Nigerian BDC Operators and CBN Head for Showdown Amidst Market Manipulation Claims
Bureau de Change (BDC) operators and the Central Bank of Nigeria (CBN) seem to be on a collision course as…
Author: akintunde
Stock Market Buzz: FBN Holdings, Japaul, UBA, and More Drive Active Trading Frenzy
In a dynamic trading session, the Nigerian stock market witnessed high activity, with FBN Holdings, Japaul Gold, UBA, Access Corporation,…
Twiga Foods CEO Transfers Land from President’s Scheme to Private Company
Twiga Foods CEO, Peter Njonjo, transferred 20,000 acres of land allocated to him by the administration of President William Ruto…
Nigeria Warns of Potential Flooding from Lagdo Dam Opening in Cameroon
The Nigerian government has issued a warning that several states located along the path of the River Benue could experience…
Central Bank of Nigeria Renews Currency Swap Agreement with China After Expiry
Contrary to previous reports indicating that the currency swap agreement between Nigeria and China had expired, the Central Bank of…
KPMG Nigeria Adjusts Economic Forecast to 2.65%
KPMG Nigeria Adjusts Economic Forecast to 2.65%, Citing Factors Such as Oil Production Contraction and Reforms Impact. KPMG Nigeria has…
Nigerian Crypto Platform Patricia Plans to Repay Hacked Funds with Debt Management Token, Tied to Profitability
Nigerian cryptocurrency platform Patricia has revealed its intention to use a newly created debt management token, the Patricia Token (PTK),…
AIIM and N+ONE Partner to Drive Pan-African Data Center and Cloud Services Platform
African Infrastructure Investment Managers (AIIM) and N+ONE DATACENTERS are collaborating to establish a groundbreaking Pan-African data center and cloud services…
Nigeria Loses 400,000 Barrels of Crude Oil Daily to Theft Despite Efforts to Curb Menace
Despite ongoing efforts to combat crude oil theft, Nigeria is still losing around 400,000 barrels of crude oil daily to…
Nigerian Banks and Listed Companies Fined N125m for Failing to Submit Financial Statements
A total of eight banks and 18 listed companies in Nigeria have been collectively fined N125 million for their failure…
Over 88% of Working-Age Nigerians Lack Salary-Paying Jobs: NBS Data Reveals
Recent findings by The PUNCH indicate that a staggering 88.2% of working-age Nigerians are without salary-paying jobs. Data sourced from…
Nigerian Economy Suffers N1 Trillion Loss Across 26 Sectors in Q2 2023
The Nigerian economy continues to grapple with challenges as the food, textile, and 24 other sectors face a staggering loss…
Equity Market Shake-Up: Domestic Investors Steal the Show, Foreigners Left Cautious – NGX Report Reveals
The allure of foreign investments in equities has taken a hit due to ongoing macroeconomic challenges, as revealed in a…
KRA’s Dynamic Move: Real-Time Surveillance on Mobile Money Transactions for Enhanced Tax Compliance
The Kenya Revenue Authority (KRA) has embarked on a groundbreaking initiative to closely monitor transactions within mobile merchant accounts, including…
Shilling’s Slide Spurs Currency Gains: Tier One Banks Record Substantial Earnings Boost in H1 2023
Tier one banks in Kenya have experienced a noteworthy surge in currency gains, amassing a total of Ksh 14.5 billion…
Pyrethrum Power Surge: Kentegra Biotechnology Secures $15 Million Financing for Blossoming Growth
Nairobi-based pyrethrum pioneer, Kentegra Biotechnology, is set to receive a significant boost with a financial injection of Ksh 2.1 billion…
NBK Reports Ksh 3.84 Billion Loss, Hit by Compensation Payout; KCB Evaluates Capital Injection
National Bank of Kenya (NBK), a subsidiary of KCB Group, has announced a net loss of Ksh 3.84 billion for…
Kenya Power Seeks Government’s Help to Convert Dollar Debt Amid Depreciating Shilling
Kenya Power, the country’s power distribution company, is actively seeking the assistance of the government to convert a portion of…
Central Bank of Kenya Gains Enhanced Powers to Vet Beneficial Owners and Regulate Large Cash Transactions
The Central Bank of Kenya (CBK) has been granted expanded authority to scrutinize not only directors and senior managers but…
Access Bank Ghana Reports Strong Half-Year Financial Performance with 65.4% Growth in Profit Before Tax
Access Bank Ghana has announced robust financial results for the first half of 2023, reporting a significant growth of 65.4%…
UBA Partners with UNDP to Empower Youth and Women-led MSMEs in Ghana and Promote Climate Financing
United Bank for Africa (UBA) Plc has entered into a Memorandum of Understanding (MoU) with the United Nations Development Programme…
Boosting Export Trade: Nigerian Customs Service to Expedite Local Commodities’ Quick Export
The Free Trade Zones (FTZs) Committee, focused on reshaping Nigerian Customs Service (NCS) operations, has recommended the immediate allowance for…
NCC’s Local Content Initiatives Bolster Telecom Sector: Ban on SIM Imports Spurs Job Creation
The Nigerian Communications Commission (NCC) has revealed that its strategic policies, particularly those focused on local content development, have yielded…
Reviving Tax Amnesty Scheme and Renewed Hope: Nigeria’s Fiscal Policy Reforms”
The Federal Government has unveiled plans to reintroduce the national tax amnesty scheme, as revealed in a statement released on…
Rising Tide of Financial Fraud: Nigerian Banks Grapple with 24,232 Cases in H1 2023
Nigerian banks have been besieged by a surge in fraud incidents during the first half of 2023, totaling 24,232 cases,…
Manufacturing Sector Unemployment Crisis: A Deep Dive into Nigeria’s Employment Conditions
The Manufacturers Association of Nigeria (MAN) has revealed a concerning decline in the Current Employment Condition, indicating a drop from…
Naira’s Decline to N910 Sparks P2P Dollar Rush Amid FX Reserves Concerns
In a dynamic market twist, the Nigerian Naira plummeted to as low as N910 against the dollar, later moderating to…
IHS Towers: Naira’s Rollercoaster Ride Costs $31 Million, Revenue Takes a Dip
The economic landscape takes a twist as IHS Towers, the world’s fifth-largest independent TowerCo, reveals a $31 million hit caused…
Nvidia’s Explosive Q2 Earnings: A Whirlwind Ride in the Generative AI Gold Rush!
Step into the world of generative AI as Nvidia’s Q2 earnings soar beyond expectations, unveiling a gold mine in the…
Chaos Unleashed: Shocking Revelation of an International Cyber-Crime Gang’s Rampage! Are Tech Titans Under Siege?
A court verdict exposes an 18-year-old from Oxford as a vital cog in a global cyber-crime syndicate responsible for a…