The cycle of financial heartbreak continues as Nigeria grapples with yet another Ponzi scheme collapse, with digital asset platform CBEX joining a notorious list of fraudulent ventures that have drained billions from desperate investors. The latest casualty, CBEX, allegedly vanished with over ₦1.3 trillion after halting withdrawals in April 2025, leaving victims many of whom
As US-China trade relations continue to face significant challenges in early 2025, China has intensified its economic engagement with Nigeria and other emerging economies. This strategic pivot comes as Chinese companies encounter increasing barriers in American markets, prompting Beijing to diversify its international trade partnerships. Recent data reveals that trade volume between Nigeria and China
International Breweries Plc (IBPLC), part of the AB InBev Group, has reaffirmed its strong commitment to sustainable water management through a series of impactful initiatives marking World Water Day 2025. The company showcased its dedication to responsible water stewardship across its four breweries, emphasizing innovative conservation efforts and community engagement. Carlos Coutiño, Managing Director of
The Federal Inland Revenue Service (FIRS) has identified poor data quality and inadequate information sharing among government agencies as major factors contributing to significant revenue losses. While FIRS recorded a commendable ₦21.6 trillion in revenue collection for 2024 and set an ambitious target of ₦25.2 trillion for 2025, the agency acknowledges that gaps in data
The Lagos State Government (LASG) has disclosed that residents of the state collectively spend an estimated N14 trillion every year on fuel to power approximately 4.5 million generators used in homes, markets, and small businesses. These generators consume about 16 billion litres of fuel annually, with an average cost of around N900 per litre, underscoring
In a major boost to Nigeria’s healthcare landscape, the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, alongside the Governor of Lagos State, Mr Babajide Sanwo-Olu, on Monday commissioned a cutting-edge 50-bed medical facility in Surulere, Lagos. The ultra-modern hospital, developed by Dr Awele Elumelu, Chairperson of Avon Healthcare and wife of
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised the alarm over potential losses in the downstream oil sector, following what appears to be the beginning of a new wave of petrol price reductions led by private operators. This comes in the wake of SGR, an independent marketer, slashing its pump price to N899
OPPO Nigeria has officially launched the A5 Pro, a rugged and high-performance smartphone designed to meet the demands of outdoor enthusiasts, gamers, and entertainment seekers. The device was unveiled in Lagos on April 11, 2025, marking a significant expansion of OPPO’s product line in the Nigerian market. Key Features of the OPPO A5 Pro: Durability:
Goldman Sachs has once again demonstrated its financial prowess, exceeding analysts’ profit expectations for the first quarter of 2025. The banking giant reported earnings per share (EPS) of $12.57, significantly surpassing the consensus estimate of $11.87. This robust performance was bolstered by a 3.9% rise in quarterly revenue, showcasing the firm’s ability to navigate market
Africa is on the cusp of a significant transformation in its energy landscape, with several high-profile events and initiatives bringing together stakeholders to discuss and shape the continent’s energy future. These gatherings highlight the urgent need for sustainable energy solutions, regional integration, and innovative financing strategies to address Africa’s energy challenges. Key Events and InitiativesMission
