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…
Finance
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%…
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…
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.…
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…
Linktree adds new features for users
Alex Omenye Linktree, the link-in-bio platform, on Monday, unveiled new features, including link scheduling, archiving, and automated retrieval of the latest videos…
CBN releases additional $500m to clear FX backlog
The Central Bank of Nigeria has granted an additional $500 million to get rid of the verified FX backlog. According to The…
Nigeria Railways records 103% rise in Q3 2023 income
The Nigeria Railway Corporation generated around N1.895 billion in income from passenger and cargo transportation in the third quarter of 2023. The…
FCMB increases earnings by 207% to N95bn
FCMB Group has recorded a 206.86 per cent increase in profit for the fiscal year ending December 2023 to N95.52 billion. According to…
Why fossil fuel phaseout is unavoidable – UN
The United Nations Secretary-General, António Guterres, stated that phasing out fossil fuels was not only necessary but also unavoidable. The PUNCH reported…