Premium Pension AUM rises to N1.134trn
Premium Pension Limited, a leading Pension Fund Administrator (PFA) in Nigeria, achieved significant growth in its Assets Under Management (AUM),…
Author: ayotilewa
AI to contribute $1.2 trillion to Africa’s economy by 2030
Microsoft has forecasted that Artificial Intelligence (AI) will contribute approximately $1.2 trillion to Africa’s economy by the year 2030. This…
Low turnout of passengers at airports despite Eid-el-Fitri holiday
Despite the long holiday declared for the Eid-el-Fitri celebration, airports across the country experienced low turnout of passengers, as observed…
CAC places FBN Holdings records on caveat
The Corporate Affairs Commission (CAC) has taken action amid the crisis rocking the board of First Bank of Nigeria (FBN)…
Air Peace denies abandoning passengers at Gatwick Airport
Nigeria’s flag carrier, Air Peace, has refuted claims that it abandoned passengers at Gatwick Airport, London, and closed its counter…
FBN Holdings plans N300bn fresh capital raise
FBN Holdings, a financial holding company, has announced its intention to seek shareholders’ approval to raise an additional N300 billion…
Nigeria to secure $1.05 billion loan backed by oil
Nigeria is set to receive a $1.05 billion syndicated loan backed by oil from the African Import Export Bank next…
UAE Airlines may resume flights to Nigeria before June- Aviation Minister
Mr. Festus Keyamo, the Minister of Aviation and Aerospace Development, has announced that United Arab Emirates (UAE) airlines might restart…
NNPC faces $3 billion debt to fuel traders
The Nigeria National Petroleum Company Limited (NNPCL) reportedly owes approximately $3 billion to fuel traders for imported petrol, according to…
Airport customs records N45.23 billion revenue in Q1
The Murtala Muhammed Airport Command (MMA) of the Nigeria Customs Service (NCS) announced that it generated N45.23 billion from importers…
Zenith Bank reports 202.3% increase in profit
Zenith Bank Plc released its 2023FY results, demonstrating continued strong performance throughout the year. The group’s profit before tax surged…
Tariff Hike: NSE seeks stiff sanctions for defaulting DISCOs
The Nigerian Society of Engineers (NSE) has urged for strict penalties on electricity distribution companies (DisCos) that fail to provide…
Cooking gas prices surge by 38%
The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has soared to N14,150 for a 12.5kg cylinder,…
Nigeria set to receive $1.05 billion syndicated loan backed by oil
The federal government has finalized arrangements to receive a $1.05 billion syndicated loan backed by oil by the end of…
Nigeria’s inflation rate to remain high in 2024 — World Bank
The World Bank has projected a lower inflation rate compared to February 2024, which stood at 31.7 percent. In its…
Forex losses hit currency dealers as CBN slashes BDC rate to N1,117.5/$
Currency dealers expressed concern over mounting losses and decreasing demand for the dollar as the naira continued to appreciate in…
Stock market investors record N623 bn loss
Last week, stock market investors in Nigeria experienced losses amounting to N623 billion as fund managers adjusted their portfolios in…
Testing begins on 700 megawatts zungeru hydroelectric power plant
The Federal Government has announced the commencement of testing on the 700 megawatts Zungeru Hydroelectric Power Plant, located in Niger…
Petrol: Oil marketers propose N550/litre price to Dangote
As the Nigerian National Petroleum Company, NNPC Limited, works to alleviate petrol scarcity in Lagos and its surroundings, Dangote Refinery…
$200 million Landmark Beach Resort to be demolished for costal highway project
The Lagos State Government has issued a notice to demolish the $200 million Landmark Beach Resort, citing obstruction to the…
Equity market faces third consecutive weekly loss
The Nigerian equities market faced its third consecutive weekly loss as investors grappled with the potential impact of the Central…
FCMB supports ReelFruit on sustainable manufacturing
First City Monument Bank (FCMB) has reiterated its dedication to sustainable manufacturing practices aimed at reducing negative environmental impacts and…
High costs push manufacturing exports down 62% in 4yrs
The manufacturing sector’s contribution to Nigeria’s non-oil exports has experienced a significant decline of 62% over the past four years.…
Cashew farmers see low output on harsh harmattan
Cashew farmers in Nigeria anticipate a slight decrease in output for the 2024 season due to the severe harmattan season…
CBN’s policy reforms propel naira to high, but challenges remain
The Central Bank of Nigeria (CBN) has successfully implemented most of its long-awaited monetary policy reforms, providing a window of…
U.S. treasury secretary urges China to address global economic concerns
U.S. Treasury Secretary Janet Yellen recently highlighted growing worries about China’s excessive manufacturing capacity, emphasizing the issue during economic discussions…
A near-miss cyberattack put US officials and the tech industry on edge
Last month, German software developer Andres Freund, employed by Microsoft, made a startling discovery during performance tests. He found that…
Johnson & Johnson to acquire Shockwave medical for $12.5 Billion
In a significant move to expand its portfolio of medical devices for heart disease treatment, Johnson & Johnson (J&J) has…
Indonesia reconsiders export regulations after business group raise concerns
Indonesia is reviewing regulations aimed at limiting imports of over 3,000 products, according to a senior trade ministry official. The…
Foxconn forecasts revenue growth in Q2 after dip in Q1
Foxconn, the world’s largest contract electronics manufacturer and key assembler of Apple’s iPhone, anticipates a rise in second-quarter revenue following…