Category: Business
The NGX Banking Index saw another decline for the second time in the month of May. The NGX Banking Index saw another decline for the second time in the month of May. The index points dropped to 345.00 depicting a loss of -1.69%. Technical analysis shows that the bears dominated the trading session from start […]
PayPal currently has 392 million active accounts with net profit in Q1 rising to $1.10 billion. The fintech juggernaut posted impressive growth in its revenues in Q1 bolstered by the growing usage of the digital economy. PayPal stated it had revenues of $6.03 billion in Q1 and earnings per share of $1.22, which outperformed market […]
The Ekiti State government has disclosed a deficit of N1.5 billion for Q1 2021. This was disclosed in the State of the State Accountability Report for Q1 2021 released by the Ekiti State Government on Tuesday. State finances for Q1 2021 For January 2021, the State reported revenue of N4.4 billion and a total recurrent expenditure of […]
Lawmakers allegedly found that ticket racketeering is done by operators of the Abuja and Kaduna railway stations. Legislators in the House of Representatives are set to investigate alleged railway ticket racketeering after Nairametrics uncovered the menace in a special report in March. The House of Representatives resolved to do this after they allegedly found that […]
The goal of a scam website is either to get your personal information or financial information. The emergence of technology didn’t stop at just making daily life easy. It also introduced illicit activities such as scam websites. Scam websites are illegal internet websites used to trick users into sharing their personal or financial data which […]
The director-general of the Budget Office, Ben Akabueze, has lamented that the federal government of Nigeria spends 75 per cent of its yearly budget on salaries and other expenses. Speaking to Bloomberg at a virtual presentation on Tuesday, Akabueze described the trend as worrisome and no longer sustainable, while calling for an amendment of the […]
After the public holiday, Naira weakened again against the U.S. dollar at the investors and exporter window of the foreign exchange market on Tuesday. According to data posted on the FMDQ Security Exchange window where forex is officially traded, Nigeria currency closed at N411 at the trading session on Tuesday compared to N410 it traded to the […]
Samsung has regained its top global spot as the tech giant shipped more smartphones in Q1 of 2021 than any other brand. Samsung has regained its top global spot as the tech giant shipped more smartphones in Q1 of 2021 than any other brand. According to the counterpoint, global smartphone shipments rose 20% YoY in Q1, 2021 […]
One of the sacked board members of First bank OF Nigeria, Mrs Ibukun Awosika, has taken to social media to react to the Central bank of Nigeria (CBN) sacking. Ripples Nigeria had reported on Thursday, that CBN removed the Boards of Directors of First Bank of Nigeria Limited and the FBN Holdings Plc for making […]
Investors were also jostling for the company’s stocks, causing MTN Nigeria’s stock value to rise by 3.4 percent last week Friday, to end trading for the week at N174.9kobo. So the financials might continue to influence stock movement this week. MTN Nigeria The company is one of the most sought after stocks at the capital […]
Bitcoin price soared high on Monday after Ebay announced it is planning to start accepting the most popular cryptocurrency, as it prepares to join PayPal and Mastercard in receiving the crypto as payment. The Chief Executive Officer of the company, Jamie Iannone, said Ebay is considering exchanging goods for not only bitcoin, but other cryptocurrencies for its […]
The agency would be domiciled in the Office of the National Security Adviser. President Muhammadu Buhari approved the establishment of a National Centre for the Control of Small Arms and Light Weapons(NCCSALW), which is part of the ongoing restructuring of Nigeria’s security architecture to address rising threats and strengthen regional mechanism for the control, prevention […]
Nigeria’s predominantly young tech-savvy population is also the reason cryptos have found widespread acceptance in the country. Cryptocurrency has become very popular among millennials since it became mainstream. Unlike a few years ago when the acceptability of the digital currency was still doubtful, it has now gained sufficient acclaim to qualify for use in making […]
Non-performing loans have increased as commercial banks continue to increase credit in the economy due to the loan-to-deposit policy of the Central Bank of Nigeria (CBN). The policy has been forcing banks to increase loans approved. In an updated communique of the Monetary Policy Committee (MPC) of the CBN, published on Tuesday, it was stated that […]
At the end of the first quarter in 2021, the capital market recorded more domestic participation than foreign, as investors from both side of the divide withdrew N339.06 billion during the period under review. The Nigerian bourse had recorded an increase in transactions which moved from N215.58 billion in February 2021 to N228.49 billion in […]
