Egbin Power Gets 3 ISO Certifications
Egbin Power Plc, Nigeria’s largest power generation company, has been awarded three ISO certifications: ISO 45001:2018 for Occupational Health &…
Category: Business
NGX’s Boss Backs FCMB’s N110.9bn Capital Raise
Temi Popoola, Group CEO of the Nigerian Exchange Group (NGX), has commended FCMB Group for its successful capital raise of…
Dangote refinery insists crude supply woes persist, blames NUPRC
Dangote Refinery, Africa’s largest oil refinery, has reiterated its struggle to secure sufficient crude oil supplies, despite Nigerian National Petroleum…
Top mineral resources by African country – EIU
In recent years, the Gulf Cooperation Council (GCC) has increasingly turned its attention to Africa, recognizing the continent’s vast potential…
New CBN circular clarifies existing rule on certificate of capital importation for forex repatriation, divestment
The Central Bank of Nigeria (CBN) has issued a new circular detailing the documentation required for foreign investment divestments and…
Siemens profit beats market view on software but outlook remains guarded
Siemens reported better-than-expected quarterly earnings on Thursday, driven by strong demand for electricity infrastructure and production software. The company achieved…
Who is Tan Su Shan, Singapore bank DBS’s incoming CEO?
Tan Su Shan will take over as CEO of DBS Group from March, succeeding Piyush Gupta, who has led the…
Net FX flows increase by 55% to $25.4 billion in six months – CBN
Net foreign exchange inflows in Nigeria rose to $25.4 billion from January to June 2024, a 55 percent increase compared…
Five-day internet disruption frustrates work from home
On August 1, 2024, Nigerians faced significant network downtime, which impacted internet speed and accessibility. Many people struggled with slow…
Senate probes $1.5bn spent on rehabilitation of Port Harcourt refinery in 2021
The Nigerian Senate has raised concerns about the $1.5 billion allocated in 2021 for the maintenance of the Port Harcourt…
Naira strengthens to 1596 as CBN sells most dollars under Cardoso
On August 7, 2024, the naira gained slightly in official trading due to a $876.26 million sale by the Central…
Axxela, NNPC Gas Company Commission 5km Gas Pipeline
Axxela Limited, in collaboration with NNPC Gas Marketing Limited (NGML), has commissioned a 5km natural gas pipeline network in Victoria…
CBN eases FX pressure, sells $876.26m to end-users at N1,495/$
The Central Bank of Nigeria (CBN) has sold $876.26 million at a rate of N1,495 per dollar through a Retail…
IHS Towers, MTN renew lease
IHS Towers and MTN Nigeria have renewed their tower lease agreements for another eight years. The new deal extends all…
Investors Rethink Japanese Multinationals Amid Yen Strength
The strengthening yen is prompting investors to reassess the prospects of Japanese multinational companies, which had previously benefited from a…
Lyft forecasts soft quarter after delivering net profit in Q2
Lyft’s shares fell over 10% in premarket trading on Wednesday after the company issued a cautious forecast for the current…
Tim Walz’s Record as Minnesota Governor: An Overview
Since Tim Walz became Minnesota’s governor in January 2019, the state’s economic performance has generally lagged behind national trends. Minnesota’s…
Credit to economy falls 1.5% to N102.7trn
In June, banks’ lending to the economy fell by 1.5% from May, dropping to N101.2 trillion. This decrease was noted…
CBN okays Unity, Providus Banks’ merger arrangement
The Central Bank of Nigeria (CBN) has approved the merger between Unity Bank and Providus Bank. This decision was announced…
US, Africa Investment Summit To Hold In September
The Sub-Saharan Africa Business and Investment Summit (SSABIS) will return in September 2024, following the success of previous editions. This…
Aviation Unions Seek Tinubu’s Intervention In Arik Air’s Grounding
Three major aviation unions have appealed to President Bola Tinubu for intervention in the grounding of Arik Air’s fleet. The…
CBN steps in to save naira with retail dollar auction
The Central Bank of Nigeria (CBN) is holding a retail dollar auction today in an effort to stabilize the naira,…
Nigeria’s NLNG dividend falls 43% on gas constraints
Nigeria’s revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas supply issues. In…
Dangote to sell 12.5% refinery stake amid liquidity concern
The Dangote Group is considering selling a 12.5% stake in its newly commissioned refinery due to liquidity challenges, according to…
FG unveils comprehensive strategy for economic growth, citizens’ welfare
Nigeria’s Finance Minister, Wale Edun, has outlined the federal government’s strategy to revitalize the economy while prioritizing citizens’ welfare. In…
NGX slumps as global tensions trim N371bn from investors’ wealth
The Nigerian Exchange Limited (NGX) continued its slide on Tuesday, with the All-Share Index dropping by 0.67% to close at…
US transport safety board to hold hearings on Boeing 737 MAX 9 mid-air emergency
The U.S. National Transportation Safety Board (NTSB) is set to question witnesses from Boeing, Spirit AeroSystems, and the Federal Aviation…
Google has an illegal monopoly on search, US judge finds
A U.S. judge has ruled that Google violated antitrust laws by using billions of dollars to establish an illegal monopoly…
Exclusive: Chinese firms stockpile high-end Samsung chips as they await new US curbs, say sources
Chinese tech giants like Huawei and Baidu, along with various startups, are stockpiling high bandwidth memory (HBM) semiconductors from Samsung…
SoftBank seen posting modest profit in Q1, buyback potential in focus
Japan’s SoftBank Group is anticipated to report a modest profit for the first quarter on Wednesday, but investor focus will…