Africa Finance Market World Alan Kyerematen Plans to Revitalize Ghana’s Economy February 6, 2024 Ekemini Uba Alan John Kwadwo Kyerematen, Leader and Founder of the Movement for Change, has introduced his Great Transformational Plan (GTP) aimed at lifting Ghana out of its persistent economic challenges and…
Local NAFDAC Bans Alcoholic Beverages in Sachets Under 200ml February 6, 2024 Ekemini Uba The National Agency for Food and Drug Administration and Control (NAFDAC) has officially declared its intention to enforce the ban on alcoholic beverages produced in sachets less than 200ml. The…
Africa Breaking Europe Investing investment Local World World Bank’s Managing Director to Embark on Visit to Nigeria February 6, 2024 Ekemini Uba Anna Bjerde, the Managing Director of Operations at the World Bank, is poised to undertake a pivotal two-day engagement in Nigeria, marking her inaugural trip to the country in her…
Banking Breaking Business Currency Finance Local Market Trade Dollar Supply Surges, Naira Closes Week at N1435.53/$ February 5, 2024 Ekemini Uba In the official foreign exchange market, dollar supply witnessed a significant increase, rising by 180.59 percent to $440.13 million on Friday. 00he naira concluded the week at N1435.53/$ after a…
Commodities environment Finance Investing Local N146bn Needed for Marina Shoreline Repairs- FG February 5, 2024 Ekemini Uba The Minister of Works, David Umahi, has highlighted the need for N146 billion to repair the deteriorating Marina shorelines during a joint inspection of lagoon sections including the Third Mainland,…
Business Commodities Finance Investing Local Neveah Ltd Redeems N2.92bn Commercial Papers February 5, 2024 Ekemini Uba Neveah Limited, a commodity trading company specializing in solid minerals and agricultural products, has fulfilled its obligation by redeeming the N2.92 billion Series 7, 8, and 11 commercial papers issued…
Africa Business Finance Local NGX Regulation, IFRS, and FRC Nigeria Commits to Sustainability Reporting February 5, 2024 Ekemini Uba The NGX Regulation Limited, IFRS Foundation, and Financial Reporting Council of Nigeria have reaffirmed their dedication to promoting sustainability reporting initiatives among listed companies. This commitment was reiterated at the…
Africa Business Commodities Energy Ghana Cabinet Withdraws 15% VAT on Electricity February 5, 2024 Ekemini Uba The Ghanaian Cabinet has decided to retract the 15% Value Added Tax (VAT) on electricity in response to widespread public outcry and threats of nationwide industrial action. Sources close to…
Africa Business Commodities Market World COCOBOD Dismisses Reports on Cocoa Importation as “Misinformation” February 5, 2024 Ekemini Uba COCOBOD has refuted media reports regarding a leaked official letter purportedly approving the importation of 2,500 metric tonnes of cocoa beans from Cote d’Ivoire and Nigeria. In a statement dated…
Local Pres. Akufo-Addo Sends Condolence on the Passing of Namibian President February 5, 2024 Ekemini Uba President Nana Addo Dankwa Akufo-Addo has extended his condolences to the Government and people of Namibia following the passing of their President, His Excellency Hage Geingob. Geingob, who served as…
Banking Breaking Business Europe Finance World Iraq Bans Eight Local Banks from U.S. Dollar Transactions February 5, 2024 Ekemini Uba Iraq has implemented a ban on eight local commercial banks from conducting U.S. dollar transactions as part of efforts to mitigate fraud, money laundering, and other illicit uses of U.S.…
Breaking Business Finance Investing investment Local Stock Trade Shell PLC Returns $23bn to Shareholders February 2, 2024 Ekemini Uba Shell Plc, in a statement released by its Chief Executive Officer, Wael Sawan, announced that it returned $23 billion to shareholders in 2023. The company’s cash flow from operations (CFFO)…
Banking Breaking Business Currency Finance Local Trade CBN Sets $1m Minimum Share Capital Requirement for IMTOs February 2, 2024 Ekemini Uba The revised guidelines for the operation of IMTOs, officially released via the CBN’s website and signed by Dr. Hassan Mahmud, the Director of the Trade & Exchange Department has established…
Banking Breaking Business Commodities Finance Investing Local Market Stock Trade Bullish Trading on Stock Market, Gaining N902bn February 2, 2024 Ekemini Uba The stock market experienced a bullish resurgence on Thursday, resulting in a substantial gain of N902 billion. The All-Share Index and market capitalisation of the domestic bourse rose by 1.63…
Africa Asia Breaking Europe Local Technology World Delta Air Lines Ranks 11th on 50 Most Admired Companies List February 2, 2024 Ekemini Uba Delta Air Lines has secured the 11th position on Fortune Magazine’s prestigious Top 50 Most Admired Companies list, making it the most admired company in the airline segment of the…
