E-Naira Is More Reliable Than Cryptocurrency: CBN
The Central Bank of Nigeria has said that the eNaira is more reliable than cryptocurrencies. The CBN Director of Corporate Communications, Nnamdi Okwuosa, said this at the CBN Fair to…
China Government: 38 Apps To Rectify Excessive Collection Of Personal Information
China’s government on Wednesday ordered 38 apps from a number of companies including social media giant Tencent Corp to rectify what it called the excessive collection of personal information. The…
China Disagree With U.S. Revocation Of China Telecom Licence
China “resolutely opposes” Washington’s revocation of China Telecom Corp Inc’s. licence to operate in the United States, the information ministry said on Wednesday, urging a reversal of the move. The…
Alphabet Plans To Reopen Google News Service In Spain
Alphabet said on Wednesday it plans to reopen its Google News service in Spain ‘soon’ after the government passed new legislation that allows media outlets to negotiate directly with the…
Facebook Parent Meta Platforms Will Invest In New Zealand To Boost Digital Capabilities
Facebook parent Meta Platforms Inc. said on Thursday it would invest in New Zealand to promote up and coming news publishers and boost their digital capabilities, a month after the…
Tencent Holdings Progresses On Chip Production
Chinese technology giant Tencent Holdings, touted progress in semiconductor chip development and investment on Wednesday, offering a rare public glimpse of its R&D initiatives. Best known for computer games and…
62 Billion Yuan Spent Using China’s New Digital Currency
Some 140 million people had opened “wallets” for China’s new digital yuan as of October and used it for transactions totalling around 62 billion yuan ($9.7 billion), a senior Chinese…
NNPC Rule Out Hike In Pump Price Of Products
The Nigerian National Petroleum Corporation has admitted that there are pricing issues at some petrol depots in the country but ruled out any hike in the pump price of the…
First Bank Launch Digital Centre
First Bank of Nigeria Limited has announced the launch of its fully automated branch, called the FirstBank Digital Experience Centre. It disclosed this in a statement on Tuesday titled ‘FirstBank…
Nigeria States Made N2.33 Trillion From PAYE In Three Years
The 36 states in Nigeria and the Federal Capital Territory earned N2.33tn from Pay As You Earn in three years, according to data collated from the National Bureau of Statistics.…
Amid Covid-19 Outbreak Nigerians Banks Closed 234 Branches And 649 ATMs In 2020: IMF
The International Monetary Fund (IMF) says Nigerian banks closed 234 branches and 649 automated teller machines (ATMs) in 2020 amid the COVID-19 outbreak. The IMF said this in its 2021…
ByteDance Founder Resign As It’s Chairman
ByteDance founder Zhang Yiming has stepped down as chairman, as the company continues to reorganize its business. ByteDance owns TikTok, the wildly popular short-video app. Zhang announced his resignation as…
CBN And SEC Sanction Five Banks For Various Infractions
The Central Bank of Nigeria and the Securities and Exchange Commission have sanctioned five major banks for committing over 20 various infractions, including the violation of foreign exchange market and…
FG Hopeful Dangote Petroleum Refinery, NNPC, And Other Modular Refineries Will Meet Nigerians PMS Demand
The 650,000bpd Dangote Petroleum Refinery, Nigerian National Petroleum Corporation (NNPC) and other modular refineries are expected to be the major drivers of Nigeria’s demand for petroleum products, which is projected…
Nigerian Sovereign Investment Authority Allocation To Be Blocked By House Of Rep Finance Committee
The House of Representatives’ Committee on Finance has vowed to block allocation to Nigerian Sovereign Investment Authority if it fails to present its 2022 budget proposal to the National Assembly…
Tesla Recalls U.S Vehicles Sold Since 2017 Due To Communication Error
Tesla Inc is recalling nearly 12,000 U.S. vehicles sold since 2017 because a communication error may cause a false forward-collision warning or unexpected activation of the emergency brakes, the National…
Elon Musk To Help Fight World Hunger With $6 Billion But With A Clause
Elon Musk is now worth more than $300 billion, and he’s apparently ready to start spending. The Tesla and SpaceX CEO — whose net worth has ballooned by more than…
Chip Shortage Force Apple To Substitute Production Of Ipad Tablet For Iphone 13
Apple has cut back production of iPad tablets to allocate more components to the iPhone 13, a sign the global chip supply crunch is hitting Apple harder than previously indicated,…
Dangote Cement Records 34.2 Percent Revenue Growth In Nine Month
Dangote Cement Plc, the largest Cement producer with nearly 48.6Mta capacity across Africa, published nine-month results, showing a strong 34.2 percent and 49.1 percent year-on-year growth in revenue and profit…
Electric Vehicle Start-Up “Rivian Automotive” Targets $54.6 Million
Electric vehicle start-up Rivian Automotive is targeting a market valuation of as much as $54.6 billion in its upcoming initial public offering, according to its amended prospectus filed Monday. The…
E-Naira:Phone Application For People Without Bank Account To Be Release Soon
The Chief Executive Officer of Bitt Inc., Brian Popelka, has said a phone application for people without bank accounts will be rolling out soon. He said the present version of…
Federal Government To Ensure The Reduction Of Insider Abuse Of Nuclear Assets
The federal government, through the National Atomic Energy Commission (NAEC), has underscored the need to ensure the reduction of insider abuse of its nuclear assets, saying that aside the deployment…
Facebook Launch Programme Themed “My Digital World” In Sub-Saharan Africa Countries
Facebook has announced the launch of the 2021 edition of a digital literacy programme aimed at equipping young people and the general public with the skills needed to navigate digital…
Introduction Of Hostile Economic Policies Drops Nigeria Volume Of Import Via Benin Republic By 95%
The volume of imports into Nigeria through its neighbor, Benin Republic, has continued on a downward slide through July and October 2021, falling by as much as 95 percent due…
FRC Vows To Deal With Banks That Gives Loan To Government And Agencies Without Due Process
Fiscal Responsibility Commission has vowed to engage the services of the Independent Corrupt Practices and Other Related Offences Commission and the Economic and Financial Crimes Commission to deal with banks…
Power Generation In Nigeria Dropped From 4,224.9MW To 3,844.3MW
Power generation in Nigeria dropped from a peak of 4,224.9MW on Sunday to 3,844.3MW by 6am on Monday, data obtained from the Federal Ministry of Power show. Coincidentally, November 1,…
SEC Urge Stockbrokers To Create Innovative Financial Products
The Securities and Exchange Commission (SEC) has urged operators to create innovative financial products that would support businesses, boost market liquidity and enable the market to play its role of…
Nigeria Routes Airfares Surge Higher
The lingering shortage of foreign exchange in Nigeria has forced the naira to crash against the United States dollar on the air ticket pricing template of the International Air Transport…