Author: Ifetayo Adeniyi

Manny Ita  – AfriStakes, a newly launched capital platform, has officially entered the Nigerian market with the goal of connecting African SMEs to a wider pool of investors and improving access to funding across the continent. The platform was created to address a long-standing challenge in Africa’s business environment: many SMEs struggle to raise capital not because opportunities are lacking, but because of weak structure, poor investor readiness, and difficulty matching with suitable investors. At the same time, large amounts of capital remain underutilised or concentrated in traditional assets like fixed deposits and public equities. AfriStakes positions itself as a…

Manny Ita  – Fitch Ratings has projected that Nigeria’s external reserves will decline to about $47 billion by the end of 2026, even as the country continues economic and monetary reforms aimed at stabilising its foreign exchange market. In its latest outlook, Fitch affirmed Nigeria’s Long-Term Foreign Currency Issuer Default Rating (IDR) at ‘B’ with a Stable Outlook, citing the country’s large economy, improving monetary policy framework, and relatively liquid domestic debt market as supporting factors. Despite recent gains in reserves, Fitch expects some pressure ahead due to rising external obligations and fiscal demands. The agency noted that gross reserves…

Manny Ita  – Segun Agbaje, CEO of Guaranty Trust Holding Company (GTCO), has disclosed the group’s three most profitable non-banking subsidiaries in 2025 during its FY 2025 investor call. According to him, the top-performing non-banking businesses were fintech, asset management, and pensions, which have become key contributors to GTCO’s earnings beyond traditional banking operations. Within these segments, GTCO’s fintech arm, HabariPay, led with a profit of about N9.7 billion, followed closely by Guaranty Trust Fund Managers (asset management) with roughly N9 billion. Guaranty Trust Pension Managers contributed about N4.7 billion. Agbaje noted that the strong performance of these subsidiaries reflects…

Manny Ita – US President Donald Trump has publicly criticised Pope Leo XIV in a series of posts on Truth Social, describing him as “weak” on crime and “terrible” on foreign policy. The remarks were part of a late-night online statement that also included an AI-generated image of himself depicted in a religious scene. According to the posts, Trump also responded to recent comments made by Pope Leo XIV regarding global conflicts, particularly tensions involving Iran and the United States. The Pope had previously described rhetoric suggesting the “destruction of civilisation” as unacceptable and called for dialogue and peace. In…

Manny Ita  – Used car importers in Nigeria have said the newly introduced Vehicle Conformity Assessment Programme (VehCAP) is unlikely to significantly increase car prices, despite tighter inspection and certification requirements. VehCAP is a regulatory framework introduced by the Standards Organisation of Nigeria (SON) and the National Automotive Design and Development Council (NADDC). It is designed to ensure that all imported vehicles and auto parts meet safety and quality standards before entering the country. The policy, which operates under the slogan “No Certification, No Entry,” requires vehicles to undergo pre-shipment inspection and certification in their country of origin before being…

Manny Ita  – Nigeria is expected to sign a $25 billion intergovernmental agreement with Morocco before the end of the year for the development of a major trans-African gas pipeline project. The disclosure was made by Amina Benkhadra, head of Morocco’s hydrocarbons and mining agency, who confirmed that the African Atlantic Gas Pipeline will span approximately 6,900 kilometres across both offshore and onshore routes. The pipeline is projected to transport up to 30 billion cubic metres of gas annually, with about 15 billion cubic metres allocated to Morocco and exports to Europe. The project is expected to enhance economic integration…

Manny Ita – The 3rd Nigeria Entertainment and Economic Roundtable is holding today, April 14, at the Nicon Luxury Hotel, bringing together policymakers and key stakeholders in the creative industry. The event is expected to culminate in the signing of a landmark Memorandum of Understanding with the National Bureau of Statistics aimed at institutionalising data collection and tracking within Nigeria’s creative economy. Participants at the roundtable include government officials, industry leaders, and representatives from various segments of the entertainment sector. Discussions are focused on addressing longstanding gaps in reliable data, which stakeholders say have hindered effective policy formulation, investment planning,…

Manny Ita  – UK-based Casha Technologies has expanded into Nigeria, introducing a new banking solution that enables users to carry out financial transactions without requiring an internet connection. The technology allows customers to perform instant payments and access basic banking services even in areas with limited or unreliable data connectivity. This development is seen as a significant step toward improving financial inclusion, particularly in underserved and rural communities where internet access remains inconsistent. Industry observers note that the innovation could help bridge the gap between traditional banking and digital finance by making services more accessible to a broader segment of…

Manny Ita  – A new film by Iyabo Ojo, Return of Arinzo, has set a new benchmark at the Nigerian box office, grossing ₦104.8 million in its opening weekend to become the highest-grossing Easter debut in Nollywood history. The film’s strong performance reflects growing audience demand for locally produced cinema, particularly during peak holiday periods. Industry analysts attribute the record-breaking opening to a combination of star power, effective promotion, and increasing cinema attendance across major urban centres. Cinema operators report that the film drew large crowds throughout the Easter weekend, outperforming previous holiday releases and setting a new standard for…

Manny Ita  – Nigerian designer Damilola Sanni is at the forefront of a growing fashion movement known as “Heritage Fusion,” which blends traditional Nigerian weaving techniques with contemporary high-end streetwear. The trend reflects a broader shift within the fashion industry, where cultural identity and craftsmanship are being reimagined for modern global audiences. Sanni’s designs incorporate indigenous fabrics and handwoven textiles into urban silhouettes, creating pieces that resonate with both local and international markets. Fashion observers note that the movement is gaining traction on global fashion circuits, with increased interest from buyers, stylists, and cultural curators seeking authenticity and originality in…