CBN clears $64.44m forex backlog for airlines
Bisola David The Central Bank of Nigeria has announced that it has fulfilled its commitment by clearing a $64.44 million backlog of foreign…
Business
Egypt leads Africa in foreign direct investment
Bisola David The United Nations Conference on Trade and Development World Investment Report 2023, has revealed that Egypt experienced a tremendous increase in FDI,…
IMF lowers 2024 growth projections for Nigeria
The International Monetary Fund reduced its October prediction of 3.1% for Nigeria’s GDP growth in 2024 to 3.0, which is a 0.1%…
Netflix co-founder Reed Hastings donates $1.1bn to charity
Netflix’s co-founder and executive chair, Reed Hastings, has made a remarkable philanthropic move by donating 2 million Netflix shares, valued at over…
Geregu Power reports 110% rise in profit
A major player in Nigeria’s energy sector, Geregu Power Plc, has reported a staggering 110% increase in operating profit in its just issued 2023…
X lifts search ban on Taylor Swift
Social media company X reversed the ban on searches for Taylor Swift on Monday evening, which had been implemented after fake sexually-explicit…
MTN Nigeria CEO advocates local assembly to lower smartphone costs
The Chief Executive Officer of MTN Nigeria, Karl Toriola, has emphasized the high cost of mobile phones as a barrier to digital inclusion in…
Italy accuses OpenAI of data breaches
Italy’s data protection authority, Garante, informed OpenAI on Monday that its ChatGPT artificial intelligence chatbot application violates data protection rules. Garante, known…
Pension funds climb by 22% to N18tn – NAICOM
The total assets under the Contributory Pension Scheme hit N18.36 trillion by the end of 2023, according to National Pension Commission data.…
Naira drops to all-time low on official window, trades at 1348/$
The naira hit an all-time low of N1348.63 per dollar on the Nigerian Autonomous Foreign Exchange Market on Monday. The PUNCH reported…
OPay launches security features to secure clients’ funds
Nigerian financial technology company, OPay, has introduced a number of security measures to combat financial fraud. The PUNCH reported that according to…
Amazon pulls out of iRobot acquisition
Alex Omenye Amazon’s attempt to acquire iRobot, the renowned robotic vacuum manufacturer, has come to an end due to challenges faced with…