Africa Startup “Andela” Attains Unicorn Status
Andela, a startup that connects African software engineering talent to global companies has raised $200 million from investors led by…
Category: Local
1000 Additional Worker Needed For Nigeria Rail Line
The Lagos-Ibadan rail line will employ 1,000 additional workers at the cost of N567.45m per annum. The Managing Director, Nigerian…
Airtel Nigeria To Buy Back 8.27% Minority Shareholdings
Airtel Africa has announced that its subsidiary, Airtel Networks Ltd. (Airtel Nigeria), has initiated a process to buy back 8.27…
Pressure On Cost Leads To Purchase Price Inflation
Unfavorable exchange rate movement exerted pressure on cost, leading to a rise in purchase price inflation. Stanbic IBTC Bank Nigeria…
Nigeria Spent N1.47tn On Debt Servicing
Nigeria spent N1.47tn on debt servicing payments in the first half of 2021, data obtained from the Debt Management Office…
Jaiz Bank Net Revenue Funds To Reach N5.07 Billion By End Of Q4
Jaiz Bank Plc has projected a net operating income of N4.68bn in the fourth quarter of the year 2021. An…
Cloud Exchange Collaborate With Huawei
Cloud Exchange has launched Africa’s first uptime institute tier IV modular prefabricated data centre in collaboration with Huawei. According to…
Nigerian Business Has Long Term Potential: Procter & Gamble Company
Procter & Gamble (P&G) is raising Nigeria’s capability to earn foreign exchange (forex) through its ongoing strengthening of manufacturing and…
Insurance Industry’s Gross Premium Income (GPI) Grew By 15%
The Insurance Industry’s Gross Premium Income (GPI) grew by 15 per cent year-on-year to N592.3 billion in the financial year…
World Bank Approve $11.5 Billion Lending
The World Bank has said it approved $11.5bn in lending to Western and Central African countries for 98 operations. The…
Nigeria Exchange Limited To Democratise finance In Nigeria Technology Sector
Capital market regulating bodies and other stakeholders have called on operators in the technology industry to leverage on capital market…
Africans Win At British STEAM Competition
Three youth teams from Nigeria, Ghana and Kenya have celebrated their achievements at the British International Education Association’s 2021 International…
Nigeria Manufactured Import Exceed Export By 4.3 Trillion
The value of manufactured goods imported into the country exceeded exports by N4.37tn in the second quarter of 2021, according…
Investors Gain N521.46 Billion
Investors in the Nigerian Exchange Limited equities market recorded N521.46bn gain in September despite losses in 85 firms against 35…
European Union And German Agency Provide Financial Support To Nigeria Government
The European Union and the German Agency for International Cooperation on Thursday provided additional £15m as financial support to the…
Lower-Income Countries Should Avoid High Interest Rate Financing : World Bank
The World Bank Group has called on lower-income countries to prioritise concessional financing and avoid the high interest rate financing…
Nigeria Debt Hit N35 Trillion
Nigeria spent N445.4bn on debt servicing payments in the second quarter of this year, the latest data obtained from the…
E-Naira Won’t Launch On Independence Day: CBN
The Central Bank of Nigeria on Thursday announced the postponement of the planned unveiling of the country’s digital currency, e-Naira.…
Nigerians Can Now Access Twitter Without VPN
President Muhammadu Buhari has announced that the suspension on Twitter’s operation in Nigeria has been lifted. The president disclosed this…
NNPC Incorporation Have Been Completed: Corporate Affairs Commission
The Corporate Affairs Commission (CAC) on Wednesday, said that it has completed the incorporation of Nigerian National Petroleum Company (NNPC)…
NGX Market Capitalization Gains N382.06 Billion
At the end of Wednesday trading session, the Nigerian Exchange market closed positive amidst sell-offs and buy-interests as the benchmark…
Shell Nigeria Donates Subsea Training Facilities To University Of Port-Harcourt
Shell Nigeria Exploration Company Limited has announced that it had donated subsea training facilities worth over $700,000, about N287.88m, to…
OPEC Annual Statistical Bulletin Shows Drop In Nigeria Oil Reserve
The 2021 Annual Statistical Bulletin of the Organisation of Petroleum Exporting Countries released on Wednesday showed a drop of 543…
Instagram Announce Pausing Of Instagram Kids
Instagram announced that it is pausing its planned version of the social media platform geared towards children under the age…
Bank for International Settlements Says Digital Currencies Will Reduce The Cost Of Cross-Border Payment
The Bank for International Settlements has said digital currencies will reduce the cost of cross-border payments. BIS said this in…
Pan-African Payment and Settlement System Set To Boost Intra-African Trade
African Export-Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) Secretariat have announced the commencement of the Pan-African…
Knowledge Hub 365 Now Offering E-courses In Nigeria
Knowledge Hub 365, an enterprise training portal, has begun offering e-courses in Nigeria. In a statement on Tuesday, the company…
Heifer Nigeria Appoint New Country Director
Heifer International has appointed Rufus Idris as its new Country Director for its Nigeria operations. In a statement issued by…
House of Representatives Approves N4.89tn New Borrowings
The House of Representatives has passed the 2022–2024 Medium Term Expenditure Framework and Fiscal Strategy Paper as presented by the…
Naira Exchange At 414.83 To $1 Officially
The exchange rate between the naira and the US dollar closed at N414.83/$1, at the official Investors and Exporters window.…