ILO Warns of Global Job Losses in 2024, Projects 5.2% Unemployment Rate
The International Labour Organisation (ILO) has issued a projection, stating that approximately two million workers could lose their jobs in…
Author: ayotilewa
Multinationals May Exit Nigeria in 2024 Amid Economic Environment- Report
A recent report by financial solutions firm Cardinal Stone suggests that multinational firms in the Fast Moving Consumer Goods (FMCG)…
Wema Bank Reports Over 130% Growth in Profit
Wema Bank has showcased remarkable financial performance in the third quarter of 2023, as its Profit Before Tax surged by…
Emerging Africa Capital Redeems Series 3 Commercial Paper Worth N1.6Bn
Emerging Africa Capital Limited, an Investment Banking and Financial Services company, announced the successful redemption of its Series 3 commercial…
Nigerian Stock Market Bounces Back, Gains N313bn
The Nigerian Exchange Limited closed on a positive note on Thursday, with investors gaining approximately N313bn. The All-Share Index rebounded…
International Breweries Plc Board Considers Rights Issue and Share Capital Increase
International Breweries Plc’s Board of Directors is set to deliberate on a Rights Issue and an increase in its share…
cNGN Faces Challenges as CBN Plans Transition from eNaira
As the Central Bank of Nigeria (CBN) prepares to introduce cNGN, its stablecoin, through commercial banks and fintech companies, challenges…
EFCC: Ministers get Investigated, ICPC Recovers N50bn
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) successfully recovered N50bn that was on the brink of embezzlement.…
Naira Depreciates by 26.36% Against Dollar as CBN Clears $2bn Debt
The Nigerian Naira has experienced a significant 26.36% depreciation against the US Dollar in the official Investor and Exporter window…
Hassan Imam Gets Appointed as New CEO of Keystone Bank
The Central Bank of Nigeria (CBN) appointed Hassan Imam as the new Chief Executive Officer and Managing Director of Keystone…
FG Allocates N450bn for Power Interventions in 2024 Budget
The Federal Government of Nigeria allocates N450 billion towards power interventions in 2024, as revealed in the budget analysis of…
Nigerian Stock Market Drops by N638bn in the New Year
The Nigerian Exchange Limited experienced its first depreciation in market capitalization for the New Year as the market cap declined…
Oil Marketers Seek Collaboration with Dangote Refinery
Oil marketers, represented by the Independent Petroleum Marketers Association of Nigeria, plan to meet with Dangote Petroleum Refinery management to…
Tinubu Plans Governance Cost Cut- Daniel Bwala
Daniel Bwala, former member of the All Progressive Congress (APC) and spokesperson for the Atiku Abubakar Presidential Campaign team, has…
Union Bank Names Yetunde Oni as Managing Director
On Wednesday, Sidi-Ali Hakama, the acting director of Corporate Communication at the Central Bank of Nigeria (CBN), through a circular…
Nigeria Retains Position as One of the Least Powerful Passports Globally”
Nigeria continues to hold its position as one of the least powerful passports globally, impacting the international opportunities available to…
Three Nigerian Banks Reaches N1trn Market Cap Milestone
This year, three of Nigeria’s largest banks achieved the N1 trillion market capitalization milestone, marking substantial gains in the first…
NNPC Record Profits and Suppressions on Oil Thieves
The Nigerian National Petroleum Company Limited (NNPCL) announced a remarkable profit of N2.548tn in 2022, marking its “highest profit since…
New Leadership at Kaduna Electricity Distribution Plc: Mr Umar Hashidu Takes Helm as CEO
Kaduna Electricity Distribution Plc has welcomed Mr Umar Hashidu as its new Chief Executive Officer (CEO), following the recent resignation…
World Bank Forecasts Nigeria’s Per Capita Income Recovery by 2025
The World Bank’s January 2024 Global Economic Prospects report predicts a return of Nigeria’s per capita income to pre-pandemic levels…
NASENI Signs Multibillion-Dollar MoUs for Technological Advancements
The National Agency for Science and Engineering Infrastructure (NASENI) has inked multibillion-dollar Memoranda of Understanding (MoUs), both new and revived,…
Cash Scarcity Persists: Nigerians Endure High PoS Costs Despite Central Bank Assurances
Nigerian customers continue to face challenges in accessing cash, leading to increased reliance on high-cost PoS services. Despite the Central…
Departure of BPE and FCCPC Heads: Not Dismissals, but Relief from Positions- Presidency
The Presidency has clarified that the departure of the heads of the Bureau of Public Enterprises (BPE) and the Federal…
Ahead of AFCON:Football Fans Express Discontent Over Startimes’ Subscription Price Hike
Football fans are expressing shock and disappointment as StarTimes announces a 15% increase in subscription prices just days before the…
NAFDAC Highlights Strategies for Consumers to Identify Fake Products
In the battle against counterfeit drugs and unwholesome products in the Nigerian market, the National Agency for Food and Drug…
Nigeria Faces 65% Drop in Foreign Investments, Loses Top Spot to Kenya
Foreign investments in Nigerian startups experienced a significant decline, falling by 65.83% year-on-year to $410 million in 2023, down from…
UBA Hits N1 Trillion Market Capitalization
United Bank for Africa (UBA) achieved a significant milestone as its market capitalization surpassed the N1 trillion mark on the…
Equity Market’s Rally Surpasses N3.5 Trillion in Seven-Day Streak
The Nigerian Exchange Limited’s bullish run continued into its seventh day on Monday, yielding a daily gain of N365 billion…
cNGN Delays Launch Pending Regulatory Approval
The Africa Stablecoin Consortium has officially postponed the launch of its cNGN stablecoin, originally scheduled for February 27, 2024. The…
UN Highlights Downward Risks to Nigeria’s Growth in 2024
The United Nations, in its ‘World Economic Situation and Prospects 2024’ report, has revealed that Nigeria faces downward risks to…