Online Learning Platform Raises $3.5m Pre-Seed Funding
Edukoya, an online learning platform, says it has raised $3.5m in pre-seed round to enable its live launch in 2022. The round was led by Target Global and had participation…
Google Announces Investment In Tech Startup
Google has announced its first investment from its Africa Investment Fund in SafeBoda, a tech firm that operates in Nigeria and Uganda. It said in a statement that this investment…
Foreign Telcos To Pay $0.045 To Terminate Calls In Nigeria
Foreign telecommunications companies, telcos who wish to terminate calls to their counterparts in Nigeria, will now have to pay a minimum of $0.045 per minute to have the call go…
Japan’s Nikkei 225 Jumps 2% As Investors Assess Omicron Risks
Shares in Asia-Pacific rose in Tuesday trade as investors continued to monitor the situation surrounding the omicron Covid variant. Japanese stocks led gains regionally, with the Nikkei 225 in Japan…
China Mobile To Raise Up To $8.8 Bln In Shanghai Listing
China Mobile the world’s largest mobile network operator by total subscribers, said on Tuesday it aims to raise up to 56 billion yuan ($8.8 billion) in a Shanghai public offering,…
Social Media App Parler Plans To Expand Into NFTs
Social media platform Parler said on Monday it will expand its business into non-fungible tokens (NFT), in a move that underpins the rapid growth of the digital asset in recent…
Moderna Says Covid Booster Appears To Protect Against Omicron
Moderna announced Monday that a third dose of its mRNA vaccine against Covid-19 appears to provide significant protection against the omicron variant, sending shares higher in premarket trading. Moderna shares…
Oracle To Enter Into It’s Biggest Acquisition Ever
Enterprise software giant Oracle will buy electronic medical records company Cerner in an all-cash deal for $95 per share, or approximately $28.3 billion in equity value. The deal, expected to…
China Cuts Lending Benchmark, Market Sees More Easing In 2022
China cut its lending benchmark loan prime rate (LPR) for the first time in 20 months on Monday. The one-year LPR was lowered by 5 basis points to 3.80% from…
Tesla’s Musk Says He Will Pay Over $11 Bln In Taxes This Year
Electric-car maker Tesla Chief Executive Officer Elon Musk said on Sunday on Twitter that he will pay more than $11 billion in taxes this year. Earlier this week, Democratic U.S.…
Facebook Pays Fines To Russia Over Banned Content
Facebook has paid 17 million roubles ($229,643) in fines owed in Russia for failing to delete content Moscow deems illegal. The Interfax news agency reported on Sunday, but with the…
Togo, Benin, Niger Paid Nothing For Nigeria’s Power Supply, Says NERC
The Nigerian Electricity Regulatory Commission has said the Republic of Benin, Niger Republic and Togo made no payment for the electricity supplied to them from Nigeria in the second quarter…
Nigeria’s External Reserves Fall By $440m In Two Weeks
The nation’s external reserves fell by $440m in two weeks from $41.15bn at the start of this month, figures obtained from the Central Bank of Nigeria revealed on Friday. The…
CBN Approves Appointment Of Ahmad Abdullahi As FBNH Chairman
The Central Bank of Nigeria (CBN) has approved the appointment of Ahmad Abdullahi as non-executive director and chairman of First Bank Holding PLC.This follows the resignation Remi Babalola, former chairman…
FBN Holdings Notifies NGX, Investors Of Remi Babalola’s Resignation
FBN Holdings Plc has officially notified the Nigerian Exchange Ltd and the investing public of the resignation of Remi Babalola, its chairman and non-executive director. This is contained in the…
Naira Slides Ahead Of Yuletide, Exchange For 570/Dollar
The naira continued its downward trend as the dollar was sold for N570 in the parallel market on Tuesday. Some Bureau de Change Operators attributed the further fall in the…
UK Shares Head For Weekly Loss On Omicron Concerns, Inflation Risks
UK’s FTSE 100 slipped on Friday and was on course for a weekly loss, as concerns surrounding the fast-spreading Omicron variant and inflationary risks outweighed strong retail sales data. The…
S&P Dumps Chinese Property Giant Evergrande Into Default
The poster child of China’s property crisis China Evergrande Group was officially declared in default by credit rating agency S&P Global on Friday after the sprawling firm missed a bond…
Paxful Launch Gift Card Hub
Paxful has launched a gift card hub as a one-stop shop for trading gift cards on its platform. According to the company, this new feature allows users to list gift…
Fintech Firm Unveils Budgeting Solution
Fintrak Limited, an indigenous software development and financial technology firm, has launched a budgeting solution, called ‘FinTrak Budget Planning & Processing Control’, for businesses. The company said in a statement…
World Bank Rolls Out N329.53bn Cash Transfer Programme
The World Bank is rolling out an $800m (N329.53bn at official exchange rate) facility designed to fund a large-scale Conditional Cash Transfer programme in Nigeria, the Nigeria Governors’ Forum hinted…
Access Bank’s Shareholders Approve Proposed Holdco Structure
Shareholders of Access Bank Plc have given the nod for the bank to proceed with its proposed restructuring into a Holding company status. Access Bank Plc had last week announced…
FG To Stop Customs From Revenue Collection
The Federal Government has proposed a legislative framework that would stop the Nigerian Customs Service (NCS) from revenue collection, saying the role was a distraction to the service. According to…
We’ve Uncovered Fresh $72.8m Linked To Diezani – EFCC
The Economic and Financial Crimes Commission (EFCC) says it has discovered a fresh sum of $72.87 million allegedly linked to Diezani Alison-Madueke, a former minister of petroleum resources. The development…
Uber looking to sell Didi, China market has little transparency, CEO says
Uber Technologies Inc (UBER.N) is looking to sell stakes in non-strategic assets, including its stake in Didi Global Inc, based in Beijing (DIDI.N). The American company exited China in 2016…
Bank Of England Raises Interest Rate To 0.25%
The Bank of England raised its main interest rate to 0.25% on Thursday as inflation pressures mounted in Britain. Most economists polled by Reuters had expected the BoE to keep…
Jack Dorsey Appoints Three Nigerians And A South African To Head Bitcoin Trust Fund Board
Twitter founder, Jack Dorsey, has appointed three Nigerians and one South African to act as the board of his Bitcoin Trust (BTrust) fund which will be disbursed for development in…
FG Approves €62m To Procure Transformers For Siemens Power Project
The federal executive council (FEC) has approved $1.9 million and €62.9 million for phase one of the presidential power initiative (PPI). PPI is a power upgrade and modernization programme between…
Reps approve fresh $5.8bn loan, $10m grant for FG
On Tuesday, the House of Representatives approved external borrowings amounting to $5,803,364,553.50 and a grant of $10,000,000 for the Federal Government as part of the proposed 2018–2020 External Borrowing (Rolling)…
World Bank announces $93bn package for Nigeria, 73 others
On Wednesday The World Bank announced a $93bn replenishment package of the International Development Association to help 74 low-income countries respond to the COVID-19 crisis and build a greener, more…