Equities Market Gains N60bn as Oil and Telecom Stocks Rally

Equities investors recorded a significant gain of over ₦60 billion on Tuesday as oil and telecom stocks staged a strong rally, reversing the week’s earlier losses. The Nigerian Exchange (NGX) closed on a positive note, with key performance indicators advancing by 0.10% and the year-to-date return climbing above 31%.

She Wins Africa: Female Founders Shine at AESIS2024, Showcasing Innovation Across the Continent

The 11th annual Africa Early Stage Investor Summit (AESIS2024) took center stage with an inspiring showcase of eight trailblazing female founders. These dynamic entrepreneurs, selected from the VC4A Venture Showcase - She Wins Africa edition, pitched transformative solutions addressing critical challenges in agriculture, fintech, e-commerce, and health to an audience of over 300 investors, ecosystem leaders, and delegates during the highly anticipated Deal Morning.

Muvmnt Studio Unveils "BB Uncovered" Podcast Honoring Dr. Biodun Shobanjo’s Legacy

Muvmnt Studio hosted an exclusive cocktail event to launch “BB Uncovered: An 80-Year Odyssey”, a star-studded podcast series celebrating the life and legacy of Dr. Biodun Shobanjo, a pioneering figure in African marketing and business leadership.

Tinubu Appoints Shamseldeen Ogunjimi as Acting Accountant General

President Bola Tinubu has named Mr. Shamseldeen Ogunjimi as the Acting Accountant General of the Federation (AGF), effective immediately. The appointment follows the pre-retirement leave of the outgoing AGF, Dr. (Mrs.) Oluwatoyin Madein.

Trump Appoints David Sacks as Crypto and AI "Czar"

Incoming President of the United States, Donald Trump has named former PayPal COO David Sacks as the new "czar" for cryptocurrency and artificial intelligence (AI). The announcement was made via Trump’s Truth Social platform on Thursday. "David Sacks will work on a legal framework to provide the crypto industry with the clarity it needs to thrive in the U.S.," Trump wrote.

Bitcoin Surpasses $100K as Crypto Market Cap Approaches $3.7T

Bitcoin has surged back above the $100K mark, driving the cryptocurrency market cap to nearly $3.7 trillion. After dipping to $98,000 on Friday, Bitcoin experienced a strong rebound, following news of U.S. president-elect Donald Trump’s appointment of David Sacks as his artificial intelligence and crypto czar—a move that highlights the administration’s focus on advancing these rapidly evolving industries.

GitLab Appoints Bill Staples as New CEO

GitLab, a leading platform for developers and security, has announced the appointment of Bill Staples as its new Chief Executive Officer, effective immediately. This leadership change marks an important step in the company's growth as it continues to innovate in the tech industry.

Tax Reforms to Drive Nigeria's Growth and Development, Minister Affirms

In the face of ongoing debates surrounding Nigeria’s tax reform bills, the Minister of Information and National Orientation, Mohammed Idris, emphasised that President Bola Tinubu’s push for tax system overhauls is designed to strengthen, not undermine, democracy.

TikTok Faces Potential U.S. Ban After Losing Legal Battle, Sale Deadline Set for January 2025

TikTok has lost its legal challenge to a United States law that could lead to the platform’s ban in the United States. On Friday, a U.S. appeals court upheld the law, rejecting TikTok’s claim that it violated the First and Fifth Amendments. The court’s ruling means TikTok could face a ban unless its Chinese parent company, ByteDance, agrees to sell the platform to a non-Chinese entity by January 19, 2025. Failure to meet this deadline could result in significant fines for U.S. app stores and internet services hosting the app. The law does allow President Biden to extend the deadline once.

AfDB, DBSA, and Institutional Investors Partner to Launch Africa’s Multi-Originator Synthetic Securitization Platform

African Development Bank (AfDB), the Development Bank of Southern Africa (DBSA), and leading institutional investors—including Academy Securities, Africa50, and Newmarket—signed a Letter of Intent to explore the creation of a groundbreaking multi-originator synthetic securitization platform at the recently held Africa Investment Forum Market Days 2024 in Rabat, Morocco.

The Dawn Project Celebrates Environmental Advocacy with 2024 Award Ceremony

Over 25 winners and student ambassadors were celebrated at the prestigious 2024 The Dawn Project Competition Award and Prize Giving Ceremony, recently held at the British Deputy High Commission in Lagos. The event recognized exceptional student contributions in art and awarded the first-ever School Ambassador with The Dawn Project’s Badges of Recognition.

Nike to Wind Down RTFKT, Its Digital Fashion Brand, by January 2025

Nike is set to shut down RTFKT, the Web3-focused sneaker brand it acquired in 2021, with plans to wind down operations by January 2025. The brand will transition to an archived website to showcase its previous creations.

Nigeria: Banks Set to Implement New Policy on Inactive Savings Accounts

Nigerian deposit money banks (DMBs) have started informing customers about a new policy regarding inactive savings accounts, following a directive from the Central Bank of Nigeria (CBN).