Money
10 Sep 2024
The federal government, through the National Centre for Artificial Intelligence and Robotics (NCAIR), has launched a N100 million AI Fund aimed at supporting Nigerian startups leveraging Artificial Intelligence (AI) to develop innovative solutions. The initiative, backed by tech giant Google, is part of the Ministry of Communications, Innovation & Digital Economy's strategic programs to harness…
9 Sep 2024
Despite the economic crisis ravaging Nigeria as a result of high inflation and forex volatility, the country generated N2.47 trillion from
6 Sep 2024
The Central Bank of Nigeria (CBN) has approved the sale of $20,000 to each Bureau De Change (BDC) operator at an exchange rate of N1,580 per dollar, aiming to increase forex liquidity and meet the growing market demand. The announcement was made in a statement signed by Dr. W.J. Kanya, Director of the Trade &…
6 Sep 2024
Africa’s leading payments technology firm, Flutterwave, has announced the appointment of Mitesh Popat as the company’s Chief Financial Officer (CFO). Popat brings 20 years of global financial services experience across North America, Europe, the Middle East, and Africa, which will be instrumental in driving Flutterwave’s next phase of growth and financial sustainability. Most recently, he…
5 Sep 2024
The recent collapse of $Jota Coin has cast doubt on the legitimacy of cryptocurrency projects in Nigeria, with experts warning of an increase in scams and false promises of quick riches. The $Jota Coin, launched by popular skitmaker Chukwuebuka Amuzie, also known as Brain Jotter, reportedly failed. Experts stated that there are indications of the…
2 Sep 2024
LAPO Microfinance Bank has bolstered its leadership team with the appointment of Mr. Joshua James Etopidiok as a Non-Executive Director. M
1 Sep 2024
A Federal High Court in Abuja has issued subpoenas to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, and the Head of its Legal Services Department to appear before it on Monday, September 2, 2024, with specific documents related to the money laundering case against Binance Holdings Limited and its executives. The…
29 Aug 2024
The Securities and Exchange Commission (SEC) has announced that it has granted "approval-in-principle" to two digital asset exchanges, allowing them to commence operations under the newly introduced Accelerated Regulatory Incubation Programme (ARIP). In a statement on Thursday, SEC said the companies approved are Busha Digital Limited and Quidax Technologies Limited. The approval comes after SEC…
29 Aug 2024
The amount of cash held outside of Nigeria's banking system decreased by 3.32 percent in July to N3.66 trillion, indicating a decline from the N3.78 trillion recorded in June. According to data from the Central Bank of Nigeria (CBN, the percentage of currency in circulation held outside banks dropped to 90.39 percent in July from…
29 Aug 2024
On Thursday, African-founded cryptocurrency exchange, Quidax announced that it has become the first crypto exchange to receive a provisional operating license by Nigeria’s Securities and Exchange Commission (SEC) as a Digital Assets Exchange. The license which was presented by the Securities and Exchange Commission grants Quidax the permission to operate as a registered crypto exchange…
27 Aug 2024
LAPO Microfinance Bank Limited has announced the appointment of Angela Eneze Omeiza as an Independent Non-Executive Director, effective July 17, 2024. LAPO, in a statement on Tuesday, August 27, 2024, said Omeiza brings a wealth of experience and expertise to the Board, further strengthening the bank's commitment to excellence in Governance and Social Responsibility. Ms…
21 Aug 2024
Fidelity Bank PHOTO: Google Earth/Streetview The National Data Protection Commission (NDPC) has fined Fidelity Bank Plc a total of N555.8m for breaching its customers’ data. The commission’s National Commissioner, Vincent Olatunji, said this at the Validation Workshop on the Nigeria Data Protection Act General Application and Implementation Directive on Wednesday in Abuja. Olatunji said the…
2 days ago
Transnational Corporation Plc, Nigeria’s leading listed conglomerate, has announced its financial results for the year ended December 31, 2024. Consistent with its track record, the Group sustained its strong growth trajectory across its financial indicators, reinforcing its market leadership and strategic positioning. In its audited results, Transcorp reported significant year-on-year growth, with a revenue of…
2 days ago
As part of efforts towards achieving clean energy and industrial diversification, the federal government has set a target to ensure that at least 30 per cent of locally produced vehicles in Nigeria are electric. Minister of State for Industry, Trade, and Investment, John Uwan-Enoh, disclosed this yesterday at the unveiling of Africa’s largest locally assembled…
2 days ago
JMG Limited, a leading provider of electro-mechanical solutions in Nigeria, joins the global community in celebrating World Engineering Day for Sustainable Development, emphasising the critical role of engineers in advancing the Sustainable Development Goals (SDGs).
2 days ago
The Nigerian Maritime Administration and Safety Agency (NIMASA) has called on the government of Denmark to advocate for a reduction in war risk insurance premiums on ships bound for Nigerian ports, citing the significant improvements in maritime security in the Gulf of Guinea.
2 days ago
Every year, over 280 million tyres reach the end of their useful life globally, with only a fraction—around 30 million—being retreaded or reused. The remaining 250 million scrap tyres often end up in landfills or illegal dumpsites
2 days ago
No fewer than 30 per cent of Nigeria’s 24 million registered Micro, Small, MediumEnterprises (MSMEs) shut down between 2023 to 2024, the Nigerian Economic Summit Group (NESG) has said.
2 days ago
In commemoration of International Women’s Day, Nestlé Professional, an arm of Nestlé Nigeria, has successfully hosted the 10th edition of its Business of Food workshop in Benin.
2 days ago
A top research and marketing intelligence firm, Stonehill Intelligence & Marketing Limited is reinforcing its commitment to delivering high-quality, data-driven insights to businesses across Nigeria.
2 days ago
Industry leaders, policymakers, and financial experts have called for a more robust fiscal policy framework to enhance the development of gas and other infrastructure in the country.
3 days ago
The Federal Government has launched a national electronic register to give real-time access to information about the assets owned by the government to attract more investments to the country.