Banking Business Commodities Currency Finance Local Market Trade Banks Rush to Sell Excess FX Holdings Ahead of CBN Deadline February 2, 2024 Ekemini Uba Commercial banks in Nigeria were in a frenzy on Thursday as they worked tirelessly to offload their surplus foreign exchange holdings ahead of the midnight deadline set by the Central…
Banking Business Finance Fintech investment Local Trade FBN Holdings Reports N309bn Profit February 2, 2024 Ekemini Uba FBN Holdings, in its Unaudited Consolidated Financial Statements for the period ended December 31, 2023, announced a substantial profit of N309.89 billion. This represents a remarkable 128% increase compared to…
Breaking Business Commodities Local Technology Google Launches Advanced AI Model in Nigeria February 2, 2024 Ekemini Uba Google has unveiled its most advanced Artificial Intelligence model, Gemini Pro, in Nigeria on Thursday. Gemini Pro represents an enhanced version of Google’s previously launched AI model, Gemini, which debuted…
Business Commodities Finance investment Local Dangote Refinery: NIMASA Foresees Revenue Decline February 1, 2024 Ekemini Uba The Nigerian Maritime Administration and Safety Agency (NIMASA) has projected a decrease in revenue following the commencement of operations by the Dangote Refinery. According to NIMASA, the anticipated drop in…
Breaking environment Local Lagos State Government to Remove Illegal Buildings in Two Weeks February 1, 2024 Ekemini Uba The Lagos State Government has announced plans to initiate the removal of illegal building attachments and conversions across the state within the next two weeks. Dr. Oluyinka Olumide, the Commissioner…
Commodities insurance Local NIMC Expands Enrolment Systems to Boost NIN Registration February 1, 2024 Ekemini Uba The National Identity Management Commission (NIMC) has authorized the deployment of additional enrolment systems to bolster National Identification Number (NIN) registration across Nigeria. This initiative reflects the commitment of the…
Banking Breaking Business Commodities Currency Finance Local Market Trade CBN Orders Banks to Sell Excess Dollar Stock to Stabilise Exchange Rate February 1, 2024 Ekemini Uba In a bid to stabilize Nigeria’s volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit Money Banks to sell their excess dollar stock by February 1, 2024.…
Breaking Business Finance Local Market Femi Otedola Appointed Chairman of FBN Holdings February 1, 2024 Ekemini Uba FBN Holdings, the parent company of First Bank of Nigeria, has appointed billionaire businessman and investor Femi Otedola as its new chairman of the board of directors. The corporate filing,…
Breaking Business Currency Finance Local Market BDC Operators Suspend Operations Due to Dollar Scarcity February 1, 2024 Ekemini Uba Bureau De Change (BDC) operators in Abuja have announced the suspension of their operations due to the unavailability of dollars. Mallam Abdulahi Dauran, Chairman of the Association, made this announcement…
Commodities Energy environment Local FG Explores Green Hydrogen Opportunities for Cleaner Energy Transition February 1, 2024 Ekemini Uba The Federal Government has embarked on exploring opportunities in green hydrogen as part of its efforts to transition from fossil fuels to cleaner energy sources. The Minister of State for…
Business Commodities Local Market Port Harcourt Refinery Undergoes Test-run February 1, 2024 Ekemini Uba The Federal Government confirmed on Wednesday that the Port Harcourt Refining Company is currently undergoing test runs, with refined petroleum products expected to enter the market shortly. This announcement came…
Breaking Business Finance Local EFCC Investigates Controversial Nigeria Air Deal-Festus Keyamo February 1, 2024 Ekemini Uba Minister of Aviation and Aerospace Development, Festus Keyamo, revealed on Wednesday that the Economic and Financial Crimes Commission (EFCC) is probing the Nigeria Air deal initiated by his predecessor, Hadi…
Breaking Business Finance investment Local CBN Clears Foreign Airlines’ Unpaid Claims January 31, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) announced that it has settled outstanding payments owed to foreign airlines operating in the country. According to the CBN, it has disbursed an additional…
Local Sky Logistics Launches Scholarship Program for Nigerian Travel Agencies January 31, 2024 Ekemini Uba Sky Logistics Limited (GSA Nigeria) Delta Air Lines Incorporated has introduced a scholarship program aimed at supporting select travel agencies in Nigeria. The initiative represents the airline’s commitment to corporate…
Business Commodities Local Technology Jetour Introduces X90 Plus ‘Cruise’ SUV to Nigerian Market January 31, 2024 Ekemini Uba Jetour Mobility Service has unveiled the X90 Plus, also known as ‘Cruise’, in the Nigerian market, offering enhanced features and comfort. The vehicle boasts 35 smart storage options, 36 decibel…
