Connect with us


Business

CBN injects $197.71m to boost forex liquidity

Published

d3b27ab3 b348 433d 9680 554d1a898ad4

On Friday, the Central Bank of Nigeria (CBN) sold 197.71 million dollars to authorised dealers in the foreign exchange market.

The apex bank’s Director of Financial Markets Department, Dr Omolara Duke, disclosed this in a statement on Saturday in Abuja.

She noted that the intervention aligned with the apex bank’s ongoing commitment to ensuring adequate liquidity and supporting orderly market functioning.

According to Duke, the move reflects the CBN’s broader objective of fostering a stable, transparent, and efficient foreign exchange market.

Advertisement

She said the decision was largely influenced by recent movements in the FX market, driven by the announcement of new U.S. tariffs and declining crude oil prices.

“The CBN has observed recent fluctuations in the foreign exchange market between April 3 and April 4.

These are reflective of broader global macroeconomic shifts currently impacting several emerging markets and developing economies.

“These developments stem from the recent announcement by the United States government of new import tariffs on goods from several economies, triggering a period of adjustment across global markets,” she said.

Duke further said that crude oil prices had dropped by over 12 per cent, falling to approximately 65.50 dollars per barrel, introducing new challenges for oil-exporting nations like Nigeria.

Advertisement

She said that the CBN would continue to monitor both global and domestic market conditions.

She expressed confidence in the resilience of Nigeria’s foreign exchange framework, which is designed to adjust to evolving economic fundamentals.

“All authorised dealers are reminded to strictly adhere to the principles outlined in the Nigerian FX Market Code and uphold the highest standards in their dealings with clients and market counterparties,” she said.


Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business

Fedan & Fil Brand: 30 Decades of Excellence, innovation & impact

Published

on

fbe7b257 8aa4 4a75 b25a 6f22c18d8196

How a Legacy Company is Redefining the Future of Energy, Electronics, and Everyday Essentials

In an age where companies rise and fall with the speed of trends, Fedan & Fil Brand stands as a rare exception—a legacy built not just on products, but on purpose. With an astonishing three decades of sustained growth, the company has evolved from a modest trading outfit in Lagos to one of Nigeria’s most trusted names in electricals, phone accessories, solar solutions, and everyday tech essentials.

Founded in the early ’90s, Fedan and Fil Brand emerged during a pivotal time in Nigeria’s industrial landscape—when the need for reliable electrical solutions met the rise of entrepreneurial resilience. Over the years, the company grew its national footprint, becoming a household name in the distribution of high-quality electrical and mobile accessories, while earning the trust of retailers and end users alike.

Now celebrating 30 years of excellence, Fedan is not only looking back with pride—but forward with bold ambition. As Fedan & Fil Brand enters its fourth decade, it is no longer just a distributor—it’s becoming a platform for innovation, inclusion, and impact. While Lagos remains the heartbeat of Fedan’s operations, the company has its sights set on nationwide market penetration. The goal is to build a lean but expansive sales engine—one that brings Fedan’s trusted products into every home, office, and market across Nigeria. With strategic investments in infrastructure, research, and digital distribution, the company is preparing to scale beyond Nigeria, exploring opportunities in Ghana, Cameroun and Senegal. “We’ve served Nigeria faithfully for 30 years,” says the CEO Mr Stephen Chinemelum. “Now we’re ready to serve the continent.”

Advertisement

From powering homes to lighting dreams, Fedan is not just in the business of electronics—it’s in the business of possibility. Fedan and Fil Brand’s 30-year story is one of grit, grace, and growth. But more than anything, it is a story of trust and transformation. As new products enter the market and new territories open up, the company remains rooted in the values that started it all: quality, integrity, and innovation. But what truly sets Fedan apart is its ability to evolve. “Legacy doesn’t mean being stuck in the past,” says CEO, Mr Stephen Chinemelum, “It means building a foundation strong enough to carry innovation into the future.”

To meet the demands of a growing and increasingly tech-savvy Nigerian market, Fedan is investing heavily in distribution infrastructure and warehousing capacity. These infrastructure investments are not just operational upgrades—they’re strategic moves that position Fedan to become a dominant force in West African trade logistics.

From smart solar inverters to multi-port fast chargers built for African power grids, Fedan’s new line of products is designed, tested, and refined locally. The company recently unveiled a Solar Innovation Lab to prototype clean-energy solutions that work in real-world Nigerian conditions.

“We’re not just distributing products anymore—we’re designing products for Africa, in Africa,” says Daniel/Greatness Chinemelum

Fedan’s partnerships with global manufacturers and local tech talent have enabled them to develop: Shock-resistant phone accessories tailored to rugged terrain, Weather-proof solar lamps for off-grid communities, Modular electrical kits for low-income urban housing. This push into homegrown innovation is not only expanding product categories—it’s setting a new benchmark for Afrocentric design and functionality.

Advertisement

As part of its growth strategy, Fedan is curating a bold, diversified product catalog under the Fil Brand label—one that meets the needs of both everyday Nigerians and emerging middle-class tech consumers.

New product segments include: Lifestyle Tech: Bluetooth speakers, wireless earbuds, smart home connectors, Power Solutions: Solar-powered generators, UPS backups, rechargeable bulbs, Personal Accessories: Anti-theft backpacks, ergonomic phone holders, car chargers, Smart Home Essentials: Motion-sensor lighting, automated sockets, and remote control fans.

