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TCN confirms vandalisation of six transmission towers, suspect arrested

Electricity

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Finance

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Energy

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Aviation

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Zenith Bank customers voice frustrations over online banking issues
News Tech

Zenith Bank, AFCTA signs MOU to build smart trade portal

Zenith Bank of Nigeria and the African Continental Free Trade Area have signed a Memorandum of Understanding in order to create a smart platform for trade across the continent. Zenith will contribute $1 million towards the cost of the unified African commercial information platform. During the ongoing 2023 Zenith Bank International Trade Seminar in Lagos, […]

Laptop dealers struggle amidst high costs, low demand
Tech

Laptop dealers struggle amidst high costs, low demand

Laptop prices have surged due to forex scarcity and high inflation, making it difficult for customers to cope with the increased costs. As a result, many prospective buyers turn away when they realize the prices are beyond their budgets, and as such the laptop market in Nigeria is facing tough times, with dwindling sales and […]

Business

W’Bank gives Nigeria, others N254bn solar energy support

The World Bank, Clean Technology Fund, and Dutch Cooperation will fund $338.7 million (N254 billion at the official currency rate of N750.6/$) in solar power projects in Nigeria and other West African nations. The Punch reported that the parties to the agreement are supplying the money to help the ECOWAS member states’ implementation of the regional […]

Snpachat expands more into AI with ‘Dreams’
News Tech

Snapchat under probe for underage users

The British data regulator is gathering data on Snapchat to determine whether the American instant messaging service is taking sufficient steps to block minors from using its services. According to a report by Reuters, social media businesses must obtain parental permission before processing the data of children under 13 in accordance with UK data protection […]

TikTok launches feature for quality sleep amid lawsuits
News Tech

Tech groups join TikTok, tackles ban in US state

Two tech organisations on Monday, joined TikTok in its lawsuit to stop the use of the short-form video sharing app in Montana before it becomes law on January 1st, 2024. In a joint court filing, Chamber of Progress and NetChoice, a national trade association with major tech platforms, claimed that Montana’s attempt to isolate Montanans […]

Coup: Border blockade to affect $226M Nigeria-Niger trade
Business featured

Coup: Border blockade to affect $226M Nigeria-Niger trade

Nigeria-Niger trade worth approximately $226.34 million is at risk of collapsing due to a border shutdown between the two countries. According to The Punch, trade between both countries is being adversely impacted by the recent closing of Nigeria’s border with Niger as a result of a military coup that toppled President Mohammed Bazoum’s democratically elected […]

SMEs blame economy as non-performing loans hit N1.32trn
Business

SMEs blame economy as non-performing loans hit N1.32trn

Data acquired from the Central Bank of Nigeria has revealed that the total amount of non-performing loans held by banks hit N1.32 trillion by the end of April 2023. According to The Punch, data from the CBN show that this amount accounted for 4.3% of the N30.64 trillion in total credit given to the banking industry. Following […]

Nigeria's unemployment rate rises by 0.8% in Q3 2023
Economy

Nigeria sits top of global unemployment rating – Report

Nigeria has the highest rate of unemployment according to a review of the most recent information made available by the World of Statistics. According to The Punch, Nigeria had the highest percentage (33.3%), followed by South Africa (32.9%), also an African nation, and Iran (15.55%). The survey also showed that the countries with the lowest unemployment […]

UBA begins $6bn project to support African SMEs
Banking

UBA hails customers, introduces benefits

The United Bank for Africa Plc, Africa’s Global Bank, has promised consumers a spectacular summer treat with the recent launch of exceptional privileges and discounts attached to its cards during this period. According to The Punch, it added in a statement that between now and the end of August 2023, consumers would be able to […]

How increased electricity access will drive investment - Seplat
Oil and Gas

Seplat gas revenue hits $63.7m H1 2023

Seplat Energy Plc, an indigenous energy firm, increased its gas revenue by 10.21% to $63.7 million in the first half of 2023 from $57.8 million in the same period of 2022. The Punch reported that the increase in petrol revenue, according to a statement issued by the group on Monday, was the result of higher […]

Meta tests in-house AI chip to reduce reliance on Nvidia
News Tech

Norway fines Meta over privacy violations

Norway’s data protection regulator said that Facebook owner Meta Platforms will be penalised 1 million crowns ($98,500) each day for privacy violations as from August 14. “As of next Monday, a daily fine of 1 million crown will start to apply,” head of Datatilsynet’s international section, Tobias Judin, told Reuters. On July 17, the company’s […]

First Bank restates commitment to support FMCG wholesalers
Business

First bank shareholders stage protest against annual meeting

Some shareholders demonstrated at FBN Holdings’ headquarters on Monday against an attempt to prevent the financial company from holding its Annual General Meeting as planned. Minority shareholders assembled in front of the headquarters held placards and urged that the institution be let fulfill its legal obligation to host AGMs. The head of the Trusted Shareholders’ Association, Mukhtar Mukhtar, spoke […]

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