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ADC To Expand Enterprise-Support Operations To Nigeria, Ghana, Others

….draws down $80mn to deepen operations in S/Africa Africa Data Centres (ADC), a business of Cassava Technologies, a pan-African technology group, has drawn down the first tranche of USD 83 million out of the USD 300 million strategic investment from the United States International Development Finance Corporation (DFC) approved in 2021. The initial tranche is […]

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SEC Seeks Tax Exemption On Corporate Bonds

…to launch revised Capital Market Masterplan in November The Securities and Exchange Commission (SEC) Nigeria has urged the Federal Government to consider its proposal to exempt corporate bonds from the payment of tax. The Director-General of the commission, Mr. Lamido Yuguda made the plea at the weekend during a press briefing on the outcome of […]

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Reps Order CAC, FIRS To Supply Details Of N18Bn Bush-Clearing Firms

Nigeria’s House of Representatives Committee on Public Accounts has ordered the Corporate Affairs Commission (CAC) and the Federal Inland Revenue Service (FIRS) to provide the details of the companies  involved in the N18 billion bush-clearing contracts of the Federal Ministry of Agriculture and Rural Development (FMARD). The committee’s chairman, Hon. Oluwole Oke, gave the directive […]

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Subscribers To Start Using USSD Code For eNaira Transactions – CBN

….as transactions on platform hit N4bn The Central Bank of Nigeria (CBN) on Thursday disclosed that effective from next week, Nigerians can subscribe to the eNaira using short codes as part of its efforts to improve the acceptability of the digital currency. The Central Bank Governor, Godwin Emefiele, who gave this hint during the eNaira […]

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CBN Raises Interest Rate On Intervention Loans To 9%

In furtherance of its sustained monetary measures to boost the nation’s economic performance, the Central Bank of Nigeria (CBN) has increased the interest rate for intervention loans from 5% to 9%, effective from July 2022. The apex bank, which disclosed this in a press release titled ‘Adjustment Of Interest Rate On All Central Bank Of […]

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Emirates Airlines To Suspend Flights From Nigeria Effective 1st Sept

“Emirates Airlines on Thursday announced that it would suspension of all flights from Nigeria with effect from September 1, 2022 to reduce its losses and negative impact the plying of the nation’s route is causing its operations. The management of the carrier, in a statement disclosed that the latest option was adopted after several moves […]

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TCN Urges Electricity Workers To Suspend Planned Strike

The Transmission Company of Nigeria (TCN) has appealed to electricity workers to suspend their proposed indefinite strike action scheduled to kick off from today (Wednesday) nationwide. The company’s Managing Director, Dr. Sule Abdulaziz, made the appeal in a letter to the workers after the National Union of Electricity Employees (NUEE) in a circular on Monday […]

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Nigerian Digital Bookkeeping Firm Raises $5.5Mn In Seed Round

A Nigerian digital bookkeeping platform for traders, Pastel, on Monday disclosed that it had raised $5.5 million seed round for new product offerings and tools for small businesses. The round, which was led by pan-African venture capital firm TLcom Capital, included other VC companies such as Global Founders Capital (GFC), Golden Palm Investments, DFS Labs, […]

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SEC Restates Commitment To Investor Protection

The Securities and Exchange Commission (SEC) Nigeria has restated its commitment to the protection of investors in the Nigerian capital market as a strategic option of building investor confidence in the bourse and by implication, deepen its capitalization. The commission’s Executive Commissioner (Operations), Mr. Dayo Obisan, reiterated this when he received a delegation from the […]

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NITDA, ICPC Open Hackathon Application To Curb Financial Frauds In MDAs

The National Information Technology Development Agency (NITDA) in collaboration with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), has opened the 2022 Hackathon application to address Illicit Financial Flows (IFFs) in federal ministries, departments and agencies (MDAs). Hackathon is an event in which a large number of people meet to engage in collaborative […]