CBEX Reboots Amid Fraud Probes and Regulatory Warnings, Lures Fresh Investors with New Promises
Despite a federal investigation and a reported N1.2 trillion loss impacting over 600,000 Nigerians, Crypto Bridge Exchange (CBEX) has resumed…
Category: Business
Dangote leads industry peers with 60% gross profit margin
In the first quarter of 2025, Dangote Cement emerged as the leading cement manufacturer in Nigeria, achieving a remarkable 60…
Dollar based financing no longer sustainable for startups
At the 21st Annual Africa Venture Capital Association (AVCA) Conference, West African venture capitalists emphasized that dollar-based financing is no…
World Bank: Global commodity prices to drop to six-year low by 2026
The World Bank has sounded the alarm over falling global commodity prices, forecasting a steep 12% decline in 2025 followed…
Stockpiling ahead of tariffs likely hurt US economy in the first quarter
The U.S. economy likely came to a near standstill, or even slipped into contraction, during the first quarter of 2025,…
Intel Gains Interest in Test Chips for Advanced 18A Process Amid Foundry Revamp Plans
Intel’s foundry unit has recently garnered attention from several of its contract manufacturing customers who are interested in building test…
Edo State Investment Forum Targets Global Investors for Economic Growth
Edo State is taking significant strides towards economic growth as it seeks to attract investors through the recently concluded Edo…
Nigerian Telcos Commit Over $1 Billion to Chinese Network Gear in Major Infrastructure Push
Telecommunication operators in Nigeria have placed orders exceeding $1 billion for network equipment from Chinese manufacturers, marking a significant investment…
NGX Sheds ₦116bn as Profit-Taking Drags Market Down
The Nigerian Exchange (NGX) closed Tuesday, April 29th, on a bearish note as investors cashed out profits from major stocks…
Nigeria’s Cold Chain Market: A N160bn Goldmine for Investors Battling Post-Harvest Losses
Nigeria’s cold chain sector, valued at N160 billion as of 2023, is revealing massive investment potential as it struggles to…
Local and International Capital Providers Key to Nigeria’s Economic Growth, Says NGX CEO
At the 21st Annual AVCA Conference and VC Summit in Lagos, Temi Popoola, the Group Managing Director/CEO of the Nigerian…
FCMB Group Posts ₦7.1 Trillion in Assets, Declares Dividend at 12th AGM Amid Strong FY 2024 Performance
At the recently held 12th Annual General Meeting of FCMB Group Plc in Lagos, shareholders endorsed the company’s robust performance…
NNPC Overhauls Leadership: Maryam Idrisu, Obioma Abangwu Appointed Amid Mass Staff Exit
The Nigerian National Petroleum Company (NNPC) Ltd has initiated a significant restructuring of its leadership, appointing Maryam Idrisu as the…
Naira Shows Resilience Despite Declining Reserves, Backed by CBN Reforms and Investor Confidence
Despite a noticeable decline in Nigeria’s external reserves, the naira has held steady in both official and parallel markets, signaling…
Nigerian Breweries Appoints Uzodinma Odenigbo as New Corporate Affairs Director
Nigerian Breweries Plc has announced the appointment of Uzodinma Odenigbo as its new Corporate Affairs Director, effective May 1, 2025.…
FCCPC asks Ibadan Disco to refund customers’ transformer investments
The Federal Competition and Consumer Protection Commission (FCCPC) has directed the Ibadan Electricity Distribution Company (IBEDC) to refund customers for…
Nigeria’s Debt Servicing Surges to N696bn in January, Outpaces Revenue by 144%
Nigeria’s fiscal crisis deepened in January 2025 as the Federal Government spent a staggering N696.27bn on debt servicing, an amount…
European Markets End on a High, FTSE 100’s Winning Streak Continues Amid Trade Uncertainty
European stock markets closed higher on Thursday, with most sectors seeing gains despite ongoing concerns about trade uncertainties. The pan-European…
CNBC Daily Open: U.S. consumers are starting to feel the pinch of Trump tariffs
U.S. consumers are increasingly feeling the economic consequences of President Donald Trump’s tariffs, with price hikes and potential supply shortages…
Emerging Economies Show Greater Trust in AI, Survey Finds
A new global survey from the University of Melbourne and KPMG reveals that people in emerging economies are more trusting…
Stocks Steady, Dollar Firms as U.S. Eases Auto Tariffs Amid Market Jitters
Markets opened Tuesday on a cautious yet slightly positive note after the U.S. announced a softening of auto tariffs, easing…
Naira Stays Firm Below ₦2,200/£ as Global Pound Strength Faces Local Resistance
The Nigerian naira held firm against the British pound in the unofficial market, closing at around ₦2,177/£ as of April…
Fitch Upgrades Credit Ratings of Lagos, Kaduna, Kogi, and Oyo States Amid Nigeria’s Economic Reforms
Global credit rating agency Fitch Ratings has upgraded the Long-Term Issuer Default Ratings (IDRs) of Lagos, Kaduna, Kogi, and Oyo…
Richard Quaye Retires from Bills Micro Credit; Kwadwo Kwarteng Named New Board Chair-Ghana
Business heavyweight Richard Nii Armah Quaye has officially retired from his role as Board Chairman of Bills Micro Credit, drawing…
MTN Ghana Confirms Data Breach Affecting 5,700 Customers, Launches Investigation
MTN Ghana has officially confirmed that approximately 5,700 of its customers may have been affected by a recent data breach…
Bullish Run on NGX: International Breweries, Cadbury Spark N228bn Market Surge
The Nigerian Exchange (NGX) sustained its bullish trend on Monday, led by notable gains in blue-chip stocks such as International…
Nigeria’s SEC Recognizes Crypto as Securities: What It Means for the Industry
In a landmark move, Nigeria’s Securities and Exchange Commission (SEC) has officially classified cryptocurrencies as securities under the newly updated…
FG Approves Textile Development Board and $90bn Agribusiness, Livestock Growth Plan
The National Economic Council (NEC), chaired by Vice President Kashim Shettima, has approved the establishment of the Cotton, Textile, and…
Nigerian Banks See 51% Surge in Customer Deposits to N140.97 Trillion in 2024 Amid Economic Challenges
In 2024, Nigerian banks achieved a remarkable 51% growth in customer deposits, reaching N140.97 trillion, compared to N93.5 trillion in…
Global Debt Challenges: Navigating Fiscal Policy Amid Economic Uncertainty
Amid escalating global uncertainty, governments face tough choices in balancing rising public debt with economic growth and urgent spending needs.…