Nigerian Breweries 2023 Annual Report: Navigating Challenges with Strategic Moves Despite N106 Billion Loss. Key Highlights: Revenue surges by 9%, showcasing resilience amidst economic challenges. Operating profit declines by 15% due to increased input costs and economic pressures. Expansion…
Nigeria’s Investment Landscape Flourishes with 66.27% Surge in Foreign Capital Inflows in Q4 2023. In the fourth quarter of 2023, Nigeria experienced a remarkable increase in capital inflows, soaring by 66.27% compared to the preceding quarter. This surge, from…
Are Dating Apps Like Tinder and Hinge Exploiting User Addiction for Profit? On Valentine’s Day, Match Group, the parent company of popular dating apps like Tinder and Hinge, found itself embroiled in a potential class-action lawsuit. The lawsuit alleges that…
Ademola Adebise Unveils Memoir: A Journey from Tech Savvy Innovator to Bank CEO. In a grand event held in Lagos, the former Managing Director/CEO of Wema Bank Plc, Mr. Ademola Adebise, introduced his memoir to an illustrious audience, encompassing…
Coping with Nigeria’s Tough Economy: Loan App Dependency Surges as Lenders Face Non-Performing Loans. In light of Nigeria’s challenging economic climate, an increasing number of individuals are turning to digital loan apps to alleviate financial strain. However, this surge…
FIRS Confirms No Tax Plans for Online Content Creators and Skit Makers. The Federal Inland Revenue Service (FIRS) has reassured that it has no intentions of imposing taxes on online content creators, including skit makers. In a recent statement…
Nigeria’s Foreign Reserves Hit All-Time Low at $24 Billion in 2024, IMF Reports. In its latest update, the International Monetary Fund (IMF) has highlighted Nigeria’s concerning decline in foreign reserves, plummeting to a record low of $24 billion in…
MultiChoice Resolves Tax Dispute with FIRS, Agrees to $37.3 Million Settlement MultiChoice Group (MCGJ.J), the leading pay TV conglomerate in Africa, announced on Thursday the resolution of a tax dispute with Nigerian tax authorities, resulting in a settlement payment of…
Operating Airlines in Nigeria: IATA Highlights High Costs and Trapped Funds. The International Air Transport Association (IATA) has brought attention to the considerable challenges faced by airlines operating in Nigerian airports, citing them as among the most expensive in…
Nigerian Treasury Bills Rate Surges to 19% Annually in CBN’s Bid for Exchange Rate Stability. In a significant move indicative of a shift towards a more stringent monetary policy, the stop rates for Nigerian Treasury Bills (TBs) have soared…
Mobile Money Operators Processed Record N46.6 Trillion Transactions in 2023, Reports NIBSS. In a recent report by the Nigeria Inter-Bank Settlement Systems (NIBSS), licensed mobile money operators, including prominent names like OPay and Palmpay, facilitated transactions totaling N46.6 trillion…
Nigerian Government Aims for 214% Surge in Oil Sector PPT Revenue in 2024. The Nigerian Federal Government has set an ambitious goal for 2024, eyeing a remarkable 214% increase in Petroleum Profit Tax (PPT) collections from the oil sector.…