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Tag: Nigeria

FCMB raises ₦147.5bn in oversubscribed public offer
Banking

FCMB reports gross earnings of N516.8bn in 2023

FCMB Group Plc has released its unaudited annual report and financial statements for fiscal year 2023. The Times reported that the group’s gross earnings for the year was N516.8 billion, up 82.6% from FY 2022. The firm enjoyed improved interest revenue, with a net interest income of N177.42 billion in 2023, up 45.4% from 2022. It also […]

Moniepoint records 5.2bn transactions in 2023
Tech

Moniepoint records 5.2bn transactions in 2023

Nigeria’s payments startup Moniepoint ended 2023 with 5.2 billion transactions over its online, mobile, card, and in-person payment channels, averaging 433 million transactions each month, according to TechCabal. The transactions totaled more than $150 billion in value. Compared to 2022, when the startup did 1.7 billion transactions valued at over $100 billion, that is a […]

Lagos unveils plan to tax remote workers to generate N200bn
Aviation

Lagos State considers building own airline

Lagos State has considered establishing an airline for passenger operations as it prepares to begin construction of its own airport in Lekki. According to Arise News, Governor Babajide Sanwo-Olu disclosed the idea on Thursday during the Lagos West Senatorial District People’s Town Hall Meeting. Sanwo-Olu said that the proposal had been in the pipeline for […]

Salesforce acquires Informatica in $8bn deal
Tech

Salesforce cuts workforce by 700

Salesforce is reducing its workforce by approximately 700 positions, accounting for about 1% of its global employee base, as per a Friday report by the Wall Street Journal. Despite this reduction, Salesforce currently has around 1,000 vacancies across various departments, suggesting that this move might be a strategic realignment of its human resources, as indicated […]

Meta launches AI voice translation on Facebook, Instagram
Uncategorized

Meta moves to protect teenage users from unwanted messages

Meta is enhancing its protective measures for teenage users on Instagram and Facebook, aiming to shield them from unsolicited direct messages, the company announced on Thursday. This initiative follows shortly after Meta, which also owns WhatsApp, committed to concealing more content from teenage users. This decision was influenced by regulatory pressures urging the globally dominant […]

FG advocates for strict regulation of tobacco industry
Business

FG advocates for strict regulation of tobacco industry

The Federal Government has emphasized that the tobacco sector must be strictly regulated in conformity with national legislation and international best practices. The PUNCH reported that the coordinating Minister of Health and Social Welfare, Prof. Ali Pate, announced this recently in Lagos during the formal lunch of the Federal Competition and Consumer Protection Commission’s tobacco control […]

NGX to draw in more investors - CEO
featured

NGX to draw in more investors – CEO

The Group Managing Director and Chief Executive Officer-designate of the Nigerian Exchange Group Plc, Temi Popoola, has presented a strategy for bridging the gap between Nigeria’s millions of bank accounts and the existing number of market investors. Popoola, who took over the exchange’s leadership on the final trading day in 2023, made the remarks on […]

Nigeria, Morocco speed up talks on $30bn gas pipeline
Oil and Gas

Nigeria, Morocco speed up talks on $30bn gas pipeline

The Federal Government has stepped up talks with the Kingdom of Morocco in an effort to expedite the process of reaching a Final Investment Decision on the $30 billion Nigeria-Morocco Gas Pipeline. According to The PUNCH, both countries discussed the agreement on the sidelines of a meeting between the Minister of State for Petroleum Resources, […]

Special Economic Zones amass $66bn foreign investment - Report
Business

Special Economic Zones amass $66bn foreign investment – Report

Nigeria’s Special Economic Zones have received more than $66 billion in foreign direct investment and N620 billion in domestic direct investment. The PUNCH reported that the Chairman of the Nigeria Economic Zones Association, Nabil Saleh, said this at the association’s annual general meeting on Wednesday in Lagos. He stated that the investments have resulted in the creation […]

FG, AfDB discuss Coastal, trans-sahara highway projects funding
Investment

AfDB to partner Enugu govt on investment drive

The African Development Bank has reiterated its willingness to collaborate with the Enugu State Government to increase investment and infrastructure development. The PUNCH reported that during a meeting with Governor Peter Mbah at Government House, the Director-General of AfDB’s Nigeria Country Department, Lamin Barrow, stated that Nigeria was crucial to AfDB’s programs. According to him, the first […]

Microsoft lays off 1,900 staff from gaming division
Tech

Microsoft lays off 1,900 staff from gaming division

Microsoft said on Thursday that the company will be laying off 1,900 staff from Activision Blizzard and Xbox this week. The majority of the layoffs, which amount to around 8% of the whole Microsoft Gaming division, will be made at Activision Blizzard. Along with the departure of Chief Design Officer Allen Adham and Blizzard President […]

Apple to allow downloads outside App Store
Uncategorized

Apple to allow downloads outside App Store

Apple on Thursday made its plans to let app developers distribute their products to EU consumers outside of Apple’s App Store. The action is in response to the Digital Markets Act, a new EU law that mandates, among other things, that businesses with a market capitalization of 75 billion euros ($82 billion) or more and […]

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