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Ondo gov unveils AI system for civil service management,

Policy and Regulations

States’ IGR hit ₦5.15trn in 2025, Lagos leads

featured Finance

Oyedele calls for cheaper, long-term financing for Africa’s development

Finance

Tinubu stabilising economy, Nigeria in safe hands — Okpebholo

Economy featured

Blog

Director-General, PenCom, Aisha Dahir-Umar
Business

Contributory asset rose above N1tn in one year- PenCom

The Contributory Pension Scheme’s asset rose from N13.76tn as of the the end of February 2022 to N15.45tn February 2023 which account for a N1.68tn increase in one year. PenCom made this disclosure in its unaudited report on the pension funds industry portfolio,  accessed by The Punch. This report covers the period up until February […]

Foxconn
Business featured

Apple’s supplier Foxconn to invest $820m in EVs

One of the largest electronics manufacturers in the world, Foxconn, announced on Sunday that it intends to invest T$25 billion ($820 million) in southern Taiwan over the next three years. The company also known as Hon Hai Precision Industry Co Ltd, plans to establish new manufacturing facilities that will support its electric vehicle endeavors. The […]

Business

Businessman sues Akwa Ibom govt over N10m debt 

A businessman named Ubokubom Nyah from Akwa Ibom State has taken legal action against the state government for not paying him the consultancy fees owed to him for a project he executed. The lawsuit, filed under suit number HT/2/2023, also includes the state Attorney General and Commissioner for Justice, as well as Landsea Construction and […]

Business

Binance struggles in search for banks to handle customers’ cash  

The United States arm of Binance is facing challenges in finding a bank to handle its customers’ cash after the failure of its previous crypto-friendly banks, Signature Bank and Silvergate Capital Corp. This according to a report by the the Wall Street Journal on Saturday, citing people that are conversant with the matter. The exchange […]

Elon Musk discloses plans for self-driving cars
Business featured

Elon Musk’s Tesla sued for privacy violation

A Tesla owner from California has filed a class action lawsuit against the electric carmaker for infringing on customers’ privacy.  As reported by Reuters on Thursday, Tesla employees had been privately sharing “highly invasive videos and images” taken by the car cameras between 2019 and 2022. The lawsuit was filed by a San Francisco resident, […]

Buhari unveils SDG financing framework
Opinion

Experts knock Buhari over $800m loan facility

Financial experts have criticized the President, Major General Muhammadu Buhari (retd.), over his decision to obtain a World Bank facility worth $800 million on the eve of his departure from office.   The facility is expected to be disbursed to about 50 million vulnerable Nigerians as palliatives to cushion the impact of the expected removal […]

CBN extends old naira's validity indefinitely
News

How naira declined by 10% in 2022 – World Bank

The naira saw a record devaluation of 10.2% in 2022, according to data from the World Bank. The Punch reported that the World Bank recognized these factors as primary causes of inflationary pressures in the Sub-Saharan area, along with rising food and fuel prices globally and the depreciation of the exchange rate. The loan-granting financial […]

United States Flag attached to a building
Business

US employment rate drops to 3.5%

The United States economy continued to add jobs quickly leading to a decrease in the unemployment rate to 3.5 percent in March 3.6 percent. According to Reuters, this suggests a tight labor market that could lead to the Federal Reserve increasing interest rates again in May. The Labor Department’s closely watched employment report on Friday […]

Jaiz Bank demands listing of N5.4bn shares on NGX
Banking

Jaiz Bank records 69% annual profit, N33bn revenue

Jaiz Bank reported a 68.5 percent increase in net profit for 2022 as revenue surpasses N33 billion in its audited financial report on Friday. According to Premium Times, an increase in its main income streams significantly aided the operation of the non-interest bank with headquarters in Abuja. The bank reported an increase in revenue of […]

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