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Naira closes week stronger at N1,534.72/$ 

Naira trades stable at ₦1361/$ as FX turnover rises

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34.3% of employed Nigerians trapped in poverty - Report

Power sector workers warn of crisis amid insecurity, poverty

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Britain urges parents to limit screen time for young children

Britain has advised parents to limit young children’s screen time, recommending no screens for children under 2 and no more than one hour per day for those aged 2 to 5, warning that excessive solo use can interfere with sleep and reduce time for play and physical activity. Governments around the world are increasingly tightening […]

Kuda relaunches cross-border remittance with multi-currency wallet
Business

Kuda cuts jobs across departments amid restructuring

Kuda Technologies Limited, a Nigerian digital bank supported by international investors, has cut jobs across multiple departments as part of a company-wide restructuring, despite reporting improvements in its financial performance. The layoffs impacted several teams, including marketing, where 19 out of 40 employees were affected, two staff members said. In a statement emailed Friday, a […]

Sony unveils advanced PlayStation 5 Pro
Tech

Sony to raise PlayStation 5 prices amid global economic pressures

Sony said on Friday it will increase prices for its flagship PlayStation 5 consoles for the second time in under a year, blaming “pressures in the global economic landscape.” In the United States, the PS5 disc edition will rise from $549.99 to $649.99, a $100 increase following last year’s hike. The digital edition will also […]

Naira closes week stronger at N1,534.72/$ 
Business

CBN’s new diaspora remittance rules to open market

The Central Bank of Nigeria’s new reforms on diaspora remittances aim to break entrenched monopolies in the foreign exchange market, increase inflows, and enhance transparency. The President of the Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, made this disclosure on Friday that the central bank’s policy marks a crucial move toward liberalising […]

Business

Middle East conflict threatens Nigeria’s economy – Cardoso

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has raised concerns over the escalating conflict in the Middle East, warning that it poses a serious threat to Nigeria’s economic stability. Speaking at the Monetary Policy Forum in Abuja on Thursday, Cardoso noted that the tensions could have far-reaching implications for the country’s financial […]

Oil and Gas

NNPCL targets 600tn cubic feet gas reserves expansion

The Nigerian National Petroleum Company Limited has announced plans to increase the country’s gas reserves from the current 210 trillion cubic feet to about 600 trillion cubic feet. The company also revealed ongoing efforts to attract approximately $60 billion in investments into Nigeria’s gas sector as part of its broader expansion strategy. The disclosure was […]

Elon Musk’s xAI secures $10bn in funding to expand AI
Tech

Dutch court orders Musk’s xAI to halt sexualised image generation

A Dutch court has directed Elon Musk’s xAI to halt the creation and distribution of nude images of individuals without their consent in the Netherlands, warning that it will impose a €100,000 ($115,350) daily fine for any violation. In its ruling on Thursday, the Amsterdam District Court said xAI’s Grok artificial intelligence tool and the […]

Business

FG launches major reform to revamp Nigeria’s cooperative sector

The Federal Government has unveiled a comprehensive reform plan aimed at repositioning Nigeria’s cooperative sector, including proposals to establish a cooperative bank and introduce a nationwide digital registry system. Speaking on Thursday at the 8th National Council on Cooperative Affairs in Abuja, the Minister of State for Agriculture and Food Security, Aliyu Abdullahi, said the […]

Private sector laments loan repayment as interest rate hits 26.26%
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32 banks meet revised capital requirements, CBN confirms

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced that 32 Nigerian banks have met the revised minimum capital requirements under the ongoing recapitalisation programme, marking a significant milestone in efforts to strengthen the nation’s financial system. Speaking at the Monetary Policy Forum in Abuja on Thursday, Cardoso described the progress as “commendable,” […]

Business

Tinubu expands CNG initiative to include electric vehicles

President Bola Tinubu has approved the expansion of the Presidential Initiative on Compressed Natural Gas to incorporate electric vehicles, marking a new phase in the initiative’s repositioning. The program will now be called the Presidential Initiative on Compressed Natural Gas and Electric Vehicles. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, […]

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