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EFCC defends Osun account freeze, cites N11bn probe

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Osun to sue EFFC over frozen account

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US introduces $250,000 visa bond rule for some applicants

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FG to submit 2024 budget in October
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FG to submit 2024 budget in October

The Ministry of Budget and Economic Planning has stated that the 2024 budget will be submitted to the House of Assembly by the end of October. The Government Integrated Financial Management Information System – Budget Preparation Sub-System will be used to prepare the 2024 budget, according to the Director-General of the Budget Office of the Federation, […]

Binance's head of product Mayur Kamat resigns
News Tech

Binance’s head of product Mayur Kamat resigns

Mayur Kamat, the global head of product for Binance, has left the cryptocurrency exchange amid a wave of executive departures and employment cuts. Kamat’s departure from Binance comes after a recent management exodus that also involved General Counsel Hon Ng and Chief Strategy Officer Patrick Hillmann. In recent months, the Bitcoin exchange has been under […]

Tinder explores redesign, features to boost engagement
News Tech

Russian court fines Tinder over refusal to localize user data

The Match Group, the parent company of dating app Tinder and the live streaming service Twitch, has been fined by the Russian Justice on Monday for refusing to locate the servers containing the personal information of Russian users in Russia. According to judicial sources, Justice of the Peace Timur Vajrameyev of Moscow’s 422nd District penalized […]

Health startup mPharma lays off 150 workers
News Tech

Health startup mPharma lays off 150 workers

A Ghanaian health startup, mPharma, which supply of prescription drugs for pharmacies and their suppliers, has let go some of its employees. “We took the difficult decision to right-size the team,” Gregory Rockson, the company’s CEO, told TechCabal. The layoffs are in light of the current macroeconomic conditions driven by the devaluation of the naira.” […]

Banks announce nationwide strike from Tuesday
News

Banks announce nationwide strike from Tuesday

Nigerians have been put on high alert as banks, telecoms, and electrical workers have decided to join the NLC strike and go on a two-day strike. Nigerians are urged to withdraw money on Monday in order to avoid being stuck over the next two days. Employees working in the banking, insurance, telecom, and power industries […]

Oando acquires 100% Italian-owned NAOC
News Oil and Gas

Oando acquires 100% Italian-owned NAOC

Nigerian energy company, Oando Plc, has agreed to buy all of the shares of Eni, an Italian oil and gas company, including Nigerian Agip Oil Corporation Limited. The completion of the transaction is contingent upon ministerial clearance and other necessary regulatory approvals, according to a statement made on Monday and signed by the company secretary, […]

Business

NESG, others partner to increase food fortification

The Nigerian Economic Summit Group, collaborated with eHealth Africa and the Civil Society Legislative Advocacy Centre, on Thursday to propose a solution for boosting food fortification in Nigeria’s food sector in response to the rising number of cases of malnutrition and food poisoning-related illnesses and deaths in the country. Vanguard reported that this happened when […]

Business

NESG, others partner to increase food fortification

The Nigerian Economic Summit Group, collaborated with eHealth Africa and the Civil Society Legislative Advocacy Centre, on Thursday to propose a solution for boosting food fortification in Nigeria’s food sector in response to the rising number of cases of malnutrition and food poisoning-related illnesses and deaths in the country. Vanguard reported that this happened when […]

Nigerian fintech Anchor raises $2.4M to expand product offerings
News Tech

Nigerian fintech Anchor raises $2.4M to expand product offerings

A Nigerian banking-as-a-service provider, Anchor has raised $2.4 million in seed funding to scale their product offerings. Goat Capital, founded by Justin Kan, served as the lead investor in the financing round. FoundersX, Rebel Fund, and other previous investors, such as Y Combinator and Byld Ventures, also participated. The fintech company received over $1 million […]

Huawei establishes cloud centre in Saudi Arabia
News Tech

Huawei establishes cloud centre in Saudi Arabia

Huawei Technologies has established a cloud data centre in Riyadh, the capital of Saudi Arabia in an effort to expand its online service offerings in the Middle East and North Africa. According to a business official during a conference, the cloud data centre in Riyadh, Huawei’s 30th globally, would serve government services for the Saudi […]

GTCO hits N433bn profit in Q3 2023
Banking

GTCO increases profit, asset value to N355.5tn

The earnings before tax for Guaranty Trust Holding Company Plc increased to N327.4 billion in the first half of the 2023 fiscal year. The Group made this disclosure in a statement to the Nigerian Exchange Group and London Stock Exchange on Sunday on its audited consolidated and separate financial statements for the period ended June […]

EFFC Dangote raid crashes Nigeria dollar bond one week - Bloomberg
Business

Dangote subsidiaries pay N474bn in taxes over three years

Dangote Industries Limited increased the Federal Government’s tax base by remitting over N474 billion in taxes over the course of three years. The Punch reported that they are all listed on the Nigerian Exchange Limited’s floor: Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc. An analysis of the remittances revealed that the […]

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