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CPPE warns reversing economic reforms could harm Nigeria’s economy

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Wise resumes naira transfers to Nigeria for the fourth time
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Wise resumes naira transfers to Nigeria for the fourth time

Wise, formerly known as TransferWise, has resumed offering payouts in Naira to Nigerian bank accounts, following a recent change in remittance guidelines by the Central Bank of Nigeria. The London-listed fintech, popular for its low-cost international money transfers, now allows UK customers to send Naira directly to beneficiaries in Nigeria. The decision follows the CBN’s […]

Brazil lifts ban on Starlink, X accounts after fine payment
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Brazil lifts ban on Starlink, X accounts after fine payment

Brazil’s Supreme Court Justice Alexandre de Moraes has lifted the freezes previously imposed on the bank accounts of Starlink and X after ordering the transfer of 18.35 million reais ($3.3 million) from the accounts to the national treasury. The decision came after the full amount of fines owed by X was transferred, according to a […]

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FG stresses importance of policy frameworks to address payment delays

The Federal Ministry of Budget and Economic Planning and the Ministry of Finance have stressed the importance of coordinating policies and payments to meet Nigeria’s financial obligations. The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, highlighted this collaborative effort, aiming to address delayed payments to manufacturers and other critical sectors, according to The […]

Dangote Refinery loses N32.5bn after petrol price cut
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FG begins sale of crude in naira to Dangote refinery

The Federal Government has commenced the sale of crude oil to local refineries, with transactions conducted in Naira in significant development aimed at easing pressure on the Naira, cutting transaction costs, and enhancing the availability of petroleum products The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, announced this breakthrough […]

Trapped funds: CBN to give foreign airlines $150m
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External reserves rise by $424.68m in 11 days – Report

Nigeria’s external reserves saw a notable increase of $424.68 million between August 30 and September 10, climbing from $36.305 billion to $36.730 billion. This 1.17% rise over 11 days reflects a positive trend in the country’s financial situation. After a slight dip to $36.244 billion on September 2, the reserves recovered and matched the August […]

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Caverton Offshore Support’s share price soars by 65% in Sept

Caverton Offshore Support, a prominent marine and aviation logistics firm, has witnessed its share price skyrocket by more than 65% month-to-date on the Nigerian stock market. The company, which serves the oil and gas sector across Nigeria and sub-Saharan Africa, has been buoyed by positive market sentiment following its announcement to integrate electric outboard engines […]

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Binance lists Hamster Kombat token on platform

Binance, the world’s largest cryptocurrency exchange, has officially announced the listing of Hamster Kombat tokens on its platform and has invited the project to participate in the Binance Launchpool. This move is a significant development for the global community of Hamster Token players, who have eagerly anticipated the airdrop. The listing of HMSTR on Binance […]

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NERC imposes N1.69bn fine on AEDC for overbilling customers

The Nigerian Electricity Regulatory Commission has imposed a fine of N1.69 billion on the Abuja Electricity Distribution Company for overbilling its customers from January to September 2023. This penalty results from AEDC’s non-compliance with NERC’s directive to cap estimated billing, according to Nairametrics. The fine, detailed in ‘Order NERC/2024/114,’ was issued on August 30, 2024, […]

News

Govt policies stall $1.2bn subsea gas pipeline project — Dangote

The Vice President of Dangote Industries Limited, Mr. Devakumar Edwin, has revealed that government policies was responsible for the company’s decision to abandon plans for a 1,200km subsea gas pipeline project intended to transport gas from the sea to the shore. This was disclosed by Edwin during a discussion on X organized by Nairametrics. He […]

The British government has entered a strategic partnership with OpenAI, the American firm behind ChatGPT, to enhance collaboration on artificial intelligence
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OpenAI launches ‘strawberry’ AI models to tackle complex prompts

OpenAI, backed by Microsoft, unveiled its latest “Strawberry” series of AI models, designed to spend more time processing answers to handle more complex and challenging queries. According to OpenAI, the new models—referred to as o1 and o1-mini—are capable of reasoning through intricate tasks, showing notable improvements in fields like science, coding, and mathematics compared to […]

BOI extends RAPID funding application deadline for MSMEs
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Bank of Industry gives N3bn to support Katsina businesses

The Bank of Industry has donated N3 billion to Katsina State to support local businesses. The Katsina State Government announced the donation on September 12, 2024, via its official X page, calling it a “significant gesture” for residents. In June 2024, the Bank of Industry announced on Instagram its partnership with the Katsina State Government […]

News

FG provides free CNG conversion at six Lagos locations

The Federal Government’s Presidential Compressed Natural Gas Initiative will allow Lagos residents to convert their vehicles to CNG for free on Friday, September 13, from 3pm to 6pm at six designated locations. The first 50 vehicles at each site that pass inspection will receive free CNG conversion kits. Owners can then refuel at N230 per […]

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