Flutterwave Now Worth Above $3bn After Securing Fresh $250m Funding
Flutterwave says it has raised another $250 million in Series D funding, valuing the company at over $3 billion as the brand continues to transform the way Africans transact on…
Bitcoin Spikes To $44,500 Amid Fresh Warning Over ‘Exceptionally High’ Stocks Correlation
Bitcoin (BTC) passed $44,500 at the Wall Street open on Feb. 15 with traders compounding overnight enthusiasm. Data tracked local highs of $44,543 for BTC/USD on Bitstamp. Already up over…
NRC, firm unveil railway advertising platform
The Nigeria Railway Corporation, in collaboration with B2YB, an advisory and consultancy firm, has launched its advertising platform to promote visibility for brands around train stations. The NRC appointed B2YB…
FG, Ogun distribute free CAC certificates to MSMEs
Federal Government in partnership with Ogun State Government commenced the distribution of free Corporate Affairs Commission certificates. The distribution was targeted towards over 6,500 successful Micro, Small and Medium Enterprises.…
Ericsson Shares Fall 9% On Iraq Corruption Probe
Shares of Ericsson fell 9% on Wednesday after the Swedish telecom gear maker disclosed results of an internal investigation that detailed suspect payments and misconduct in Iraq. The company’s investigation…
Facebook To Pay $90 Million To Settle Privacy Lawsuit
Facebook agreed to pay $90 million to settle a decade-old privacy lawsuit accusing it of tracking users’ internet activity even after they logged out of the social media website. A…
Inflation Hits Louis Vuitton, Price Tags Going Up
Louis Vuitton, LVMH’s top fashion brand, will raise prices globally on Wednesday as a result of increased manufacturing and transportation costs. A spokesperson for the French luxury goods company disclosed…
U.S. Actor Zack Avery Steals $650M From Investors
American actor Zachary Horwitz, professionally known as Zach Avery, swindled investors of $650 million in a huge Hollywood Ponzi scheme. And he used the money to lead a lavish lifestyle,…
Virgin Galactic Stock Rises As Spaceflight Ticket Sales Open With $150,000 Deposit
Space tourism company Virgin Galactic announced Tuesday that it will open ticket sales to the public on Wednesday, requiring a $150,000 deposit. Virgin Galactic ticket prices start at $450,000 each,…
BOI Raises €700m Eurobond To Help Businesses With Financial Supports
The Bank of Industry (BOI) has raised a €700 million eurobond to provide funding for the growth of businesses in Nigeria. According to a statement by Rand Merchant Bank (RMB),…
Bitcoin And Ether Rise As Ukraine-Russia Tensions Appear To Ease
Cryptocurrencies rose on Tuesday with U.S. stock futures as tensions between Ukraine and Russia appeared to be easing. Bitcoin climbed more than 4% to $44,301.94, while ether rose more than…
Reps approve Customs’ N369bn budget, raises revenue target by N965bn
The House of Representatives Committee on Customs and Excise has approved a budget with estimates totalling N369.14bn for the Nigeria Customs Service in 2022. The House also raised Customs’ revenue…
N’Assembly– FCT loses N800bn annually to fraudulent estate developers
The House of Representatives ad hoc committee has condemned the illegal activities of real estate developers in Abuja, Part of the activities condemned included scamming unsuspecting subscribers and cheating the…
FG plans more gas exports to Europe, EU supports Nigeria with N385bn
The European Union under its Gateway Initiative has said that it will invest about 820m euros in the Nigerian digital economy sector over the next three years. The Executive Vice…
LCCI: CBN’s RT200 FX scheme commendable but needs right mechanisms to thrive
Lagos Chamber of Commerce and Industry says the newly introduced forex repatriation scheme needs adequate mechanisms to achieve desired results. Last week, the Central Bank of Nigeria introduced the RT200…
NBS: Telcos lost 12.3m internet subscribers in 2021
Nigeria’s internet users dipped by 7.99% to 141.9 million as telecoms operators lost 12.3 million data subscribers in 2021. The National Bureau of Statistics said this in its telecoms data…
Power transmission to increase by 1,487MW as TCN gets 15 new transformers
The Transmission Company of Nigeria says it has taken delivery of 15 brand new power transformers. The transformers would increase Nigeria’s electricity transmission capacity by 1,487 megawatts, according to TCN.…
African Union to receive $11.48 million grant from the African Development Fund
The African Union Commission set to receive a grant to the tune of $11.48 million from the African Development Fund. The approval came a few days after the 35th ordinary…
Nigeria’s Inflation Rate Drops To 15.60% In January
The consumer price index, which measures inflation increased to 15.60 percent year-on-year in January 2022. This is 0.87 percent points lower than the rate recorded in January 2021 (16.47) percent.…
IMF Tells Nigerians— ENaira Better Than Bitcoin, Ethereum, Others
The International Monetary Fund has declared central bank digital currencies like eNaira are a better bet than cryptocurrencies. IMF managing director, Kristalina Georgieva said countries were exploring CBDCs and that…
100WF wants more women in Nigeria’s finance industry
A global organisation, 100 Women in Finance, has called for greater participation of women in the Nigerian financial industry. The Chief Executive Officer, 100 Women in Finance, Amanda Pullingger, made…
CBN seeks to increase credit to agricultural sector
CBN Governor Godwin Emefiele has hinted at plans to increase credit to the agricultural sector. He disclosed this at a dinner session with the board of the United Bank for…
Russia’s Yandex Eyes $6.5 Bln Annual Revenue In 2022 After FY Profit Slip
Russian internet giant Yandex on Tuesday reported a 55% decrease in adjusted net income in 2021 but said it expects total group revenues to continue their upward trajectory this year…
India Bans 54 More Chinese Apps Over Security Concerns
Spurred by security concerns, India has blocked access to 54 mobile apps, mostly of Chinese origin, among them the game Free Fire, which is owned by Sea Ltd, government sources…
Intel Buying Israeli Chipmaker Tower Semiconductor For $5.4 Billion
Intel Corp signed a deal to buy Israeli chipmaker Tower Semiconductor for $5.4 billion, the companies said on Tuesday, as Intel looks to further expand its manufacturing capacity and technology…
Blackstone, Partners Plan $23.77 Bln Recapitalization Of Logistics Firm Mileway
Blackstone Inc said on Tuesday existing investors in Mileway, its pan-European last mile logistics company, have agreed to recapitalize the firm for 21 billion euros ($23.77 billion). Existing investors in…
UK’s Minister For Africa, Vicky Ford To Visit Nigeria
The UK’s Minister for Africa, Vicky Ford will visit Nigeria next week in what will be her first visit to the country. According to a statement from the UK government,…
Insurance Firms Earned N630.36bn, Paid N238.05bn Claims – NAICOM
Insurance companies in the country earned N630.36bn premium in 2021 and paid N238.05bn as claims, the National Insurance Commission said on Monday. The Head, Corporate Communications and Market Development, National…
Lonestar Cell MTN, Liberian firm, sues telecoms operator over ‘cyber attack’
Liberia lonestar Cell MTN, a mobile operator in Liberia, has sued Orange telecom company over the latter’s alleged involvement in cyberattacks experienced in the country in previous years. There were…
DMO: We’ll auction N150bn FG bonds to investors on Feb 16
The Debt Management Office says it will auction N150 billion federal government bonds to investors on February 16 2022. This agency announced this in a circular recently published on its…