MTN Nigeria reported a loss of N400.44 billion after tax for the year ending December 31, 2024, primarily due to the devaluation of the naira, which increased foreign exchange losses and negatively impacted the company's earnings.  This loss, revealed in the company's audited financial statements on Thursday, marks a 192% increase from the N137.02 billion loss recorded in 2023. The...

The naira was strengthened to 1,494.03/$ at the official window on Thursday, according to data from FMDQ Securities Exchange Limited. Similarly, an appreciation to 1,510.00/$ was recorded in the parallel market, reducing the spread between the two markets to 15.5/$. The gap between the official and parallel foreign exchange rates has been narrowing due to various policies implemented by the...

The Nigerian Presidency and former Kaduna State Governor, Nasir El-Rufai, clashed again on Tuesday over allegations that the Federal Government is behind the internal crises and multiple litigations troubling opposition parties. El-Rufai made these claims during his visit to the headquarters of the Social Democratic Party (SDP) in Abuja. A video of the meeting has since gone viral across social...

Jumia’s liquidity position improved to $133.9 million, helped by net proceeds from an at-the-market offering in August 2024. This reversed a decline of $106.9 million recorded in 2023. Net cash flows used in operating activities also showed improvement, reducing to $57.2 million from $73.0 million in the previous year. According to Jumia, key usage metrics improved in the fourth quarter,...

Speculation is growing over the health of Pope Francis as the Vatican remains unusually silent following his recent hospitalization at Gemelli Hospital in Rome. Concerns have intensified as the 87-year-old Pontiff has not made any direct public appearances or statements since his last social media message on Sunday.   Just days ago, Pope Francis shared words of gratitude on X,...