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Finance ministry demands legal basis for N680m NAICOM

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NGX listed firms earned ₦179.5bn finance income in

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Nigeria’s monthly data consumption hits record 1.5mTB in

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NITDA urges regulatory collaboration to support emerging technologies

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Nvidia unveils Nemotron 3.5 lightning as open-source AI debate

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Anthropic to watermark AI-generated text under new EU rules

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Spotify introduces ‘AI Persona’ labels for AI-generated artists

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Naira decline: Senate begins interactive session with Cardoso

Juliet Buna The Joint Senate Committee on Finance, Banking, Insurance and Financial institutions has started interactive session with the Economic Management Team including officials of the Central Bank of Nigeria led the Governor, Yemi Cardoso. This comes amid pressing concerns about the state of the economy and the sharp decline of the naira in the […]

Baidu unveils AI video generator, revamps search engine
Tech

Baidu partners Lenovo to make AI smartphones

In an effort to find useful uses for its artificial intelligence model, China’s Baidu has teamed up with Lenovo to integrate its generative AI technology into Lenovo devices. This is the company’s most recent partnership with a phone maker. Lenovo will use its Ernie big language model in the agreement, which is similar to the […]

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CBN releases updated rules for consumer protection

The Central Bank of Nigeria released an exposure document for revised consumer protection regulations yesterday. The legislation was established, according to the central bank, because of the substantial changes in the financial sector that expose customers to new risks and challenges. “The review of the 2019 Consumer Protection Regulations was necessary to safeguard the interests […]

Nigeria to produce food worth €62bn by 2024 - Report
News

Nigeria to produce food worth €62bn by 2024 – Report

Nigeria will produce 48 per cent more food, or €62.6 billion, between 2021 and 2024, according to OTACCWA and Fairtrade. The Nigeria Agrofood and Plastprintpack trade exhibition organizers, Fairtrade and OTACCWA, said in a statement that the country’s food output increased from €26 billion in 2016 to €36.3 billion in 2020, a 39.6% improvement. According […]

News

NNPCL board authorizes transfer of dollar revenue to CBN

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, revealed on Thursday that the Central Bank of Nigeria has established a department to handle transactions involving the sale of crude oil by the company. The PUNCH reported that the decision to shift a sizable chunk of the company’s revenue to the central […]

Equities market investors lose N481bn as glory trend continues
News

Equities market investors lose N481bn as gloomy trend continues

Equity market investors lost about N481 billion at the end of trading on Thursday due to sell-offs and declining interest. The PUNCH reported that the yield on the one-year Nigerian Treasury Bill increased to 19% on Wednesday as a result of investors in Nigeria shifting their focus to Treasury Bills during the country’s main market auction. […]

Nigeria, Germany partner on SME growth
News

Nigeria, Germany partner on SME growth

Nigeria and Germany have decided to work together more closely in order to support the country’s micro, small, and medium-sized businesses. The News Agency of Nigeria reported that the Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, made these remarks in Abuja at a bilateral meeting between her ministry and the German Ministry of Economic Development. […]

Banks dollar sale drops as naira falls to N1,479
Banking

Banks dollar sale drops as naira falls to N1,479

Data collected on Thursday from FMDQ Exchange indicated that the total value of transactions registered at the official Nigerian Autonomous Foreign Exchange Market decreased from $465.29 million on Tuesday to $203.93 million on Wednesday. The PUNCH reported that this shows that the volume and value of transactions on NAFEM, the official FX market, have decreased […]

Flutterwave, has laid off half of its workforce in Kenya and South Africa as part of a broader cost-cutting strategy
Tech

Flutterwave to recover $24m lost to illegal POS transactions

Nigerian fintech, Flutterwave has moved to reach over 6,000 account holders across 35 banks and financial institutions in an attempt to retrieve ₦19 billion (*$24 million) that POS merchants fraudulently moved following a High Court decision on February 1. This is coming less than a year after reports suggested that the company was hacked through […]

has presented its 2024 Regulatory Impact Assessment, a comprehensive review aimed at overhauling existing telecom regulations
Telecommunications

MTN, Globacom resolve interconnect debt dispute

Telecommunication companies, MTN Nigeria and Globacom Limited have resolved their interconnect debt dispute, the Nigerian Communications Commission said on Thursday evening. Director of Public Affairs at the NCC, Reuben Mouka, stated in a statement that the commission has officially withdrawn the approval for MTN to disconnect Globacom. This action follows the resolution of the dispute […]

NNPC, First E&P provide free healthcare in host communities
Oil and Gas

NNPCL debunks plans to increase fuel price

The Nigerian National Petroleum Company Ltd. has refuted reports that Premium Motor Spirit, also referred to as petrol, could soon see a price increase. Some drivers have recently had trouble purchasing petrol at petrol stations due to concerns that the government may raise the cost of this essential commodity. Long lines started to reemerge at various […]

Canal+ aims for increased stake in MultiChoice
Business

MultiChoice to pay FIRS $37.3m as tax settlement

The largest pay TV company in Africa, MultiChoice Group, announced on Thursday that a tax issue involving one of its subsidiary companies and Nigerian tax authorities had been resolved. A tax payment of approximately $37.3 million is required as part of the settlement. Recall that in 2022, MultiChoice Nigeria’s accounts were frozen by the Federal […]

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