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Okada fares hit 258% in four years - NBS
Business

Okada fares hit 258% in four years – NBS

The average okada (motorcycle) fare increased by 258.2% between May 2019 and May 2023. This information was from the National Bureau of Statistics’ Transport Fare Watch which states that between May 2019 and May 2023, the average fare for okada rides increased from N129.69 to N464.55. The average fare paid on Okada transport in May 2023 was […]

Sterling Bank CEO acquires 50m additional shares
Banking

Sterling Bank CEO acquires 50m additional shares

The chief executive officer of Sterling Bank, Abubakar Suleiman, has bought N168 million for 50 million shares of Sterling Financial Holdings Company Plc. The Punch reported that this information was provided in a corporate notice on directors’ transactions that was submitted on Friday to the Nigerian Exchange Limited. Suleiman, a non-executive director of the HoldCo, purchased […]

Manufacturers warn price hikes to persist without solutions
Business

MAN trains exporters on maximizing AfCFTA

  The Manufacturers Association of Nigeria, through its Export Promotion Group, has taught Nigerian exporters on how to capitalize on opportunities in the African Continental Free Trade Area. According to The Punch, it developed the capacity during a two-day workshop with the theme “Exporting under the AfCFTA” that was held in Lagos in cooperation with […]

NCAA discovers illegal fuel suppliers at airports
featured

NCAA discovers illegal fuel suppliers at airports

The Nigerian Civil Aviation Authority has found several unlicensed JET A1 marketers operating out of Nigerian airports and selling the product to unwary airlines. According to The Punch, while looking into the cause of the jet fuel pollution, of which Max Air was a victim, it uncovered this revelation. The infiltration of unregistered marketers was […]

News

W’Bank, UN support renewable energy investments in Nigeria

The Chief Executive Officer and Special Representative of the United Nations Secretary-General for Sustainable Energy for All, Damilola Ogunbiyi, and the recently appointed President of the World Bank, Ajay Banga, have expressed their support for private sector investments in renewable energy.   According to The PUNCH, they disclosed this in a statement on Friday during […]

Spotify launches ‘Upcoming Releases’ hub to track new albums
News Tech

Spotify to launch tool for software development teams

Spotify is launching “Confidence,” a new commercial tool for software development teams based on its in-house experimentation platform. “Spotify’s data scientists and engineers have been developing and honing our product testing methods for years,” Spotify said in a statement. Teams can easily set up, conduct, coordinate, and analyse their own user tests with the help […]

News

PHOTOS: Shettima receives briefings from BPE, NDPHC

Vice President Kashim Shettima on Friday received briefings on the operations of two agencies under his supervision, the Niger Delta Power Holding Company and the Bureau of Public Enterprises.   According to a release signed and issued by the Director Information, Office of the Vice President, Olusola Abiola, the chief executives and management staff of […]

Electric car maker Nikola gets new CEO
News Tech

Electric car maker Nikola gets new CEO

Nikola Corp, a manufacturer of electric trucks, announced on Friday that president and CEO Michael Lohscheller will step down due to a family health concern. According to a statement from the corporation, Lohscheller has decided to resign due to a family health issue and will be returning to Europe. Board Chairman Steve Girsky, a former […]

Nigerian Exchange ahead in Africa with 33.70% gain
Economy

Naira drops to N890/$1 in black market as FX crisis worsens

The parallel market sector of the foreign exchange market is currently not favourable for the Nigerian Naira as it has dropped to N890 per dollar. This is due to the fact that its value is rapidly declining on the open market against the US dollar as the country struggles with a foreign exchange liquidity crisis […]

Google's Alphabet cuts 90% stake in trading app Robinhood
Tech

Google’s Alphabet cuts 90% stake in trading app Robinhood

The parent company of Google, Alphabet has made a pivot, slashing its stake in Robinhood Markets by nearly 90%. This move comes on the heels of Robinhood’s recent announcement of its maiden profit as a public entity. Robinhood, once the shining star of fintech during the pandemic, captured the attention of retail traders with its […]

Transcorp director Helen Iwuchukwu steps down
Business

Transcorp director Helen Iwuchukwu steps down

Transcorp Hotels Plc’s Board of Directors has announced Helen Iwuchukwu’s resignation as Non-Executive Director. According to Nairametrics, this information was provided in a corporate action that was submitted to the Nigerian Exchange and retrieved by Nairametrics. An excerpt from the formal announcement, which was signed by the acting group company secretary, Funmi Olofintuyi, is provided below: The Board […]

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