ECB Forward Guidance Is No Longer Working As It Used To
Bloomberg Economics’ model shows that if the European Central Bank had fully bought-in to the transitory inflation narrative, it would respond to a hit to income by loosening monetary policy,…
Federal Government of Nigeria To Use NIN To Identify, Monitor Internet Users In Nigeria – Pantami
The Federal Government has stated that it plans to use the mandatory National Identification Number (NIN) to identify and monitor Internet users in Nigeria. This was disclosed by the Minister…
WhatsApp Launches Scam Messages Awareness Campaign
A text or WhatsApp message from a “friend in need” asking for money or personal information could be a scammer, a new awareness campaign has warned. More than half (59%)…
CBN Urges Nigerians To Embrace E-Naira
The Central Bank of Nigeria (CBN) yesterday called on Nigerians to embrace e-naira, the nation’s digital currency. The Director Corporate Communications Department, CBN, Osita Nwanisobi, made this call at the…
Reps Ask CBN To Recover NNPC’s Funds In Banks
The House of Representatives has sought the intervention of the Central Bank of Nigeria (CBN) over recovery of funds belonging to the Nigerian National Petroleum Company (NNPC) Limited in some…
UBA’s $300 Million Eurobond Oversubscribed
Amid global and domestic challenges, the United Bank for Africa Plc’s (UBA) $300 million Eurobond attracted 1.7 times oversubscription from investors across the globe. The Pan-African bank had on the…
WeChat Bargain Hunters Seek Profits In China Property Bond Rout
In late October, as a growing liquidity crisis across China’s property sector walloped developers’ bonds, a group of Chinese finance professionals got together on the messaging app WeChat to pool…
Biden Signs Legislation To Tighten U.S. Restrictions On Huawei, ZTE
U.S. President Joe Biden on Thursday signed legislation to prevent companies like Huawei Technologies Co or ZTE Corp that are deemed security threats from receiving new equipment licenses from U.S.…
Toshiba Says It Plans To Split Into Three Firms, Rejects Calls To Go Private
Japanese industrial conglomerate Toshiba Corp outlined plans on Friday to break up into three independent companies by spinning off two core businesses – its energy and infrastructure business as well…
Twitter To Launch Dedicated Crypto Team
Twitter is expanding further into the world of cryptocurrencies as the social media giant is setting up a team dedicated to looking into decentralized applications, cryptocurrencies and blockchain. To this…
Flutterwave Acquires Disha, A Creator Platform That Planned To Shutter In February
In February, Disha, a Nigeria-based platform that allows digital creators to curate, sell digital content, create portfolios and receive payments from their audience globally, announced that it was closing shop.…
YouTube Hides Dislike Counts To Protect Creators
In an attempt to make the YouTube platform more hospitable to creators, the virtual content creator platform will no longer show the number of dislikes on videos to help protect…
Equities Extend Losses As Capitalisation Dips Further By N82 Billion
The market capitalisation of listed equities depreciated further by N82 billion yesterday, following the extension of losses on the Nigerian Exchange. Indeed, the All-Share Index (ASI) dropped by 158.02 absolute…
Stock Futures Rise Slightly As Wall Street Looks To Avoid Losing Week Amid High Inflation
Stock futures moved slightly higher early Friday morning as Wall Street looked to end the week on a positive note after a historic inflation report. Futures contracts tied to the…
Xpeng Shares Spike 10% As The Chinese Electric Carmaker Teases New SUV To Launch Next Week
Chinese electric carmaker Xpeng teased a new sports utility vehicle on Friday, with the launch scheduled for next week. The car is likely to be the successor to Xpeng’s current…
Stock Market Sheds N51bn As Investors Take Profits
The Nigerian equities market fell for the second consecutive day on Thursday, with the total market value losing N51.27bn as investors took profits in MTN Nigeria Plc and some other…
FG Planning To Replace Fuel Subsidy With Transport Palliative – Minister
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has described fuel subsidy as a major waste and a drain on the Nigerian economy,saying the government plans to…
FG Makes New N20 Million Investment In Start-Up Ecosystem
The Federal government has pumped N20 million into the Nigerian start-up ecosystem. The investment came through the Nigerian Communications Commission, NCC, which doled out a grant of 5million each to…
Nigeria’s Lending Startup Payhippo Raises $3 Million For SMEs
A lending startup, Payhippo has raised $3 million to support the small and medium enterprises (SMEs) across the continent. Its co-founder and Chief Operating Officer (COO), Chioma Okotcha, said the…
Women Empowerment: Nigeria Firm, 33 Others Among $25M Google Awardees
A Nigerian firm, ImpactHer and 33 organisations from other countries are to receive $25 million grants for creating opportunities that benefit women and girls. The funding to the firms which…
Naira Appreciates Further, Trades N530 A Dollar At Parallel Market
The naira has appreciated further against the dollar at the parallel market on Thursday to trade at N530 per dollar. The figure is N10 or 1.8 percent higher than the…
Dangote’s $500M Cement Refinery At Ethiopia Endangered As Rebel Forces Close In
A cement refinery in Ethiopia belonging to Dangote Group risks being damaged in the ongoing conflict by Tigray rebels and its allies against the Ethiopian government and its allies. The…
ASUS Launches Vivobook 13 Slate OLED
Taiwanese multinational computer and phone hardwares and electronics company, ASUS, on Wednesday, launched the first 13.3″ OLED Windows detachable laptop, which is the Vivobook 13 Slate OLED. The 2-in-1 Windows…
China Ready To Assist Nigeria Boost Export, Industrialisation – Envoy
Cui Jianchun, the Ambassador of the Peoples Republic of China to Nigeria, has said that China was ready to work with Nigeria to develop her value-added industries, boost exports and…
DMO To Auction N150bn FGN Bonds Nov 17
DMO said this in a circular issued on Thursday. It said the bonds will consist of three equal tranches worth N50 billion each. The first tranche is a 10-year reopening…
Deportation Threat – NIS Renews 250 Passports For Nigerians In Kuwait
The Nigeria Immigration Service (NIS) has said 250 passports meant for Nigerians living in Kuwait have been handed over to the ministry of foreign affairs for onward delivery to the…
Nigerian Currency Traders Ask Central Bank For Official Market Access
Nigeria’s bureau de change operators have asked the central bank to consider a framework that will enable them access to foreign currencies at official market rates in an attempt to…
Gold Extends Gains As U.S. Inflation Surges
Gold prices edged higher on Thursday, extending a rally fuelled by a surge in U.S. consumer prices that spurred some demand for the metal as an inflation hedge. Spot gold…