Tinubu ordered Defence Minister Matawalle to relocate to Kebbi after 24 schoolgirls were abducted, citing his past experience, and postponed foreign trips.
Garri prices have dropped sharply nationwide as abundant cassava harvest boosts supply, easing consumer pressure while Nigeria’s inflation continues to fall.
The board of Spanish bank Sabadell on Tuesday rejected larger national rival BBVA's improved hostile takeover bid as 10 days remain for shareholders to make a final decision. BBVA raised its takeover offer by 10 percent last week, but Sabadell said its board had met on Tuesday and, "taking into account all the terms and characteristics of the offer, rejects the offer".
About 10 African countries, including Nigeria, have labeled some of the countries facing debt exposure to the International Monetary Fund (IMF) as of July 19, 2024.
The naira has maintained its strong rally against the US dollar in the official and black markets, rising to N1,476 per dollar in the official forex window.
European Central Bank chief Christine Lagarde said Tuesday US tariffs had not hit the eurozone as badly as feared, but warned new risks could lie ahead in an uncertain world. After bringing rates down from record highs, the central bank has held them steady at its past two meetings, and most analysts do not expect a change soon. sr/jsk/rmb
Spotify co-founder Daniel Ek will step down as CEO on January 1 and become executive chairman, handing the reins to two of his deputies in a leadership shake-up, the music streaming giant said Tuesday. "In my role as executive chairman, I will focus on the long arc of the company and keep the board and our co-CEOs deeply connected through my engagement," Ek said. jll/lth
The EU on Tuesday cleared Italian fashion label Prada's 1.25-billion-euro ($1.5-billion) purchase of rival Versace after finding the acquisition raised no competition concerns. The European Commission said it concluded the purchase "would not raise competition concerns, given the companies' limited market positions resulting from the proposed transaction".
US President Donald Trump on Monday set a slate of tariffs for lumber imports to go into effect October 14. In a proclamation, the White House imposed a "10 percent global tariff on imports of softwood lumber."
Equities rallied for a second day and gold hit another record Tuesday on growing Federal Reserve interest rate optimism, though traders were preparing for a possible US government shutdown that could affect the release of key economic data.
US startup Anthropic on Monday announced the launch of its new generative artificial intelligence model, Claude Sonnet 4.5, which it says is the world's best for computer programming. In a key benchmark, Claude Sonnet 4.5, a new generation of language model, can operate autonomously for 30 hours straight once it is assigned a task.
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