Rising Imports and Trade Deficit Slow U.S. Economic Growth in Q4
The U.S. economy likely grew at a slower pace in the fourth quarter of 2024, with GDP estimated to have risen at…
Nigerian Banks Lead Investment Drive Towards $1 Trillion Economy Goal
President Bola Tinubu has reaffirmed his administration’s commitment to achieving a $1 trillion economy by 2026,…
Microsoft shares slide as cloud forecast, AI spending disappoint
Microsoft's stock fell 4.5% in after-hours trading after the company forecasted lower-than-expected growth for its…
Microsoft shares slide on cloud outlook; Meta up after Q4 beat
Microsoft's shares dropped by 4.5% in Europe, following a weak forecast for its cloud business. This decline…
CBN nears completion of $2.4bn FX backlog verification, payments to begin soon
The Central Bank of Nigeria (CBN) is finalizing the verification process for the remaining $2.4 billion foreign…
Cashless economy deepens as electronic transactions hit N1.08qd
Nigeria’s electronic transactions surged by 79% in 2024, reaching a record N1.08 quadrillion, according to data…
Equity market reverses loss, investors gain N364bn
The Nigerian Stock Exchange saw a reversal in market losses on Tuesday, with investors gaining N364bn as the…
NECA Applauds CBN’s FX Code, Calls for Effective Implementation
The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) for…
Four FCMB customers win N1m each
First City Monument Bank (FCMB) has rewarded four customers with N1 million each in the first draw of its…
Outstanding $7bn FX cleared, says Cardoso
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced that the government has successfully…
FG Partners with Portsmouth University to Boost Oil & Gas Capacity in Nigeria
The Nigerian government has signed a Memorandum of Understanding (MoU) with the University of Portsmouth (UoP) to…
Three Key Strategies for Improving Nigeria’s Business Environment in 2025
As Nigeria seeks to attract more investments and improve its business environment in 2025, achieving monetary and…
Gartner Predicts AI Will Drive 15% of Daily Work Decisions by 2028, Transforming…
Gartner has projected that by 2028, AI systems will autonomously make 15% of daily work decisions, with…
CBN Waives N250,000 BDCs’ Annual Licence Renewal Fee for 2025
In a bid to streamline operations and foster stability in Nigeria's foreign exchange market, the Central Bank of…
Telcos urge PRC to review annual due payment
Telecom operators in Nigeria have raised concerns over the revised annual payment structure under the Financial…
OpenAI says it will work with U.S government to protect technology
OpenAI has expressed concerns about Chinese companies attempting to tap into U.S. artificial intelligence…
Microsoft probes if DeepSeek-linked group improperly obtained OpenAI data,…
Microsoft and OpenAI are investigating whether a group connected to the Chinese AI startup DeepSeek improperly…
Italian startup Exein to supply cybersecurity for chips to MediaTek
Italian tech startup Exein has signed a deal with Taiwan’s MediaTek to provide cybersecurity systems for chips…
Telecoms 50% tariff hike: Subscribers head for court as NCC talks deadlocked
Nigerian telecom subscribers, led by the National Association of Telecommunications Subscribers (NATCOMS), are…
MRS, others drag equity market to N284bn loss
The Nigerian Exchange (NGX) closed Tuesday’s trading session in negative territory, with the All-Share Index…
Heavy sanctions for FX code breaches, CBN warns banks
The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has warned financial institutions that violations of…
FG invests N150bn in real estate fund
The Federal Government of Nigeria, through the Ministry of Finance Incorporated (MOFI), has fully subscribed to…
Nigeria secures $1.1bn AfDB fund to power 5m people by 2026 – Tinubu
Nigeria’s President Bola Tinubu has secured a $1.1 billion fund from the African Development Bank (AfDB) aimed at…
MTNN CEO confident regulator’s service quality deadline possible
MTN Nigeria’s CEO, Karl Toriola, has expressed confidence that the company will meet the Nigerian Communications…
Nigeria mulls fresh energy subsidy in $15bn investor pitch – Bloomberg
Nigeria is making a fresh push to attract investors into its struggling power sector by proposing higher tariffs…
Senate threatens to arrest HYPREP coordinator over $360m Ogoni cleanup
The Nigerian Senate’s Public Accounts Committee has warned Professor Nenibarini Zabbey, Coordinator of the…
CBN releases Nigeria FX code to mitigate financial risks
The Central Bank of Nigeria (CBN) has introduced the Nigeria Foreign Exchange (FX) Code to reduce financial risks…
Price of cooking gas drops 13.3% to N16,250 — Investigation
The price of cooking gas (Liquefied Petroleum Gas, LPG) in Nigeria decreased by 13.3% in January 2025, with the…
Marketers fear epileptic fuel supply over unstable PMS prices
Petroleum product marketers are concerned that the instability in petrol prices may result in inconsistent fuel…
DeepSeek claims its ‘reasoning’ model beats OpenAI’s o1 on certain benchmarks
Chinese AI lab DeepSeek has launched an open-source version of its reasoning model, DeepSeek-R1, which is now…