Fed Govt, Ukraine turn back volunteer fighters
The Federal Government has stated its opposition to the recruitment of Nigerians as mercenaries to fight in Ukraine or elsewhere in the world. This is as the Ukrainian government denied…
APC crisis: Why Buhari approved Buni’s sack
Prominent leaders of the All Progressives Congress (APC) confirmed yesterday that President Muhammadu Buhari approved the removal of the chairman of the party’s Caretaker/Extraordinary Convention Planning Committee (CECPC), Governor Mai…
Excitement as Benin Republic grants Sunday Igboho conditional release
The Benin Republic has granted the embattled Yoruba nation agitator, Sunday Adeyemo (a.k.a. Sunday Igboho), a conditional release. According to a statement signed yesterday by the Communication Secretary to the…
NCDMB: Afreximbank Invested over $42bn in African Enterprises in Five Years
The Nigerian Content Development and Monitoring Board (NCDMB) yesterday disclosed that the African Export-Import Bank (Afreximbank) had invested more than $42 billion in support of African businesses between 2016 and…
Oil could hit $150/barrel if the West sanctions Russia’s energy exports
Since Russia began its special military operation in Ukraine, the United States and other European nations have been reluctant to sanction Russia’s oil and gas exports. This is because the…
Worries as global powers launch new ‘scramble for Africa’
There is another scramble for Africa according to international media, but this time it is about who can best profit from the continent’s business opportunities. And the charge is being…
Transcorp Hotels profit increases by 143% as revenue hits N21.7 billion
Transcorp Hotels Plc has announced its audited financial statements for the full year ended December 31, 2021, showing 114 per cent growth in revenue to N21.74bn from N10.16bn as of…
Stock Market Begins First Trading Week with N32bn Decline
The stock market of the Nigerian Exchange Limited (NGX) commenced March dropping by N32billion on investors’ profit-taking in large-mid capitalised stocks. Particularly, investors’ intense profit-taking activities witnessed in Lafarge Africa…
UBA’s profit rose to N153bn in 2021
United Bank for Africa Plc said it recorded N153bn profit for the 2021 financial year ended December 31, 2021. This was disclosed in a statement, titled ‘UBA delivers N153bn profit,…
CBN plays lead role in agric to create jobs, says Emefiele
The CBN governor Godwin Emefiele has expressed satisfaction with the level of interest and the impact the agriculture sector has recorded in the last six years Emefiele stated that the…
Ukraine-Russia war: Nigeria, others may face commodity supply disruptions, says IMF – Punch
The International Monetary Fund says countries that have very close economic links with Ukraine and Russia are at particular risk of scarcity and supply disruptions. It added that poor households…
Mining, quarrying sector contributed N5.37tn to GDP in 2021’
The mining and quarrying sector recorded a total contribution of N5.37tn to the Gross Domestic Product in 2021, according to the National Bureau of Statistics. This was according to the…
Mortgage rates plunge just as home prices set another record
Mortgage rates are sinking as markets contend with the ramifications of Russia’s attack on Ukraine, and that means home prices are likely to continue surging. The average rate on the…
Russia’s Sberbank collapses 95% on London stock exchange as it exits Europe
Shares of Russia’s Sberbank plunged 95% on the London Stock Exchange on Wednesday to trade as low as a penny after the bank announced that it was pulling out of…
Wheat prices trade ‘limit up’ again, hit highest in nearly 14 years
Wheat futures reached new multiyear highs Wednesday, as war between major exporters Russia and Ukraine continued to raise concerns about the global supply of the commodity. The moves in the…
Uganda Revenue Authority Recored sh1.8 Trillion Tax
Uganda Revenue Authority (URA) collected sh1.8 trillion in tax in January, according to the Ministry of Finance. The latest performance of the economy report released on Monday by the finance…
Amana Capital To Raise $2 Million Funding
Fund manager Amana capital is seeking to raise $2 million (Sh227.8 million) in the form of debt and/or equity. The firm, which lost Sh275 million or a fifth of its…
Treasury Fights Billionaire Rai On Leasing Mumias
The Treasury has opposed West Kenya’s bid for lease of Mumias Sugar Company on concerns that its billionaire owner Jaswant Rai could be keen to derail the revival of the…
World Bank To Provide Fund For Ukraine
The World Bank says it is preparing a $3 billion aid package for Ukraine in the face of Russia’s invasion. The bank said the funding would start with a fast-disbursing…
Naira Exchange At N578 To $1
The naira, on Wednesday, depreciated further against the dollar at the parallel section of the foreign exchange market. Bureaux De Change operators (BDCs), popularly known as ‘abokis’, who spoke to…
Champion Breweries Recorded 520% Increase In Post Tax Profit
Champion Breweries Plc has released its FY 2021 results which revealed 520% growth in post-tax profit, from N159 million in the corresponding period of 2020, to N984 million in the…
Africa Prudential Announces Dividend Payment To Shareholders
Africa Prudential Plc has announced a dividend payment of N0.50 kobo per 50 kobo ordinary share for the financial year ended December 2021. The dividend is subject to appropriate withholding…
Nigeria: Market Capitalization Decreases
The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 26 basis point. The NGX ASI closed at 47,360.79 points, to…
Maersk Suspends All Container Shipping To/From Russia
Maersk, the world’s largest container shipping line, has publicly stated that it will suspend deliveries to and from Russia as a result of the sanctions imposed on the country following…
Ukraine Raises More Cryptocurrency Donations Amid War
With Russia’s invasion continuing, Ukraine has expanded the types of cryptocurrencies it accepts for donations. According to Elliptic, a blockchain analytics company, the Ukrainian government has raised $35 million through…
Nigeria Records 32% Foreign Direct Investments Dip In 2021
Nigeria attracted a sum of $698.78 million as foreign direct investments (FDIs) in 2021, representing its lowest level on record. This is according to data compiled by Nairalytics from the…
Airbnb To Provide Free Housing For 100,000 Ukrainian Refugees
Airbnb, a home rental company, says it is offering free short-term housing to 100,000 Ukrainian refugees fleeing the Russian invasion of their country. Brian Chesky, chief executive officer of Airbnb,…
Halima Dangote Appointed Non-Executive Director Of Dangote Cement
Dangote Cement Plc has appointed Halima Aliko Dangote as a non-executive director. Edward Imoedemhe, deputy company secretary of Dangote Cement, said this in a statement issued on Monday. He said…
Walmart launches A.I.-powered virtual clothing try-on technology for online shoppers
Last May, Walmart announced its acquisition of the virtual clothing try-on startup Zeekit, which leveraged a combination of real-time image processing, computer vision, deep learning and other A.I. technologies to…
Gopuff officially launches its instant delivery service in France
Gopuff is expanding its service to Europe, starting with France, after launching in the United Kingdom late last year. The same-day grocery delivery service is now available in Marseille, Lille,…