Business

The rhythm of Nigeria's business world
The FCCPC has accused market cartels of manipulating food prices in Nigeria. CEO Tunji Bello highlighted exploitative practices during a Lagos town hall meeting. The commission is focused on curbing anti-competitive behaviors while urging traders to adopt fair pricing amid government efforts to...
Aviation workers in Nigeria plan a nationwide protest on September 18, 2024, against a 50% revenue deduction policy affecting aviation agencies. Key unions demand the reversal of this policy, arguing it threatens the sustainability of crucial agencies like the Nigeria Civil Aviation Authority...
The Naira gained N81 against the dollar, earning N1,555.75 from N1,637.59 within 24 hours. Bureau de Change operators confirmed a similar improvement, with rates improving to N1,650 per dollar. Foreign exchange transaction turnover also increased, reaching $221.24 million on Wednesday, up from...
Elon Musk received backlash for calling Taylor Swift a "creep" after she endorsed Kamala Harris over Donald Trump. Swift criticized misinformation regarding her political stance and urged her followers to vote. Musk's controversial comment sparked outrage among users, reigniting discussions...
As of September 9, 2024, Nigeria’s black market exchange rate for the US dollar hit N1,650, while the Central Bank’s official rate stands at N1,629. Economic instability, forex shortages, and policy shifts continue to fuel the gap between official and parallel rates, signaling deep-rooted...
The European Court of Justice has ordered Apple to pay $14.4 billion in back taxes to Ireland, marking a significant victory for the European Commission's crackdown on tax avoidance. The ruling supports the 2016 decision that found Ireland gave Apple unlawful tax benefits, reducing its tax rate...
Apple has unveiled the iPhone 16, designed for AI integration, featuring the powerful A18 chip for up to 30% faster performance. The new model includes physical camera controls, improved battery life, and enhanced privacy features, starting at $799 for the 128GB variant. iOS 18 accompanies this...
Aliko Dangote announced Nigeria will halt polypropylene imports starting October, as the Dangote refinery prepares for full operations. This move aims to meet local demand, reduce reliance on foreign suppliers, and boost the domestic manufacturing sector, ultimately benefiting Nigerian...
Elon Musk is on track to become the world’s first trillionaire by 2027, with his wealth growing at a staggering rate. Tesla's impressive market value and rapid growth support this forecast, with other billionaires like Gautam Adani and business leaders predicted to follow by 2028. Elon Musk is...
As of September 9, 2024, the black market exchange rate for the US dollar to the Nigerian naira stands at N1,650. The rate varies from the Central Bank of Nigeria's official exchange rate of N1,629, reflecting growing economic challenges, currency shortages, and pressures on Nigeria's forex...
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