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Domestic transactions on NGX hit record ₦10.68trn in July

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Why Q1 2026 pension contributions dropped by 38% —

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Naira strengthens to ₦1,346.90/$ amid surge in FX activity

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DStv, GOtv users lament activation delays as EPL returns

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OPEC+ considers postponing oil production increase

Key OPEC+ nations are discussing delaying the planned oil production restart in January, possibly for several months, according to delegates. Key OPEC+ nations are uncertain about proceeding with the 180,000 barrel-a-day increase scheduled for January, and may delay additional hikes planned for subsequent months due to concerns over a global oil oversupply, according to anonymous […]

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Orange partners OpenAI, Meta to develop African-language AI models

French telecom giant Orange announced a partnership with Microsoft-backed OpenAI and Meta to develop custom AI models that better understand regional African languages. Orange is collaborating with OpenAI and Meta to create custom AI models based on their Whisper and Llama open-source frameworks. These models aim to better understand West African languages, which are often […]

Huawei revisits 5G phones to overcome US ban - Report
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Huawei unveils smartphones with self-developed OS

Huawei has launched the Mate 70 series, featuring its latest self-developed operating system. This move highlights Huawei’s push for technological independence amid U.S. sanctions. The Mate 70 follows the Mate 60, which surprised the tech and political spheres last year by featuring advanced semiconductors despite U.S. restrictions, according to CNBC. Huawei has relied on its […]

Stock investors gain N3.4tn in shortened trading week
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Naira weakens, foreign transactions drop on NGX

Foreign investors are increasingly withdrawing from the Nigerian Exchange, with year-to-date foreign outflows reaching N400.04 billion by October 2024, surpassing foreign inflows of N344.30 billion. This has resulted in a net withdrawal of N55.74 billion as data from the Nigerian Exchange reveals that foreign transactions accounted for just 16.65% of total trading activity, valued at […]

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Rising fraud cases in banks spark concerns among stakeholders

Stakeholders in Nigeria’s financial sector are expressing concern over the increasing cases of fraud in banks, with billions of Naira being lost to fraudsters every month. This follows the release of the Financial Institutions Training Centre fraud and forgery report for Q3 2024, which highlights a significant rise in both the number of fraud cases […]

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ICT contribution to Nigeria’s GDP drops to 16.35% – NBS

The Information and Communications Technology sector contributed 16.35% to Nigeria’s real GDP in Q3 2024, down from 19.78% in the previous quarter, according to the National Bureau of Statistics . This marks an increase compared to the 15.97% contribution recorded in the same period last year. According to the NBS, the ICT sector includes four […]

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CBN raises Interest rate to 27.50%

The Central Bank of Nigeria has raised its Monetary Policy Rate by 25 basis points, bringing it to 27.50% from 27.25%. This decision was disclosed by CBN Governor, Yemi Cardoso after the Monetary Policy Committee meeting in Abuja on Tuesday. The committee’s decision was unanimous, marking another adjustment since September. The MPC also decided to […]

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P’Harcourt refinery starts production with truck loading underway

The state-owned Port Harcourt Refinery has commenced production of petroleum products. This was disclosed by the spokesperson for the Nigerian National Petroleum Corporation Limited, Olufemi Soneye on Tuesday. Soneye also confirmed that truck loading operations would start today. Soneye stated that efforts are ongoing to restore operations at the Warri Refinery. “Today marks a monumental […]

Disney announces crackdown on password sharing
Tech

Disney settles women’s pay disparity lawsuit with $43m

Walt Disney has agreed to pay $43.3 million to settle a lawsuit that accused the company of gender-based pay disparity, with female employees allegedly earning $150 million less than male counterparts over eight years. As part of the settlement, Disney will hire a labor economist for three years to analyze and address pay equity among […]

Reps adopt tax reforms, retains VAT at 7.5%
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Lawmakers questions FG’s foreign loans despite surpassed revenue targets

Lawmakers have raised concerns over the Tinubu administration’s $2.2 billion loan request, questioning the need for foreign borrowing despite exceeding revenue targets in 2024. Members of the joint National Assembly Committees on Finance, led by Senators Sani Musa and Abiodun Faleke, expressed their objections during the scrutiny of the 2025-2027 Medium Term Expenditure and Fiscal […]

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Nigeria’s oil production passes OPEC quota – NNPC

The Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Authority have confirmed that the country’s crude oil production has surpassed the 1.5 million barrels per day quota set by the Organisation of the Petroleum Exporting Countries m. The Chief Corporate Communications Officer of NNPC, Olufemi Soneye, made this disclosure in a statement […]

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FG to implement international cargo tracking to boost revenue

The Federal Government, through the Nigerian Shippers Council, has announced plans to implement the International Cargo Tracking Note to enhance Nigeria’s security and increase revenue generation. The Executive Secretary of the council, Mr. Pius Akutah, made this disclosure at a recent event in Lagos. Represented by the Director of Special Duties at the Nigerian Shippers […]

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