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FG reviews Chinese firm’s proposal to build 10,000

  • 15th July 2026

CBN repays N2.97tn in maturing OMO bills

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Nigeria granted N34tn in import duty exemptions in

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Petroleum marketers reject Dangote’s dollar pricing, warn of forex

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Tag: Economy

How Edo IGR rose by 40% to N62bn in 2023 - Panel
Business

How Edo IGR rose by 40% to N62bn in 2023 – Panel

Edo State’s Internally Generated Revenue increased by more over 40% to N62 billion in 2023, from N45 billion the previous year. According to The PUNCH, the Chairman of the Edo Taskforce on Internally Generated Revenue, Osagie Inegbedion, announced this at a press briefing held in Benin City, the capital of Edo State, following the 2024 EIRS Management Performance […]

CBN stops foreign oil corporations from sending all fx proceeds abroad
featured

Relocated CBN staff to resume Lagos office February 2

The Central Bank of Nigeria’s redeployed staff, estimated at 1,533 or 36.22 per cent, are due to resume in the Lagos headquarters on Friday, February 2. According to The PUNCH, a person who was privy with the situation stated the plan was still in place and affected employees would return this weekend. “Yes, the plan is […]

Guinness Nigeria's board director Gbadegesin steps down
Appointments

Guinness Nigeria’s board director Gbadegesin steps down

Guinness Nigeria has announced the resignation of its director, Mrs Tariye Gbadegesin’s from the board. The PUNCH revealed that this is according to a statement signed by Guinness Nigeria’s Legal Director/Company Secretary, Mrs Abidemi Ademola, and the resignation is effective February 24, 2024. It added that Gbadegesin’s departure was consistent with the terms of her recent […]

Tech

Wattpad lays off staff in restructuring move 

Toronto-based storytelling platform, Wattpad owned by Naver’s Webtoon Entertainment, underwent a recent workforce reduction, cutting approximately 15% of its staff, or around 30 jobs, TechCrunch reported. This move, part of the company’s restructuring plan, aims to trim costs as its LA-based parent company prepares for a potential initial public offering in the U.S. by 2025. […]

FG shuts 13.5m social media accounts, deletes 59m posts for violations
Tech

Top ten most downloaded apps in 2023

Meta’s Instagram has remained the most downloaded app in the world across Google’s Play Store, and Apple App Store, overtaking TikTok for the first time, according to Appfigures. The photo-sharing platform garnered 54M downloads to occupy the top position with TikTok following with 47M downloads. Facebook and WhatsApp are neck on neck with 39M and […]

CBN clears $64.44m forex backlog for airlines
Aviation

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 exchange owed to airlines. The Times reported that this new payout increases the total verified amount paid to airlines to $136.73 million, completing the settlement of proven FX claims in the industry. However, this […]

Egypt leads Africa in foreign direct investment
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, more than double of the $11 billion in 2022, establishing it as Africa’s leading economy with the most foreign investments. Business Insider reported that this considerable growth can be ascribed to increased cross-border merger […]

IMF lowers 2024 growth projections for Nigeria
Economy

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% reduction. The IMF made this known in its updated World Economic Outlook for 2024 and 2025. The analysis predicts that Sub-Saharan Africa’s GDP will expand by 3.8% in 2024 and 4.1% in 2025, […]

Netflix co-founder Reed Hastings donates $1.1bn to charity
Tech

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 $1.1 billion at the current market price, to the Silicon Valley Community Foundation in Mountain View, California. This substantial donation, representing around 40% of Hastings’ Netflix holdings, was disclosed in a recent Securities […]

Geregu Power reports 110% rise in profit
Business

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 audited financial statement. According to Nairametrics, this enormous growth demonstrates the company’s robust business model and strategic objectives, which have positioned it as an industry leader. The company’s financial performance for the fiscal year ending […]

X lifts search ban on Taylor Swift
Tech

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 images of the pop singer circulated on the platform. The search functionality has now been reinstated, and Joe Benarroch, head of business operations at X, stated on Monday, “We will continue to be […]

ChatGPT’s AI image feature delayed for free users
Tech

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 for its proactive stance in evaluating AI platform compliance with the EU’s data privacy regulations, had previously banned ChatGPT last year over alleged breaches. Following adjustments made by OpenAI, the service was reinstated, […]

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