Global Outage Hits OpenAI’s ChatGPT, Users Worldwide Left Disconnected
OpenAI’s ChatGPT, one of the world’s most popular AI-powered chatbots, experienced a significant global outage on Tuesday, June 10, 2025.…
Category: Business
SEC Orders Companies to Release Long-Unclaimed Dividends, Enforces Finance Act 2020
The Securities and Exchange Commission (SEC) has issued a firm directive to public companies and their registrars, instructing them to…
Nigeria and Saudi Aramco’s $5bn Oil-Backed Loan Stalls Amid Crude Price Drop
Nigeria and Saudi Aramco are facing major hurdles in finalizing a landmark $5 billion oil-backed loan, as falling global crude…
Nigerian Marketers Strike Global Deal to Cut Petrol Price to N700/Litre Amid Industry Shake-Up
Nigerian petroleum marketers have partnered with international suppliers to import cheaper fuel, aiming to reduce petrol prices to around N700…
Naira Holds Firm Below N1,600 as Market Optimism Grows Despite Global Dollar Jitters
The Nigerian naira maintained a relatively strong position below the N1,600/$ mark during the recent holiday period, trading within a…
Meta Bets Big on Scale AI with Historic $10 Billion Investment
Meta Platforms Inc. is preparing to invest more than $10 billion in Scale AI, a move that marks its most…
Dangote Promises Major Overhaul of Nigeria’s Oil Sector Following Tinubu’s Refinery Visit
Aliko Dangote, President of the Dangote Group, has announced plans for a sweeping transformation of Nigeria’s downstream oil sector, signaling…
US-China Trade Talks Enter Day Two Amid Tension Over Tech and Tariffs
Trade negotiations between the United States and China resumed in London for a second day, with both sides aiming to…
Ghana Urges AGOA Renewal as U.S. Tariffs Threaten African Exports
Ghana’s Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has called for the urgent renewal of the African Growth and…
Morgan Stanley Markets $5 Billion xAI Debt Amid Musk-Trump Fallout
Morgan Stanley is marketing a $5 billion debt package for xAI, the artificial intelligence startup owned by Elon Musk, sources…
Nigerian Equities Market Adds N1.81trn in Four-Day Rally, ASI Rises 2.57%
The Nigerian equities market delivered a strong performance during the holiday-shortened week ending June 5, 2025, as the NGX All-Share…
Nigerian Businesses Cautious Amid Optimism as Interest Rate Hike Looms — CBN Survey
A recent survey by the Central Bank of Nigeria (CBN) reveals a mixed economic sentiment among businesses across the country,…
Depot Price War: Six Operators Slash Petrol Rates as Competition Heats Up
Amid growing competition in Nigeria’s downstream petroleum sector, six depot operators have reduced the price of Premium Motor Spirit (PMS),…
Oando deepens upstream investment with $375m financing deal
Oando PLC, a leading Nigerian energy company listed on both the Nigerian and Johannesburg Stock Exchanges, has announced the successful…
GH¢1 Fuel Levy Sparks Concern Over Economic Recovery Amid Calls for Strategic Collaboration-Ghana
Businesses in Ghana have expressed serious concerns about the recent GH¢1 per litre fuel levy, warning that its timing could…
SEC Sets November Deadline for T+2 Settlement Cycle, Aims for Faster, Safer Market
The Securities and Exchange Commission (SEC) of Nigeria has mandated that all capital market participants transition to a T+2 settlement…
Cost-push factors driving Nigeria’s inflation – Survey
Nigeria’s inflation crisis is being primarily driven by supply-side cost pressures rather than excess demand, according to the Central Bank…
GSM Technology Dominates Nigerian Internet Market with Over 141 Million Active Subscribers in April 2025
The Nigerian Communications Commission (NCC) reports that active internet subscribers in Nigeria reached nearly 142 million as of April 2025.…
Oando Surge Lifts NGX Market Cap to N71 Trillion Amid Strong Investor Sentiment
The Nigerian Exchange Limited (NGX) witnessed a remarkable milestone as its total market capitalisation soared to N71.118 trillion, driven largely…
Oil Dips Over 1% as Surging U.S. Fuel Stocks Overshadow Crude Draw and Demand Fears Rise
Oil prices fell by just over 1% on Wednesday following the release of U.S. government data revealing a sharp and…
Firms Blame Soaring Energy and Transport Costs for Nigeria’s Persistent Inflation – CBN
The Central Bank of Nigeria (CBN) has revealed that a vast majority of Nigerian firms cite high energy costs as…
Cedi to Stay Strong as Gold Earnings Boost Reserves – Finance Minister Assures Parliament-Ghana
Finance Minister Dr. Cassiel Ato Forson has assured Ghanaians that the national currency, the Cedi, will remain stable against major…
Nigerian Stock Market Gains N259bn on Back of Broad Investor Confidence
The Nigerian stock market continued its upward momentum as it added N259 billion in value due to renewed investor confidence…
Recapitalization Deadline Looms as Only 10% of Nigeria’s Bureau De Change Comply; Industry Faces Major Shakeup
The recapitalisation deadline for Nigeria’s Bureau De Change (BDC) operators expires today, with less than 10 percent of the approximately…
3 Million Jobs at Risk as 1,500 Nigerian Bureau De Change Operators Fail Recapitalisation Deadline
The Central Bank of Nigeria’s (CBN) June 3, 2025 deadline for Bureau De Change (BDC) operators to meet new recapitalisation…
NGX Market Capitalisation Surges Past ₦120trn as Foreign Investment Floods In
The Nigerian Exchange (NGX) has reached a new milestone, with its combined market capitalisation of debt, equities, and Exchange Traded…
Qwant Files Antitrust Complaint Against Microsoft Over Bing Practices
French search engine Qwant has filed a complaint with France’s antitrust authority, accusing Microsoft of deliberately harming its search result…
Stock Market Rebounds with N260bn Boost as Demand for Dangote Cement, Others Rises
The Nigerian stock market saw a notable rebound on Tuesday, ending the previous session’s profit-taking trend. Investor interest in blue-chip…
50% crude output now produced by local firms – Report
Nigeria’s oil and gas industry is undergoing a major transformation, with indigenous companies now responsible for more than 50% of…
Tariff Hikes Trigger Sharp Decline in Internet Usage and Subscribers in Nigeria
Internet data consumption in Nigeria fell sharply by 17,647 terabytes from January to April 2025, following a 50% tariff increase…