Business Finance investment Local Data Challenges Hinder Progress of Micro Pension Plan January 15, 2025 Ekemini A pension expert, Michael Oyebola, has highlighted several data-related issues affecting the effectiveness of the Micro Pension Plan (MPP) in Nigeria. These issues, which include inconsistent, incomplete, and illegible data,…
Business Local Technology MTN Nigeria Becomes First to Achieve Compliance Certification in Telecom Industry January 15, 2025 Ekemini MTN Nigeria has achieved a groundbreaking milestone by becoming the first Nigerian organization and the first within the telecommunications industry to earn the prestigious Compliance Management System (CMS) certification from…
Business International Technology TikTok Prepares for Potential U.S. Shutdown on Sunday January 15, 2025 Ekemini TikTok is gearing up to shut off access to its app for U.S. users on Sunday, pending the Supreme Court’s decision to block a federal ban. The law, set to…
Business Finance Local Macroeconomic Naira fall takes $310bn toll on economy January 15, 2025 Ekemini Nigeria’s economy has suffered a $310 billion loss in GDP over the past decade, driven by naira devaluation, low productivity, and stagflation. Once Africa’s largest economy, Nigeria now ranks fourth…
Business investment Macroeconomic Bitcoin, dollar assets top investments to watch January 15, 2025 Ekemini As Nigerians evaluate investment options for 2025, experts highlight key opportunities in dollar savings, Nigerian stocks, and other assets. In 2024, naira depreciation provided substantial returns for dollar-denominated investments, with…
Business Finance Local Macroeconomic CBN fines 9 banks N1.35bn for failing to dispense cash via ATMs January 15, 2025 Ekemini The Central Bank of Nigeria (CBN) has fined nine banks N1.35 billion for failing to ensure cash availability through automated teller machines (ATMs) during the festive season. Each bank was…
Banking Business Finance Local Stanbic IBTC Pension Managers reintroduces self-service channels January 15, 2025 Ekemini Stanbic IBTC Pension Managers has announced the reintroduction of its self-service channels, aimed at enhancing customer experience and simplifying pension management. The company, a subsidiary of Stanbic IBTC Holdings PLC,…
Business Local Macroeconomic Nigerian Reforms and Rising Demand to Drive Africa’s 4.2% GDP Growth in 2025 January 15, 2025 Ekemini The Brookings Institution has forecasted a 4.2% growth in Africa’s GDP for 2025, an improvement from 2023’s 3.1%, per the African Development Bank. The increase is attributed to economic reforms,…
Business International investment Japanese Investors Sell Foreign Assets for Third Consecutive Month in December January 14, 2025 Ekemini Japanese investors continued to offload foreign assets for the third month in a row in December, responding to rising U.S. bond yields and profit-taking amid fluctuations in the yen. The…
Business Technology Strategies to push top companies into adopting AI in 2025 January 14, 2025 Ekemini A new report by PwC forecasts a significant increase in AI adoption among leading companies in 2025, as organizations recognize its potential to fulfill core business strategies. In 2024, 49%…
Business Finance Technology Telcos, ICT firms owe banks N1.69trn as tariff hike looms January 14, 2025 Ekemini Telecommunications and ICT companies in Nigeria owed banks N1.69 trillion as of September 2024, reflecting a slight decrease of N68.04 billion compared to September 2023. The reduction aligns with the…
Business Economy Finance Local FG Confident in Achieving N36.35 Trillion Revenue Target for 2025 January 14, 2025 Ekemini The federal government is optimistic about meeting its ambitious N36.35 trillion revenue target for 2025, thanks to significant economic reforms. Speaking at a National Assembly hearing on the 2025 Appropriation…
Business Economy Local Technology FG unveils Digital Trade Desk to boost Nigerian startup funding to $5bn January 14, 2025 Ekemini The Nigerian government has introduced a new initiative called the Digital Trade Desk, aimed at accelerating funding for local startups. The initiative, unveiled by the Minister of Communications, Innovation, and…
Business International Technology Apple and Samsung Face Decline in Smartphone Shipments Amid Rising Chinese Competition January 14, 2025 Ekemini Smartphone shipments for Apple and Samsung both declined in the fourth quarter of 2024, according to preliminary data from the International Data Corporation (IDC). Apple’s shipments fell by 4.1%, totaling…
Business International Technology US lawmakers urge Biden to extend TikTok Jan. 19 ban deadline January 14, 2025 Ekemini Two Democratic lawmakers have urged Congress and President Joe Biden to extend the Jan. 19 deadline for ByteDance, the Chinese parent company of TikTok, to sell its U.S. assets or…
