BUA Cement continues with its profit decline streak in Q1 2024
BUA Cement Plc released its financial results for Q1 2024, revealing a pre-tax profit decrease of 39.97% to N21.286 billion…
Year: 2024
Wema bank seeks shareholders’ approval to raise N200bn capital
Wema Bank Plc, one of Nigeria’s oldest commercial banks, plans to seek shareholders’ approval to raise N200 billion in capital…
DSTV Tariff Hike: Court Orders Lawyer To Paste Restraining Order At MultiChoice Office
The Competition and Consumer Protection Tribunal in Abuja has directed MultiChoice Nigeria Limited to halt its planned increase in DSTV…
Nigerian Transnational Fraudster Captured, Convicted After Scamming 400 U.S. Citizens In Multimillion-Dollar Fraud Scheme
Amos Prince Okey Ezemma, a Nigerian national, admitted guilt in a transnational inheritance fraud scheme that preyed on elderly and…
Fuel Scarcity: 9,000 oil marketers face license loss, IPMAN appeals for extension
As Nigerians grapple with fuel scarcity, over 9,000 oil marketers are at risk of losing their operating licenses. The Independent…
FG mandates stamp duty charge on mortgage
The Federal Government has instructed Deposit Money Banks to commence the deduction of a 0.375 per cent stamp duty charge…
Petrol Scarcity: 7 Vessels Stranded at Escravos Channel”
The current petrol supply crisis in Nigeria has been attributed to seven daughter vessels, collectively carrying 150 million litres of…
CBN worries over declining economic activities
The Central Bank of Nigeria (CBN) has expressed worry over the recent decline in economic activities in the country. According…
Lagos GDP Hits N41trn, Ranks 7th In Africa
The Lagos State Government has announced that its Gross Domestic Product (GDP) has increased from N27 trillion to N41 trillion…
Oil prices rebound after consecutive days of decline
Oil prices saw a rebound on Thursday after three consecutive days of decline, reaching their lowest levels since mid-March. Brent…
Google faces closing arguments in US market power trial
The U.S. government is set to present its antitrust case against Alphabet’s Google in closing arguments on Thursday, concluding a…
Peloton CEO McCarthy steps down, fitness equipment maker to cut 15% jobs
Peloton CEO Barry McCarthy is stepping down over a 15% reduction in the company’s global workforce due to decreased demand…
U.S. Stock Futures Rise, Eyes on Earnings and Jobs Data
U.S. stock index futures rose on Thursday following the Federal Reserve’s decision to leave interest rates unchanged, easing concerns of…
Landmark Beach Management Addresses Customers Amid Demolition Plans
Landmark Beach management has deactivated its app and issued a statement addressing its customers regarding the current developments surrounding plans…
Tinubu Pledges Fair Wages and Improved Welfare for workers
President Bola Tinubu has affirmed that hardworking Nigerians deserve fair wages and better welfare. This message was conveyed in his…
Tanzania, Kenya resolve poultry export dispute- EAC
Tanzania and Kenya have finally resolved a trade dispute regarding the export of poultry and poultry products between the two…
NLC labels FG’s 35% salary increase mischievous
The National President of the National Labour Congress (NLC), Joe Ajaero, has criticized the federal government’s increase of civil servants’…
FG approves 25%-35% salary increase for civil servants in Nigeria
The Federal Government has approved a salary increase ranging from 25% to 35% across various salary structures, aiming to enhance…
Extradition papers for escaped Binance executive ready – Interpol
The International Criminal Police Organization for Africa (INTERPOL Africa) has finalized the extradition papers for Nadeem Anjarwalla, a Binance executive…
Lagos State Uncovers 86 rooms under Ikoyi bridge where tenants pay N250,000 rent
The Lagos State government has uncovered a network of makeshift apartments beneath the Dolphin Estate Bridge in Ikoyi, where tenants…
ECOWAS warns West African countries against being proxy frontiers of foreign powers
The Economic Community of West African States (ECOWAS) Council of the Wise, chaired by former Nigerian president Goodluck Jonathan, has…
FCMB Group records 186% profit growth
FCMB Group Plc has announced a remarkable increase in profit before tax, reaching N104.4 billion, marking a substantial 186 percent…
Banks close 2m accounts over BVN, NIN, others
Commercial banks in Nigeria closed more than 2 million bank accounts in the first quarter of 2024 to adhere to…
Pension Fund Managers Increase Stock Investments to N550 bn
In the first three months of 2024, pension fund managers in Nigeria purchased Nigerian stocks worth N550 billion, reaching a…
Coastal Highway: FG pays N2.75bn compensation for demolished properties
During a meeting at Eko Hotel and Suites in Lagos, David Umahi, the Minister of Works, announced that the Nigerian…
Uganda secures $295m loan from Islamic Development Bank for projects
Uganda has recently finalized a deal with the Islamic Development Bank (IDB) in Saudi Arabia, obtaining a loan of $295…
Musk dismisses two senior Tesla executives, plans further layoffs
Elon Musk, the CEO of Tesla, has removed two senior executives from their positions and intends to lay off hundreds…
Quinn, architect of HSBC’s sweeping overhaul, announces surprise exit
HSBC, a global banking giant, announced the retirement of its Chief Executive, Noel Quinn, after five years of leading the…
Mercedes-Benz stands firm against discounting, despite Q1 loss
Despite the challenges, Mercedes-Benz expects improved sales volumes in the second quarter, with a focus on defending current pricing levels,…
IMF’s $1.1 bln tranche to help Pakistan’s economic stability, says PM Sharif
Sharif emphasized the importance of the standby arrangement in safeguarding Pakistan from defaulting on its external obligations. The IMF’s executive…