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Seplat, Aradel, Oando post ₦7.05trn revenue amid US-Iran

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Manufacturers’ confidence rebounded in Q2 despite operating challenges

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FG unveils Tinubu Light Initiative for one million

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Seplat, Aradel, Oando post ₦7.05trn revenue amid US-Iran war

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Nigerian startup 54gene winds down after raising $45m
News Tech

Nigerian startup 54gene winds down after raising $45m

The genomics startup 54gene has started to wind down operations, TechCabal reported on Wednesday. The startup began the procedure in July 2023. Its website had been taken down by September, and the PR firm that had long served as its representative informed TechCabal that they were no longer employed by 54gene. This statement follows unverified […]

DSS appoints Peter Afunanya new directorates supervisor
Appointments

DSS appoints Peter Afunanya new directorates supervisor

The newly constituted Directorate of Public Relations and Strategic Communications will be led by Peter Nnochirionye Afunanya as its Supervising Director beginning on September 26, 2023, according to a statement from the Department of State Services. The Times reported that the appointment is a part of the secret police’s efforts to strengthen democratic governance, transparency, and […]

Russian court fines Apple over alleged LGBT violations
News Tech

Apple missing as China lists mobile app stores that comply with new rule

China has released the names of the first batch of mobile app stores that have concluded providing business information to authorities. According to the Cyberspace Administration of China, 26 app stores run by companies like Tencent, Huawei, Ant Group, Baidu, Xiaomi, and Samsung have filed paperwork with the authorities. However, the list does not include […]

US drops lawsuit against Binance
News Tech

Binance exits Russia amid war with Ukraine

Binance announced on Wednesday that it will sell its operations in Russia to the recently created exchange CommEX. The crypto platform became the latest company to leave Moscow since Russia started its conflict with Ukraine. The largest cryptocurrency exchange in the world, Binance, withheld the deal’s financial information. According to the corporation, neither a revenue […]

Shopify invests in wholesale platform Faire
News Tech

Shopify invests in wholesale platform Faire

The world’s largest e-commerce platform Shopify is making an investment in the wholesale platform Faire, the firms announced on Wednesday. As part of the arrangement, the start-up will use Shopify technology for its customers. Faire, which was established in 2017 and has a $12.59 billion market cap, will be suggested as the wholesale marketplace for […]

Indonesia bans purchases on social media platforms
News Tech

Indonesia bans purchases on social media platforms

The Indonesian trade minister on Wednesday announced that Indonesia has banned online trade made through social media. The government added that small and medium-sized businesses are at risk from predatory pricing on social media platforms and that the action, which is effective immediately, is intended to protect offline retailers and marketplaces. The decision was made […]

Nigerian Exchange ahead in Africa with 33.70% gain
Business

Exchange rate hits N851/$1 intra-day high, lowest in 60 days

The naira-to-dollar exchange rate ON Tuesday, achieved a two-month intra-day high of N851/$1 in the Investor and Exporter window, the official forex trading platform. The Times reported that this peak was significant since the naira hadn’t reached a higher intraday rate since July 24, when it reached N855/$1. The market turnover increased to $135.9 million on the […]

Chipper Cash lays off UK, US staff
Appointments

Chipper CEO joins Biden’s advisory council

The co-founder and CEO of the dominant African fintech company Chipper Cash, Ham Serunjogi, has been appointed by President Joe Biden to the President’s Advisory Council on African Diaspora Engagement in the United States. According to The Times, Serunjogi is one of the 12 founding members of the Council, according to a statement issued by […]

FCMB raises ₦147.5bn in oversubscribed public offer
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FCMB posts N20.69bn bond on NGX

The Nigerian Exchange Limited has listed a N20.69 billion bond issued by the FCMB Group. According to The Punch, the NGX stated that the lender’s memorandum listing of the bond is under FCMB’s N300bn Debt Issuance Program in a market bulletin sent to capital market operators and signed by the Head, Listings Regulation Department of NGX Regulation, Lilian […]

Access Bank, Qatar airways partner, offer discounted flight tickets
Banking

Access Bank launches agric business desk

Access Bank has stated that with the opening of its Agric business desk, it hopes to ensure food security in Nigeria. The Punch reported that the bank made this statement on Tuesday during the launch of two new business desks: the development banking desk and the agribusiness desk. The Group Head of Commercial Banking, Nsisak Usoro, stated […]

Fuel, electricity tariff cap costly, IMF warns Nigeria
Business

How low inflation, stable exchange rates will draw investors – IMF

The IMF’s resident representative in Nigeria, Ari Aisen, asserts that lower inflation and stable currency rates will draw more foreign investment to the country. According to Arise News, Aisen declared, “Investments may start entering Nigeria if inflation could be reduced and the exchange rate was more stable. For the entire country, there are numerous opportunities sprouting up. […]

Operators lament influx of fraudulent automobile parts
Business

Operators lament influx of fraudulent automobile parts

Experts in the field have emphasized the significance of addressing the present influx of subpar spare parts in the Nigerian automotive industry. The Punch reported that experts claimed that fake parts undermine consumer confidence in the reliability of automotive equipment as well as vehicle safety. According to the Standards Organisation of Nigeria, 95% of the imported car […]

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