Business International Technology India’s HCLTech tumbles nearly 10% after Q3 revenue miss January 14, 2025 Ekemini HCLTech, India’s third-largest software services provider, saw its shares tumble nearly 10% on January 14, marking its worst session since 2015. The company reported a 5.1% increase in consolidated revenue…
Business International Technology EU Reevaluates Big Tech Investigations Under Digital Markets Act January 14, 2025 Ekemini The European Commission is reassessing ongoing investigations into Apple, Google, and Meta under the Digital Markets Act (DMA), a landmark regulation targeting Big Tech’s dominance. According to the Financial Times,…
Business Economy International Technology US Tightens AI Chip Export Controls Amid Backlash from Tech Industry January 14, 2025 Ekemini The United States is introducing stricter regulations on the export of advanced AI chips and related technology to numerous countries, aiming to safeguard national security and maintain global AI leadership.…
Business Finance Local Macroeconomic Stock Price of FBN Holdings Crashes by 5.63% January 14, 2025 Ekemini The stock price of FBN Holdings Plc fell by 5.63% on the Nigerian Exchange Limited (NGX), closing at ₦28.50 per share, down from ₦30.20. The decline reflects investor caution as…
Business investment Local Macroeconomic FX Appetite Drives 79.4% Surge in Mutual Funds to N3.8 Trillion January 14, 2025 Ekemini The growing appetite for foreign currency investments, especially dollar-denominated assets, has propelled Nigeria’s mutual funds to a record N3.829 trillion, marking a 79.4% year-on-year growth by December 27, 2024. According…
Business Finance Local Macroeconomic Value of eNaira rises by 57% to N18.32 bn January 14, 2025 Ekemini The value of the eNaira, Nigeria’s digital currency introduced by the Central Bank of Nigeria (CBN) in 2021, increased significantly by 57% year-on-year (YoY), reaching N18.32 billion in the first…
Business Finance Local Macroeconomic Naira appreciates to N1,655/$ in parallel market January 14, 2025 Ekemini The Naira appreciated in the parallel market yesterday, trading at N1,655 per dollar compared to N1,665 last weekend. However, according to data from the Central Bank of Nigeria (CBN), the…
Business Finance Local Macroeconomic Investors lose N51bn as equity market shrinks January 14, 2025 Ekemini The Nigerian Stock Exchange (NGX) recorded a N51bn decline in market capitalization on Monday, closing at N64.3tn. The NGX All-Share Index fell by 0.08% to 105,367.25, though it maintained a…
Business Finance Local Macroeconomic December inflation projected to hit 35.20% January 14, 2025 Ekemini Nigeria’s inflation rate is projected to rise to 35.20% in December 2024, driven by persistent price pressures, according to the Cowry Weekly Financial Markets Review & Outlook. This follows a…
Business Economy Finance Local Nigerian Banks’ Market Capitalisation Hits N7.90tn January 14, 2025 Ekemini Eleven Nigerian banks have collectively achieved a market capitalization of N7.90tn, showcasing varying performance across the sector. Zenith Bank PLC leads with a market cap of N1.47tn, driven by a…
Breaking Local Politics BREAKING: Mojisola Meranda Emerges New Lagos Assembly Speaker After Mudashiru Obasa’s Impeachment January 13, 2025 Ekemini Hon. Mojisola Lasbat Meranda has been elected as the new Speaker of the Lagos State House of Assembly, Mudashiru Obasa, who was impeached over allegations of gross misconduct and abuse…
Business Finance Local Nigeria’s Foreign Trade by LC Payments Down 52.5% YoY to $506.1m January 13, 2025 Ekemini Nigeria’s foreign trade by Letter of Credit (LC) payments declined by 52.5% Year-on-Year (YoY) to $506.1 million in the first nine months of 2024, compared to $1.07 billion during the…
Business Finance investment Local Investors Return Rise by N1.13trn as Stock Market Surge Further January 13, 2025 Ekemini In the second week of trading in 2025, Nigerian stock market investors experienced a significant surge, in market capitalization growing by N1.13 trillion. The benchmark Nigerian Exchange Limited All-Share Index…
Business investment Local CBN unveils diaspora-friendly accounts to boost investments January 13, 2025 Ekemini The Central Bank of Nigeria (CBN) has introduced two new accounts designed to attract investments from Nigerians living abroad. The Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment…
Business Finance International investment Technology Apple Urges Shareholders to Reject Call for DEI Programme Rollback January 13, 2025 Ekemini Apple’s board has urged investors to reject a proposal aimed at dismantling its Diversity, Equity, and Inclusion (DEI) programs. The motion, put forward by the conservative National Center for Public…
