business
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NEWS
Border closure has not violated free trade treaty – Aondoakaa
Former Minister of Justice, Mr Mike Aondoakaa says Nigeria has not violated any treaty regarding free trade among the West African States by closing its borders. Aondoakaa also President, West Africa Rice Development Association (WARDA) stated this while speaking with newsmen on Thursday in Makurdi. “The country is only taking measures to sanitise a filthy development that is almost grounding…
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NEWS
UK court throws out Ogoni suit judgement against Shell
A United Kingdom court recently dismissed the application by some leaders of Ejamah Ebubu community in Ogoniland to register the judgement of a Nigerian Federal High Court in the country for enforcement. Claimants had applied to register the judgement to enforce an N183 billion, which they claimed was the judgement sum and the interest, over the spill incident in the…
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Technology
Report: Foxconn/Huawei seal deal for 50 million 5G Smartphones
Foxconn, the infamous Taiwan-based manufacturing and assembly plant, have received the full order for 2020’s Huawei 5G smartphones. Huawei’s apparently ordered more than 50 million units, which is an absolutely massive number for a 5G smartphone considering how 5G devices are still a fair niche segment of the market. Embattled Huawei, despite all bans and problems, is still the world’s…
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News
Dangote Refinery Becomes World’s Largest Single-Train Refining Column
Capt. Rajen Sachar, Head, Maritime and Ports Infrastructure of Dangote, told newsmen at the arrival of the equipment in Lagos that it was the biggest single-train facility used for refining crude oil, the atmospheric equipment which was manufactured by Sinopec company in China is the primary unit processor of crude oil into fuels. He said: “Crude oil enters the top…
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Agriculture
Anambra Govt Acquires Over Five Hectares of Farmland For Honey Production & Export
The Anambra Government has procured over five hectares of farmland at Igbariam in Anambra East Local Government Area for Bee Plantation and Mass Production of honey for export. Mr Jude Nwankwo, Programme Manager, Anambra Agricultural Development Programme (ADP), made the disclosure while speaking with newsmen on Friday in Awka. Nwankwo said the government hoped to create employment opportunities for the…
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NEWS
Whyte Cleon Debuts With “Cleon Life-After-Work” Experiential Workplace Engagement
Whyte Cleon Limited a leading HR Outsourcing and Consulting company in Nigeria, has announced the soon to commence Entrepreneurial Development Training, designed for its ex-employees. The company’s Chief Executive Officer & Managing Director, Mrs. ‘Nireti Adebayo, said this while addressing press men during the announcement of activities leading to the celebration of the company’s 10th year anniversary, scheduled for the…
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NEWS
Northern Bitcoin Merges With Whinstone
Northern Bitcoin AG (XETRA: NB2, ISIN: DE000A0SMU87) has entered into a merger agreement with its US competitor Whinstone US, Inc. The company already successfully operates its own Bitcoin Mining Site in the US state of Louisiana and is currently building by far the largest Bitcoin Mining Facility worldwide with a capacity of one gigawatt on an area of over 100…
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Technology
Ally Raises $15 Million Series B Funding
Ally, today announces a $15 million Series B funding round led by Tiger Global Management, LLC, a New York based investment firm known for investing in strategic, innovative companies such as Facebook, Flipkart, Slack, and Stripe. Previous investors Accel, Vulcan Capital, and Founders Co-op also participated in this round. Ally helps startups and large enterprises to accelerate business performance through…
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Press Releases
Bank CEOs Applaud NCC’s Decision to Suspend USSD Charges
The Body of Bank CEOs applauds the recent notice from the National Communications Commission (NCC) announcing the immediate suspension of end-user billing for Unstructured Supplementary Service Data (USSD) services. We would like to thank the Federal Government of Nigeria for championing this action. When presented with two options by the telecommunications companies – corporate billing versus end-user billing – banks…
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Technology
Samsung updates software to fix fingerprint recognition problem
Samsung Electronics Co Ltd has updated software to fix problems with fingerprintrecognition features on its flagship Galaxy S10 and Note 10 smartphones, it said on Wednesday. Samsung issued an apology through its customer support app Samsung Members and told its Galaxy phone users to update theirbiometric authentication to the latest software version. A British user told The Sun newspaper that…
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NEWS
Oil steady on weak demand concerns despite U.S.-China trade optimism
Oil prices were little changed Tuesday as lingering worries over a global economic slowdown that could hurt oil demand offset some signs of progress in U.S.-China trade talks. Brent crude oil futures LCOc1 were down 6 cents, or 0.1 per cent to 58.90 dollars a barrel by 03:09 GMT, while U.S. West Texas Intermediate (WTI) crude futures CLc1 were flat…
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NEWS
Negative outlook persists on NSE, market capitalisation down N28bn
The nation’s bourse reopened trading on Monday still on a negative outlook with the market capitalisation dropping by N28 billion. The News Agency of Nigeria (NAN) reports that the market capitalisation closed lower at N12.847 trillion against N12.875 trillion posted on Friday. Also, the All Share Index decreased by 58.54 points or 0.22 per cent to close at 26,390.08 against…
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NEWS
Nigeria’s financial inclusion rate now 63.2% says CBN
The Central Bank of Nigeria (CBN) on Monday said the country’s financial inclusion rate stood at 63.2 per cent in 2018. The bank said this in the 2018 Annual Report on the National Financial Inclusion Strategy Implementation posted on its website. The CBN said the figure showed a marginal increase of 4.8 per cent from 58.4 per cent in 2016…
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NEWS
MTN Nigeria provides a “brighter life” for 510 communities in 454 LGAs
MTN Nigeria Plc, says it has transformed 510 communities in about 454 local government areas in the country. Mr Innocent Entonu, General Manager, Regional Operations (East), said this at a dinner for nominators of “What can we do together’’, organised by MTN Nigeria Plc and the MTN Nigeria Foundation.Entonu, who said that the projects, aimed at providing a “brighter life”…
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Nigeria
Lagos accounts for 38%of N691.11bn IGR in HY2019 — NBS
The National Bureau of Statistics (NBS), says in the first half of 2019, the 36 states and the Federal Capital Territory (FCT) generated N691.11 billion as Internally Generated Revenue (IGR). The NBS said this in its “IGR at State Level for Quarter One and Quarter Two, 2019” report obtained from its website on Friday in Abuja. The data showed that…
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Africa
ECOWAS: Germany commits to job creation, economic growth
The German government on Thursday reiterated its commitment to creating jobs and ensuring sustainable economic growth within the West African sub-region. A statement by the ECOWAS Commission said that Mr. Christoph Rauh, the Director, sub-Saharan Africa, German Federal Ministry for Economic Cooperation and Development reiterated his home government’s commitment at a two-day consultative meeting at the ECOWAS Commission in Abuja.…
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NEWS
AFREXIM bank reels out strategies to facilitate AfCFTA in Nigeria
The African Export Import Bank (AFREXIM) says it has created trade financing programmes to facilitate the implementation of the African Continental Free Trade Agreement (AfCFTA) in the manufacturing sector in Nigeria. Prof. Benedict Oramah, President AFREXIM Bank, made the disclosure at the 2nd Annual General Meeting of the Manufacturers Association of Nigeria – Export Promotion Group (MANEG) on Thursday in…
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