The Federal Competition and Consumer Protection Commission (FCCPC) has praised the Competition and Consumer Protection Tribunal for its ruling on the appeal brought by Meta Platforms Incorporated (Facebook) and WhatsApp LLC. This announcement was made in a statement by Mr. Ondaje Ijagwu, the FCCPC Director of Corporate Affairs, on Friday in Abuja. Ijagwu noted that…
Apple Inc. is reportedly planning to relocate the assembly of all iPhones sold in the United States to India, potentially as early as next year, as part of a strategic shift away from China, according to the Financial Times. This decision is largely influenced by ongoing trade tensions between the U.S. and China. The Financial…
As of March 2025, Nigeria’s broad money supply has surged to N114.22 trillion, countering the Central Bank of Nigeria’s (CBN) recent monetary policy tightening efforts from the previous quarter. This information comes from the latest money and credit statistics released by the CBN for the first quarter of 2025. The current figure marks a 24…
In 2024, nine Nigerian banks collectively earned N14.26 trillion in interest income, according to an analysis of their audited financial results. In contrast, the manufacturing sector, often referred to as the real sector, is facing rising operational costs, which totaled N2.5 trillion in 2024 alone. The analysis, which examined the financial results of First Holdco,…
On Wednesday, Dangote Refinery announced a reduction in the ex-depot price of Premium Motor Spirit to N835 per litre, down from N865. The $20 billion refinery communicated this change to its customers in a notice issued on Wednesday morning, reflecting a decrease of N30 in the price of Dangote petrol. Just six days prior, the…
Nigeria has become a prime target for Ponzi schemes, resulting in millions of unsuspecting investors losing their life savings in a cycle of financial deceit and broken promises. From digital platforms to agriculture-based investments, these fraudulent schemes continue to exploit the desire for quick returns, particularly in a country facing significant economic challenges. Here, we…
The Central Bank of Nigeria (CBN) has reported a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year, a significant recovery from the deficits of $3.34 billion in 2023 and $3.32 billion in 2022. This announcement was made in a statement by Sidi-Ali Hakama, the Acting Director of Corporate Communications at…
The Federal Government has clarified that its naira-for-crude initiative with local refineries is not a temporary solution but a crucial policy aimed at promoting sustainable local refining. Officials stated that the initiative is still operational and will resume immediately, countering the previous decision made by the NNPCL under former CEO Mele Kyari, which had suspended…
Nigeria’s external debt service obligations reached $1.08 billion in the fourth quarter of 2024, marking a notable increase from the previous quarter. This information was revealed by the Debt Management Office (DMO) in its latest report. According to earlier data from the DMO, Nigeria’s total debt service costs rose to N3.57 trillion in the third…
By Ajibola Olarinoye Introduction Modern business operates at a rapid rate where technology stands as a fundamental requirement for enterprise success. The operational framework of businesses transformed through Artificial Intelligence (AI) technology which delivers innovative solutions for better operational productivity. The implementation of AI technology by Nigerian business operators between eighteen and thirty years old…
