Lagos community begs Ikeja Electric foe new transformer
Members of Alimosho Local Government Area of Lagos, have appealed to a Nigerian Distribution Company, Ikeja Electric to fulfil the promise it made to install a relief transformer to the…
US arrests Chinese tycoon Wengui over $1bn fraud
US authorities have accused a New York-based Chinese property tycoon, Guo Wengui of a billion-dollar fraud. BBC reported that Wengui and one of his business partners, Kin Ming Je,…
US business inventory declines first time in two years
U.S. business inventories declined for the first time in close to two years in January, possibly setting the stage for inventory investment to slow first-quarter economic growth. This was disclosed…
Chams appoints new executive-director
Mr. Mohammed Bashir Yunusa has been appointed as a Non-Executive Director of the business by Chams Holding Company Plc. According to Nairametrics, this information was sent in a notice to…
Nigeria’s inflation rate hits 21.91%
The National Bureau of Statistics on Wednesday reported that Nigeria's inflation rate has risen to 21.91%. The increase in inflation rate accounts for about 0.09 per cent from the previous…
BMW projects EVs to hit 50% of sales in 2030
The automaker, BMW said on Wednesday it projects over 50% of new sales to be all-electric vehicles well ahead of its 2030 target. According to Reuters, BMW envisions a hydrogen-powered…
Samsung to set up factories, invest $230b in S’Korea chipmaking
By Christian George A renowned tech firm, Samsung Electronics has concluded plans to add up five chipmaking base as well as invest $230 billion in South Korea. This…
Banks slash travel allowance, foreign school fees over FX shortage
Deposit Money Banks have slashed the amount their customers can apply for Personal Travel Allowance and schools fees as the foreign exchange worsens. Lenders have been forced to take drastic…
Foreign airlines stranded funds hit $743m
The International Air Transport Association revealed on Tuesday that the foreign airline funds trapped in Nigeria have increased from $662m in January 2023 to $743,721,09. This was according to a…
CBN holds MPC meeting March 20, 21
The Central Bank of Nigeria has on Tuesday announced the date for its 290th Monetary Policy Committee meeting. According to the announcement, it is a two-day meeting and it will…
Ecobank, IITA train 16,000 youths to generate income through agriculture
In order to teach 16,000 Nigerian youths how to build wealth through agriculture, Ecobank Nigeria Limited announced a partnership with the International Institute of Tropical Agriculture. Young Nigerians between the…
Oil marketers shun CBN directive, reject old naira notes
Petrol marketers of Premium Motor Spirit, aka. Petrol stations, have continued to reject the old naira notes despite the recent directive from the Central Bank of Nigeria, as they clamour…
