Tension gripped the federal capital territory (FCT), Abuja, after bandits abducted several people. Legit.ng gathered the attack sparked fear among residents.
The Federal Government has reopened the YEIDEP 2025 portal, offering Nigerian youths aged 18–35 grants of N50,000 to N500,000 with required documents.
A man who allegedly torched two vehicles at a Tesla dealership and painted "Die Elon" on the side of the building has been hit with federal charges, the US Department of Justice said Monday. If convicted of the two counts of malicious damage or destruction of property by fire or explosives, he could be jailed for up to 20 years on each count, the Department of Justice said.
Goldman Sachs reported Monday higher first-quarter profits on strength in equity trading, offsetting a hit from losses in investments on public stock markets. Revenues tied to equity trading soared 27 percent from the year-ago level, with Goldman benefiting from strong demand for its services to facilitate trading and providing financing to clients trading stocks.
Nvidia on Monday announced plans to build top-end artificial intelligence supercomputer chips entirely in the United States for the first time. "The engines of the world's AI infrastructure are being built in the United States for the first time," Nvidia chief executive Jensen Huang said in the blog post.
Argentina's currency dropped 8.4 percent against the US dollar as markets opened in Buenos Aires Monday, after the partial lifting of exchange controls in place for six years. "Everyone is waiting to see what happens," a trader told AFP. There are fears that loosening exchange controls could fuel inflation, which has dropped under Milei from 211 percent in 2023 to 118 percent last year.
Beijing on Monday warned against "politicising" the rescue of Chinese-owned British Steel, as the UK government raced to secure raw materials to keep the country's remaining steelmaking blast furnaces running. He added the government is "confident in securing the supply of materials needed" to keep running the two blast furnaces at the plant -- the last in the UK which makes steel from scratch.
According to Dr. Dele Alake, Nigeria's Minister of Solid Minerals Development, U.S. tariffs may benefit African economies by encouraging intra-African trade.
After deporting over 200 Nigerians from the US, the Department for Homeland Security is going after more foreign nationals, and has announced heavy penalties.
With oil revenues falling and the naira under renewed pressure, economists are warning of deeper macroeconomic challenges ahead. Naira has depreciated again.
Keep in mind that the government is also set to commence direct flights to other countries like Tunisia and Algeria, as part of measures to deepen bilateral ties.
Economy
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