Category: Business
The nominee for United States’ Securities and Exchange Commission (SEC), Gary Gensler, has described bitcoin as a catalyst for change. Gensler said while SEC under his leadership will protect investors, the commission also intends to support the usage of bitcoin. Gensler’s comment on bitcoin has given the cryptocurrency some weight following criticism from the Central […]
The academy has awarded over £3.5 million in 37 projects in Nigeria and across 13 African countries. The Royal Academy of Engineering has awarded over £3.5 million to 37 projects in Nigeria and across 13 African countries to promote better training and sustainability and diversify economies. This was disclosed by the Academy via a statement […]
Osinbajo has reaffirmed FG’s commitment to the global green energy initiative with the deployment of 5 million solar power connections. Vice President Yemi Osinbajo has stated that the Federal Government’s plan to electrify the homes of 25 million Nigerians through the deployment of solar power connections reaffirms Nigeria’s commitment to the global green energy initiative. […]
The FEC has approved the design, development, and deployment of a management system for NSIP. The Federal Economic Council, FEC, has approved the development of a new management system for the National Social Investment Programme. The platform would cover other National Social Investments Programmes projects including N-Power, Government Enterprise and Empowerment Programme (GEEP), Household Uplifting […]
FG has extended the work-from-home directive for civil servants from GL 12 and below until the end of March. The Federal Government has announced the extension of the work-from-home directive for civil servants from GL 12 and below until the end of March. This is seen as part of the measure by the government to […]
The Transmission Company of Nigeria (TCN) has stated that the power sector has recorded an all-time national peak of 5,615.40MW. A statement issued on Tuesday, March 2, in Lagos by Ms Ndidi Mbah, General Manager, Public Affairs, TCN, said the new record was achieved on February 28. The statement said the power generated was efficiently transmitted […]
Investors in the Nigerian Stock Exchange (NSE) lost N122.34 billion on Tuesday as the equity capitalization slipped to N20.76 trillion at the end of trading. Trading ended on the floor of the stock market on Monday with the equity capitalization standing at N20.89 trillion. The volume of traded shares also dropped to 222.57 million on […]
Spotify’s investments have empowered podcast creators and advertisers through its proprietary hosting, creation, and monetization tools. The number of Spotify’s podcast listeners will surpass Apple’s listeners this year. According to a report by eMarketer, 28.2 million U.S. users will listen to podcasts on Spotify at least monthly, compared with 28.0 million via Apple Podcasts. This […]
Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders. The Board of Directors of Nigeria, Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders for the period ended 31st December 2020. This announcement was contained in the audited financial statement of […]
Shoprite employees have protested unpaid gratuity, as they accuse the South African-owned supermarket of selling off the Nigerian subsidiary without seeing through their memorandum of understanding (MOU). According to one of the protesters in a video shared online, Shoprite and the national body for the employees were supposed to meet last month, February, over wages […]
The value of transactions via digital payment platforms – Nigeria Interbank Settlement System Instant Payment System and Point of Sales terminals – dropped to N18.99tn in January 2021. According to data obtained from Nigeria Interbank Settlement System on Monday, the total value of NIP transactions grossed N18.50tn in January while PoS deals were worth N489.23bn […]
The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019. The N5.94tn represents 29.16 per cent of the N20.37tn loans advanced to the private sector by the banks as of December, according to […]
The nation’s stock market started the month on a positive note on the back of price appreciation recorded by UAC of Nigeria Plc and 11 other firms on Monday. Investors in the market had recorded a total loss of N1.37tn in February as market capitalisation tumbled below N21tn amid profit-taking. The Nigerian Stock Exchange All-Share […]
A former Minister of Lands, Housing and Urban Development, Chief Nduese Essien, has called on the National Assembly to properly address and review the issue of oil blocs allocation in the new Petroleum Industry bill. He said the bill should also clearly define the status of the host community adding that failure to do so […]
Nigeria has more than $5.83bn foreign loans that have been approved but not yet disbursed, the Debt Management Office has said. The DMO on its portal on Sunday listed a number of foreign loans that were to be disbursed as of December 31, 2020. The disbursement of the loans will take the country’s total foreign […]
