Meta to Land Two Submarine Cables in Nigeria to Boost Digital Infrastructure
Summary:Meta is set to deploy two submarine cables in Nigeria, with one landing in Lagos and the other in Akwa…
Year: 2023
President Xi Jinping: China Won’t Seek Armed Conflict with Any Nation, Aims for Peaceful Ties
Chinese President Xi Jinping has emphasized that China does not intend to engage in armed conflict with any nation and…
Combating Illicit Financial Flows in Nigeria: The Role of Technology
Illicit financial flows (IFFs) in Nigeria, driven by corruption, tax evasion, money laundering, and illegal trade, have become a significant…
Nigerian Firm X-agon Digital Launches AnyworkX, an E-Service Ordering App, Aiming for Pan-African Presence
X-agon Digital Solutions Limited, an indigenous Nigerian firm, has unveiled AnyworkX, an e-service ordering app designed to connect verified service…
Nigeria’s Inflation Hits Multi-Decade High at 27.3%, Food Inflation at 31.5%
Nigeria’s inflation has reached a new multi-decade high, hitting 27.3% in October, defying global trends. The surge is particularly concerning…
London-based Fintech Due Network Expands to Nigeria, Targeting Cross-Border Payments
Due Network, a global fintech company based in London, has expanded its operations to Nigeria, aiming to tap into the…
Nigeria’s Inflation Persists Amid Global Cooling, Local Factors Cited
While several countries experience a slowdown in inflation, Nigeria continues to see rising prices for goods and services, reaching a…
Visa Cancellation Sparks Calls for Reciprocal Action to Protect Nigerian Carriers
The cancellation of visas for 264 Air Peace passengers by Saudi authorities at King Abdulaziz International Airport-Hajj Terminal Jeddah has…
Nigeria’s Export Prohibition Act Hinders Agricultural Commodities Export Amid Dollar Shortages
Nigeria’s Export Prohibition Act of 1989 is restricting the export of certain agricultural commodities, including yam, cassava, beans, maize, and…
Nigeria’s Headline Inflation Hits 27.33%, Highest in 18 Years, Driven by Soaring Food Prices
Nigeria’s headline inflation has reached 27.33%, marking an 18-year high, driven by surging food prices, particularly for essential items like…
Nigeria’s Rice Imports Cost for 2023/24 May Surpass Total Anchor Borrowers Funding
The United States Department of Agriculture (USDA) projects that Nigeria’s rice imports for the 2023/24 marketing year could exceed the…
New E-Dividend Portal in Nigeria to Be Operational by November 30, 2023, Says SEC
The Securities and Exchange Commission (SEC) in Nigeria has announced that the new e-dividend portal is expected to become operational…
Mini-Grid Leader Husk Power Systems Secures $43M in Equity Investment for Expansion in Nigeria and India
Husk Power Systems, a leader in mini-grid solutions, has secured a $43 million equity investment from STOA, DFC, Proparco, FMO,…
Green Climate Fund Approves $50M Equity Investment in REPP 2 to Boost Renewable Energy in Sub-Saharan Africa
The Green Climate Fund (GCF) has approved a $50 million equity investment in REPP 2, a new debt fund aimed…
CSquared Link Holdings Secures $25M Investment to Expand Broadband Infrastructure in Africa
CSquared Link Holdings, a pan-African technology company focused on digitally connecting Africa through telecommunications infrastructure, has received a $25 million…
Central Bank of Nigeria Reverses Deadline for Withdrawal of Old Naira Notes
The Central Bank of Nigeria (CBN) has announced the reversal of the December deadline for the withdrawal of old naira…
Nigeria Targets Increase in Revenue to GDP Ratio from 8% to 25% by 2026
The Federal Government of Nigeria aims to raise the revenue to Gross Domestic Product (GDP) ratio from 8% in 2023…
ValueJet Aircraft Slips Off Runway at Port Harcourt Airport
An aircraft operated by ValueJet airline experienced a slip on the taxi turn after landing at Port Harcourt airport, clearing…
Nigeria: Oil Firms Increase Gas Flaring, but Penalty Declines in H1 2023
Oil companies in Nigeria increased gas flaring in the first half of this year, with a penalty payment of N36…
Nigeria’s Longest-Dated Bond Reopens, Oversubscribed at Record 18% Yield
The reopening of Nigeria’s longest-dated bond, the 2053 maturity, was oversubscribed more than three times at an auction, drawing total…
Saudi Arabia Cancels Visas of 18 Nigerian Passengers Over Past Offences
Saudi Arabian authorities cancelled the visas of 18 out of the 177 passengers who arrived in Jeddah, Saudi Arabia, on…
BUA Plc Faces Potential Profit Slowdown Amid Forex Challenges and Increased Operating Expenses
Nigeria’s BUA Plc, a cement maker, may experience a slowdown in profit before tax due to factors such as the…
FCCPC CEO Discusses Agency’s Transformation, Advocacy for Patient’s Bill of Rights, and Challenges
In an interview with the Executive Vice-Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera, several key…
NNPC Facilitates Resolution in Total Energies Dispute, Oil Production Restored
The Nigerian National Petroleum Company Limited (NNPC) has successfully mediated a dispute between Total Energies, the operator of the NNPC/Total…
Michigan Healthcare Provider McLaren Confirms Cyberattack Compromised Data of 2.2 Million Patients
McLaren Health Care, a Michigan-based healthcare provider, has confirmed a cyberattack that compromised the sensitive personal and health information of…
Maine Government Confirms Data Breach, Over a Million Affected in Ransomware Attack
The government of Maine has confirmed that over a million individuals had their personal information stolen in a data breach…
Crypto Venture Capital Sees Renewed Interest in Web3 Investments
The crypto venture capital landscape is experiencing renewed interest in web3, crypto, and blockchain technology after several weak quarters. Investors…
Nigeria’s Inflation Projected to Rise for the 10th Consecutive Month to 27.8% in October 2023
Nigeria’s headline inflation rate is projected to rise for the 10th consecutive month to 27.8% in October 2023, according to…
Nigeria Senate to Consider Diaspora Voting Rights During Constitution Review
The Nigerian Senate is set to consider diaspora voting rights as part of the ongoing review of the country’s 1999…
Nigeria’s Crude Oil Production Drops in October, Affecting Foreign Exchange Earnings
Nigeria’s crude oil production declined to 1.56 million barrels per day (mbpd) in October, marking a 0.65% drop from the…