Nigeria Leaders Receive N651m Hardship Allowance.
According to research, state governors, including vice president Yemi Osinbajo, may have received around N651.2 million in hardship payments over the course of the last eight years of the Buhari…
CBN: Debt Servicing Hits $112m Monthly.
The Federal Government spent $112.35 million in January 2023 repaying external debt. According to information from the Weekly International Payments report published by the Central Bank of Nigeria, the amount…
UN: Trade is Crucial for Implementing the 2030 Agenda.
Guy Ryder, the Undersecretary-General for Policy in the United Nations Secretary-General’s Executive Office, claims that trade is a crucial strategy for carrying out the 2030 Agenda. He claimed that a…
Otedola Fumes Over Transcorp Deal.
Femi Otedola, a multibillionaire businessman, claimed on Tuesday that his offer to pay N250 billion for the Nigerian giant Transnational Corporation Plc was turned down. Weeks after acquiring interests in…
KCB Group Modifies its Investment in NSSF.
The National Social Security Fund (NSSF) sold shares valued at Sh837.2 million in the three months prior to December, according to earlier disclosures from KCB Group, which has since changed…
CBN Penalizes Shipping Companies that Export Illegal Cargoes from Nigeria.
CBN Governor, Godwin Emefiele, while speaking at the RT200 non-oil export summit 2023 in Abuja with the theme “RT200: Challenges and Prospects,” said the development of the non-oil export sector…
Seplat is Mandated to have an Annual General Meeting by the Court.
The annual general meeting of the local energy company Seplat Energy Plc has been mandated by an Abuja-based Federal High Court. Akinnifesi & Adelaja V. Seplat Energy Plc, case number…
The NCC Approves the Lease of NTEL’s Spectrum to MTN.
MTN Nigeria is given permission by the Nigerian Communications Commission to lease spectrum from Natcom Development and Investment Limited. The deal, which affects 19 states nationwide, enables the telecommunications business…
Fashola Reports that 383,431 Jobs were Created in Six Years.
Fashola said that from 2016 to 2022, 383,431 jobs were created through the government’s infrastructure renewal, with jobs being generated through the installation of 254,690 road signs, the construction of…
FG Orders Private Aircraft to Leave Abuja International Airport.
Prior to the new government’s anticipated May 29, 2023,inauguration, the Federal Airport Authority of Nigeria has ordered the immediate transfer of all aircraft stationed at the General Aviation Terminal of…
IMF Cautions Nigeria that Foreign Loans will Decrease.
Nigeria has been forewarned by the International Monetary Fund to prepare for a substantial decrease in foreign loans as the world economy continues to undergo new shocks and contractions. Chen…
CBN’s ‘RT200’ Strategy Increases Fund Repatriation by 40%, According to Emefiele.
Godwin Emefiele, the governor of the Central Bank of Nigeria, claimed that the bank’s ‘Race to USD200bn In FX Repatriation’ campaign has increased foreign exchange repatriation into the country by…
Vantage Capital Buys Promamec Stake in Secondary Deal
A significant minority stake in Promamec will be acquired by Vantage Capital, the largest mezzanine fund manager in Africa, through the signing of legal documents. This will allow the private…
Nigerian payment Startup Nomba Revealed it Secured $30 million in Pre-Series B Funding.
Base10 Partners, based in San Francisco (investors in Nubank, Plaid, and Brex), led the investment, which also included Helios Digital Ventures, Shopify, Partech, and Khosla Ventures. With the additional capital,…
Reps Query NCC Over Multi-billion Naira USPF Projects.
The Nigerian Communication Commission (NCC) has been questioned by the House of Representatives regarding 1014 projects funded by the Universal Service Provision Fund (USPF), including an e-Library project that cost…
Transcorp Power Receives a Discharge Certificate from Osinbajo.
According to Vice President Yemi Osinbajo, meeting Nigeria’s growing energy needs would require “serious” private sector investment in the country’s power industry. The company was discharged one month after the…
Dangote Refinery Set to Launch May 22nd.
There is new hope for Nigeria to increase its capacity for domestically refined fuel by 103.34 million liters per day as President Muhammadu Buhari is set to officially open the…
Eight Banks Report Loan Losses at N502 billion.
Eight banks reported N502 billion in net impairment charges in 2022, in an effort to lessen the adverse effects of Ghana’s debt crisis and other factors on their risky assets.…
Purchasing Power Falls as FG Slams New Tax Law.
The federal government recently adopted a new tax law that was included in the 2023 Fiscal Policy measures and has been criticized for having the potential to “worsen the economic…
Nigeria is Ready for Cashless Policy Due to Mobile Transaction Increase.
Economists interpret the recent surge in mobile transaction volumes as a sign that Nigeria is poised for a cashless economy. This comes after Nigeria’s Interbank Payment System (NIBSS) recorded a…
Nigeria, Others Need $7.5 billion to Deepen LPG Usage.
According to the African Refiners and Distributors Association, replacing charcoal with clean cooking gas, also known as liquefied petroleum gas, will cost Nigeria and other African nations around $7.5 billion…
Nigerian Oil Production Falls for First Time in Seven Months.
Nigeria’s crude oil production fell by 38,102 barrels per day in March, a cumulative monthly loss of about 1,181,162 barrels, marking the first drop in oil production in seven months.…
FG Advances Biometric Technology to Stop Illegal Mining.
The federal government, through the Ministry of Mines and Steel Development, stressed that collecting biometrics of registered artisanal and small-scale miners could reduce the rate of illegal mining and smuggling…
NIMC: E-identity is Critical to the Digital Economy.
A strong and secure e-identity system is crucial, according to Aliyu Abubakar, Director-General of the National Identity Management Commission, in order to improve digital infrastructure and encourage financial inclusion. The…
UN Mobilizes N38 Billion for Nigeria’s Agriculture Sector .
In order to enhance Nigeria’s agriculture industry from 2023 to 2027, the United Nations will work with the federal and state governments, as well as multilateral and unilateral contributors, to…
Nigeria’s World Bank Borrowing Hits $14.34 Billion In Q1 – Report.
Nigeria’s borrowing from the World Bank has reached $14.34 billion as of March 31, 2023. This is up from its $13.93 billion debt recorded by the Debt Management Office as…
Guideliness for Contactless Payment Systems will be Released by the CBN.
According to the Central Bank of Nigeria (CBN), guidelines will soon be released to encourage the effective and safe usage of contactless payments throughout the nation. The apex bank claims…
CBN will Provide Rules for Contactless Payments.
According to the Central Bank of Nigeria (CBN), guidelines will soon be released to encourage the effective and safe usage of contactless payments throughout the nation. The apex bank claims…
Dangote Announces Date For Commissioning Of Multi-Billion Refineries
On May 22, President Muhammadu Buhari is anticipated in Lagos to officially open the Dangote Refinery.On Sunday, Bashir Ahmad, the president’s special assistant for digital media, tweeted about the development.…
Lagos-Ibadan Expressway: FRSC Issues Traffic Alert For Travellers
In response to a traffic accident that occurred on the Lagos-Ibadan expressway on Sunday, the Federal Road Safety Corps (FRSC) advised drivers to consider using alternate routes. This information was…