Barely two weeks after one of Nigeria’s fintech, Duplo, concluded its seed funding round with resounding success, another Nigerian fintech startup, NowNow Digital Systems, has raised $13 million in its seed round to improve financial inclusion across Africa by providing financial services to the unbanked and under-banked in the continent. The digital payment firm’s funding […]
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Naira Depreciates At P2P Market To N706/$, Gains At Black Market
The Naira exchange rate at the cryptocurrency peer-to-peer FX market dropped by 0.22% to N706.54/$1 on Wednesday morning, down from the N704.99/$1 that the currency traded as of the same time the previous day. However, according to information obtained from black market operators, the Naira on the other hand appreciated slightly by 0.14% on Wednesday […]
NASS Lauds SEC’s Management On Fiscal Sustainability
The House of Representatives Committee on Finance has commended the Securities and Exchange Commission’s (SEC’s) management on decisive steps taken in ensuring that it attains fiscal sustainability in the nation’s capital market regulatory agency. The Chairman of the committee, Hon. James Faleke, who gave the commendation during the 2023-2025 Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) interactive session with […]
NASS Lauds SEC’s Management On Fiscal Sustainability
The House of Representatives Committee on Finance has commended the Securities and Exchange Commission’s (SEC’s) management on decisive steps taken in ensuring that it attains fiscal sustainability in the nation’s capital market regulatory agency. The Chairman of the committee, Hon. James Faleke, who gave the commendation during the 2023-2025 Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) interactive session with […]
NIRSAL MFB Issues Final Demand Notice To ABP Loan Defaulters
NIRSAL Microfinance Bank Limited (NMFB) on Tuesday issued a final demand notice to defaulting beneficiaries of the Anchor Borrowers Programme (ABP) loans disbursed by it, warning that failure to offset their outstanding debts will lead to serious consequences. The MfB’s management, in a statement, indicated that the final demand notice was sequel to the Central […]
Equities Market’s Investors Lose N186Bn As Bears Hold Sway
Trading activities on the Nigerian equities market ended bearish on Tuesday as sell-off persists in major blue chip stocks. Consequently, The Nigerian Exchange Limited (NGX) All Share Index (NGX ASI) and the market capitalization decreased by 0.69%, while the Year-to-Date (YTD) return stood at 16.22%. According to information provided by the market regulators, the All Share Index […]
EIB President Supports Africa’s Climate Adaptation Projects
European Investment Bank (EIB) has expressed its readiness to collaborate with African governments on accelerating climate adaptation in the continent. The EIB President, Werner Hoyer, made the promise at the Africa Adaptation Summit, the first-ever global summit to focus solely on accelerating climate adaptation in Africa organized by the Global Center on Adaptation (GCA), in […]
LCCI Sets Economic Growth Policy Priorities For FG
Lagos Chamber of Commerce and Industry (LCCI), one of Nigeria’s leading organized private sector (OPS) advocacy groups, on Tuesday set some key priorities for the Federal Government to concentrate on to achieve the objectives of its ongoing economic recovery agenda and by so doing, improve the socioeconomic well being of the citizenry. The OPS group, […]
Tariff Hike: Tribunal Dismisses Suit Against MultiChoice
… orders firm to submit audited financial statement The Competition and Consumer Protection (CCPC) Tribunal sitting in Abuja on Tuesday refused to grant the prayers of a complainant over the recent hike of pay TV subscription rates by MultiChoice, the operator of DStv and Gotv, in the country. The three-member tribunal, headed by Mr […]
Africa Needs $127Bn Yearly For Climate Change Financing Gap – Adesina
The President of African Development Bank Group (AfDB), Dr. Akinwumi Adesina, has projected that Africa would require between $100 billion to $127 billion yearly between now and year 2030 to bridge climate change financing gap in the continent. The AfDB President, who gave these figures on Monday in his paper delivered at the Africa Climate […]