News Technology

CBN Unveils Fintech Plans

The Central Bank of Nigeria (CBN) has detailed its ongoing interactions and regulatory measures for financial technology companies (fintechs). CBN Governor Olayemi Cardoso provided this explanation during a press briefing in Abuja yesterday, where he announced a new interest rate. To combat inflation and stabilize prices, the CBN raised its benchmark interest rate, the Monetary […]

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Presidency Deems Current Electricity Tariff Unfeasible

Federal Government Plans to End Electricity Subsidy for 15% of Consumers The Federal Government has unveiled intentions to eliminate electricity subsidies for 15% of consumers, aiming to trim its hefty N3.3 trillion expenditure and save approximately N1.1 trillion annually. This announcement was made by Bayo Onanuga, the President’s Special Adviser on Information and Strategy, to […]

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Federal Government Directs Rail Line Connection to Port Harcourt and Onne Ports

Minister of Transportation, Saidu Alkali Federal Government Orders Rail Line Connection to Port Harcourt and Onne Ports The Federal Government has instructed the linking of the Port Harcourt-Aba rail line, currently in the final stages of construction, to the Port Harcourt and Onne Ports in Rivers State to facilitate freight operations. Senator Saidu Alkali, the […]

Health News Politics Technology

Buhari inaugurates N21bn Aso Villa Medical Centre.

  The facility spans a total floor area of 2,485 square metres.President Buhari inaugurates N21bn specialized intensive care facility for VIPs; accompanied by First Lady Aisha Buhari and government officials at the State House Medical Centre in Abuja. New N21bn facility offers specialized intensive care for president, vice-president, immediate families, and VIPs. Spans 2,485 sqm, […]

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NCC warns traders about potential risks from phone calls and apps.

The Nigerian Communications Commission (NCC) has revealed numerous online fraud methods that can defraud traders and the general public. Traders have been cautioned by the commission to be cautious of various online strategies that target them for fraudulent activities. These revelations were made by the commission during its telecom consumers sensitization program, titled “Shine Your […]

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Nigeria Aims for 30GW Electricity Generation by 2030, Says President Buhari

  President Buhari launches Kashimbila multipurpose dam, announces readiness of Zungeru and Dadinkowa power plants for inauguration. President Muhammadu Buhari has inaugurated the Kashimbila Multipurpose Dam, 40MW Hydropower Station, and associated infrastructure in Taraba State. The project aligns with the government’s goal of achieving 30GW electricity generation by 2030. It is part of the Electricity […]

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Treatment of wastewater in Nigeria’s oil fields is failing, raising the risk of health hazards

    The water that comes out of the ground along with oil and gas during oil and gas exploration and production operations is anything but clean. Oil Well Structure. This wastewater, known as “produced water”, is often heavily contaminated with salt, oil and grease, as well as potentially dangerous compounds. Some are linked to lung, skin […]

Business News Technology

Innoson exports $4.7m made-in-Nigeria vehicles to Sierra Leone

THE first batch of vehicles manufactured for the government of Sierra Leone by Innoson Vehicle Manufacturing Ltd., IVM, has been delivered to the West African country by the Nnewi-based indigenous automaker. The vehicles, which arrived in Freetown on November 21, 2022, were built to order by Sierra Leone’s Ministry of Defence. The request for the […]

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NNPC Failed to Contribute to Federation Account in March

The Nigerian National Petroleum Company as failed to remit any money to the federation account, a joint pool operated by the Federal, State and Local governments in the country in March.With the inability of the national oil company to contribute last month, Which means since this year, the NNPC has not funded the statutory joint […]

News Technology

FX inflows to Nigeria up 64% on Eurobond, IMF cash

Total foreign exchange (FX) inflow into the Nigerian economy increased sharply to $30.2 billion in the third quarter (Q3) 2021 from $18.4bn in the preceding quarter, according to the data from the Central Bank of Nigeria (CBN) statistical bulletin. The sharp rise in inflows into the economy was mostly due to a 158 percent q/q […]

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Nigeria-based anti-counterfeiting startup, Chekkit raises $500k pre-seed funding

Nigeria-based anti-counterfeiting startup, Chekkit Technologies, has announced a $500,000 pre-seed round as it looks to expand its team and technological infrastructure.  As contained in its statement, it aims to “save more lives and further secure the FMCG — fast-moving consumer goods — and pharmaceutical industries.” Pan African VC, Launch Africa, Japan Strategic Capital, Blockchain Founders Fund and two syndicate groups […]

News Technology

Nigeria’s Twitter ban and the regulation of social media by other means

Federal Government of Nigeria, through its Minister for Information, Lai Mohammed, announced an indefinite suspension of Twitter’s services in Nigeria On Friday, 5th June, the Federal Government of Nigeria, through its Minister for Information, Lai Mohammed, announced an indefinite suspension of Twitter’s services in Nigeria in response to what it called, ‘the persistent use of […]

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FG seeks private sector driven Digital Switch Over as it restarts process

The federal government on Tuesday said it is now pursuing a full private-sector-driven Digital Switch Over (DSO), a transition from analogue to digital television broadcasting, to ensure it’s sustainability as it re-starts the process after its last roll out in 2018. Lai Mohammed, minister of information and Culture said there will be no more subsidies, […]

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Motorola Solutions launches new device designed for Smes in sub Saharan Africa

Global leader in mission-critical communications, Motorola Solutions, has launched a new two-way radio device specially designed for small and medium businesses in sub Saharan Africa. The MOTOTRBO DP540 two-way radio is built for cost-conscious businesses looking to transition to digital technology for reliable and efficient communications. As demand for digital radio communication rises, small and […]