Local No Worker Can Survive in Nigeria with Less than N100,000 Monthly – House of Reps March 7, 2024 Ekemini Uba The Nigerian House of Representatives has expressed concern over the inadequate minimum wage for workers in the country, asserting that a monthly salary below N100,000 is insufficient for any worker…
Business ‘AMCON’s New Leadership will Improve Debt recovery’ March 7, 2024 Ekemini Uba Raheem Ajayi, a public commentator, believes that the newly appointed Managing Director of the Asset Management Corporation of Nigeria (AMCON), Gbenga Alade, will significantly enhance the organization’s debt recovery efforts.…
Banking Business CBN Issues Warning to Mortgage Banks and Financial Institutions March 7, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) has issued a stern warning to primary mortgage banks (PMBs), development finance institutions, and microfinance banks regarding the timely submission of regulatory returns. In…
Africa Africa’s gas production fields declining, AEC warns March 7, 2024 Ekemini Uba NJ Ayuk, the Executive Chairman of the African Energy Chamber, has raised an alarm about the declining state of many of Africa’s existing gas production fields. In The State of…
Local Technology Firm Launches Gas Initiative for Boat Operators March 7, 2024 Ekemini Uba Blue Gas Marine, a US-based company, has introduced compressed natural gas (CNG) for operating passenger boats and ferries in Nigeria. Layi Solesi, CEO of Ril Hydrocraft Limited, the distributor of…
Local 24 States Can’t Pay Salaries without FG Allocation – Budgets March 7, 2024 Ekemini Uba A recent investigation by The PUNCH reveals that at least 24 states in Nigeria may struggle to pay workers’ salaries this year without waiting for federal allocations. Analysis of the…
Commodities Local Trade Toilet Paper, Soap Among Nigeria’s Top Import from UK in 2023 March 7, 2024 Ekemini Uba Here’s a breakdown of the top 5 imported goods from the United Kingdom to Nigeria in the last six months of 2023, as per the 2023 UK-Nigeria trade and investments…
Business Local MTN and Airtel Increase Investments Despite Economic Challenges March 7, 2024 Ekemini Uba Despite Nigeria’s economic challenges, two major telecommunication giants, MTN Nigeria Communications Plc and Airtel Africa Plc, bolstered their investments in the country in 2023. The financial reports reveal a combined…
Banking Local Banks Raise Lending Rates Following CBN’s Record MPR Hike March 7, 2024 Ekemini Uba In response to the Central Bank of Nigeria’s (CBN) significant increase in the Monetary Policy Rate (MPR), Nigerian banks have begun raising their lending rates. Zenith Bank, the largest bank…
Local Edun Blames Inflation on ‘Eight Years of Printing Money without Productivity’ March 7, 2024 Ekemini Uba Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has attributed the current inflation in Nigeria to eight years of printing money without corresponding productivity under the…
Business Local SEC Introduces Guidelines for Digital Asset Service Providers March 7, 2024 Ekemini Uba The Securities and Exchange Commission (SEC) has announced the development of new guidelines for licensing, registration, and screening of digital and virtual asset service providers (VASPs). The SEC submitted the…
Local Reps Move to Establish National Tax Crimes Commission March 7, 2024 Ekemini Uba The House of Representatives has moved forward a bill for the establishment of a National Tax Crimes and Oversight Commission, aiming to address revenue leakages arising from non-payment and underpayment…
Technology World Former Google Engineer Indicted for Stealing AI Secrets to Aid Chinese Companies March 7, 2024 Ekemini Uba A former Google software engineer, Linwei Ding, also known as Leon Ding, has been indicted in California for allegedly stealing trade secrets related to artificial intelligence from Google. The 38-year-old…
Africa Business South Africa’s Current Account Deficit Widens Sharply in Fourth Quarter March 7, 2024 Ekemini Uba South Africa’s current account deficit significantly expanded in the fourth quarter of 2023, reaching 2.3% of gross domestic product (GDP) compared to a revised 0.5% in the previous quarter, according…
Africa Currency Egyptian pound stable after devaluation, IMF deal March 7, 2024 Ekemini Uba Egypt’s currency remained stable at around 49.5 pounds to the dollar as the market opened on Thursday, following the central bank’s decision to let the currency plunge and shift to…
