Saturday, October 5

Business

Naira depreciates by 8.24% against dollar at official market

The Naira on Wednesday depreciated at the official market, trading at N1,669.15 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira…

Odu’a Investment honours former chairman, MD

Odu’a Investment Company Limited has celebrated the firm’s former Chairman, Segun Aina, and the former Group Managing Director/Chief Executive Officer, Adewale Raji, for their leadership. They were honoured at a farewell party themed: ‘Celebrating Years of Legacy… A Journey of…

Seven dead in Israeli air strike on central Beirut

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.An Israeli air strike killed at least seven people in a medical facility in the heart of Beirut in the early hours…

Content creators’ payments hit bn in 2023 – Meta

Meta Platforms Inc., the parent company of Facebook, disclosed on Wednesday that it paid over $2bn to content creators in 2023, marking a significant milestone in its monetisation efforts. This announcement coincides with the rollout of Facebook’s new Content Monetisation…

OpenAI poses new investors an intelligence test

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Grappling with the science of artificial intelligence isn’t for the weak of heart. The same is true of investing in OpenAI, the…

Nigerian govt gazettes regulation on withholding tax

The deduction of tax at source (Withholding) regulations, 2024, has been published in the official gazette, Taiwo Oyedele, the chairman of the presidential fiscal policy and tax reforms committee, has said. Mr Oyedele disclosed this via his official X handle…

BOI disburses N77.56bn loans to MSMEs

The Bank of Industry has announced that within the first nine months of 2024, it disbursed N77.65bn in loans to support medium, small, and micro-enterprises. It said the financial assistance has been provided to nearly 1,000 MSMEs across the country,…

Can Labour find a way out of its own Budget traps?

Roger Whitfield, an independent local councillor in the West Country town of Portishead, is waiting anxiously to learn whether chancellor Rachel Reeves will make good on Labour’s investment pledges when she delivers her first Budget later this month.Before the election,…

Ghana to understudy Nigeria’s local content board – NCDMB

The Nigerian Content Development and Monitoring Board on Wednesday signed a Memorandum of Understanding with the Petroleum Commission, Ghana, towards developing and deepening local content regulations in Ghana’s upstream petroleum sector. The signing ceremony took place on the sidelines of…

The tailwinds for a European consumer recovery are building

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is head of European equity strategy and head of global derivatives strategy at UBSCovid really upset the apple cart when…

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