FG’s 2022 Budget Has 460 Duplicated Projects Worth N378.9b — BudgIT
BudgIT, a foremost civic-tech organization leading the advocacy for transparency and accountability in Nigeria’s public finance, has called on the…
Category: Local
Foreign Inflows Fall By 32%, UK, South Africa, Others Slash Nigeria Investments
The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 per cent to $500m…
Nigeria To Partner Egypt On Technical Support For Power Transmission
The Federal Government has announced plans to partner Egypt in the areas of technical support in the transmission and distribution…
Dangote Oil Refinery To Reduce Importation Of Petroleum Products By 36 Per cent
The African Petroleum Producers Organisation (APPO) has said that Dangote Oil Refinery would reduce importation of petroleum products production into…
Nigeria: FEC Approves N56.2 Billion For Road Construction
The federal executive council (FEC) has approved contracts worth N56.2 billion for the construction of roads and a car park…
Naira depreciates as banks shift BTA/PTA rates to N419 per dollar
The value of the Nigerian naira depreciated by 1.5 percent as banks shifted personal travel allowance (PTA) and business travel…
Oracle Opens Data Centre In South Africa
Oracle, a cloud infrastructure firm, says it has opened a data centre in South Africa — its first cloud region…
Nigerian Food-Tech Startup “Orda”Raises $1m In Pre Seed Round
Orda, a Nigerian food-tech startup, says it has raised a pre-seed round capital of $1.1 million to expand its operations…
Nigeria: Tinubu, Alpha Beta Ex-MD Considers Out-Of-Court Settlement
A former Managing Director of Alpha Beta Consulting, Dapo Apara, the All Progressives Congress leader, Bola Tinubu; and the current…
Nigeria: President Buhari to unveil CBN rice pyramids
President Buhari will unveil one million pyramid-shaped sacks of rice paddy in Abuja today. The pyramids which are said to…
After eight months of decline, Nigeria’s inflation rate rises to 15.63%
After eight months of decline, Nigeria’s headline inflation rate rose to 15.36% in December 2021, from 15.50% recorded in November.…
Parallex transforms from microfinance to commercial bank
Parallex Bank says it has officially transitioned from a microfinance institution to a commercial bank. The bank unveiled its new…
Insurance firms’ assets hit N2.09tn amidst recapitalisation suspension
The insurance sector’s total assets have risen by N228.24bn in 15 months despite the suspension of the National Insurance Commission’s…
NGX reopens bearish as losses in 22 stocks drag indices by N29bn
Nigerian Exchange Limited NGX resumed trading for the week on a downturn yesterday, as losses in 22 stocks dragged market…
Twitter Expand Test Feature For Flagging Misleading Content To Brazil, Spain And Philippines
Twitter Inc said on Monday it will expand its test feature which allows users to flag misleading content on its…
Chinese E-Commerce Giant JD.Com Sets Challenge To Amazon With First ‘Robotic Shops’ In Europe
Chinese e-commerce giant JD.com has opened two retail stores in the Netherlands that it says will be manned with robots…
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…
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,…
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…
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…
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…
‘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…
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…
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…
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…
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…
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…
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…
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…