Global technology giant, Google, has affirmed its commitment to invest one billion dollars to improve Africa’s digital transformation. The company’s Chief Executive Officer, Sundar Pichai, who made this announcement during the Google for Africa virtual event on Wednesday, said the investment, which will run for five years, was aimed at improving a range of initiatives […]
The Senate on Wednesday confirmed the Nigerian Upstream Regulatory Commission (NURC) board member-nominees following the recommendations of its committee on Petroleum Resources. The commission, after the inauguration of the approved nominees, will take over the responsibilities of the Department of Petroleum Resources based on the provisions of the Petroleum Industry Act 2021. The Red Chamber’s […]
The Central Bank of Nigeria (CBN) on Wednesday disclosed the country’s payment system attracted about $500 million worth of investments between 2015 and 2020. The apex bank Governor, Godwin Emefiele, gave this hint in his address on the theme, ‘Trends in Nigeria payments system: Regulating the Fintech Digital Playing Field’, at the ongoing CBN’s 31st […]
The Senate on Wednesday approved President Muhammadu Buhari’s revised 2022-2024 Medium Term Expenditure Framework (MTEF). The Upper Chamber had on Tuesday referred the revised MTEF to its Committee on Finance for consideration ahead of the expected Appropriated Bill 2022 presentation by President Muhammadu Buhari on Thursday (October 7) to the joint session of National Assembly. […]
The Nigeria Deposit Insurance Corporation (NDIC) on Tuesday disclosed that as at the end of the second quarter of this year it had paid a total of N11.67 billion in insured sums to 535, 815 depositors of failed banks over the years. The corporation’s Managing Director, Mr. Bello Hassan, made the disclosure during its special […]
The U.S Securities and Exchange Commission (SEC) has charged CanaFarma Hemp Products Corp. and its co-founders with fraudulently raising approximately $15 million from investors, and misappropriating a significant portion of the investor funds for personal use and other unrelated purposes. The SEC’s complaint alleges that in 2019 and 2020, CanaFarma, a Canadian startup hemp company […]
The Central Bank of Nigeria (CBN) has issued regulatory guidelines for Nigeria’s eNaria to guide financial institutions and users on the digital currency’s transactional rules and standards. In the document titled ‘Regulatory Guidelines on the Enaira’, the apex bank stated that the guidelines shall apply to all financial institutions and users of the yet-to-be-launched Nigeria’s […]
The Federal Government has approved zero import duty for interested investors on acquisition of vessels. Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, made this disclosure Tuesday at the maiden edition of the Nigeria International Maritime Summit (NIMS) in Lagos. According to a news report by the News Agency of Nigeria […]
The catastrophe bond and related insurance-linked securities (ILS) market has reached a new all-time-high as the amount of issuance recorded across a twelve-month period to end of September 2021 A news report by artemis.bm, a leading catastrophe bonds, insurance linked securities, reinsurance capital and investment, risk transfer intelligence firm, indicated that the catastrophe bond market […]
Airtel Nigeria, one of the leading telecom operators in the country, on Tuesday announced the appointment of Mr. Godfrey Efeurhobo, its current Home Broadband Director, as the Chief Commercial Officer. The telecom operator stated:“Efeurhobo, whose appointment takes effect on the 18th of October, will report to the Chief Executive Officer and Managing Director as a […]