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Analyst predicts 2023 challenges for Netflix

  Industry analyst have predicted that streaming platform, Netflix’s investors will have plenty to worry for in 2023 despite it’s 65 percent stock increase since July. According to Wall Street analyst, Needham’s Laura Martin, the stock will battle several headwinds in the new year including slowing subscriber growth and increased pressure on its key financial […]

Buhari
Banking featured

Buhari names BOI’s executive directors

The President, Major General Muhammadu Buhari (ret.) has given his approval for Mallam Shekarau Omar to serve a second term as Executive Director Small and Medium Enterprises. Omar will now hold office for an additional four years, after his first tenure was set to expire on March 5, 2023. The senior media assistant to the […]

News

Stanbic IBTC adopts Gombe community school

Standard Bank group, Stanbic IBTC Holdings, has explained reasons for adopting Kurba Community Primary School in Yamaltu Deba Local Government Area of Gombe State.   The Chief Executive of the bank, Dr. Demola Sogunle, said the rationale behind the gesture was to improve the quality of education in public schools within the country, with its […]

Startups

Honeywell begins enrollment for talent development program

Honeywell Group has called on members of the public, entrepreneurs and tech enthusiasts to take part in its fifth talent development program slated for early next year to help salvage the economy.   The talent development is a partnership with the Lagos State Employment Trust Fund, on the ‘Lagos Innovates Programme’ which has benefited over […]

Economy

Why Nigeria’s foreign reserves lost $2.2bn – CBN

The Central Bank of Nigeria has explained reasons why Nigeria’s foreign reserves lost $2.22 billion in a sustained demand pressure in the foreign exchange market.   In its Financial Stability Report, CBN showed that the reserves fell to $36.96 billion in the second week of December, from August closing figure of $39.18 billion.   According […]

Business

Nigeria’s biovaccine company to begin production before Q2 2023

Biovaccines Nigeria Limited, a joint venture between the Federal Government of Nigeria and May & Baker Nigeria Plc, is set to commence the production of vaccines before the second quarter of 2023.   Nairametrics reported that the Managing Director of May & Baker Nigeria Plc, Patrick Ajah, disclosed this on Wednesday in Lagos, while noting […]

News

Yuletide: MTN, Airtel, others to earn big on increased call, data

  Telecommunications operators in Nigeria are expected to earn more revenue as a result of a projected rise in calls and data usage this festive period. According to Nairametrics, the financial records of MTN and Airtel, two of the country’s largest telcos, higher customer spending in December has always had a beneficial influence on their […]

featured

CBN bows to pressure, increases weekly withdrawal limit

The Central Bank of Nigeria has raised the weekly maximum limit for cash withdrawals by individuals and corporate entities through all channels to N500,000 and N5,000,000, respectively. In a letter sent to banks on Wednesday, the CBN disclosed this. Recall that the apex bank stated that the decision was based on input from stakeholders. The […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
News

Debt: Zambia gets $100m from World Bank

  The World Bank announced on Wednesday that it would disburse $100 million for Zambia, despite significant delays in debt restructuring procedures as creditors drag their feet. According to The News Agency of Nigeria, Zambia received a 275 million USD grant from the World Bank in October to aid in its recovery from the COVID-19 […]

News

Nigeria’s wheat import suffers major fall – NBS

The National Bureau of Statistics has revealed that Nigeria imported durum wheat for N753.6 billion in the first nine months of 2022. According to the figures, this is a 16.1% decrease from the N898.2 billion in durum wheat imports during the same time in 2021. The fall in Nigerian wheat imports may be ascribed to […]

News

Senate approves business facilitation bill

The Senate on Tuesday, passed the Business Facilitation (Miscellaneous Provision) Bill 2022, also known as the Omnibus Bill. According to The Vanguard, this was after its earlier passage by the House of Representatives. This was disclosed by the Special Adviser to the President, Ease of Doing Business/PEBEC Secretary, Dr Jumoke Oduwole. According to him, the […]

Naira to fall N500 against dollar - NESG
News

Naira loses slightly against dollar by 0.26%

  The naira traded at 452.67 to the dollar in the Investors and Exporters window on Tuesday. According to The News Agency of Nigeria, the figures represent a 0.26 percent decline from the previous day’s exchange rate of N451.50. The open indicative rate reached a high of N448.80 to the dollar on Tuesday. Before it […]