Oil giant ExxonMobil has announced it will invest $1.5 billion in Nigeria’s deepwater oil exploration and development over the next two years. The company said this fresh investment will be …
Economy
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MTN Nigeria Reports N133.7bn Profit in Q1 2025
MTN Nigeria Communications Plc has reported a profit after tax of N133.7 billion for the first quarter of 2025, recovering from a loss of N392.7 billion recorded in the same …
- DevelopmentEconomyEnvironmentGOVERNMENTNigeriaSecurityWestern Africa
Federal Government Shuts Down Illegal Mining Site in Kaduna Using Peaceful Strategy
The Federal Government has shut down an illegal mining site located in Damau, Kubau Local Government Area of Kaduna State. This operation was carried out by the Mining Marshals under …
- Banking, Finance & InvestmentBusinessBusiness InsightsBusiness PoliciesEconomyKenyaKenya NewsPolicies
CBK Warns Kenyan Banks to Cut Lending Rates or Face Heavy Fines
The Central Bank of Kenya (CBK) has warned commercial banks in the country to reduce their lending rates or risk facing serious financial penalties. The warning came from CBK Governor …
- EconomyGOVERNMENTInternational RelationsPoliticsSouth AfricaSouthern Africa
ANC and DA Clash Over Employment Equity Law in South Africa
The African National Congress (ANC) has come out strongly against the Democratic Alliance (DA) for taking legal action against the new Employment Equity Amendment Act, saying the move is against …
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How to Shield Your Business from Naira Volatility in 2025
Introduction In today’s interconnected global marketplace, businesses operating within Nigeria are increasingly susceptible to the unpredictable nature of international currency exchange rates. A particularly significant challenge for Nigerian enterprises is …
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Lesetja Kganyago Warns Against Populist Economic Promises in South Africa
The Governor of the South African Reserve Bank, Mr. Lesetja Kganyago, has spoken out against what he described as the rising influence of populist politicians in South Africa, warning that …
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Nigerian Crypto Companies Face Stricter Rules as SEC Classifies Digital Assets as Securities
The Nigerian Securities and Exchange Commission (SEC) has announced that cryptocurrencies and other digital assets are now officially classified as securities under the new Investments and Securities Act (ISA) 2025. …
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United Capital Records 113% Revenue Growth, Posts N5.9bn Profit in Q1 2025
United Capital Plc, a Nigerian investment banking and financial services firm, has reported a strong start to 2025 with a 113 per cent rise in revenue for the first quarter …
- Banking, Finance & InvestmentBusinessBusiness InsightsBusiness PoliciesEconomyINVESTMENTMarketsNigeriaPolicies
Wema Bank Grows Profit by 270%, Posts N35.8bn in Q1 2025 Amid Strong Interest Income and Cost Control
Wema Bank Plc has reported a strong profit performance in the first quarter of 2025, with profit after tax jumping by 270 per cent to N35.8 billion. This figure is …