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Domestic transactions on NGX hit record ₦10.68trn in July

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DStv, GOtv users lament activation delays as EPL returns

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CBN grants six-month extension for BDCs recapitalisation

The Central Bank of Nigeria has extended the deadline for Bureaux De Change operators to meet recapitalisation requirements by six months, according to the Association of Bureaux De Change Operators of Nigeria. ABCON President, Aminu Gwadabe made this disclosure during a virtual general meeting with members on Monday, stating that the new deadline for compliance […]

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Zoom raises profit forecast amid strong hybrid work demand

Zoom Video Communications raised its fiscal 2025 revenue and adjusted profit forecast on Monday, citing robust demand for its online video conferencing software as companies increasingly adopt hybrid working models. The company also announced a $1.2 billion expansion of its share repurchase program. Despite a positive earnings outlook, Zoom’s shares dipped approximately 3% in after-hours […]

SEC to strengthen borrowing regulatory framework in Nigeria
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Nigerian banks, others raise N2.7tn from capital market, reports SEC

The Securities and Exchange Commission announced on Monday that Nigerian banks and other companies have raised a total of N2.7 trillion from the capital market in the first 11 months of 2024. The funds were generated through various investments, securities, and financial instruments, aimed at expanding business operations, supporting economic growth, and enhancing market activities. […]

FG unveils plan to revamp cooperative sector, targets $1trn economy
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CBN extends BDC operators recapitalisation deadline by six months

The Association of Bureaux De Change Operators of Nigeria has announced that the Central Bank of Nigeria has extended the deadline for Bureau de Change operators to meet the new recapitalisation requirements by an additional six months. This extension, confirmed by ABCON President Aminu Gwadebe during a virtual general meeting on Monday, moves the new […]

PalmPay names ex-Opay exec Femi Hanson as Marketing head
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PalmPay names ex-Opay exec Femi Hanson as Marketing head

Pan-African fintech firm PalmPay has appointed Femi Hanson as the new head of marketing and public relations for its Nigerian subsidiary. With a wealth of experience in the fintech sector, Hanson previously led the marketing teams at Nigerian fintechs OPay and Moni, bringing five years of industry expertise to his new role. Hanson will spearhead […]

Microsoft Outlook, Teams suffer widespread outage
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Microsoft Outlook, Teams suffer widespread outage

Microsoft has confirmed that a fix has been deployed to restore email and calendar services to thousands of users worldwide, following a significant outage reported on Monday morning. However, the exact timeline for full restoration remains unclear. As of 10:30 a.m. EST, over 2,100 users had reported issues with Microsoft 365 on the website Down […]

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Coffee prices soar to highest levels since 1997

Coffee futures in New York have surged to their highest levels since 1997, driven by concerns over crop shortages in major producing countries. Arabica coffee, known for specialty brews, climbed 3% on Monday, while robusta prices have also hit a 1970s high. These price increases are largely due to supply disruptions in key coffee-growing regions […]

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NEC urges states to utilize NASENI innovation for industrialization

The National Economic Council has urged state governments to adopt and support technological innovations developed by the National Agency for Science and Engineering Infrastructure. The Council emphasized that patronizing local technology is crucial to accelerating Nigeria’s industrialization. NASENI’s Director of Information, Olusegun Ayeoyenikan, in a statement on Monday said that Vice President Kashim Shettima made […]

Apple to fix iPhone 15 overheating software issue
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Indonesia rejects Apple’s $100m offer, maintains iPhone 16 sales ban

Indonesia has rejected Apple’s $100 million investment proposal, deeming it insufficient to meet the country’s 40% local content requirement for smartphones. The ban on iPhone 16 sales, implemented in November, is part of a policy aimed at boosting domestic manufacturing and supply chains. Industry Minister, Agus Gumiwang Kartasasmita confirmed the decision during a press briefing, […]

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Developing nations slam UN’s $300bn climate deal as insufficient

Developing nations have criticized the UN’s $300 billion climate deal, claiming it falls short of what is needed. Representatives from developing nations have voiced their dissatisfaction with the UN climate agreement, which designates $300 billion each year to fight climate change. The agreement, which aims to support poorer countries in tackling climate change, was reached […]

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FG announces plans for privatization of refineries

The Federal Government has announced plans to fully privatize its state-owned refineries, including those in Port Harcourt, Warri, and Kaduna. This was disclosed in a statement by the Special Adviser to the President on Media and Public Communications, Sunday Dare, in a bulletin shared on Sunday via his official X (formerly Twitter) handle. The statement […]

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