Transcorp Group records 1,475% profit before tax in Q1
Transnational Corporation Plc (Transcorp Group) announced a remarkable 1,475 percent growth in Profit Before Tax (PBT) for the first quarter…
Year: 2024
Naira Depreciates by 4.60% at Official Market, Trades at N1,416.57 to Dollar
The Nigerian naira experienced depreciation at the official market, with the exchange rate reaching N1,416.57 to the dollar. Data from…
Lagos Attracts $3 Billion Investment in Three Years Says Commissioner
Tunbosun Alake, the Commissioner for Innovation, Science, and Technology of Lagos State, announced at the 2024 US-Africa Business Summit in…
African Steel Denies Reports of Ikorodu Factory Shutdown by SON
African Steel Limited has issued a statement debunking media reports alleging the shutdown of its Ikorodu Steel Factory by the…
Shell Discloses $1.09 Billion Payments to Government
The Managing Director and Country Chair of Shell Companies in Nigeria, Osagie Okunbor, has reaffirmed the organization’s dedication to Nigeria’s…
‘Automation Capable Of Transforming Governance In Nigeria’
Melanie Ayoola, the Group Executive Director of Tranter IT, highlighted the potential of technology to revolutionize governance in Nigeria during…
US eyes curbs on China’s access to AI software behind apps like ChatGPT
The Biden administration is considering plans to regulate the export of advanced AI models, such as ChatGPT, as part of…
Futures muted as investors seek clues on US rate path
U.S. stock index futures showed little movement on Wednesday following a period of strong gains that propelled the S&P 500…
Amazon breaks into Europe 5G networks with Telefonica cloud deal
Telefonica Germany, a subsidiary of Spanish group Telefonica, plans to migrate one million 5G customers to Amazon Web Services (AWS)…
Naira depreciates to N1,415/$ in parallel market
The Naira experienced depreciation against the US Dollar in both the parallel and Nigerian Foreign Exchange Market (NAFEM) on Tuesday.…
CBN Updates List of Deposit Money Banks, Grants International Authorization to Fidelity Bank and FCMB
The Central Bank of Nigeria (CBN) has released an updated list of deposit money banks and other financial institutions as…
Petrol Scarcity in Lagos Sparks Frustration
The petrol scarcity in Lagos is causing frustration among motorists, who face long commutes and struggle to find fuel for…
Microsoft African Development Centre in Lagos May Shut Down Operations
There are indications that Microsoft may close its African Development Centre (ADC) in Lagos, Nigeria. While there has been no…
Access Holdings Directors Vested with Shares Worth N427.13m
Eight directors of Access Holdings, including the acting Group Chief Executive Officer, Bolaji Agbede, and Managing Director of Access Bank,…
Binance Accuses Nigerian Govt Of Demanding $150m Bribe
The Nigerian government has pledged to continue its pursuit of a criminal case against cryptocurrency platform Binance and its officials…
NLC Rejects CBN’s Cybersecurity Levy on Electronic Transfers
The Nigeria Labour Congress (NLC) has vehemently rejected the recent directive by the Central Bank of Nigeria (CBN) to impose…
EFCC Operatives Arrest Bureau De Change Operators, Encounter Resistance in Wuse Zone 4 Market
Economic and Financial Crimes Commission (EFCC) operatives conducted arrests of Bureau De Change (BDC) operators at Wuse Zone 4 market…
UBA Records 110% Rise in Gross Earnings to N570.2bn
United Bank for Africa Plc (UBA) has reported a remarkable 110% Year-on-Year (YoY) increase in gross earnings to N570.2 billion…
NOG Energy Week 2024 to Address Sub-Saharan Africa’s Energy Challenges
Stakeholders in the energy sector across Sub-Saharan Africa are gearing up to convene at the NOG Energy Week 2024, scheduled…
CBN Relaxes Restrictions on Repatriation of Oil and Gas Export Proceeds
The Central Bank of Nigeria (CBN) has eased restrictions on the repatriation of oil and gas export proceeds by International…
Jumia Slashes Operating Losses by 71% in Q1 2024, Reports Revenue Growth
Africa’s leading e-commerce group, Jumia, has significantly reduced its operating losses by 71% year over year to $8.3 million in…
Microsoft and OpenAI Launch $2 Million Fund to Combat AI Misinformation
In a collaborative effort, tech giants Microsoft and OpenAI have announced the creation of a $2 million Societal Resilience Fund…
AU Calls for $15 Billion Investment to Boost Local Fertilizer Manufacturing
The African Union (AU) has highlighted the need for a $15 billion private sector investment to enhance local manufacturing of…
Aliko Dangote Foundation and WEF Announce 2024 Young Global Leaders Fellows
The Aliko Dangote Foundation (ADF) and the World Economic Forum (WEF) have unveiled the gifted individuals selected for the prestigious…
ECOWAS Agrees to Establish $2.4 Billion Counter-Terrorism Force
The Economic Community of West African States (ECOWAS) has announced plans to establish a standby counter-terrorism force with a budget…
Shell Pays $1.09 Billion in Taxes and Royalties to FG
Shell has disclosed that it paid a total of $1.09 billion in corporate taxes and royalties to the Federal Government…
FBNBank Ghana changes to FirstBank Ghana to align with group identity
FBNBank Ghana has announced its name change to FirstBank Ghana, aligning with the identity, values, and vision of the FirstBank…
GoSolr to enhance solar-generation capacity in South Africa
GoSolr, a South African company, plans to increase its solar-generation capacity to 500 megawatts in the next four years, up…
Apple Unveils M4 Chip for iPad Pro
Apple introduced its latest chip, the M4, designed to excel in artificial intelligence tasks, in the iPad Pro model, a…
Disney’s surprise streaming entertainment profit offset by weaker TV business
Walt Disney’s shares fell 8.5% in morning trading despite a surprise profit in its streaming entertainment division, as a drop…