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Aliko Mohammed becomes Nestle Nigeria's non-executive director
Appointments

Aliko Mohammed becomes Nestle Nigeria’s non-executive director

Nestle Nigeria Plc has announced the appointment of Mrs. Maryam Aliko Mohammed as an independent non-executive director. According to Nairametrics, this information was provided in a formal statement that was signed by the company secretary, Bode Ayeku. Part of the official statement read: “Nestlé Nigeria Plc wishes to notify its shareholders, The Nigerian Exchange Limited, and the […]

Worldcoin reacts to Kenyan ban
News Tech

German privacy regulator probes Worldcoin

German privacy watchdog has been looking into OpenAI CEO Sam Altman’s Worldcoin project due to concerns over its extensive processing of private biometric data since late last year. As part of efforts to establish a new “identity and financial network,” Worldcoin, which started last week, asks users to submit iris scans in exchange for a […]

Opay president Olu Akanmu steps down after two years
News Tech

Opay president Olu Akanmu steps down after two years

Olu Akanmu has stepped down as the president and co-CEO of OPay Nigeria, according to a statement he posted on his Twitter profile on Monday. “My gratitude to all my colleagues at Opay for the good work we did together in deepening financial inclusion in Nigeria, ensuring that less and less number of our people […]

TradeFada CEO Seun Dania invests in African crypto firm Patricia
Crypto

TradeFada CEO Seun Dania invests in African crypto firm Patricia

In a LinkedIn post, the founder and CEO of TradeFada, Seun Dania, announced a significant investment in a prominent crypto company in Africa, Patricia. With Patricia being recognized as one of the top exchanges on the continent, this move by Dania is truly momentous. While the specific details of the investment remain undisclosed, the post […]

Meta's Threads app introduces live sports scores feature
Tech

Threads to launch desktop version

Meta Platforms, the parent company of Facebook, is determined to give its newest social media platform, Threads, a fighting chance in the competitive market. The move comes after CEO Mark Zuckerberg revealed that the app faced a significant decline, losing over 50% of its users since its launch. Threads initially made waves, becoming the fastest-growing […]

Manufacturers warn price hikes to persist without solutions
Business

Manufacturers spent N119bn on electricity in nine years – MAN

Manufacturers’ Association of Nigeria has reported that manufacturers spending on alternative energy sources increased by 82% between 2014 and 2022,  from N25 billion to N144 billion excluding power from distribution companies. According to The Punch, this is based on information compiled from the Manufacturers Association of Nigeria’s annual and biannual reports. The documents state that manufacturers spent […]

How equity investors his N8bn profit one week
Business

How equity investors his N8bn profit one week

The Nigerian Exchange Limited’s recent trend of optimistic trading slowed this past week, resulting in a gain of N8 billion for investors. According to The Punch, trading operations on the NGX got off to a good start, rising to N35.539tn on Monday, with market capitalization finishing at N35.994tn the previous Friday. It increased to N35.932tn […]

Transcorp power enlisted on Nigerian Exchange main board
Business

Transcorp’s revenue hits 31% increase, jumps to N82bn

Transnational Corporation Plc, an indigenous conglomerate, has revealed that it experienced remarkable development across all key indices and that its revenue for the first half of 2023 increased by 31%. In a report on its condensed consolidated financial statements, it said: Transcorp, which has investments in the oil, hospitality, and power industries, reported revenue of […]

Global petrol price increases by 20%
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Global petrol price increases by 20%

The price of petrol may climb further as international market statistics revealed that the commodity had gained 20%. According to The Punch. Brent crude had a starting price of about $78 per barrel in 2023. However, the global benchmark reached $83 a barrel last week. On the other hand, petrol costs were less than $2.50 […]

Nigerians hold N2.26trn outside banks - CBN
News

Nigerians hold N2.26trn outside banks – CBN

  The Central Bank of Nigeria has stated that the value of currency held by the public climbed to N2.26tn by the end of June 2023. According to CBN data obtained by The PUNCH, the currency outside banks increased by 185.68% (N1.47tn) between January 2023 (N792.18bn) and June 2023 (N2.26tn). It was also revealed that […]

Tinubu assigns special investigator to probe CBN
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Tinubu assigns special investigator to probe CBN

The Financial Reporting Council of Nigeria’s Chief Executive Officer, Jim Obazee, has been appointed by President Bola Tinubu as a special investigator to look into the Central Bank of Nigeria and associated organizations. According to reports, this information was contained in a letter signed by President Tinubu. The letter from Tinubu reads,” This administration is today continuing the fight […]

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