With over bold catalogue of products, Fedan is clearly on a mission to transform the everyday consumer experience.

#FeaturedPost

Advertisement

Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels
Continue Reading

Business

Theatre broadway style comes to Lagos “The Jewel” brings futuristic musical theatre to Eko Hotel this Easter

Published

on

IMG 3816

Eko Hotel and First Bank have partnered to dazzle theatre enthusiasts this Easter weekend as the hotel’s convention center transforms

read more Theatre broadway style comes to Lagos “The Jewel” brings futuristic musical theatre to Eko Hotel this Easter


Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels
Continue Reading

Business

Fully-integrated browser AI, Aria, is now available to millions of Opera Mini users in Nigeria, without extra data costs

Published

on

f10175cc 10b0 4738 b147 ef7c14379345

  • Opera Mini, with over 100M users worldwide, now offers AI integration in the browser

  • According to Opera survey, 89% of Nigerians are interested to try an AI tool integrated in the browser 

  • Opera Mini now provides all its smartphone users with its own free built-in browser AI, Aria, including AI chat, Ask Aria and image generation, responding to the demand of 86% of Nigerians to use AI from a trusted brand

  • 59% of Nigerians say data is too expensive, so Opera offers its users free data packages in Nigeria to allow people to browse more, and Aria is a part of that offer 

  • As a response to data costs surge in Nigeria, Aria is available within Free Data offerings, so users will minimize their data usage when exploring AI 

Opera is adding its free browser AI, Aria, to Opera Mini, its popular Android-based browser with millions of users in Nigeria. This update brings powerful AI capabilities, such as up-to-date information from the web, research assistance, content summarization, and image generation directly into the browser at no additional cost. 

AI is rapidly becoming an integral part of the daily internet experience, and we’re seeing a great interest in AI solutions among Nigerians, so bringing Aria to Opera Mini is a natural addition to our most-downloaded browser. With the integration of our built-in AI, Aria, we’re excited to explore how AI can further enhance the feature set our Nigerian users rely on every day, said Jørgen Arnesen, EVP Mobile at Opera. 

Opera Mini is known and appreciated for numerous unique features – from live football scores to the built-in digital wallet MiniPay, and now – also Aria. 

Addressing data costs – a priority for Nigerian users

While internet access is becoming increasingly more available for Nigerians, nearly 55% of the country’s population still don’t have web access. Moreover, the cost of the internet is unproportionally high compared to the income or GDP per capita.  Recently, data costs in Nigeria have surged even further, by 40-50%, due to new local communications regulations and tariffs. Some data plans such as 15GB rose from ₦4,500 to ₦6,500, and 20GB plans – from ₦5,500 to ₦7,500. According to an Opera survey from March 2025, 59% of Nigerians said data is too expensive, and more than half (55%) reported they regularly run out of data before the end of the month: data consumption remains a key concern in the country. 

For years, Opera Mini has played a key role in enabling internet access across Nigeria. Opera Mini’s turbo data-saving mode can reduce data usage by up to 90% compared to other major browsers. For the past three years, Opera has saved Nigerians an equivalent of $27M in data (60M GB) through this unique data compression technology. The free data campaigns, active since 2020, allow Nigerians using Opera Mini to benefit from 1.5GB each month for free, which can be used for anything, including interacting with Aria. Since 2022, Opera has invested millions of dollars in free data campaigns in Nigeria, bridging the digital divide and ensuring information access.

Advertisement

With Aria integrated into Opera Mini, users get the benefits of an advanced AI tool without sacrificing precious data. Aria is optimized for minimal data consumption and is included within Opera’s free daily data bundles in Nigeria — making it an ideal solution for the 46% of Nigerians who said they would use AI tools only if they didn’t add to data usage. 

Aria – Opera’s native built-in AI 

Aria browser AI integrates into Opera’s browsers on both desktop and mobile to enable an accessible chat-based interface to AI. It enhances user interaction through information retrieval, text or code generation, image generation and understanding. Aria is powered by Opera’s own Composer AI engine, which utilizes both OpenAI and Google AI technologies to provide the most relevant answers, and it integrates image generation through Google’s Imagen3 fast model. With today’s update, Aria is now available across all Opera browsers. For the 47%* Nigerians surveyed who already use AI tools several times a day, and for the 67% who rely on AI for academic purposes, Aria within Opera Mini offers a way to make those experiences even more accessible and affordable. Aria is completely free to use.

There are more exciting and unique features coming to Opera Mini soon – and some of those are being built for football fans across Nigeria! 

To use Aria in Opera Mini, download or update via the Google Play Store. 

About Opera Mini

Launched in 2005, Opera Mini is a small, fast, and powerful browser. It comes with unique features such as Data Compression, Offline File Sharing, and a built-in ad-blocker. Today, Opera Mini has been downloaded over 1 billion times on the Google Play Store by people who chose it over the pre-installed browsers on Android mobile devices. Opera Mini has a 4.6 star rating on Google Play and has been reviewed by more than eight million people worldwide.


Join Our WhatsApp Group

Don’t miss out on any real-time information. Join our WhatsApp group to stay updated.

CLICK HERE TO JOIN


Advertisement

* Find more information on Opera Blogs

#FeaturedPost


Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels
Continue Reading