South Africa called Friday for the reform and reinforcement of the World Trade Organization after US President Donald Trump imposed sweeping tariffs, saying all nations need to abide by the rules of global trade. The tariffs, including 31 percent on US imports from South Africa, “will significantly disrupt trade across the board”, Trade Minister Parks…
The Chief Executive Officer of MTN Ghana, Stephen Blewett, has dismissed accusations that the telecom operator steals customer data, a persistent complaint he says he’s faced in every market during his career, MyJoyOnline, Ghanaian online news portal, reported on Wednesday. His comments come as a wave of similar concerns sweeps through Nigeria, where subscribers are…
The World Bank has approved three financing operations totalling $1.08bn to support education, nutrition, and economic resilience in Nigeria. According to a statement on the bank’s website on Wednesday, the concessional loans are aimed at improving the quality of education, building household and community resilience, and enhancing nutrition for underserved groups. The statement read, “The…
Sterling Bank has announced the removal of transfer fees on all local online transactions, becoming the first major Nigerian bank to eliminate the contentious charges for digital banking. The move was confirmed by the bank on Tuesday in a press release. The statement noted that the bank reaffirmed its commitment to customer-centric banking, declaring that…
Telecom subscribers are sending emails and direct messages to the Nigerian Communications Commission and the Federal Competition and Consumer Protection Commission, demanding an investigation into what they describe as unexplained data consumption. Operators insist that there is no mechanism for reducing customers’ data, arguing instead that rising consumption is due to user behaviour, particularly the…
There are indications that the naira-for-crude policy of the Federal Government may continue, as impeccable insider sources familiar with the development insisted on Monday that all parties involved in the deal would reconvene soon. The first phase of the six-month deal involving the Federal Government, Nigerian National Petroleum Company Limited, and Dangote Petroleum Refinery ended…
Air Peace has said travelers will enjoy up to N600,000 reduction in airfares when they connect from cities across Nigeria to London with one additional luggage. The airline said this in a statement on Wednesday, adding that the promo runs until March 31, 2025, with an extended travel period until April 15, 2025. Air Peace…
Bitcoin and other major cryptocurrencies tumbled on Tuesday as concerns over the US economy and trade tensions grew. Bitcoin dropped 3.2% to $79,937 after hitting a low of $76,624. Ethereum fell sharply by 7.5% to $1,911. The global crypto market cap declined 4.3% to $2.6 trillion, The Economist reports. Solana, XRP, Cardano and Dogecoin also…
MTN Nigeria reported a N400.44bn loss after tax for the year ended December 31, 2024, as the devaluation of the naira drove up foreign exchange losses and weighed on the company’s earnings. The loss, disclosed in the company’s audited financial statements released on Thursday, represents a 192 per cent increase from the N137.02bn loss recorded…
The Central Bank of Nigeria (CBN) and its Monetary Policy Committee (MPC) have implemented strategic measures to stabilize the naira and control inflation, marking a significant shift in the nation’s macroeconomic direction. At the 299th MPC meeting, held on February 19 and 20, 2025, the committee decided to maintain the Monetary Policy Rate (MPR) at…
