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The Ogun State Governorship Election Petition Tribunal, has adjourned till September 4 for the adoption of final written addresses, as parties close cases on Wednesday. The governorship candidate of the Peoples Democratic Party (PDP), Hon. Oladipupo Adebutu, had dragged the Governor of the State, Prince Dapo Abiodun, before the Tribunal, challenging his victory in the […]

In the wake of ACP Olumuyiwa Adejobi’s recent elevation to the position of Assistant Commissioner of Police, the Inspector-General of Police, Dr Kayode Adeolu Egbetokun, NPM, PhD, has once again entrusted him with the role of Force Public Relations Officer. This strategic decision is grounded in the issuance of a recent internal communication, bearing reference […]

Uncertainties, High Lending Rate to Tame Retail Credit–Analysts Steep borrowing rates and nosediving economic conditions would take retail credit growth in 2023. Some Nigerian banks have started recording growth in stage two loans, and this has also started to filter into stage three as private sector activities continue to face challenges. Nigeria’s economic managers are […]

Fitch Affirms Dangote Industries at ‘AA(nga)’ With Stable Outlook With an outlook accorded as stable, Fitch Ratings has affirmed Dangote Industries Limited’s (DIL) National Long-Term Rating and its senior unsecured notes issued by Dangote Industries Funding Plc at ‘AA (nga)’. The rating reflects DIL’s strong business profile, supported by its profitable main operating companies including […]

GSK Shares Become Popular After Exit Notice Shares of GSK Plc listed on the Nigerian Exchange have continued to become expensive as investors take positions. Seeking to profit from the notice, GSK stocks rallied by 20% last week.  Alpha seekers took positions in the pharmaceutical company’s more than 1.195 billion shares outstanding on the local […]

Naira Rebounds as FX Supply Pressures Ease Market participants at the investors’ and exporters’ foreign exchange window exchanged the United States (US) dollars at N757.51 as supply side pressure eased.  Data from FMDQ showed that the Naira on Tuesday appreciated against the US dollar, exchanging at N757.51 at the Investors and Exporters window. According to […]

WhatsApp Introduces Screen Sharing for Video Calls Mark Zuckerberg, the founder of Meta says the company has introduced a new WhatsApp feature with the ability to screen share during video calls. AT3 Resources, a consulting firm managing Meta in Nigeria, said Zuckerberg made the announcement on his Facebook page on Tuesday. It said that the […]

Otti Inaugurates Abia Civil Service Reform Committee Gov. Alex Otti has inaugurated the Abia State Civil Service Reform Committee with a charge to identify and review the anomalies in the state civil service. Speaking on Tuesday during the event at the Government House, Umuahia, Otti urged the committee to discharge its duty credibly to enable […]

NGX Slumps as Stockbrokers Fulfil Large Sell Orders The Nigerian Exchange equities segment slid on Tuesday as stockholders pressed enough sell buttons that halted the previous day’s rally. Stockbrokers at Alpha Morgan Capital had reported that the local bourse was high midday due to strong positioning in banking stocks. However, before the close of the […]

PayPal Launches Stablecoin PayPal has announced the launch of a U.S. dollar-denominated stablecoin, PayPal USD (PYUSD).  The company said PayPal USD (PYUSD) is fully backed by U.S. dollar deposits, short-term U.S. treasuries and similar cash equivalents, and can be redeemed 1:1 for U.S. dollars. It said fully-backed, regulated stablecoins have the potential to transform payments […]Read More

Oil Slumps as China Reduces Import by 18.8% Crude oil prices fell on Tuesday over a weak demand outlook in the world’s largest oil importer, China. Also, the global crude oil market expects the United States (US) inflation report to be released during the week. The figure is expected to hint at the US Federal […]

Investor Risk Eases in Europe in Q1, Challenges Remain – GlobalData Despite global challenges, the European economy shows resilience, driven by lower energy prices, reduced supply constraints, improved consumer sentiment, and a strong labour market. During the first quarter (Q1) of 2023, the EU expanded by 0.1% on a quarterly basis following a contraction of […]