Business

The Nigerian financial technology providers, fintechs, have attracted at least $1 billion in investments in six years. This figure was disclosed at the 31st Seminar for Finance Correspondents & Business Editors holding in Enugu. The Central Bank of Nigeria (CBN)’s governor, Mr. Godwin Emefiele, said at the seminar that the industry attracted the investment of […]

Nigerian states including local governments might face financial difficulties in the coming months as the rise in oil prices means a larger chunk of oil revenue will have to go into subsidy payment. According to data from oil price, on Tuesday, the international oil benchmark, Brent crude, increased 1.51% or $1.86 to $82.77 per barrel, […]

The fossil fuel industry benefits from subsidies of $11m every minute, according to an analysis by the International Monetary Fund. The IMF found the production and burning of coal, oil, and gas were subsidized by $5.9tn in 2020, with not a single country pricing all its fuels sufficiently to reflect their full supply and environmental […]

Nigeria’s Air Peace has announced the resumption of flights from Lagos to Johannesburg from October 17. In a statement on Tuesday in Lagos, the company spokesperson, Stanley Olisa, said the service would operate twice a week – Thursdays and Sundays. “We are happy to announce to our teeming customers the resumption of our Johannesburg service,” […]

The Central Bank of Nigeria (CBN) says the country spends $2 billion annually on the importation of wheat. Yila Yusuf, director of CBN development finance department, disclosed this in Abuja, at the wheat conference and stakeholder engagement, with the theme ‘Improving and Sustaining the Wheat Value Chain Development in Nigeria’. He highlighted the enormous potential […]

US tech giants are likely to increasingly mine and monetise data from Kenya if the proposed trade deal between Nairobi and Washington is successfully concluded, a United Nations agency has suggested. The United Nations Conference on Trade and Development (UNCTAD) says the proposed free trade agreement between the two countries includes a digital economy as […]

The Central Bank of Nigeria (CBN) has denied that the website of eNaira, the country’s digital currency, was down earlier today, the same day the CBDC was intended to launch. Enaira.com was reported down by Techpoint earlier today, with a screenshot showing “Error 502”. This comes four days after the website went live to ease […]

The Central Bank of Nigeria has announced the postponement of the planned unveiling of the country’s digital currency, e-Naira. Mr. Osita Nwanisobi, the spokesman of CBN, announced this in a statement on Thursday titled ‘CBN defers eNaira launch to mark independence anniversary. Nwanisobi explained that the CBN decided to postpone the launch, which had been […]

Kenya Railways Corporation will increase passenger capacity on the standard gauge railway (SGR) train between Nairobi-Mombasa by 61 percent amid rising demand during the school’s holiday break. Mr. Philip Mainga, the corporation’s managing director said yesterday that coaches will be increased to 13 from eight for economy class passengers. First-class passengers will also get an […]

The Bills Presented to Gov. Okowa by the Speaker of the Assembly, Chief Sheriff Oborevwori, in company with principal officers of the Assembly, Gov. Ifeanyi Okowa signs the Anti-open grazing bill into law, prohibiting open grazing across the state, and also the Delta State Urban Regional Planning Bill into Law. Gov. Okowa noted that the […]


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