Business

The rhythm of Nigeria's business world
In response to widespread public concern over the soaring prices of cement, major manufacturers, including Dangote, BUA, and Lafarge, engaged in a meeting with the Federal Government. The gathering, spearheaded by the Minister of Works, David Umahi, and attended by the Minister of Industry...
Serving and former African leaders, including President Samia Suluhu Hassan of Tanzania and Ethiopian President Sahle-Work Zewde, joined in praising the exceptional leadership of Dr. Akinwumi Adesina, President of the African Development Bank (AfDB). Adesina recently clinched the prestigious...
The House of Representatives has undertaken a motion to investigate the potential national security implications arising from cryptocurrency and digital asset transactions. The inquiry also extends to scrutinizing the e-naira's current status on the global cryptocurrency platform, including the...
Bitcoin soared to a new all-time high of $69,200 on Tuesday, driven by a surge in value since US regulators greenlit spot Bitcoin exchange-traded funds (ETFs) in January. The approval by industry giants like Fidelity and BlackRock led to an influx of more than $7.5 billion into the newly...
Meta's major platforms – Facebook, Instagram, and Messenger – are facing a worldwide outage, causing frustration for users globally. The disruption began around 10:20 am ET, leaving hundreds of thousands unable to log in and connect. According to DownDetector, more than 200,000 Americans are...
The Bank of Ghana has suspended the foreign exchange (FX) trading licences of two major Nigerian-owned banks, First Bank of Nigeria and Guaranty Trust Bank (GTB). This decision, effective from March 18, 2024, comes in the wake of fraudulent documentation practices observed during the operations...
The cryptocurrency landscape in Nigeria is facing a seismic shift as Binance, a global crypto exchange giant, announces its departure from the market, ceasing services in the local currency. This unexpected development has triggered a cascade of reactions within the local crypto community...
Binance, one of the world's leading cryptocurrency exchanges, has announced the discontinuation of all services for Nigeria's fiat currency, the naira. The move comes amidst a growing regulatory conflict in the country, signaling a significant shake-up in the cryptocurrency landscape within...
In a profoundly moving "Night of Tributes" dedicated to honoring the life and accomplishments of the late Chief Executive Officer of Access Corporation Plc, Herbert Wigwe, a distinguished assembly of corporate magnates, political figures, and business leaders converged to celebrate the enduring...
In a concerning economic development, the Naira faced a 1.25 percent depreciation against the US Dollar, reaching N1,620/$ at the parallel market on Monday. This marks a N20 decline from its trading rate of N1,600 on March 1, 2024. Bureau de Change (BDC) operators in Lagos quoted buying rates at...
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