The Nigerian Exchange Gains Over N23 Billion In A Single Day
The Nigerian Exchange has commenced the new week on a positive note to sustain the rally amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 9 basis…
Nigeria’s Private Sector Borrows N5.16 Trillion From Banks In 11 Months 2021
Private sector credit rose to a record high of N35.31 trillion as of November 2021, representing N5.16 trillion net new loans between January and November 2021. This is according to…
World Bank slashes global growth forecast and warns about growing inequality
World Bank slashed its global growth forecast for 2022 and 2023 and cautioned a rise in inflation, debt and income inequality. The projections follow a strong rebound in global growth…
Stanbic, Standard Chartered, Citi Lead As Banks Record $38.2bn Foreign Inflows
Stanbic IBTC, Standard Chartered Nigeria, and Citibank Nigeria lead as capital importation from banks hit $38.18bn in almost three years. Between January 2019 and September 2021 (33 months), the total…
We Are Not Affiliated With Access Capital Investment Platform, Says Access Bank
Access Bank Plc says it has no business engagement or affiliation with Access Capital Investment Platform, an online investment entity. Sunday Ekwochi, company secretary at Access Bank, disclosed this Wednesday…
FG Lifts Suspension On Twitter Operations
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, according to a statement…
‘No Staff Will Be Affected In 2022’ — Standard Chartered Confirms Closure Of Nigerian Branches
Standard Chartered Bank has confirmed the closure of 50 percent of its Nigerian branches. Dayo Aderugbo, Head, corporate affairs, brand and marketing, Standard Chartered Bank Nigeria, assured employees there would…
Days After Listing, BUA Foods’ Shares Jump 46.25%, Market Cap Hits N1.053trn
The shares of BUA Foods Plc have appreciated by 46.25 percent on the Nigerian Exchange Limited (NGX) after its formal launch last week. During a four -day trading session on…
COVID-19: Nigeria Yet To Vaccinate 50% Of Target Population, Says FG
The federal government has said the country was yet to vaccinate 50 per cent of its eligible population since the exercise began last year. It, however, said there are clear…
WhatsApp co-founder Acton named Signal’s interim CEO
Messaging app Signal’s founder Moxie Marlinspike will step down and WhatsApp co-founder Brian Acton will become the interim CEO. Acton founded Signal’s rival messaging app WhatsApp in 2009, the company…
Germany Doesn’t Rule Out Closing Telegram – Interior Minister
Germany could shut down Telegram if the messenger service popular with far-right groups and people opposed to pandemic-related restrictions continues to violate German law, Interior Minister Nancy Faeser said in…
Nigeria President Cancels Restoration Of INTELS’ Pilotage Contract
INTELS Nigeria Limited set to retain its service boat contract in the pilotage district of Lagos, Warri, Bonny, PortHarcourt and Calabar. The pilotage contract which expired on August 2020, met…
UBA’s Leo clocks 4, set to further transform digital banking in Nigeria, Africa
Africa’s global bank, United Bank for Africa has said that it has concluded plans to commemorate the 4th year anniversary of its flagship artificial intelligence Chabot, with new offerings set…
Hong Kong’s Hang Seng jumps 2% as tech stocks rally; China’s December inflation slows
Chinese markets rose on Wednesday, tracking gains in other Asia-Pacific markets. U.S. markets also rallied overnight as comments from the Fed chief appeared to reassure investors. Hong Kong’s Hang Seng…
Globacom Lifts Nigeria’s Mobile Subscribers To 140 Million — Highest In Six Months
The Nigerian Communications Commission (NCC) says the country’s internet subscribers rose to 140.41 million in November 2021. The commission said this in a recent update of industry statistics posted on…
Higher Oil Prices’ll Drive Nigeria’s Economy By 2.5% In 2022 – World Bank
The World Bank has projected a 2.5 % economic growth for Nigeria in 2022, and 2.8% by 2023 as the price of oil skyrocket According to World Bank, the forecast…
S.Korea Authorises Novavax COVID-19 Vaccine, Imports Pfizer Pills
South Korea is turning to additional pharmaceutical tools as it looks to pre-empt a surge of COVID-19 omicron infections, authorising the use of Novavax Inc’s vaccine on Wednesdayand preparing to…
Bolt Now Valued Above $8bn After Raising $712m To Expand Product Lines
Bolt, a ride-hailing company, says it has raised $712 million (€628 million) to expand its transportation and food delivery super app. Sequoia Capital and Fidelity Management and Research Company participated…
Nigeria: NBET Pays GENCOs 50% Of Invoice On Power Supply
Power generation companies (GenCos) were paid just half of their total invoice to the Nigerian Bulk Electricity Trading Plc (NBET) for power supplied to the National Grid in the first…
Venture Capital Firm Kleiner Perkins Raises $1.8 Bln Via Two New Funds
Venture capital firm Kleiner Perkins said on Tuesday it had raised $1.8 billion through two new funds, as it aims to expand into sectors such as fintech and consumer after…
French Refurbished Smartphone Seller Back Market Valued At $5.7 Bln
Back Market, the French marketplace dedicated to refurbished smartphones and electronic devices, said on Tuesday it had closed an investment round of $510 million, bringing its total valuation to $5.7…
Israeli Security Startup Pentera Raises $150 Mln In Funding Round, Eyes IPO
Israeli cybersecurity firm Pentera has raised $150 million in its latest funding round, taking the company’s value to $1 billion, the company told Reuters, adding it was eyeing an initial…
Tech Startup Raises $1.7m For Expansion
Bfree, a credit management fintech, has raised $1.7m in a pre-Series A round to embark on expansion in emerging markets. The company said it had so far raised $2.5m, having…
Oil Market: Bonny Light Price Hits $81.81 Per Barrel
The price of Bonny Light, Nigeria’s premium oil grade, has risen to $81.81 per barrel in the global market, as the Organisation of Petroleum Exporting Countries, OPEC, moves to achieve…
Standard Chartered To Shut Half Of Nigeria Branches
Standard Chartered Plc is closing about half its Nigerian branches in a pivot to digital banking, according to people familiar with the matter, as the finance industry comes under pressure…
Foxconn India iPhone plans to reopen on Wednesday -legislator
Apple Inc supplier Foxconn will reopen an iPhone manufacturing facility in southern India on Wednesday. Foxconn said it employed about 17,000 people but was closed in Dec18 when workers fell…
Nigeria’s Diaspora Remittances May Beat World Bank’s Projection, Rise 10% To $14.2bn
Nigeria’s diaspora remittances inflow is set to beat the World Bank’s projection for 2021, as it rose to $14.2 billion in September 2021 Up to10 per cent Year-on-Year, YoY, from…
Gains In BUA Foods, 27 Stocks Lift Capitalisation Further By N28 Billion
Transactions on the equities sector of the Nigerian Exchange (NGX) market capitalisation increased by N28 billion yesterday, amid sustained bargain hunting in BUA foods and 27 stocks. Specifically, the All-Share…
Gmail Hits 10 Billion Installs On Android, Becomes Fourth To Surpass Milestone
Total number of Gmail app installations has surpassed 10 billion on android, emerging the fourth app on Google play store to hit the milestone after Google Play Services, YouTube, and…