FG records N307.49bn revenue shortfall in four months
According to data obtained from CBN, the Federal Government recorded a revenue shortfall of N307.49bn from July to October last year. The report said out of the gross federation receipts…
Ronchess Global Resources Plc. Restructures Company Board
Following a successful listing on the Nigerian Exchange on January 12, 2022, Ronchess Global Resources Plc notified the Nigerian Exchange, of the restructuring of its board. Ronchess Board of Directors…
AgDevCo sells commercial farm to Ghanaian agribusiness
BFC is a 356 hectare irrigated commercial farm developed by AgDevCo from greenfield. The project was a proof of concept to attract investors to the Babator Irrigated Farming Hub, an…
Verdant holds first close for hybrid capital Fund
Hybrid Fund initially has $36 million of committed capital Support for micro, small and medium-sized enterprises through investment in financial institutions Verdant Capital Hybrid Fund (VCHF) has reached its first…
FinDev makes commitment to Triple Jump-managed energy fund
FinDev Canada and its 2X Canada facility have announced that it would be donating $13 million to the Energy Entrepreneurs Growth Fund to finance energy companies. The Energy Entrepreneurs Growth…
‘Obscene inequality’: Oxfam says taxing the world’s richest could help save lives
According to a report titled “Inequality Kills” by new Oxfam, The pandemic has made the rich richer while the income of the rest of the world at about 99% of…
Twitter Spaces To Allow Users Record Sessions
Twitter Spaces, a feature that allows users to host or take part in live audio conversations on the platform, will now let all its hosts on Android and iOS record…
China Experienced 8.1% Economy Growth In 2021
China’s economy grew by 8.1% in 2021 as industrial production rose steadily through the end of the year and offset a drop off in retail sales, according to official data…
European Markets Aim For Higher Open
European stocks are expected to open higher on Monday as global markets digest the latest growth data out of China. The U.K.’s FTSE index is seen opening 22 points higher…
Take-Two To Buy Farmville Creator Zynga For $12.7 Bn
Take-Two Video game publisher sets to acquire “Farmville” creator Zynga for $12.7 billion, in a major mobile gaming push by the maker of “Grand Theft Auto.” The deal comes as…
Macro and technical headwinds accrue for bitcoin
A weak start to 2022 and a host of looming macro and technical headwinds are setting cryptocurrencies up for a rough ride in the weeks to come. The biggest of…
Ford’s market cap tops $100 billion for first time ever
Ford Motor’s market value topped $100 billion for the first time ever as the automaker’s stock hit a new 52-week high Thursday. The company’s shares jumped by as much as…
Citi to sell consumer business in Malaysia, Indonesia, Thailand and Vietnam to UOB Group
Citigroup will sell its consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam to Singapore’s United Overseas Bank, the banks announced Friday. As part of the deal, UOB said it…
Pakistan’s Central Bank ‘Wants To Ban’ Crypto
The State Bank of Pakistan (SBP) is reportedly seeking to ban all cryptocurrency transactions in Pakistan. Pakistan’s Sindh High Court held a hearing in arguing that cryptocurrencies like BTC are…
Nigeria MSMEs Contribution Rises By 3.7% – SMEDAN
The Director-General of Small and Medium Enterprises Agency of Nigeria (SMEDAN), Dikko Umaru Radda, said the contribution of the Micro Small and Medium Enterprises (MSMEs) to employment in Nigeria rose…
FSD Africa backs Fintech factoring firm
The investing arm of FSD Africa, has invested £3 million in IMFact, a Kenyan fintech firm. The Kenyan fintech firm IMFact, which was founded in 2019, provides working capital to…
Nigeria: Association of Bureaux De Change Operators Of Nigeria Urge CBN To Remove Restrictions
Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN), to remove restrictive controls that makes it difficult for Bureaux De Change,…
Nigeria Customs To Generate N4.1trn Revenue In 2022
The Nigeria Customs Service (NCS) says it has a revenue target of N4.1 trillion in 2022. NCS had said it generated N2.3 trillion revenue in 2021, exceeding the target by…
Oil Price Hits $85: More Subsidy To Be Paid By Nigerians
Oil prices continued their surge yesterday, hitting a two-month high amid projections that lack of production capacity and limited investment in the sector could lift crude between $90 and $100…
China Evergrande Shares Climb After Winning Bond Payment Delay
Shares of China Evergrande Group (3333.HK) edged up on Friday after the world’s most indebted developer secured a crucial approval from onshore bondholders to delay payments on one of its…
Google Shows Faith In Office With $1 Billion London Deal
Tech giant Google has spent $1 billion to buy a central London building where it is currently a tenant. Showing its confidence in the future of the office as a…
Pay tax, support government to manage prohibited content… FG lists agreements reached with Twitter
President Muhammadu Buhari has approved the lifting of the suspension on the Twitter operations in Nigeria. The lifting will be effective from midnight, January 13, 2022. Twitter was suspended indefinitely…
Facebook Faces $3.2 Bln UK Class Action Over Market Dominance
Social media giant Facebook, now known as Meta Platforms, faces a 2.3 billion pound plus ($3.2 billion plus) class action in Britain over allegations it abused its market dominance by…
Tesla Merchandise Buyable Using Dogecoin, Musk Says In Tweet
Tesla merchandise can be bought using the digital currency dogecoin, the electric-car maker’s Chief Executive Officer Elon Musk said in a tweet on Friday. Products such as the “Cyberwhistle” and…
Nigeria: FG Appoints New Director For NSIA
The Federal Government has approved the appointment of Dr Ogechi Paschal-Ejiogu to the board of directors of the Nigeria Sovereign Investment Authority. A statement on Thursday said she replaced Mr…
Cardinalstone Securities Trades N143.6bn On NGX
Cardinalstone Securities Limited has said it traded a total value of N143.6bn on the Nigerian Exchange Limited. A statement on Wednesday said this was according to the broker performance report,…
CBN Fails To Curb Inflation, Halt Naira Slide, Says Report
Bayelsa State Governor Douye Diri on Thursday granted the Nigerian Air Force request. Diri granted request for land to build a new residential quarters for the NAF Mobility Command in…
AstraZeneca Says Early Trial Data Indicates Third Dose Helps Against Omicron
AstraZeneca said on Thursday that preliminary data from a trial showed that its COVID-19 shot, Vaxzevria, generated an increase in antibodies against the Omicron and other variants when given as…
Microsoft Invests $50 Million In Alcohol-To-Jet Fuel Biorefinery
Microsoft (MSFT.O) is investing $50 million in a LanzaJet facility in Georgia that will produce jet fuel from ethanol next year, LanzaJet said. The airline industry is considered one of…
Microsoft Has Stopped Making Xbox One Consoles – The Verge
Microsoft Corp has stopped manufacturing all Xbox One consoles to focus on producing its next-generation consoles, the Verge reported on Thursday, citing a senior executive of the gaming division. According…