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Tag: Nigeria

Agribusiness shareholders to raise N5bn capital
Business

Agribusiness shareholders to raise N5bn capital

Ellah Lakes Plc’s shareholders have approved a plan to raise approximately N5 billion in stock. The PUNCH reported that the shareholders gave their consent at the company’s latest Annual General Meeting. Resolutions from the AGM were submitted to the Nigerian Exchange Limited on Thursday. “That, the Board of Directors be and is hereby authorized to raise up to […]

Ex-finance minister Agunloye freed from prison
News

Ex-finance minister Agunloye freed from prison

By Christian George Former Minister of Power and Steel, Olu Agunloye, has reportedly regained his freedom from Kuje Prisons after fulfilling bail conditions. This was made known by the spokesperson for the Federal Capital Territory Command of the Nigerian Correctional Service, Adamu Duza, in a release. Duza stated that the former minister regained his freedom […]

Mark Zuckerberg closes in on Elon Musk, gains $54bn in 2024
Tech

Meta still committed to metaverse projects, says Zuckerberg

Meta CEO, Mark Zuckerberg has said that the company is still focused on its metaverse project despite recent AI investments. “I don’t know how to more unequivocally state that we’re continuing to focus on Reality Labs and the metaverse,” Zuckerberg told The Verge, and maintained that the company is still committed to investing $15 billion […]

Elon Musk’s xAI in talks to raise $10bn at $75bn valuation
Tech

Elon Musk’ X adds audio, video call features to Android

Social network, X, formerly known as Twitter has made it possible to make audio and video calls straight from the app to the Android client. After an app update, Android users will be able to use the functionality, according to a post made by one of the X engineers working on the project. CEO Linda […]

Business

CBN to host first MPC meeting under Yemi Cardoso

The Central Bank of Nigeria will hold its inaugural Monetary Policy Committee meeting on February 26th and 27th. Nairametrics reported that this is according to a preliminary MPC meeting calendar signed by the CBN’s Director of MPD. According to the document, the bank will host its second MPC meeting on March 25th and 26th, 2024. More […]

Customs resume electronic auction of vehicles, overtime goods
News

Customs resume electronic auction of vehicles, overtime goods

The Nigeria Customs Service announced on Friday that it has resumed the electronic auctioning of abandoned, confiscated cars and other items, including containerized consignments that have been sitting in ports for years. BusinessDay reported that according to the National Public Relations Officer for Customs, Abdullahi Maiwada, the redesigned e-auction platform was presented on Tuesday, January 16, 2024. […]

World Bank bans Nigerian companies, CEO over fraudulent practices
News

Internet access cut poverty, boosted employment in 2023 – W’Bank

The World Bank has revealed that exposure to internet access after more than three years resulted in a 7% reduction in extreme poverty in Nigeria and Tanzania. This exposure resulted in an 8% rise in labour force participation and pay employment. The bank issued a new brief that read: “In 2023, a World Bank flagship report found that […]

NGX halts trading of delisted-GSK shares
featured

GSK gets SEC approval to delist from NGX

GlaxoSmithKline Consumer Nigeria Plc has announced that it has received formal Securities and Exchange Commission approval for its proposed scheme of arrangement. This will lead to minority investors getting a total cash payment of N17.42 per share for each share owned. GlaxoSmithKline UK, a prominent pharmaceutical company, announced its pullout from Nigeria in August after more […]

Port Harcourt Disco promises clients impactful year
Electricity

Port Harcourt Disco promises clients impactful year

The Management of the Port Harcourt Electricity Distribution Plc has guaranteed customers within its franchise, a new year of positive impact as it launched the business year. According to Arise News, PHED’s Managing Director and Chief Executive Officer, Dr. Benson Uwheru, offered the assurance at a strategic discussion with business executives from across the coverage region. The MD reiterated […]

New mosquito species 'Steve' threatens malaria fight in Nigeria, others
News

New mosquito species ‘Steve’ threatens malaria fight in Nigeria, others

Nigeria and other African countries are at risk of malaria over the discovery of a mosquito species known as “Steve” (scientifically named Anopheles stephensi) which can be responsible for an increase in malaria cases and is raising serious public health concerns. According to the World Health Organization, the “Steve” mosquito, which is found in South […]

Why CBN won't print naira again - Budget minister
Banking

Why CBN won’t print naira again – Budget minister

The Federal Government has stated that it will no longer permit the Central Bank of Nigeria to print money through Ways and Means to pay the budget deficit in the face of revenue pressures on the 2024 national budget. The Minister of Budget and National Planning, Atiku Bagudu, revealed this information in an interview with journalists […]

Amazon plans stand-alone app for payments in India
Tech

Amazon lays off staff from Buy with Prime division

Amazon on Thursday, announced that it is letting go of less than 5% of its workforce at its Buy with Prime division. Buy with Prime, which debuted in 2022, provides fulfilment and shipping services via its logistics network to businesses that aren’t Amazon merchants. The division is still a high priority, according to Amazon, which […]

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