Business
Naira Sees First Appreciation Against Dollar Since Last Week
The Nigerian naira saw a rise in value against the US dollar across both official and parallel foreign exchange markets, marking its first appreciation since the previous week.
According to FMDQ data, the naira strengthened slightly to N1,554.65 against the dollar on Thursday, up from N1,561.98 on Wednesday, indicating a gain of N7.33 compared to the previous day.
Similarly, in the parallel market, the naira improved to N1,550 on Thursday from N1,560 the day before.
This positive trend coincided with a foreign currency transaction turnover of $348.82 million on Thursday.
Despite recent depreciation over the past week, the naira’s recent gains suggest a potential stabilization in its exchange rate dynamics.
Skype, once a go-to platform for video and voice calls, is officially shutting down today, May 5, marking the end of its 22-year journey connecting people around the globe. The app was one of the first to revolutionize online communication, offering free calls over the internet long before it became common.
During its prime in the mid-2010s, Skype boasted over 300 million active users each month. Microsoft bought Skype in 2011 for a massive $8.5 billion, planning to make it a key part of its communication tools. However, as newer apps like WhatsApp, Zoom, and even Microsoft’s own Teams grew in popularity, Skype slowly lost its place.
In February, Microsoft announced it would officially shut down Skype on May 5 to focus more on Teams, which now handles most of its communication services. This move affects both free and paid users, although Skype for Business will stick around for a little longer.
Business
United Bank Of Africa, UBA, Delivers 23% Total Dividend for 2024, CEO Promises More to Come
United Bank of Africa, UBA, pays 171 Billion in total to its shareholders for the 79 percent increase for 2024.
This information was revealed during the 63rd Annual General held on the 25th of April, 2025. The UBA shareholders approved of the 3 naira dividend share, which will com bine with 2 naira interim dividend and will represent a 23 percent total dividend for 2024 in total.
It can be noted that UBA now has the highest Nigerian stocks and the CEO, Oliver Alawuba has assured the shareholders of the dividends that will be paid.”What we can assure our shareholders today is that UBA will continue to pay more dividends.”
It has been reported that Economic and Financial Crimes Commission (EFCC), prepares to look into the recent crash of the popular investment platform, CBEX.
It can be recalled that investment platform, CBEX, recently crashed and caused worry for many users. The public to social media to lament about the crash of the platform and cries out due to their losses.
Popular Nigerian blogger, Innocent Tino shares that he will partner with EFCC for a joint investigation of the downfall of CBEX. It was also shared that a total of #1.3 trillion funds have been lost due to the crash.
Nasty Blaq Shuts Down Dating Rumors with Davido’s Cousin, Adenike Adeleke
Actor Okey Bakassi Honoured as King of Umuihuocha Community in Imo State
Ayra Starr Becomes First Nigerian Female Artist to Debut Solo Track on UK Top 100
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