems may push 51.6% males to migrate — NBS survey
A new report by the National Bureau of Statistics (NBS) paints a concerning picture of potential migration trends in Nigeria.…
Prices of basic food items rise 140% — NBS
Nigerians are facing a significant rise in food prices, according to the latest report by the National Bureau of Statistics…
Dangote Calls for More Investment in Africa’s Industries, Not Just Resources
Aliko Dangote, president of Dangote Industries Limited, is urging increased investment in African industries. Speaking at the Africa CEO Forum…
Kerosene Prices Jump to N1,439.64/ltr: North Central Hit Hardest
The cost of kerosene, a vital fuel for many Nigerian households, has risen significantly. According to the National Bureau of…
Manufacturer’s Confidence on the Rise in Nigeria
Nigeria’s manufacturing sector is showing signs of optimism for the first time in nearly two years. A survey by the…
Ajaokuta steel revival attracts $10 billion investment, says Minister Audu
There’s good news for Nigeria’s steel industry! The government has reportedly secured potential investments totaling $10 billion to revitalize the…
Google Eyes HubSpot Acquisition to Challenge Microsoft in Cloud Software
Google’s parent company, Alphabet, is reportedly considering acquiring HubSpot, a marketing software company valued at $31 billion. This move would…
Boeing faces ‘long road’ on safety issues, US FAA says
The head of the Federal Aviation Administration (FAA) has cast doubt on Boeing’s ability to quickly resolve safety concerns. This…
BHP Determined to Seal Anglo American Deal Despite Concerns
BHP, the world’s largest mining company, remains committed to its proposed takeover of Anglo American. Despite concerns raised by Anglo…
Tier-1 Nigerian banks earn N392 billion from electronic business
Nigeria’s top tier-1 banks are reaping significant rewards from the growing popularity of electronic transactions. These banks, including UBA, Access…
International Breweries Gets SEC Nod for N588 Billion Rights Issue to Ease Debt Burden
International Breweries has secured approval from the Nigerian Securities Exchange Commission (SEC) to proceed with its planned rights issue. This…
Nigerian businesses need single-digit interest rate to grow economy – CPPE
Nigeria’s central bank (CBN) has raised interest rates for the third time in 2024, in a bid to control high…
Techstars CEO Maëlle Gavet Steps Down Due to Health Reasons
Techstars CEO Maëlle Gavet announced her resignation from the company, effective at the end of May, citing health concerns. Gavet’s…
BoI Disburses N496bn To MSMEs, Creates 2m Jobs
Nigeria’s Bank of Industry (BoI) defied economic downturn by disbursing N496 billion to bolster Micro, Small and Medium Enterprises (MSMEs).…
Jaiz Bank Posts N11bn Profit Before Tax
Jaiz Bank Plc announced impressive financial results for 2023 and the first quarter of 2024. Their profit before tax reached…
Azura Power Launches 20kW Solar System To Commemorate Children’s Day
Azura Power West Africa is bringing the light of education to the Knosk Charity School in Kuje with a 20…
AIMAN Seeks Review Of 50% IGR Deduction From Aviation Agencies
The Aeronautical Information Management Association of Nigeria (AIMAN) is lobbying for the Nigerian Airspace Management Agency (NAMA) to be exempt…
Turkish Airlines sacks 7 Nigerian staff over $600,000 ticket racketeering
Turkish Airlines fired seven Nigerian staff members for allegedly costing the airline over $600,000 through ticketing reservation violations. This dismissal…
Nigerian Treasury Bill Rates Unresponsive to CBN Interest Hike
Despite a recent hike in interest rates by Nigeria’s Central Bank, rates on one-year treasury bills remained nearly unchanged at…
Nigeria’s $1trn transactions to get new AI-based defence
Nigeria is stepping up its fight against financial fraud as the volume of electronic transactions explodes. With over N1.55 quadrillion…
Naira Holds Steady Against Dollar Despite CBN Rate Hike
The Nigerian Naira remained stable against the dollar at the official foreign exchange market on Wednesday, even after the Central…
Diesel price rises 68% to N1,415.06/ltr
The cost of diesel fuel in Nigeria has jumped dramatically, with a year-on-year increase of 68% to N1,415.06 per litre…
Microsoft’s AI Deal with UAE Raises Security Concerns, Lawmakers Seek More Oversight
Microsoft’s deal with G42, a UAE-backed AI company, is raising eyebrows over potential national security risks. The agreement might involve…