World Bank: Diaspora Nigerians Remitted $168 billion in Eight Years.
In the last eight years, the Nigerian Diaspora has sent $168.33 billion to Nigeria, according to data compiled by our…
Month: April 2023
A Nationwide Blackout is Imminent as Energy Drops Below 4,000 MW.
Customers across the nation had a limited supply of electricity over the weekend as power generation to the national grid…
Ioc: Nigeria Lost N2.3tn Revenue to Oil Theft in a Year.
Due to problems with pipeline vandalism and the ensuing oil theft, Nigeria lost the chance to produce and export roughly…
NNPCL: AKK Pipeline Construction Gulped $1.1bn.
According to Mele Kyari, group chief executive officer of NNPC Ltd., the Nigerian National Petroleum Company Limited has already invested…
40% Pay Rise – Crisis Looms in Nigeria Universities.
There are signs that university unions may protest the federal government for allegedly leaving their members out of the 40…
Sudan War: The Only Viable Exit for Nigerians Is By Road – Government.
The federal government declared Friday night that a road evacuation of Nigerians from the war-torn Sudan was the only practical…
Criterion Africa Partners Completes Investment in Merensky Timber.
Merensky Timber, one of the top integrated timber product companies in Africa and a fully owned subsidiary of Hans Merensky…
AFC Equity Investment to Buy Ghana-focused Aker Energy.
Aker Energy, the owner of the Pecan oilfield off the coast of Ghana, will be purchased through a deal mediated…
Raxio Secures $170m Funding for Data Center Rollout in Africa.
To aid in its expansion throughout the continent, pan-African data center developer Raxio Data Centres has obtained a debt arrangement…
DPI Acquires ex-Louis Dreyfus Company Solevo.
Development Partners International (“DPI”), an investment business with a focus on Africa, has acquired Solevo Group (“Solevo”). It’s a major…
In One Week, Investors Lost N304 billion.
The market capitalization lost N304 billion to end the week at N27.963 trillion, and the All-Share Index decreased by 1.08…
USA Donates $5.7 million to Aid Nigeria.
Nigeria will receive $5.7 million in assistance from the United States of America to oversee elections. This was stated in…
Nigeria Currently Owes the World Bank 6 trillion.
Nigeria moved up the list of the top 10 International Development Association borrowers due to increasing debt. Except for Nigeria,…
FG: IOCs Moved $21bn Investments to Other Countries.
According to the Federal Government, between 2014 and 2022, the majority of foreign oil corporations that work in Nigeria’s upstream…
NBS Set to Release Unemployment Rate in May.
By May 2023, the National Bureau of Statistics will present updated employment and unemployment rates for the nation. In a…
Lagos Paid retirees N50billion in Four Years.
According to Mrs. Ajibola Ponnle, Commissioner for Establishments, Training, and Pensions, Lagos paid its retirees N50bn during a four-year period.…
Eight Banks Earn N225 billion from E-banking Fees.
As cashless transactions increased to N395.47tn in 2022, eight banks made N224.69bn from electronic banking fees. Data analyzed from the…
FG Gives the NSITF Infrastructure Upgrade Concession a N15 billion Approval.
The second phase of the computerized Nigeria Social Insurance Trust Fund, which will allow concessionaires to enhance the infrastructure for…
Insecurity: Local Rice Price Increased by 200%
The price of one kilogram of local rice has increased by 211.52% in seven years as a result of rising…
FEC Approves N142bn e-Customs Project.
Notwithstanding rumors of an existing court injunction prohibiting it from moving forward with the project, the Federal Government in Abuja…
Union Bank’s Earnings Increase by 19%.
According to Union Bank of Nigeria Plc, its total earnings increased by 19% to N208. 2 billion in the 2022…
FAAC: Allocation Decreases as FG, States, and LGs Split N715 billion.
According to the Federal Account Allocation Committee, in March 2023, N714.63 billion was distributed across the three levels of government.…
CBN: Currency in Circulation Rises by 71% to N1.6tn.
After the Central Bank of Nigeria changed its stance on the redesign of the naira, the amount of currency in…
Leadway Assurance: Implements Security Measures Against Hackers.
According to Leadway Assurance Company Ltd, it has taken “mitigation steps” after discovering a hacker intrusion in its system that…
What to Expect As CBN Moves To Gather Dormant, Unclaimed Funds.
The exposure draft of rules on the administration of dormant accounts, unclaimed balances, and other financial assets in banks and…
Poll Shows Several British Don’t Want To Pay For Coronation
According to a recent poll that was performed and released on Tuesday, more than half of British citizens do not…
Ex-JAMB Registrar, Ojerinde’s Trial Starts Today for a $6 billion Fraud
Professor Dibu Ojerinde, a former Registrar of the Joint Admission and Matriculation Board, and his four children are on trial…
Netflix Hits 232 million subscribers.
Netflix on Tuesday said that its number of subscribers hit 232.5 million in the first quarter of this year and…
EPayments Reach N49.4 Trillion, With 40% of Failed Transactions Unresolved
According to CIO, we have handled more than 60% of ePayment issues. Although banks owe telcos over N100 billion in…
Fox News will pay Dominion $787.5 million as part of a defamation settlement following false election claims.
A defamation complaint including false accusations that Dominion Voting Systems’ software was involved in manipulating the 2020 U.S. presidential election…