investment Local Airtel Buys Back 991,861 Shares from Citigroup March 6, 2024 Ekemini Uba Airtel Africa recently made a significant move in the stock market by purchasing nearly 992,000 units of its shares valued at $0.50 each from Citigroup Global Markets on the London…
Breaking Local Abdulwaheed Odusile Appointed as CEO of KAFTAN Television March 6, 2024 Ekemini Uba Qbdulwaheed Odusile, the former Commissioner for Information and Strategy in Ogun State, has been appointed as the new Chief Executive Officer (CEO) of KAFTAN Television by its Board of Directors.…
Local Evercare Hospital Partners with MED-EL Electronics to Address Childhood Hearing Impairment March 6, 2024 Ekemini Uba Evercare Hospital, in collaboration with MED-EL Electronics, has entered into a Memorandum of Understanding aimed at addressing hearing impairment in children under the age of five during the signing ceremony,…
Business Local Trade Transcorp Power, FBN Holdings lift Market Cap by N194bn March 6, 2024 Ekemini Uba The Nigerian Exchange witnessed a significant N194 billion gain in market capitalization on Tuesday, largely propelled by the strong performance of newly listed stock Transcorp Power, alongside its parent company…
Business Nigerian Exchange Tops Africa with 33.70% Gain March 6, 2024 Ekemini Uba “The Nigerian Exchange (NGX) has emerged as Africa’s leading exchange in the first two months of 2024, boasting an impressive 33.70 percent returns for investors. A statement from the NGX…
Business Local BIC Achieves Double-Digit Revenue Growth March 6, 2024 Ekemini Uba BIC, a leading manufacturing corporation known for its stationeries, lighters, and shavers, has reported a substantial double-digit revenue growth across its operations in West Africa for the year ending December…
Local Stakeholders Push for Private Terminal Involvements in Regional Flights March 6, 2024 Ekemini Uba The delay in government approval for the use of Murtala Muhammed Airport Terminal Two (MMA2) for regional flights is causing concern among aviation stakeholders. They are urging the government and…
Local Trade Naira’s Official Exchange Rate Falls by 4.26% March 6, 2024 Ekemini Uba The official exchange rate of the naira against the dollar concluded its three-day winning streak, experiencing a significant decline of 4.26% to N1602.43 per US dollar on Tuesday, March 5,…
Local Tinubu Says his Administration Has Attracted $30 Billion FDI Commitments in 9 Months March 6, 2024 Ekemini Uba President Bola Tinubu disclosed that his administration has secured $30 billion in Foreign Direct Investment (FDI) commitments within the initial nine months of his tenure, bolstering Nigeria’s economy. He made…
World Libya’s Central Bank Governor Calls for Unified Government March 6, 2024 Ekemini Uba Sadiq Kabir, the governor of Libya’s central bank, announced the devaluation of the dinar currency and urged the approval of a new unified government by the parliament’s speaker, intensifying his…
Business Local Dangote Plans Oil Trading Arm for Nigerian Refinery, Sources Say March 6, 2024 Ekemini Uba Africa’s wealthiest individual, Aliko Dangote, is reportedly considering establishing an oil trading arm, possibly based in London, to oversee crude and products supply for his new refinery in Nigeria, according…
World Oil Prices Rebound Despite Demand Growth Concerns in China, U.S March 6, 2024 Ekemini Uba Oil prices experienced a modest rebound on Wednesday following extended declines, as indications of supply tightness due to output cuts by major producers outweighed concerns about demand growth in China…
Stock World Asia stocks climb; Gold, Bitcoin Drift after Hitting Record Highs March 6, 2024 Ekemini Uba Asian stocks saw gains on Wednesday as traders anticipated policy indications from Beijing during its week-long annual parliamentary session. Investors were hopeful for potential stimulus measures after a previous lack…
Local Report Urges Safe Dismantling of Shell’s Infrastructure March 6, 2024 Ekemini Uba A report on the environmental impact of multinational companies in Nigeria stresses the need for Shell to safely dismantle its old infrastructure or cover the costs of remov.al from the…
World Waymo Launches Driverless Passenger Services in Austin, Texas March 6, 2024 Ekemini Uba Alphabet’s Waymo announced on Tuesday its commencement of driverless passenger services for its employees in Austin, Texas, starting Wednesday. Waymo intends to extend its ride-hailing program, Waymo One, to the…
