News Update
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MTN Nigeria incurs $500 million in forex losses, shareholders funds wiped out
The recent financial disclosures by MTN Nigeria Plc paint a stark picture of the economic challenges gripping the nation. The…
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Is it possible for the government to return fuel subsidy? Peg exchange rate to N600/$
A lot of Nigerians have wondered about the possibility of the government reinstating the fuel subsidy to N400/litre and pegging…
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Understanding CBN’s MPR Increase and Its Impact on Banking Dynamics
The recent adjustment in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN) has left many wondering…
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Showmax overtakes Netflix as Africa’s biggest streaming platform with 39% share
Showmax increased its market share in Africa to 39 per cent. This was way higher than Netflix which claimed 33.5…
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Powerball: American man sues lottery after being told $340m win is error
In a shocking turn of events, a Washington DC man, John Cheeks, is taking legal action against Powerball and the…
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Binance Forced to Adopts USDT Price Cap as FX Scarcity Worsens in Nigeria
Binance, one of the world’s leading cryptocurrency exchanges, has recently implemented a price cap on Tether (USDT) tokens in its…
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Ethiopia becomes first country in the world to ban petrol & diesel car imports
Ethiopia has made history by becoming the first country in the world to prohibit the import of petrol and diesel…
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Bitcoin Breaks $50,000: Crypto King Ascends Again, But Will the Crown Last?
The year is 2024, and Bitcoin, the cryptocurrency king, has just reclaimed its $50,000 throne. For the first time since…
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CBN stops foreign oil companies from remitting 100% of forex proceeds abroad
Naira Tightrope: CBN’s New Move Shakes Up Nigeria’s Oil Sector The Central Bank of Nigeria (CBN) has thrown a curveball…
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Nigeria’s crude production drops to 1.419mbpd, OPEC reveals
Nigeria’s Crude Oil Production Dips Slightly in January 2024 In January 2024, Nigeria experienced a marginal decline in crude oil…
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