Blog

World's richest woman, brother lose $5.4bn as Walmart shares decline
News

World’s richest woman, brother lose $5.4bn as Walmart shares decline

The world’s richest woman, Alice Walton, and her brother Jim Walton have seen their collective net worth drop by $5.4 billion following a decline in Walmart Inc.’s stock over the past month. According to Forbes’ real-time billionaire rankings, each sibling lost $2.7 billion, bringing Alice Walton’s fortune to $101.2 billion and Jim Walton’s to $108.9 […]

Nigeria’s debt crisis deepens as FG borrows N10.85trn in four months
News

Naira declines, erasing recent gains in official, parallel markets

Over the past week, the Nigerian naira experienced a depreciation against the US dollar in both official and parallel markets. At the official market, the naira weakened by approximately 1.66%, closing at ₦1,517.24 per dollar from ₦1,492.49 the previous week. Similarly, in the parallel market, the naira eased to an average of ₦1,520 per dollar, […]

News

Gold holds steady as economic uncertainty fuels safe-haven demand

Gold prices remained steady after last week’s gains as growing concerns about the global economy boosted demand for safe-haven assets. Spot gold held near $2,912 an ounce after rising nearly 2% last week. In the US, President Donald Trump warned of a “period of transition” while pushing tariffs and federal job cuts. Meanwhile, Chinese data […]

News

Nigerians import few cars as inflation, FX woes bite

Nigerians imported fewer passenger cars in 2024 as rising inflation and naira depreciation made foreign exchange more expensive, increasing vehicle costs. According to the National Bureau of Statistics, the total value of passenger car imports fell by 14.3% to N1.26 trillion in 2024, down from N1.47 trillion in 2023. The drop in car imports came […]

Aviation auditors begin security audits of Lagos, Abuja airports
featured

Aviation unions demand Customs Chief’s removal over clash with FAAN security

Aviation workers have issued a 14-day ultimatum to the Federal Government, demanding the removal of the Area Controller of the Nigeria Customs Service at the Pilgrims and Cargo Terminal of Murtala Muhammed International Airport, Lagos. This action follows an alleged assault on the Director of Aviation Security Services at the Federal Airports Authority of Nigeria, […]

Trump signs executive order establishing US Bitcoin reserve
Tech

Trump reveals negotiation with four potential buyers for TikTok

United States President Donald Trump stated on Sunday that he was in negotiations with four potential buyers for TikTok’s U.S. operations and that a deal could be finalized soon. “We’re dealing with four different groups, and a lot of people want it,” Trump told reporters aboard Air Force One on Sunday. He didn’t specify the […]

News

MAN laments excessive annual charges by FRC

The Manufacturers Association of Nigeria has expressed serious concern over the substantial increase in annual charges imposed on private companies by the Financial Reporting Council of Nigeria under the recently amended FRCN Act. MAN describes these charges as “astronomical,” particularly affecting listed companies and imposing excessive fees on non-listed companies, including those operating at a […]

Bitcoin demand hits two-year high Argentina amid local currency crash
Crypto

Bitcoin falls 5% after Trump’s strategic reserve order

Bitcoin declined on Monday amid ongoing volatility following President Donald Trump’s executive order to establish a U.S. Strategic Bitcoin Reserve. Bitcoin was trading at $81,712, down over 5 per cent but recovering from earlier lows, according to Coin Metrics. The reserve will be funded with bitcoin seized in criminal and civil forfeiture cases, with no […]

Transcorp top gainers chart as NGX closes at 78,020.54 points
News

Equity market records N476bn loss in weekly performance

The Nigerian stock market declined, losing N476.0 billion in one week as investors traded 1.818 billion shares worth N47.226 billion across 64,222 deals. This marks a slight drop from the previous week’s 1.848 billion shares valued at N51.387 billion in 63,090 deals. Market capitalization declined by 0.71% to N66.717 trillion from the previous week, while […]

News

FG, tanker drivers differ on enforcement of 60,000-litre truck ban

The Federal Government appears to have failed to enforce the order to ban trucks with a capacity exceeding 60,000 litres from loading petroleum products at depots and traveling on federal roads. Industry operators said the enforcement of this policy has been postponed to September 2025, according to The Punch. This delay has raised concerns among […]

Google to pay $30m to settle YouTube children’s privacy lawsuit
News

Google removes diversity, equity from ethics team page

Google has quietly altered the webpage for its Responsible AI and Human-Centered Technology team, removing references to “diversity” and “equity.” The RAI-HCT team is responsible for researching AI safety, fairness, and explainability. Previously, the page included terms such as “marginalized communities,” “diverse,” “underrepresented groups,” and “equity” to describe the team’s work. However, these references have […]

News

Musk reaffirms commitment to keep Starlink active in Ukraine

Elon Musk has reaffirmed his commitment to maintaining Starlink services in Ukraine. The United States has suspended military aid and intelligence sharing with Ukraine following a contentious meeting between President Donald Trump and Ukrainian President Volodymyr Zelensky on February 28, 2025. This decision has raised concerns about Ukraine’s defense capabilities and the potential impact on […]