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…
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has unanimously decided to hold all the parameters. This was announced by the CBN Governor, Mr Olayemi Cardoso, on Thursday during a press briefing in Abuja. In this regard, that keeps the Monetary Policy Rate (MPR) at 27.50 percent, and retains the asymmetric corridor around…
The Central Bank of Nigeria (CBN) has directed all banks and financial institutions to publicly disclose details of dormant accounts, unclaimed balances, and other financial assets on their official websites. The directive, contained in a circular issued on Monday, is titled “Guidelines on Management of Dormant Accounts, Unclaimed Balances, and Other Financial Assets in Banks…
The Nigerian Institute of Quantity Surveyors (NIQS) has charged quantity surveyors to upskill, network and embrace technological innovations to remain relevant in the face of current economic challenges and climate change. NIQS President, Kene Nzekwe, spoke at the yearly Distinguished Lecture Series organised by the Kaduna State Chapter, themed: “Enhancing the Survival of Quantity Surveying…
The Dangote Petroleum Refinery says it has raised daily production to 85 per cent of its 650,000 barrels per day capacity, hoping to hit full capacity in the next 30 days. Officials of the firm, however, declined to state where the plant intends to source its crude oil, as supply from Nigeria has been limited….
The game-changing role technology, especially Artificial Intelligence (AI), has continued to play in individual and corporate systems, emotional intelligence and human values, have been identified as equally key to the success of such individuals and corporate organisations. A top Project Management professional and Managing Director, Project Management Institute (PMI), Sub-Saharan Africa, Dr. George Asamani, therefore…
Barely a month after announcing the commencement of the 125,000 barrels Warri refinery, the Nigerian National Petroleum Company Limited has said the facility is undergoing a planned routine maintenance programme aimed at ensuring optimal operations. It also denied reports of an explosion at the Warri Refining and Petrochemical Company. The company, in a statement signed…
The Katsina State Executive Council, chaired by Governor Dikko Radda, has approved bulk purchases of electric/solar power vehicles and tricycles under the public transportation programme. The SEC also approved the construction of a 20-storey building in Lagos. Addressing newsmen after the council’s meeting on Thursday at the Government House, Katsina, the Director General, Katsina State…
