Author: Olu Anisere

Truecaller Crosses 100m Monthly Active Users in Middle East, Africa Truecaller has crossed 100 million monthly active users in the Middle East and Africa, according to an official statement released by the company. The leading global platform for verifying contacts and blocking unwanted communications reached a significant milestone in August on both Android and iOS. The platform highlighted that the number of monthly active users crossed 100 million in the MEA region, representing a 19% year-on-year growth. “With the Middle East and Africa experiencing significant growth in smartphone adoption and mobile data adoption, we’re really happy that we’re able to…

Govt Reveals 99% of Enugu’s Informal Sector Doesn’t Pay Taxes The Chairman, Enugu State Internal Revenue Service (ESIRS), Mr Emmanuel Nnamani, says that 99 per cent of the informal sector in the state does not remit taxes to government coffers. Nnamani disclosed this during a Media briefing on Thursday in Enugu while reacting to reports on the social media that the state government imposed taxes outside the law. He denounced the allegation of imposition of arbitrary levies, stating that taxes and revenues in Enugu State remained within the limits of the law. He described circulating report on social media regarding…

NIHSA Issues Flood Alert for 32 States, 832 Communities The Nigeria Hydrological Services Agency (NIHSA) has issued a fresh flood alert for 198 LGAs across 32 states and the FCT. The agency warned of high to very high flood risks between Aug. 7 and Aug. 21. The alert, with reference No: 32-25-003-06, was issued by NIHSA Director General, Mr Umar Ibrahim on Thursday, following rising river levels and persistent rainfall across the country. NIHSA warned that over 100 communities and major transportation routes may experience severe disruptions during the forecast period. The affected states include; Adamawa, Akwa Ibom, Anambra, Bauchi,…

Diesel Blockage: Telecoms Operators Alert Nigerians to Network Disruption Nigeria’s telecoms operators have expressed concern and warned that blocking the supply of diesel to network sites could soon cause major service problems across the country. Mr Gbenga Adebayo, the Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), made this known in a statement on Thursday in Lagos. Adebayo noted that workers from two major oil unions, the Nigerian Union of Petroleum and Natural Gas Workers and the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) have stopped diesel trucks from loading fuel at depots in Kaduna,…

Ghana Sees Rapid Fall in Selling Prices as Cedi Rally – PMI Companies in Ghana’s private sector lowered their selling prices at a sharp and accelerated pace in July as costs for purchases decreased at the fastest pace on record following a recent appreciation of the cedi, details from July purchasing manager index (PMI) released by S&P Global revealed. According to the index, falling prices helped to support strong confidence in the outlook for business activity, but signs of a softening in current demand meant that July saw output decrease slightly for the first time in six months. The S&P…

Bitcoin Trades at $114,000 as Cryptocurrency Rally Fades Bitcoin (BTCUSD) trades at $114,000 level on Wednesday as cryptocurrency price movements reflect a fading rally across exchanges. The top 10 cryptocurrencies have seen sharp price fluctuation, with Bitcoin facing price correction. The largest crypto asset by market price and valuation has been fluctuating with less than 0.02% upside in the last one hour and down by 0.01% on the day due to some retail selling pressures. Based on trading data from CoinMarketCap.com, all the major cryptocurrencies have experienced downward movement in the last 24 hours, reflecting volatility spurred by weak buying…

Saudi Aramco’s Profit Falls by 22% on Lower Oil Prices Saudi Aramco reported a 22% decline in net profit for the second quarter of 2025, as lower crude oil prices and weaker refined product prices continued to weigh on the energy giant’s earnings. According to its earnings report, the company registered a net income of $22.67 billion (85.02 billion riyals) in Q2, compared to $29.07 billion (109.01 billion riyals) in the same period a year earlier. Total revenue and other sales-related income fell to $108.6 billion (407.1 billion riyals), from $114.6 billion (429.6 billion riyals) in the first quarter. The…

AfDB Approves $46m to Transform Healthcare in Sokoto State The African Development Bank Group (AfDB) Board of Directors has approved a $46 million loan to finance the Sokoto State Health Infrastructure Project, a transformative initiative designed to enhance healthcare access and quality in Nigeria’s Sokoto State. The project addresses critical health system gaps in Sokoto, where key indicators reflect a critical need for intervention. Only one in 20 children is fully vaccinated, while infant mortality stands at 104 deaths per 1,000 live births, nearly double Nigeria’s national average of 63. Less than 14 percent of health facilities in the state…

Nigeria’s Price Inflation Eases to Weakest Since May 2023 – PMI With an employment rate reaching a 21-month high, Nigeria’s selling price inflation rate eased to the weakest level since May 2023, according to the Stanbic IBTC purchasing manager index (PMI) report released by S & P Global on Friday. The PMI stated the start of the third quarter saw a pickup in growth momentum in the Nigerian private sector. Rates of expansion in output and new orders accelerated, leading to a sharp rise in purchasing activity and the fastest increase in employment since October 2023. Firms were helped to…

Banking Stocks Drive Midday Rally in Equity Market Banking stocks are driving midday rally in the equity market after the local bourse reported a huge capital appreciation that lifted value of listed companies above N88 trillion. Bargain hunting persisted during intraday session on Thursday amidst earnings releases and interim dividends declarations. Investors are opening positions across banking names, and some industrial stocks are also making uptrend. Stockbrokers said buying interest in expected to continue as yields in fixed income market fell amidst high interest rate environment. Based on pattern, companies earnings have been impressive given that many listed entities are…