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Wednesday, August 13, 2025

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Manny Akpan | Business & Economy Editor

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Skyrocketing Fuel Prices: Nigerians Groan Under the Harsh Economic Climate

LAGOS, Nigeria - The removal of fuel subsidies in Nigeria has left its citizens grappling with skyrocketing fuel prices, leading to a widespread lifestyle...

Tesla’s Tumble Dethrones Musk, Bernard Arnault Reclaims Richest Man Title

NEW YORK, USA - According to the latest Forbes billionaire index data, Elon Musk, the 52-year-old maverick CEO of Tesla, has been ousted from...

A Bruising Drop: Elon Musk’s Fortune Tumbles $20.3 Billion as Tesla Cuts Prices

NEW YORK, USA - Tesla CEO Elon Musk's wealth fell severely on Thursday, July 20, 2023, as his fortune plunged by $20.3 billion. This came...

Nigerian Marketer Takes Lead in Deregulated Oil Sector with $17 Million Petrol Shipment

LAGOS, Nigeria — Emadeb Energy Services Limited, an oil marketer, has become the first to seize opportunities in Nigeria's deregulated downstream oil sector, importing...

Nigeria’s Exchange Rate Rise Triggers Global Airfare Adjustments

ABUJA, Nigeria — Airfares on international routes are set to adjust again as Nigeria’s exchange rate rises. The International Air Transport Association, IATA, has notified...

Nigeria’s Central Bank Clamps Down, Revokes 2,698 Bureau de Change Licenses

ABUJA, Nigeria — The Central Bank of Nigeria, CBN, dramatically curtailed the number of authorized Bureau de Change, BDC, dealers on Wednesday, July 19,...

Privacy First: Norway Prohibits Meta from Harvesting Personal Data for Ads

OSLO, Norway - Norway's data protection authority, Datatilsynet, has banned Meta Platforms, the parent company of Facebook and Instagram, from using personal user information...

ChatGPT Creator OpenAI Under Federal Investigation Over Possible Harm to Consumers

WASHINGTON DC, USA - The US's Federal Trade Commission (FTC) has initiated an investigation into OpenAI, the artificial intelligence startup behind ChatGPT, over allegations...

Maritime Industry: NLC Confronts GMT Nigeria over Alleged Anti-Labour Practices

ABUJA, Nigeria - The Nigeria Labour Congress, NLC, has formally accused GMT Nigeria Limited, a prominent Maritime firm, of engaging in a series of...

Central Bank of Nigeria Adds Local Currency to International Money Transfer Options

ABUJA, NIGERIA — The Central Bank of Nigeria, CBN, has issued a directive to International Money Transfer Operators, IMTOs, stating that domestic beneficiaries can...

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