Category: Money and Stocks

MultiChoice Nigeria Revenue Falls 44% On Customer Loss

Ganiyu Amodu

MultiChoice Nigeria’s subscription revenue declined by 44 per cent to $197.74m in the financial year ended March 2025, down from $355.93m recorded in the same period a year earlier, as rising inflation and a worsening economic climate triggered a mass exit of subscribers. The sharp revenue drop was driven by “sizeable customer losses in Nigeria as high inflation adds more pressure on consumers,” the company said in its latest financial report. Inflation stood at 23.71 per cent in April 2025, according to the National Bureau of Statistics. The pay-TV provider…

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UNILAG Prof, Tajudeen Yusuf, Underscores Nigeria’s Inadequate Risk Mgt At Inaugural Lecture

Ganiyu Amodu

. Spotlights Ethical Insurance, Takaful Integration As Wayout   The University of Lagos (UNILAG) has held its 13th inaugural lecture in the 2024/2025 academic session at the JF Ade Ajayi Main Auditorium. Platforms Africa reports that the lecture titled, “Risk, Ethics, And The Road Less Taken: Navigating The Journey From Insurance To Takaful,” was delivered by Professor Tajudeen Olalekan Yusuf, a Professor of Insurance and Risk Management at the University of Lagos . Speaking at the event, Prof. Yusuf advocated regulatory reforms, innovation in microinsurance, the integration of Takaful into…

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Banks’ Customers Now Pay N6 Per SMS Transaction Alert

ADEOLA YUSUF

Banks will commence implementing charges for alerts and other short messages (SMS) communications to their customers at the rate of N6 for every SMS transaction with effect from today. This is coming on the heels of the increase in telecommunications rates by telecommunication providers following a nod by the Federal Government. The SMS charges were increased by 50% to N6 from the previous N4 per message. READ ALSO: ‘Effective June 1,’ English FA Bans Transgender From Women’s Football NLC Demands 65-Year Retirement Age For Civil Servants Alaafin Opens Up As…

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CBEX Resumes Operations Amid SEC Ban, N1.2tn EFCC Probe

ADEOLA YUSUF

The Crypto Bridge Exchange (CBEX) trading platform has resumed operations despite the probe launched by the Economic and Financial Crimes Commission (EFCC) over alleged N1.2 trillion digital fraud. The development was disclosed by two traders on Wednesday, who added that the platform announced fresh withdrawal options to restore investor confidence following the infamous crash of the platform. Per the report, CBEX quietly resumed operations, with new users now allowed to register, trade, and withdraw profits amid ongoing investigations by regulatory agencies. It was also gathered that existing investors who have…

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‘Nigerians Spend 50.1% Of Income On Food,’ SEID’s 2025 Consumer Outlook Report Reveals Damning Data

ADEOLA YUSUF

Nigeria’s economic landscape is undergoing rapid transformation, with inflation, policy shifts, and global uncertainties, significantly altering consumer behaviour across Africa’s largest country. To critically understand the factors responsible for the changes in consumer behaviour in the country, SEID, a reputable Marketing Communications Firm in Lagos, Nigeria, has launched its first-of-a-kind report titled ‘Nigerian Consumer Outlook Report 2025 (NCOR 2025)’. Platforms Africa reports that the Outlook offers insight into consumer behaviour in one of the continent’s most dynamic markets with xx that can steer international investors in the right direction and…

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Naira Depreciates N1,629/$ In Official Market

ADEOLA YUSUF

The Naira yesterday depreciated to N1,629 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 naira rose to N1,629 per dollar from N1,600 per dollar last week Friday, indicating N29 depreciation for the naira. READ ALSO: NCDMB’s Ezeobi Authors Nigeria’s First Book on Local Content Strategic Communication MC Oluomo’s Successor At Lagos NURTW, Tafa Sego, Escapes Assassination IGP Makes U-Turn, Withdraws Invitation To Emir Sanusi Supreme Court Sacks Abure As Labour Party Chairman…

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Obama Slams Trump Over Media Crackdown, Tariffs, Others

ADEOLA YUSUF

Former United States President Barack Obama has criticised some recent actions of President Donald Trump, accusing the current administration of clamping down on the media, targeting political opponents, and threatening institutions that promote diversity and free expression. Obama made the remarks during a conversation with Hamilton College President, Steven Tepper, where he expressed concern over what he described as troubling trends under Trump’s leadership. He particularly faulted the White House’s decision to revoke The Associated Press’s access to key West Wing areas after the news agency refused to adopt the…

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US Federal Reserve Chair Jerome Powell Says Inflation May Last Longer With Tariffs

ADEOLA YUSUF

Federal Reserve Chair Jerome Powell on Friday appeared to back away from a “base case” view that inflation from President Trump’s new tariffs could be transitory, saying that “it is also possible that the effects could be more persistent” as the economy digests “significantly larger-than-expected” trade duties. Trump, at the same time, turned up the pressure on Powell, calling on him to lower rates. “This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image,…

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EcoBank Slams Suit On Otudeko’s Son As 6.3 Billion Shares Showdown Degenerates

ADEOLA YUSUF

  EcoBank Plc has asked the Federal High Court in Lagos to temporarily restrain Otudeko Obafemi Adedamola, the son of Oba Otudeko, and others, including the Corporate Affairs Commission (CAC), from selling or transferring 6,314,116,229 Barbican Capital Limited shares in FBN Holdings. This request was made in a motion accompanying the bank’s main suit, both instituted by Kunle Ogunba (SAN) against Otudeko, Barbican Capital Limited, Honeywell Flourmills of Nigeria Plc, Siloam Global Services Limited, Oyeleye Foluke, FBN Holdings Plc, CAC, and the Nigerian Stock Exchange (NGX). The bank’s lawyer alleges…

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Shamsedeen Ogunjimi, Seven Things To Know About New Accountant General

ADEOLA YUSUF

President Bola Ahmed Tinubu has appointed Shamsedeen Babatunde Ogunjimi as the new Accountant General of the Federation after a rigorous selection process. Here are seven things hitherto not generally known about him. 1. Shamsedeen Babatunde Ogunjimi is 57 years old 2. He hails from Ikorodu in Lagos 3. Ogunjimi graduated from the University of Nigeria, Nsukka, in 1990 with a Bachelor of Science in Accountancy. 4. He also obtained a Master’s in Accounting and Finance from the University of Lagos. 5. He is a fellow of the Institute of Chartered…

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