Yellow Card, the largest and only licensed stablecoin on/off ramp on the African continent, is set to introduce USDC, a digital stablecoin on the Stellar network, an open-source decentralised blockchain network, revolutionising cross-border payments, remittances, and treasury management globally. The initiative is coming as Africa slowly inches towards widespread adoption of digital assets, thereby becoming imperative […]
The Federal Government has announced its partnership with the World Bank Group to raise $3 billion for expansion of broadband infrastructure in the country. The project involves laying additional 120,000km of fibre optic cables across the country. The Minister of Communications, Innovations, and Digital Economy, Dr. Bosun Tijani, who made this disclosure at stakeholders meeting […]
The Nigerian Communications Commission (NCC) at the weekend released the report on number porting in the telecoms industry for November which reflected that MTN Nigeria, the leading mobile network operator (MNO) by subscriber number, recorded 1,470 incoming porting out of the 2,433 in the month. Conversely, 9mobile suffered more customer losses in the month under […]
MultiChoice Group (MCGJ.J), Africa’s largest pay TV conglomerate, disclosed on Thursday that its subsidiary entities in Nigeria had settled a tax dispute with Nigerian tax authorities, thereby agreeing to pay about $37.3 million to the Federal Inland Revenue Service (FIRS). In 2022, the Federal Inland Revenue Service (FIRS) froze MultiChoice Nigeria’s accounts due to its […]
The regional Vice-President for Africa and the Middle East at the International Air Transport Association (IATA), Kamil Al Awadhi, has estimated that the cost of operating airlines in Nigerian airports remain among the most expensive in Africa. Awadhi, who made this remark during an interview on CNBC Africa, disclosed that contrary to reports in the […]
Indications that Central Bank of Nigeria’s (CBN’s) efforts to digitalize the nation’s payment system and achieve a cashless economy are yielding the desired results have emerged with the electronic payment (E-payment) transactions’ value hitting over N600 trillion in 2023. The 2023 e-transactions value represented a huge surge from the N387 trillion transactions recorded in 2022, […]
The Executive Vice Chairman of the National Communication Commission (NCC), Dr. Aminu Maida, has disclosed that the lingering interconnect debt imbroglio between MTN Nigeria and Globacom Nigeria had been amicably resolved through the supervisory mediation of the commission. Maida, who disclosed this on Tuesday at a media briefing in Abuja where he unveiled his vision […]
….To Parley Governors On Excessive Taxes, Levies The Executive Vice Chairman of the National Communication Commission (NCC), Dr. Aminu Maida, on Tuesday unveiled a 5-pillar visionary agenda aimed at ensuring that stakeholders in the nation’s telecommunications industry were satisfied with the quality of services with the attendant implications for attracting more investments into the industry […]
Airtel Africa, one of the leading telecommunication services providers in Africa, has announced plans to buy back $100 million worth of its share from the Nigerian investment market from March this year The company, listed on the Nigerian Exchange (NGX), gave this hint on Thursday as it announced its 9-month financial report for the period […]
The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth projections for 2024 to 3.0% percent from the 3.1 percent it forecasted in October last year, which is far less than the 3.76 percent projected by the Federal Government this year. The Bretton Woods institution gave these figures in its ‘World Economic Outlook Update, January […]