The Board of Directors of the African Development Bank Group (AfDB) has approved a $50 million loan for the Yobe State Environmental and Climate Change Action Project (ECCAP) to enhance climate change resilience, boost food security, and improve livelihoods for over 3.5 million people in North East Nigeria. A news report from African Press Organisation […]
Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has announced the successful close of its largest ever debt facility, a US$1.16 billion syndicated loan, attracting new lenders from the Middle East, Europe and Asia, in its efforts to bridge Africa’s yawning infrastructure gap. A news report from the African Press Organization (APO) […]
Despite some technical challenges associated with fibre optic cables deployment across the country, the Nigerian Communications Commission (NCC) has reported a surging trend in telecom subscribers’ migration to the 4G network, with the rate in January this year surging to 31.75% percent. The telecom industry regulatory commission in its latest report on network adoption rate […]
The Federal Executive Council (FEC) has granted its consent for the disbursement of N60 billion from the Central Bank of Nigeria (CBN) through its Agric Small and Medium Enterprises Investment Scheme to support small businesses, particularly among young entrepreneurs nationwide. A statement issued by the Minister of Youth, Jamila Ibrahim, after the conclusion of the […]
In furtherance of its sustained policy measures to moderate the lingering volatility in the nation’s foreign exchange (FX) markets, the Central Bank of Nigeria (CBN) has hinted that it is allocating $10,000 at N1,251/$ to each Bureau de Change (BDC) operator in the country. In a memo dated March 25, 2024, and addressed to the […]
The Nigerian Copyright Commission (NCC), has filed criminal charges against MTN Nigeria Communications Limited and four others over alleged copyright infringement. The suit with No FHC/ABJ/CR/111/2024 was filed against the mobile network operator at the Federal High Court, Abuja Division on Monday. Other joined as defendants in the suit are the Chief Executive Officer of […]
Ecobank, the pan-African banking group, has formally signed the Women’s Empowerment Principles by UN Women and the UN Global Compact (WEPs), which provide guidance to the private sector on how to advance gender equality and women’s empowerment in the workplace, marketplace and community. The bank’s Group Chief Executive Officer, Jeremy Awori, announced the signing of […]
The Federal Government has revved its current drive to improve production capacity of local companies on electricity meters with the meeting with indigenous manufacturers, assuring them of its readiness to give them support to double their production capacities. The Minister of Power, Adebayo Adelabu, who spoke on the government’s readiness to enhance the nation’s meter […]
Researchers at Bankcorp Securities Limited, a leading investment research and consulting services providing company, have projected that trading on the Nigerian Exchange (NGX) this week will be flattish, with a predominant bearish sentiment characterizing the sessions. The experts, in the firm’s ‘Weekly Stock Recommendation: Mar 25 to Mar 29, 2024’ circulated to our correspondent on […]
The Federal Government has initiated criminal proceedings against Binance, a cryptocurrency exchange platform, in a decisive move aimed at upholding fiscal responsibility and safeguarding the economic integrity of the country, The criminal proceeding charges, filed at the Federal High Court in Abuja, were announced by the Federal Inland Revenue Service (FIRS) in a statement issued […]