The Nigerian equities market closed bearish on Thursday as decline in the stock price of FBHN, ZENITH and 18 others reversed previous day’s gains, dipping the market capitalization by N25 billion at the end of the day’s trading. As a result, the All Share Index (ASI) and market capitalization decreased by 0.10%, while the Year-to-Date (Y-T-D) […]
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Wednesday disclosed that transactions on the e-Naira platform has risen to N8 billion even as he stressed the economic benefits of the digital currency to Nigeria’s sustainable growth. Emefiele, who made this disclosure in his address delivered at the 28th Annual Executive […]
The Naira depreciated in exchange rate value on Wednesday, trading at N810/$1 at the parallel market, representing 1.25% depreciation when compared with the N800/$1 it traded the previous day’s trading session. According to traders in the market, the slide in the local currency is linked to shortage of dollars as business owners and individuals continue to […]
Cellulant, a Pan African financial technology company that provides locally relevant and alternative payment methods for global, regional and local merchants, has created a contiguous cloud experience that enables it to meet data and cloud sovereignty requirements across its regions. Working with Pure Infrastructure, a VMware Cloud Provider, Cellulant can now offer its services across borders and […]
Addax Petroleum, a leading Chinese company operating in Nigeria’s hydrocarbon resources upstream sector, has exited oil mining licenses (OMLs) 123,124 and OMLs 126, 137. The company’s exit of the oil blocks is coming nearly 18 months after government ordered the takeover by the Nigeria National Petroleum Corporation (NNPC), now Nigeria National Petroleum Company Limited (NNPCL) The […]
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has promised that the commission will not relent in its efforts to promote latest and emerging technologies to support business operations for the benefit of the country and its citizens. The EVC, who made the pledge while speaking to a cross […]
Amazon Web Services, Inc. (AWS), a subsidiary of Amazon Group and one of the world’s leading Information Technology (IT) firms, has opened its first office in Lagos, Nigeria, in demonstration of its commitment to technology-powered economies in the African continent. A statement issued on Tuesday by the firm’s Regional Manager, Sub-Saharan Africa (SSA), Ms Amrote […]
The Gambian Minister of Communications and Digital Economy, Ousman Bah, at the weekend in Abuja, said Nigeria’s giant strides in telecom regulation are the reason that the nation’s telecoms development has become a reference point. Bah, who led a Gambian delegation, including industry regulators on a courtesy visit to the management of the Nigerian Communications […]
The Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, on Tuesday advised terminal operators, shipping companies and other stakeholders in the maritime sector to strictly comply with the government’s National Action Plan on Agro- Export Development (NAP-AD) to ensure the achievement of its objectives. Bello-Koko, who made the call at the commissioning of […]
The Organisation of Petroleum Exporting Countries (OPEC) has projected that in order to sustain oil and gas sector’s contribution to global energy needs, investments should increase by $500 billion yearly in the sector from now to 2045, implying about $12.1 trillion investment during the period. The oil cartel’s forecast was contained in its 2022 World […]