The Central Bank of Nigeria (CBN) absorbed over N3.57 trillion. Within three days as deposit money banks placed surplus funds in the Standing Deposit Facility (SDF). The SDF allows banks to store excess cash overnight at an interest rate of approximately 22.8%, according to FMDQ. An analysis of CBN’s financial data from Tuesday, February 17…
ARM Investment Managers Ltd has declared cash distributions for the second half of 2025 for the MoFI Real Estate Investment Fund (MREIF). Investors in Series I receive N3.75 per unit, while Series II investors set to earn N9.7192 per unit. The announcement made through a corporate actions notice filed with the Nigerian Exchange (NGX) on…
The Accountant-General of the Federation (AGF), Dr. Shamseldeen Ogunjimi, announced that 30% of the 2025 Capital Budget implemented by the end of November. Warrants have already issued to Ministries, Departments, and Agencies (MDAs) to begin execution. Dr. Ogunjimi shared this update during a stakeholders’ meeting. On the extended 2025 Capital Budget implementation, held at the…
Veteran Nigerian singer, Beautiful Nubia, has accused fellow musicians Yinka Ayefele and BBO of copyright infringement. In a post shared on X (formerly Twitter). The folk artist alleged that both musicians copied the melody of his original song, “Seven Lifes.” He specifically pointed out that Yinka Ayefele’s 2012 track, “My Faith in God (Igbagbo Ireti). And BBO’s recent…
Janarious Wheeler, better known as Lil Poppa, has tragically passed away at the age of 25. The Fulton County Medical Examiner in Georgia confirmed his death on Wednesday. February 18, at approximately 11:20 a.m. local time, as reported by TMZ. Authorities have stated that the cause of death is still under investigation. Just five days before…
Nigeria’s foreign exchange reserves have climbed to $48.5 billion, marking their highest level since May 2013. This growth signals a steady rebuilding of the country’s external financial buffers. Recent data from the Central Bank of Nigeria (CBN) shows that the current reserve level is the strongest since May 14, 2013, when reserves stood at $48.51…
U.S. President Donald Trump recently made headlines for praising rapper Nicki Minaj during the Black History Month Reception at the White House. While speaking at the event in Washington, D.C., Trump complimented the Young Money artist, calling her “beautiful” and expressing his admiration. “How about Nicki Minaj? Do we love Nicki Minaj? I love Nicki,”…
Three men in Algeria have arrested after a bizarre attempt to illegally cross into Spain went hilariously wrong. Reports say the trio tried to sneak across the border by hiding in a truck full of livestock. Their plan? Dress up as sheep and blend in with the animals. But their clever disguise didn’t fool border…
Young women leading African startups are encouraged to apply for the AI Ventures Accelerator. This program offers selected teams $10,000 in equity-free seed funding, along with mentorship and skill-building opportunities. About the Initiative The accelerator organized by Technovation and Generation Unlimited. It aims to empower young female innovators by supporting technology-driven solutions and enhancing entrepreneurship…
Nigerian music star Davido recently shared a heartfelt message he received from an Indian man he met during a previous trip. The man, named Govind Kadak, worked as a butler at a hotel where the artist stayed about a year ago. In his message, Govind revealed that meeting the singer had a profound impact on…
