Brazil’s Petrobras approves Chambriard as new CEO
Brazil’s state-owned oil giant Petrobras has a new leader: Magda Chambriard. Her appointment follows the unexpected dismissal of previous CEO…
Category: Business
CBN’s 26.25% interest rate will compound high cost of doing business in Nigeria – MAN
The Manufacturers Association of Nigeria (MAN) is expressing strong concerns over the Central Bank of Nigeria’s (CBN) recent decision to…
Landmark Beach Demands N42 Billion Compensation After Demolition
The management of Landmark Beach is seeking N42 billion in compensation from the Nigerian Federal Government following the demolition of…
Nvidia Co-Founder Surpasses Walmart Waltons in Wealth
Jensen Huang, co-founder of Nvidia, has become a symbol of the booming tech industry’s growing influence. Thanks to Nvidia’s strong…
Prices of basic food items rise 140% — NBS
Nigerians are facing a significant rise in food prices, according to the latest report by the National Bureau of Statistics…
Manufacturer’s Confidence on the Rise in Nigeria
Nigeria’s manufacturing sector is showing signs of optimism for the first time in nearly two years. A survey by the…
Boeing faces ‘long road’ on safety issues, US FAA says
The head of the Federal Aviation Administration (FAA) has cast doubt on Boeing’s ability to quickly resolve safety concerns. This…
BHP Determined to Seal Anglo American Deal Despite Concerns
BHP, the world’s largest mining company, remains committed to its proposed takeover of Anglo American. Despite concerns raised by Anglo…
Tier-1 Nigerian banks earn N392 billion from electronic business
Nigeria’s top tier-1 banks are reaping significant rewards from the growing popularity of electronic transactions. These banks, including UBA, Access…
International Breweries Gets SEC Nod for N588 Billion Rights Issue to Ease Debt Burden
International Breweries has secured approval from the Nigerian Securities Exchange Commission (SEC) to proceed with its planned rights issue. This…
Nigerian businesses need single-digit interest rate to grow economy – CPPE
Nigeria’s central bank (CBN) has raised interest rates for the third time in 2024, in a bid to control high…
Techstars CEO Maëlle Gavet Steps Down Due to Health Reasons
Techstars CEO Maëlle Gavet announced her resignation from the company, effective at the end of May, citing health concerns. Gavet’s…
BoI Disburses N496bn To MSMEs, Creates 2m Jobs
Nigeria’s Bank of Industry (BoI) defied economic downturn by disbursing N496 billion to bolster Micro, Small and Medium Enterprises (MSMEs).…
Azura Power Launches 20kW Solar System To Commemorate Children’s Day
Azura Power West Africa is bringing the light of education to the Knosk Charity School in Kuje with a 20…
AIMAN Seeks Review Of 50% IGR Deduction From Aviation Agencies
The Aeronautical Information Management Association of Nigeria (AIMAN) is lobbying for the Nigerian Airspace Management Agency (NAMA) to be exempt…
Turkish Airlines sacks 7 Nigerian staff over $600,000 ticket racketeering
Turkish Airlines fired seven Nigerian staff members for allegedly costing the airline over $600,000 through ticketing reservation violations. This dismissal…
Nigeria’s $1trn transactions to get new AI-based defence
Nigeria is stepping up its fight against financial fraud as the volume of electronic transactions explodes. With over N1.55 quadrillion…
Naira Holds Steady Against Dollar Despite CBN Rate Hike
The Nigerian Naira remained stable against the dollar at the official foreign exchange market on Wednesday, even after the Central…
Diesel price rises 68% to N1,415.06/ltr
The cost of diesel fuel in Nigeria has jumped dramatically, with a year-on-year increase of 68% to N1,415.06 per litre…
Microsoft’s AI Deal with UAE Raises Security Concerns, Lawmakers Seek More Oversight
Microsoft’s deal with G42, a UAE-backed AI company, is raising eyebrows over potential national security risks. The agreement might involve…
Stocks catch a ride higher with Nvidia; investors cautious over rates
Global stock markets saw a modest rise on Thursday, fueled by a strong performance from tech giant Nvidia. However, investor…
Japan’s Factory Activity Shows Signs of Life After Months of Slump
Positive news for Japan’s economy as factory activity finally expanded for the first time in a year. The au Jibun…
Quadrant MSL COO Retires
Quadrant MSL, a strategic communications firm, is saying goodbye to their COO and Head of Business, Oluwarantimi Olaniyan. After nearly…
ACMPN to Induct new members at the 2024 Mental Health Awareness Week
The Association for Counsellors Matchmaking & Psychotherapy of Nigeria (ACMPN) is holding a special event from May 20th to 25th,…
Minimum wage: FG, Labour talks deadlocked, NLC defends N615,000 demand
There are several important stories making the news in Nigeria today. The biggest one is that talks between the government…
CBN Raises Interest Rate to 26.25%
The Central Bank of Nigeria (CBN) just announced a rise in interest rates to 26.25%. This means it will be…
Big Meeting Planned Between Korea and Africa!
There’s a big meeting planned between Korea and Africa in early June! This summit is a chance for these two…
Ministry of Marine and Blue Economy set to Harness the Atlantic Ocean
Nigeria has a long coastline on the Atlantic Ocean, packed with resources and potential. To take full advantage of this,…
Stanbic IBTC Holdings Plans to Raise N550 Billion in New Capital
Shareholders of Stanbic IBTC Holdings Plc have approved a plan to raise N550 billion in new capital. The company will…
CBN Faces Tough Choices On Interest Rate, Inflation, Others
The Central Bank of Nigeria (CBN) is at a crossroads, deciding whether to continue raising the benchmark interest rate or…