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Firms expect borrowing costs to ease in coming

  • 7th August 2026

FG unveils Tinubu Light Initiative for one million

  • 6th August 2026

NMDPRA proposes ban on fuel price fixing

  • 6th August 2026

Tinubu gets ICPC report on alleged fake agency

  • 6th August 2026

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Naira holds steady at ₦1,368/$ in official FX market

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Firms expect borrowing costs to ease in coming months

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Alibaba announces exit of ex-CEO
News

Alibaba announces exit of CEO

      Chinese e-commerce giant Alibaba has announced the surprise departure of former CEO Daniel Zhang. Hangzhou-based Alibaba is a leading Chinese technology company, with operations in cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence. After years of turmoil in the Chinese IT sector, Alibaba announced in March the largest restructuring in […]

Flutterwave, has laid off half of its workforce in Kenya and South Africa as part of a broader cost-cutting strategy
News Tech

Flutterwave launches digital platform to aid FX access

Flutterwave has launched Swap, a new product that would digitise the process of obtaining foreign currency for Nigerians with the support of the CBN. To offer liquidity and foreign exchange for the product, the fintech is making use of a collaboration with Wema Bank, a commercial bank, and Kadavra BDC, a bureau de change. “no […]

Equity investors lose N1.5tn as bond yield rises
Banking

Why CBN should dump exchange rates unification – Lemo

The Central Bank of Nigeria should dump the merger of parallel and official exchange rates, according to a former Deputy Governor of the CBN, Dr. Tunde Lemo. According to The Punch, he claimed that the naira is not an internationally convertible currency and that the central bank need not be concerned about a shortfall of up to N50. This […]

Business

Heirs Insurance reports 226% increase in gross premiums

The Heirs Insurance Group, which consists of Heirs General Insurance and Heirs Life Assurance, reports a 226 percent increase in gross written premium from N6.1 billion in 2021 to N19.9 billion for the fiscal year that concluded on December 31, 2022. The Punch reported that Heirs Insurance, according to a release, proved Tony Elumelu’s Heirs […]

Only four Nigeria states attract foreign investment in Q4 - Report
Business

Insurance industry grows 8.29% – NBS

The National Bureau of Statistics most recent data show that the insurance industry is back on a growth trajectory after increasing by 8.29% in the second quarter of 2023. According to The Punch, data on economic performance show that the industry had previously seen a setback of 7.25 percent shrinkage in the first quarter of the year […]

Top executives from American and Vietnamese companies in the semiconductor, technology, and aviation sectors gathered on Monday, as part of U.S. President Joe Biden's visit to Hanoi, Vietnam.
News Tech

Biden meets top tech executives in Vietnam

Top executives from American and Vietnamese companies in the semiconductor, technology, and aviation sectors gathered on Monday, as part of U.S. President Joe Biden’s visit to Hanoi, Vietnam. According to the meeting agenda, senior executives from Google, Intel, Amkor, Marvell, GlobalFoundries, and Boeing attended the Vietnam-U.S. Innovation & Investment Summit. Executives from half a dozen […]

Banks’ bad loans hit N478bn in Q1 2023
Banking

Banks’ bad loans hit N478bn in Q1 2023

    During the first half of 2023, four prominent banks, including Guaranty Trust Bank Holding Plc , FBN Holdings Plc, FCMB Group Plc, and Fidelity Bank Plc, collectively reported non-performing loans valued at N478.93 billion. According to The PUNCH, this marked a notable increase of almost 16 percent from the N413.36 billion reported at […]

FG secures $163m AfDB loan for wheat production
featured

FG secures $163m AfDB loan for wheat production

    The Nigerian government has secured a loan of $163m from the African Development Bank to boost wheat production. According to Channels, this was disclosed by the Vice president, Senator Kashim Shettima, stated this in Argungu, Kebbi State where he paid a condolence visit to the Argungu Emirate, state government, and the family of […]

G20 leaders discuss AI for economic development
News Tech

G20 leaders discuss AI for economic development

The Group of 20 leaders discussed on how to use artificial intelligence to advance economic development while preserving human rights, with some advocating for global regulation of the quickly developing field. Narendra Modi, the Indian prime minister who is hosting the G-20, urged that the group establish a framework for “human-centric” AI governance, and Ursula […]

Itsekiri natives protest, demand PIA entitlement
News

Itsekiri natives protest, demand PIA entitlement

Some Itsekiri natives in Delta State’s Warri South Local Government Area have complained to the Delta State Oil Producing Areas Development Commission about the application of the Petroleum Industry Act. The Punch reported that during this time, the Itsekiri nation’s financial entitlement from the DESOPADEC management from the time of the state’s former governor James […]

Unity Bank's gross earnings hit N27.5bn in H1'2023
Banking

Unity Bank’s gross earnings hit N27.5bn in H1’2023

In its Half-Year unaudited financial statement submitted to the Nigeria Exchange Group Limited, retail lender Unity Bank Plc reported a growth in deposits to N333.38 billion, or 2% more than the N327.42 billion recorded in H1’22. The Times reported that the lender’s dedication to expanding its retail presence through a well-diversified banking product suite that serves […]

Local refining won't reduce petrol to N200/litre - MOMAN
News

Local refining won’t reduce petrol to N200/litre – MOMAN

    The Major Oil Marketers Association of Nigeria has stated that even if refineries are refurbished, the price of fuel cannot fall below N200 per litre. The association made the statement in response to a recent report in which the Independent Petroleum Marketers Association of Nigeria predicted that if the refineries reopened, petrol prices […]

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