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How mobile subscriptions hit 4.61 million in 2022 - NCC
Telecommunications

How mobile subscriptions hit 4.61 million in 2022 – NCC

New industry figures from the Nigerian Communications Commission show that mobile subscriptions have increased by 4.61 million, reaching 226.84 million in 2022. The Punch reported that this continues the upward trend in the telecommunications industry that has been seen since 2022. In February 2023, the total number of mobile subscriptions rose to 226.84 million from […]

CBN, NiMet collaborate on food security
News

CBN, NiMet collaborate on food security

In order to increase the nation’s food security, the Nigerian Meteorological Agency and the Central Bank of Nigeria have signed a Memorandum of Understanding. According to the News Agency of Nigeria, when a delegation from the CBN visited NiMet on Monday in Abuja, NiMet’s Director-General, Prof. Mansur Matazu, announced that the cooperation will raise Nigerians’ […]

Why stakeholders must create sustainable insurance policy
Insurance

Why stakeholders must create sustainable insurance policy

Vanessa Anetoh   The Institute of Loss Adjusters of Nigeria has stressed the need for stakeholders to develop sustainable insurance policies in Nigeria’s risk industry. This was disclosed over the weekend at the ILAN’s 13th president’s investiture in Lagos State. Guardian reported that the approach aims to equip industry players with the necessary tools to […]

Transportation

Nigeria gets Afreximbank’s $350k to develop inland waterways

The African Export-Import Bank has donated $350,000 to maximize the use of transportation on Nigeria’s interior waterways. According to The Sun, the African Export-Import Bank, the Nigerian Export-Import Bank, the Federal Ministry of Transportation, and the Nigerian Navy have joined forces to chart the Lower River Niger to improve water transit in Nigeria. The Lower […]

Bob Iger, CEO, Disney, during CNBC interview, Feb. 9, 2023.
Business

Walt Disney begins lay off 7,000 workers

Alex Omenye Entertainment company, Walt Disney has begun to lay off 7,000 employees on Monday. According to the letter sent to employees by Chief Executive Bob Iger and obtained by Reuters, the layoff became necessary as the company seeks to control costs and create a more “streamlined” business. According to a person familiar with the […]

An aircraft packed-Diamond aircraft
Business

Top aircraft maker Diamond considers investment in Nigeria

A leading aircraft manufacturer, Diamond Aircraft, has announced its plans explore the market potentials in Africa and establish strong presence in Nigeria. According to The Punch, this was said last weekend by the Chairman, Diamond aircraft, Bin Chen, during his team’s visit to Nigeria’s Minister of Aviation, Hadi Sirika. In his words, “We are excited […]

South African rand bows to rising dollar
News

South African rand bows to rising dollar

South Africa’s rand experienced a decline on Monday against a strengthening US dollar, with investors anticipating the central bank’s verdict on monetary policy later this week. As of 06:35 GMT, the rand was trading at 18.2050 versus the dollar, reflecting a decrease of 0.26% from its previous close. In contrast, the dollar index, which measures […]

Silicon Valley Bank
Business

First Citizens to buy part of collapsed Silicon Valley Bank

The U.S. Federal Deposit Insurance Corporation said Monday that First Citizens Bank & Trust Co will buy Silicon Valley Bank’s deposits and loans. CNBN reported that this information was revealed in a press release by FDIC after over two weeks since the SVB bank became defunct and shut down by regulators. According to the statement, […]

Foreign airlines increase airfare by 20%
featured

Foreign airlines increase airfare by 20%

          Findings has revealed that International airfares has increased by 20% after foreign airlines raised the exchange rate for ticket sale from N462 per dollar to N551 per dollar. According to The PUNCH, foreign passengers flying on Nigerian routes have been paying higher costs after airlines restricted their inventory of lower-cost […]

Workers are participating in industrial action - Strike
Business

Germany transport workers to strike over high inflation 

Germany’s transport staff are set to begin the largest strikes in decades on Monday, which will severely disrupt mass transport and airports. According to Reuters, the industrial action is a result of soaring inflation, which has hit Germany particularly hard due to its dependence on Russia for gas before the war in Ukraine. The strikes, […]

CBN opens eNaira to USSD transaction
E-commerce featured

E-naira’ll reduce naira scarcity – CBN

The Special Assistant on Payment to the Governor of the Central Bank, Mary Fasheitan, has said that the usage of the digital naira (eNaira), will address the current cash scarcity in the country.   The News Agency of Nigeria reported that Fasheitan said this while addressing traders and people of the state in Akure on […]

NASENI's solar-powered bikes, others commendable - Senate
Electricity News

NASENI launches $325.8m solar cells plant project

The National Agency for Science and Engineering Infrastructure’s Executive Vice Chairman and Chief Executive Officer, Prof. Mohammad Sani Haruna, announced on Wednesday that the organization has started construction on a $325,860,690 solar cell manufacturing facility in an effort to make electricity more affordable. In the country’s energy sector, he claimed, the facility is a game changer. […]

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