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NGX inches Higher as Banking Stocks Rally The Nigerian Exchange (NGX) maintains an uptrend as banking stocks rally as the market expects the monetary policy committee of the Central Bank’s decisions on key policy rates. The stock market indicators were spurred by buying interests in a few banking names, lifting year-to-date returns to 2.67% as […]

Apple Inks Deal with Broadcom for U.S Made Chips Apple Inc said it has entered a multi-billion-dollar deal with chipmaker Broadcom Inc to use chips made in the United States, the company said in a release. Under the multi-year deal, Broadcom will develop 5G radio frequency components with Apple that will be designed and built […]

IMF Reaches Agreement with Kenya on Credit Facility The International Monetary Fund (IMF) has reached a staff-level agreement with Kenya on the fifth review of the Extended Fund Facility and Extended Credit Facility Arrangements and the Resilience and Sustainability Facility. Haimanot Teferra led the team that visited Nairobi for the fifth review of Kenya’s economic […]

Jumia Records $30.9mn Loss in Q1 Africa e-commerce giant, Jumia Technologies AG, announced today that its operating loss moderated in the first quarter of 2023 amidst a revenue slump. The e-commerce company reported that revenue reached $46.3 million in the first quarter of 2023, down 3% on a year-over-year basis, mostly driven by First Party […]

Yield on T-Bills Dips Ahead of Auction, MPC Decision Following a moderate buying momentum in the secondary market, the average yield on Nigerian Treasury bills (NTB) declined ahead of the midweek auction and monetary policy committee decision on the benchmark interest rate. The Central Bank of Nigeria (CBN) is expected to conduct a primary market […]

Bank of England Admits to Errors in UK Inflation Forecasts The Bank of England has admitted it made errors in its forecasting of United Kingdom (U.K.) inflation and said it has some “very big” lessons to learn over how it decides monetary policy. Policymakers faced criticism during a Treasury Committee meeting over the failure to […]

President-elect Bola Tinubu has given a hint of what transpired at his meeting with ex-British Prime Minister Tony Blair. Recall that Tinubu played host to Blair at Defence House, Abuja, on Tuesday. Tunde Rahman, the president-elect’s spokesman, who broke the news of the meeting, did not go into details. However, he released pictures with caption, […]

Former Senate majority leader, Senator Victor Ndoma-Egba, has kicked against the endorsement of Chief Godswill Akpabio as potential President of the 10th Senate. The All Progressives Congress (APC) party leadership and President-elect Bola Tinubu have endorsed Akpabio as the next Senate President. In an interview on Sparkling FM, Calabar, Cross River State, Ndoma-Egba frowned at […]

*Seun Kuti’s bail conditions met – Lawyer Afrobeat musician, Seun Kuti has been released on Tuesday night on bail, from the detention of the State Criminal Investigation Department, Panti, Lagos, TNL, gathered. The development was confirmed by his attorney, Adeyinka Olumide-Fusika, SAN, in a telephone interview with our correspondent on Tuesday night. “Yes, Ṣeun Kuti […]

The police yesterday said it had arrested an Abuja resident, Ogenevowero Emefeke, for allegedly duping an Australian national of $60,000 (Australian Dollars) in a romance scam. The arrest followed intelligence collaboration between the Nigeria Police Force – National Cybercrime Centre (NPF-NCCC) and the South Australian Police Department (SAPOL). Force Public Relations Officer (PRO), Olumuyiwa Adejobi […]

Counsel to Seun Kuti, an Afrobeat singer, Adeyinka Olumide-Fusika (SAN), and Kunle Adegoke, said the embattled singer will be released today (Tuesday). Kuti’s lawyers made the remark in a statement they jointly signed and released to the media stating that the release of Mr Kuti on bail, as ordered by the Magistrate, is only waiting […]

A report has revealed that the British Special Air Service and the European country’s other special forces have carried out operations clandestinely in Nigeria and 18 other nations for the past 12 years. This was corroborated by an incident in 2012 when a group of SBS commandos attempted and failed to rescue a Briton and […]