Business
Jumia Reports 25% Revenue Drop in Q2, Operating Losses Rise to $20 million
Jumia, Africa’s leading e-commerce platform, reported a significant drop in revenue and increased operating losses for Q2 2024. The company’s revenue fell 25...
Court Nullifies Sale of Controversial ‘Nigeria Air’ to Ethiopian Airlines, Tells FG To Stop Plans
A Federal High Court in Lagos has nullified the sale of a 49 per cent equity stake in Nigeria Air to Ethiopian Airlines....
Newly Appointed PenCom Director Was Reportedly Sacked By First Bank Over N40bn Fraud
According to an exclusive report by Tech Cabal, over 100 employees were sacked in July 2024 over an N40 billion fraud engineered by...
Kaduna Electric Cuts Power to Govt. House For N2.9bn Debt, After Govt. Agency Closed Its Office Over Tax
Kaduna Electricity has cut power supply to the Kaduna State Government House and other state facilities due to unpaid bills totalling N2.9 billion....
FCCPC Hits Coca-Cola, NBC with Final Warning For Misleading Product Labelling
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a regulatory warning to Coca-Cola Nigeria Ltd and the Nigerian Bottling Company (NBC)...
Delta Air Lines To Sue CrowdStrike, Microsoft For Over $350 Million Loss Caused By Recent Outage
Delta Air Lines has disclosed that it is seeking compensation from CrowdStrike and Microsoft following a significant software outage that disrupted operations on...
Following SIM Card Blocking Protests, MTN Nigeria Announces Nationwide Closure Of Its Offices On Tuesday
MTN Nigeria has announced the closure of all its offices across the country on July 30th, following widespread protests from subscribers affected by...
House of Reps Orders Reversal of Electricity Tariff Hike Ahead of Nationwide Protest
The House of Representatives has directed the Nigerian Electricity Regulatory Commission (NERC) and Electricity Distribution Companies (DISCOs) to revert to the old electricity...
TotalEnergies Exits Two South African Gas Fields
TotalEnergies has announced its withdrawal from two offshore gas fields in South Africa due to economic challenges. Block 11B/12B and Block 5/6/7 are...
Nigerians Call Out Telcos For ‘Sabotaging Planned Protest By Restricting Internet Access, Using NIN As Excuse’
Nigerians have accused telecommunication companies of disconnecting subscribers to frustrate the #EndBadGovernance protest against economic hardship in Nigeria. The planned protest, which is...
H1 2024: Nigeria’s Vehicle Imports Drops By 60% Due To Naira Volatility, High Customs Duties
The importation of vehicles into Nigeria dropped by 60 per cent in the first half of 2024, primarily due to high exchange rates...
H1 2024: Dangote Cement Reports 85% Pre-tax Profit, Struggles With +118% YoY Increase In Production Costs
Dangote Cement Plc has announced a pre-tax profit of N292.9 billion for the first half of 2024. This marks a 22 per cent...