Jeff Bezos has revealed plans to sell 25 million Amazon shares worth nearly $5bn after a record high market valuation.

Nigeria’s electricity discos have announced an increase in tariffs for Band A customers from N206.80/kWh to N209.50/kWh, effective July 1.

The NUPRC has finalised regulatory processes for Eni and Equinor’s assets sales.

Shettima has kicked off the implementation process of a project designed to combat poverty and catalyse sustainable economic growth.

FMO and FCMB have signed a $25 million NASIRA guarantee, aiming to boost SMEs and support agri-tech innovation in Nigeria.

Afreximbank has reported that Intra-African trade grew to 14.9% of total African trade in 2023, up from 13.6% in 2022.

Access Holdings is set to raise N351 billion through Rights Issue, aiming to enhance working capital and facilitate growth.

The European Union has commended Nigeria for offsetting $850 million debt to foreign airlines, boosting foreign trade outlook.

Nigeria’s finance ministry has exempted small companies, unincorporated bodies with Tax ID and transactions under N2 million from new regulations.

Meristem Securities’ Head of Investment Research has urged Nigeria to address fiscal imbalance and prioritise sustainable revenue for debt reduction.

Nigeria received $3.38 billion in foreign investments in Q1 2024, a 210% increase from Q4 2023, with Lagos leading.

CBN Governor Cardoso says Non-Bank Financial Institutions present a unique opportunity to quicken regional integration and shared economic prosperity.

Nestoil’s Azudialu-Obiejesi has stressed the need for Nigeria to establish a credible contract bidding process to develop oil industry capacities.

A rocket stage from Beijing Tianbing Technology’s Tianlong-3 detached during a test and landed in a hilly area without casualties.

SERAP has criticised CBN’s alleged financial violations, saying it has undermined its ability to fulfill statutory roles and public trust.

World Bank says Nigeria received $19.5 billion in Diaspora remittances in 2023, 35% of sub-Saharan Africa, although declining 2.9% year-on-year.

NESG has endorsed CBN’s decision to end FX Price Verification System, citing removal of regulatory bottlenecks and boost to macroeconomic stability.

CEO Schneider ssys Nestle expects stable growth from Q2 onwards, overcoming cost inflation and sales volume challenges.

Amazon is investigating Perplexity AI for scraping content without permission, amid accusations of plagiarism and fake quotes.

Core inflation rose 0.1% from April to May, the smallest increase since 2020, leading to potential Fed rate cuts in September.