OpenAI Reaches $12 Billion in Annualized Revenue Amid Rising User Base and Investor Confidence
OpenAI, the creator of ChatGPT, has seen a major revenue surge in 2025, reaching an estimated $12 billion in annualized…
Category: Business
Tinubu’s $1 Trillion Economic Goal Hinges on Support for Local Industry — Expert Urges Collaboration with Dangote, Ekeh
President Bola Tinubu’s vision to transform Nigeria into a $1 trillion economy by 2030 has been described as bold by…
NAICOM Restricts Use of AI, Blockchain in High-Risk Insurance Products
The National Insurance Commission (NAICOM) has introduced new regulatory guidelines that limit the role of standalone Insurtech firms in handling…
Naira Slightly Weakens Amid Summer Dollar Demand Surge, But Outlook Remains Stable
The naira experienced a minor depreciation across both official and parallel foreign exchange markets on Wednesday, largely due to a…
Dangote Sugar, Berger Paints, others push NGX-ASI above 139,000 points
Nigeria’s equities market extended its bullish run on Wednesday, July 30, 2025, as the Nigerian Exchange All-Share Index (NGX-ASI) closed…
Microsoft and Meta Stocks Soar on Strong AI-Driven Earnings | Tech Shares Lead Market Rally
Tech giants Microsoft and Meta Platforms saw their shares surge in European trading on Thursday following exceptional quarterly earnings released…
FX Liquidity Boost: Nigerian Banks Resume Naira Payments for Foreign School Fees and Medical Bills
Nigerian banks have resumed accepting naira card payments for international tuition fees and medical bills, following a period of suspension…
ECB Warns China-U.S. Trade Rift Could Lower Euro Zone Inflation Below Target
A European Central Bank (ECB) blog post has warned that if China diverts its exports away from the United States…
Fintech Dominates Africa’s Startup Funding in H1 2025, Securing 45% Share
Africa’s fintech sector asserted its dominance once again in the first half of 2025, capturing 45% of all disclosed startup…
Naira Strengthens Amid Forex Oversupply and Security Clampdown — CBN Policies, Investor Confidence Drive Stability
Currency traders have cited a significant oversupply of dollars in the Nigerian forex market, combined with the efforts of security…
Nigeria’s Industrial Sector Shrinks Despite GDP Growth: MAN Urges Manufacturing Focus
Nigeria’s Gross Domestic Product (GDP) grew by 3.13% in Q1 2025, according to the National Bureau of Statistics (NBS), signaling…
Petroleumprice.ng Launches Nigeria’s First Verified Digital Marketplace for Downstream Oil Trading
A Nigerian oil and gas tech firm, Petroleumprice.ng, has officially launched a first-of-its-kind digital marketplace tailored to streamline downstream petroleum…
Investor Confidence and High Yields Drive N4.67 Trillion in FGN Bond Subscriptions in 2025
In the first seven months of 2025, the Federal Government of Nigeria (FGN) bonds drew an impressive N4.67 trillion in…
NCC Leads Push for MVNO Sustainability in Nigeria’s Telecom Sector
The Nigerian Communications Commission (NCC) is taking a leadership role in promoting the sustainable growth of Mobile Virtual Network Operators…
Italy Investigates Meta Over AI Tool Integration in WhatsApp
Italy’s antitrust authority has launched a formal investigation into Meta Platforms Inc. over its integration of an artificial intelligence assistant…
Asian Markets Waver Ahead of Fed Decision and U.S. Tariff Deadline
Asian markets were mixed on Wednesday as investors digested the lack of progress in U.S.-China trade negotiations and prepared for…
Bank of Ghana Cracks Down on Forex Violations: Banks and MTOs Face Licence Revocation Over Non-Compliance
The Bank of Ghana (BoG) has issued a stern warning to financial institutions, threatening to revoke the licenses of those…
African Fintechs Dominate H1 2025 Start-Up Funding, Attracting $640M – Fintech Leads with 45% Share
In the first half of 2025, African fintech startups led the continent’s start-up funding landscape, securing approximately $640 million and…
FCMB Sees Strong Growth as Earnings Hit N529.2bn in H1
FCMB Group Plc has reported strong financial results for the first half of 2025, with gross earnings rising by 41.3%…
Nigerian Stock Market Hits 18-Day Bull Run as NGX Rallies Past ₦85 Trillion — Investors Flock to Equities Amid Strong Earnings
The Nigerian equity market is experiencing an extraordinary bullish streak, notching up 18 consecutive days of gains, a feat last…
Dangote Refinery Withdraws ₦100bn Lawsuit Against NNPC, Marketers Amid Industry Speculation
Dangote Petroleum Refinery and Petrochemicals has abruptly withdrawn its ₦100 billion lawsuit against several key industry players including the Nigerian…
Meta’s Bold Superintelligence Gamble Faces Profit Pressure Amid AI Spending Surge
Meta Platforms is facing heightened scrutiny as CEO Mark Zuckerberg doubles down on a high-risk, high-cost bet to lead the…
Manufacturers Urge CBN to Cut Interest Rates Amid Inflation Crisis
The Manufacturers Association of Nigeria (MAN) has urged the Central Bank of Nigeria (CBN) to cut interest rates, arguing that…
CBN Holds Interest Rates Steady Amid Inflation Pressures, Eyes Economic Stability
The Central Bank of Nigeria (CBN), in a decisive move during its July 2025 Monetary Policy Committee (MPC) meeting, voted…
CBN Rate Hold Spurs Four Smart Investment Strategies: Experts Advise on Fixed Income, Equities, and Eurobonds
The Central Bank of Nigeria (CBN) has decided to maintain its benchmark interest rate at 27.5 percent, a move anticipated…
NGX Gains ₦400bn as Investor Optimism Boosts Trading Activity
The Nigerian Exchange Limited (NGX) kicked off the trading week on a bullish trajectory, gaining ₦400 billion in market capitalisation…
Nigeria’s Agriculture GDP Share Rises to 27.8% in Q1 2025 Despite Sector Challenges
Nigeria’s agricultural sector recorded a notable increase in its GDP share to 27.8% in Q1 2025, according to new data…
Nigeria Enacts New Law Mandating Banks to Report Transactions Over N25m Monthly — NTAA 2026
Beginning January 2026, Nigerian banks, insurance companies, and financial institutions will be required to report monthly transactions exceeding ₦25 million…
GNCCI Urges BoG to Cut Policy Rate by 3% to Boost Private Sector Growth-Ghana
The Ghana National Chamber of Commerce and Industry (GNCCI) has called on the Bank of Ghana (BoG) to reduce the…
AI Data Labeling Startup Micro1 Eyes $500M Valuation in Series A Fundraising
Micro1, a rising competitor to Scale AI, is reportedly nearing completion of a Series A funding round that would value…