Blog

featured

Nigeria receives $2.3bn Siemens power project transformers

Electricity transformers and substations meant for the $2.3bn Siemens power project have arrived in the country as the project gains traction, Minister of Power, Adebayo Adelabu, said on Sunday. This development follows a few months after the Federal Government renewed its mega power plant contract with Germany and Siemens, following several months of delays. The […]

News

High graduate unemployment rate worries ECOWAS

The president of the ECOWAS Bank for Investment and Development, George Agyekum Nana Donkor has lamented that millions of graduates from universities in Nigeria and other West African countries, have no jobs. This disclosure was made by the bank in its social media X page on Saturday, highlighting the concern during the ECOWAS Investment Forum […]

News

Foreign firms, others to attend Gateway trade fair

Foreign companies from across West Africa have indicated interest in participating at this year’s Gateway International Trade Fair billed to take place between April 19 and April 29. Similarly, stakeholders in the food, beverages, health, agriculture, and other manufacturing sectors, banks, as well firms in small and medium scales businesses have also shown interest in […]

featured

Bankers worry over 12,000 job losses

The Nigeria Labour Congress, NLC, and the Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, have raised concerns over job security among others in the new banks’ recapitalization ordered by the Central Bank of Nigeria. This follows reports of the loss of 12, 000 jobs in 2005 and 2010 as a result […]

Mark Zuckerberg beats Elon Musk in billionaire rankings
News

Mark Zuckerberg beats Elon Musk in billionaire rankings

Meta CEO, Mark Zuckerberg has surpassed Tech billionaire Elon Musk in wealth, claiming the third spot on the global billionaire rankings. This marks the first time since 2020 that these rival billionaires have held these positions. Musk, who recently topped the Bloomberg Billionaires Index, slipped to fourth place after reports of Tesla Inc. canceling plans […]

News

Landmark Beach Resort negotiates Lagos-Calabar highway route adjustment

Landmark Beach Resort’s management has initiated negotiations with federal and state governments and interest groups to adjust the initial 1.5 km segment of the Lagos-Calabar Coastal Highway, proposing to redirect it along the undeveloped median of Water Corporation Road to avoid disrupting the resort’s business. This was disclosed by the CEO of Landmark Africa Group, […]

News

Unilever Nigeria Plc declares N4.309bn dividend

Shareholders of Unilever Nigeria Plc will receive a dividend of N4.309 billion for the financial year ending December 2023, indicating a total dividend of N0.75 kobo per share declared by the Board of Directors of the company. This was disclosed in the company’s corporate action notice to the Nigerian Exchange Limited. The Board of Directors […]

Banking

GTB customers lament bank app, USSD failure

Network failure is causing customers of Guaranty Trust Bank in Nigeria to face difficulties, and transactions can no longer be made through the bank’s app, USSD, or point-of-sale terminal. It is observed there remains a network problem that began on Wednesday, April 4, 2024 and has not yet been resolved at the time of filing […]

featured

Abuja light rail project 97% complete – Wike

The Minister for the Federal Capital Territory, Mr. Nyesom Wike, has announced that the Abuja Rail Mass Transit project is on the verge of completion, with 97% of the work already done. This disclosure was made by Wike during his tour from the Central Area’s Metro Station to the Nnamdi Azikiwe International Airport in Abuja […]

Nigeria remains World Bank's third-largest debtor with $18.2bn IDA loans
News

Naira appreciates to N1245/$ in parallel market

The Naira on Friday appreciated to N1,245 per dollar in the parallel market, from N1,250 per dollar on Thursday. The naira also appreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,251.05 per dollar. NAFEM’s implied exchange rate on Thursday was N1,251.05 per dollar as against N1,255.07 at the beginning of the week indicating an […]