Cocoa price drop 26% amid increase in Nigeria’s output
Cocoa prices have recently experienced a significant decline by 26%, driven primarily by a surge in output from Nigeria coupled with abundant rainfall. Nigeria, ranking as the world's fifth largest…
UAC Nigeria reports N9.030bn pre-tax profit in Q1 2024
UAC of Nigeria Plc has unveiled a remarkable financial performance for the first quarter ending March 31, 2024. The company reported an astounding pre-tax profit of N9.030 billion, showcasing an…
Food delivery startup Chowdeck raises $2.5m seed funding
Nigerian startup offering on-demand delivery services, Chowdeck, has secured $2.5 million in seed funding. This investment, led by notable backers such as FounderX Ventures, True Culture Funds, Hoaq Fund, Levare…
$2.4bn of total forex claims false, says CBN
The Deputy Governor of Corporate Services at the Central Bank of Nigeria, Mohammed Bello, has disclosed that about $2.4 billion out of the $7 billion backlog for foreign exchange claims…
$277bn needed annually to tackle climate change in Africa – Adesina
The President of the African Development Bank, Dr. Akinwumi Adesina, declared that the continent needs $277 billion annually to tackle climate change. This was disclosed by Adesina at the Islamic…
Fuel scarcity: CSOs urge Tinubu to sack Kyari
Over 200 civil society groups under the aegis of the Coalition of Civil Society Groups Against Poverty in Africa have urged President Bola Tinubu to sack the Group Chief Executive…
Google announces applications for Accelerator Africa
Tech giant, Google, has announced the commencement of applications for the 8th cohort of its Google for Startups Accelerator Africa program. In a statement released by the company, this cohort…
PR crucial for Nigeria’s economic growth, says Cardoso
The Governor of the Central Bank of Nigeria, Yemi Cardoso, has stated that Public Relations is an essential instrument for any country to achieve economic success. This was disclosed by…
EFCC arrest BDC operators as naira weakens to 1,419/$
The Economic and Financial Crimes Commission carried out an unannounced raid at Zone 4 Wuse in Abuja, on Monday, which resulted in the arrest of an unknown number of Bureau…
CBN raises Customs rates for cargo clearance by 14%
The Central Bank of Nigeria has again announced a hike in the exchange rate for paying import duty by 14 per cent. According to Information from the official trade portal…
Tribunal stops Multichoice from raising DStv, GOtv tariffs
The Competition and Consumer Protection Tribunal in Abuja on Monday issued an interim injunction retraining Multi-Choice Nigeria Limited from raising its tariffs and the costs of its product packages, scheduled…
OpenAI signs partnership deal with Financial Times
OpenAI, the creator of ChatGPT, has entered into a partnership agreement with the UK's Financial Times, allowing the AI company to utilize its content for training AI models and collaborating…
