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NUPRC explores crude swap deals to cut costs

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How to access FG’s ₦5m grant for young entrepreneurs

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Ghana police foil bank robbery plot, arrest Nigerian suspect

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Five towers collapse after transmission line sabotage in A’Ibom

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Tinubu orders NNPC to sell Crude to Dangote in Naira
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Tinubu signs executive order to boost investment in energy sector

Melvin Onwubuke President Bola Tinubu has signed new Executive Orders aimed at boosting the investment environment and ensuring that Nigeria is Africa’s top choice for oil and gas investments. This was disclosed by the spokesperson for the president of media and publicity, Ajuri Ngelale, in a statement on Wednesday, according to nairametrics. According to Ngelale, […]

Elon Musk to remove displays of likes, reposts on X
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Elon Musk to remove displays of likes, reposts on X

Elon Musk mentioned that his social media platform, X, is contemplating eliminating the display of likes and repost counts on each post. The tech billionaire made this statement during the Morgan Stanley technology, media, and telecom conference. Additionally, Musk shared that X is a few months away from obtaining approval for a money transmitter license […]

Accenture acquires edtech platform Udacity
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Accenture acquires edtech platform Udacity

Accenture has announced its acquisition of the learning platform Udacity, signaling a move to develop a learning platform with a specific focus on the growing interest in artificial intelligence. The financial terms of the Udacity acquisition were not disclosed, but Accenture also shared plans for a $1 billion investment in the creation of a technology […]

Naira strengthens slightly to N1,534.52/$ at official market
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CBN sells another N1.3 trillion in treasury bills at 21.5%

Melvin Onwubuke The Central Bank of Nigeria (CBN) has completed another round of Treasury Bills (T-Bills) auction, offloading about N1.3 trillion. The auctions, which took place on 6 March 2024, saw the bills in three tenors being sold, according to nairametrics. According to the Summary of Auction Result, the highest interest, or stop rate, was […]

Bill for tax crimes commission passes second reading
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Bill for tax crimes commission passes second reading

National Tax Crimes and Oversight Commission bill was successfully passed by the House of Representatives on its second reading on Wednesday. Following a plenary session in which the chief sponsor of the measure, Rep. Benjamin Kalu, stated its key goals, the bill was passed by the house according to The Times. Kalu promoted the initiative […]

Elon Musk announces upcoming release of AI chatbot Grok 3
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OpenAI seeks to dismiss Elon Musk’s suit

OpenAI on Tuesday, countered Elon Musk’s assertions that the company had deviated from its original mission of developing artificial intelligence for the benefit of humanity and not for profit. In a blog post, OpenAI affirmed its commitment to its mission and addressed Musk’s claims, indicating its intent to dispute them. According to OpenAI, Musk proposed […]

Keyamo, others in France to secure investment
News

Keyamo, others in France to secure investment

The Minister of Aviation and Aerospace Development, Festus Keyamo , is leading a distinguished Nigerian delegation on a four-day Nigeria-France Bilateral Business Forum in France. The primary objective is to strengthen cooperation and attract private sector investment from France to enhance Nigeria’s aviation infrastructure. During the forum, Minister Keyamo and the Nigerian delegation presented a […]

Nigerian startup, MDaaS raises $3m in pre-Series A funding
Business

Nigerian startup, MDaaS raises $3m in pre-Series A funding

By Melvin Onwubuke   Health tech startup, MDaaS Global, has raised $3 million in pre-Series A funding targeted at expanding its offerings. The startup is operating a network of technology enabled diagnostics centers across Nigeria. According to the company’s statement, the investment will be used for the launch of BeaconOS, the proprietary technology platform it […]

Egypt floats pound, loses over third of value
Banking

Egypt floats pound, loses over third of value

Egypt’s central bank announced Wednesday it was floating the pound in a move to unlock emergency loans from the IMF that saw the currency lose more than a third of its value. The bank also hiked its key deposit rate to a record 27.25 per cent as it moved to rein in inflation in the […]

Oil and Gas

Halt Shell’s $2.4bn asset sale, Int orgs urge FG

International organizations such as the Centre for Research on Multinational Corporations, Stakeholders Democracy Network and others have urged the Federal Government to halt Shell Petroleum Development Company’s divestment plan until the Niger Delta region’s cleanup and decommissioning issues are resolved. Arise News reported that Shell intends to divest, leaving extensive historical oil contamination throughout the […]

Analysts fear new interest rate may increase non-performing loans
Business

Analysts fear new interest rate may increase non-performing loans

By Melvin Onwubuke   There are concerns by some financial experts, regarding the aggressive monetary policy stance adopted by the Central Bank of Nigeria, which recently led to another increase in the interest rate by 22.75%. These experts pointed out the potential domino effects of the heightened MPR on existing bank loans, according to nairametrics. […]

IMF backs CBN on interest rate hike
Business

IMF backs CBN on interest rate hike

By Melvin Onwubuke The International Monetary Fund has supported the decision of the Monetary Policy Committee of the Central Bank of Nigeria to increase the benchmark borrowing rates by 400 basis points to 22.75 per cent from 18.75 per cent. At its February meeting, the MPC said that inflation and exchange rate pressures have been […]

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