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SpaceX completes acquisition of AI coding startup Cursor

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Global goods trade rises 12.5% to $13.7tn in H1

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Nigeria's external reserves rise to $36.89bn — CBN gov
News

BDC operators debunk Dollar selling at N1,000/$1

Contrary to circulating reports on X (formerly Twitter), Bureau De Change operators have refuted claims that the dollar is now being sold at N1,000 in the parallel market. There have been widespread reports on X indicating that the dollar is trading at N1,000 in Abuja. A post on X stated, “This morning, at Zone 4 […]

S’Africa richest man Patrice Motsepe joins Canal+ bid for MultiChoice
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S’Africa richest man Patrice Motsepe joins Canal+ bid for MultiChoice

South Africa’s wealthiest black individual, and the president of the Confederation of African Football, Patrice Motsepe, is reportedly in discussions to join Canal+’s bid for MultiChoice, as reported by Bloomberg. The discussions are said to be in the early stages, and there is no assurance of reaching an agreement. Motsepe, with a net worth of […]

Access Holdco’s Hydrogen reports N161mn profit in 2023
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Access Holdco’s Hydrogen reports N161mn profit in 2023

The fintech subsidiary of Access Corporation, the parent company of Nigeria’s largest bank by assets, Hydrogen, reported profits of ₦161 million at the close of 2023. This marks the first time Hydrogen has recorded profits since its establishment in 2022, as indicated by Access Corporation’s full-year financial report. The payments company, which has been operational […]

Electricity

Power tussle: Sanda remains Eko DisCo boss, legal director declares

The power struggle at Eko Electricity Distribution Company appeared to be intensifying as the Legal Director, Babor Egeregor, claimed that Dr. Tinuade Sanda was still Managing Director and Chief Executive Officer of the company. This was disclosed in a statement issued by the Chairman Legal and Regulatory committee of the board and legal adviser, Babor […]

Banking

Access Corporation post N612.4bn profits for 2023

Access Corporation, Nigeria’s largest finance holding company has reported a profit of N612 billion after tax, with a 300% increase when compared with that of the preceding year. This is the highest profit ever posted by the company, presided over by the late Herbert Wigwe. In the financial statements, Access Corporation reported  Gross Earnings of  […]

News

Fidelity bank empowers entrepreneurs with export mgt program

Fidelity Bank Plc, has stepped up its export business support initiatives with the fifteenth edition of its Export Management Program. The Bank had set up a training programme for entrepreneurs on opportunities in the international market and developing their capacity to make an impact as exporters, through a partnership with Lagos Business School. A training […]

Game retailer Gamestop lays off workers to cut cost
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Game retailer Gamestop lays off workers to cut cost

The video game retailer, GameStop, announced on Tuesday that it has implemented workforce reductions as part of its cost-cutting measures, amidst facing lower fourth-quarter revenue. The decline in revenue is attributed to increased competition from e-commerce giants and subdued consumer spending in an uncertain economic climate. Shares of the Grapevine, Texas-based company plunged by 16% […]

News

US charges KuCoin crypto exchange with laundering

Federal prosecutors in Manhattan on Tuesday, brought charges against KuCoin, a leading global cryptocurrency exchange, alleging violations of U.S. anti-money laundering laws. Since its establishment in 2017, KuCoin purportedly failed to adequately screen customers, facilitating the transfer of billions of dollars in illicit funds. According to prosecutors, the Seychelles-based exchange actively sought business from U.S. […]

NACC reaffirms commitment to promoting SMEs growth
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NACC reaffirms commitment to promoting SMEs growth

Onwubuke Melvin The President of the Nigerian American Chamber of Commerce, Mrs Adebola Williams, has affirmed the chamber’s commitment to promoting the growth of Small and Medium Enterprises, to ensure their sustainability and compliance with international standards. This disclosure was made during her press briefing on Monday for the forthcoming 2024 edition of the Africa […]

NACCIMA raises concern over CBN's interest rate hike
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NACCIMA raises concern over CBN’s interest rate hike

Onwubuke Melvin   The National President, of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Dele Oye, said the group was deeply concerned with how the apex bank had continued to raise interest rates. This follows the hike in Nigeria’s Monetary Policy Rate, also known as the interest rate, from 22.75 per […]

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