WEMA Bank Plc has announced the successful completion of its N150 billion Rights Issue, which opened on April 14, 2025, and closed on May 21, 2025. The exercise has received formal approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). This Rights Issue was undertaken in response to the…
In its 2025 edition, Forbes ranked 3,028 billionaires worldwide, collectively holding a staggering $16.1 trillion in wealth. However, only 23 Black billionaires made the list, representing just 0.8% of the global elite, with a combined net worth of $96.2 billion. These Black billionaires have carved out their fortunes through industries such as finance, energy, technology,…
Economist and Managing Director of Financial Derivatives Limited, Bismarck Rewane, has projected that the naira would trade within N1,600-N1,650 to a dollar in the near term. Rewane said this during his presentation at the June edition of the Lagos Business School Breakfast session. The analysts who did a mid-term economic review of the current administration…
Following the greenback’s decline, one euro was worth $1.1276, while the US currency dropped heavily against the British pound. The dollar slid one per cent versus the euro on Monday after a downgrade to a key US credit rating that triggered worries about the nation’s debt pile. Following the greenback’s decline, one euro was worth…
In a significant development, the naira on Tuesday appreciated to N1,618 per dollar at the parallel market from N1,620 per dollar on Monday. But, the Naira depreciated to N1,604 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate for the…
The Nigerian electricity sector slowed in the fourth quarter of 2024, with the electricity production index declining by 1.64% year-on-year. Data from the Central Bank of Nigeria says this marks a reversal from the 5.55% growth recorded in the third quarter of 2024 (Q3 2024). Average estimated electricity generation, according to a Channels TV report…
The landing cost of Premium Motor Spirit, also known as petrol, was N1,117/litre as of Tuesday, July 16, 2024, the Major Energies Marketers Association of Nigeria announced on Wednesday. MEMAN disclosed this during a webinar with journalists on Wednesday. The association revealed that the landing cost of diesel was N1,157/litre, while that of aviation fuel…
An AI tool could decipher text — including passwords — from keystroke sounds recorded over Zoom and be right over nine times out of ten, a group of researchers said in a paper published on August 3. AI can steal passwords from keystroke sounds recorded over Zoom with up to 93% accuracy, per a new…
The Independent Petroleum Marketers Association of Nigeria said the price of Premium Motor Spirit, popularly known as fuel would continue to increase as long as the US Dollar rose in the foreign exchange market. Chinedu Okoronkwo, the National President of IPMAN, disclosed this to DAILY POST exclusively while reacting to speculation of further fuel pump…
The National Economic Council (NEC) meeting is being held at the Council Chambers of the State House in Abuja on Thursday. The meeting, which is being chaired by the Vice President Kashim Shettima, has in attendance governors of the 36 states of the Federation, the Director General of the Nigerian Governors’ Forum, as well as…
