NCC suspends issuance of new licences to virtual network operators The Nigerian Communications Commission (NCC) has announced a temporary suspension of new licenses to mobile virtual network operators (MVNO), interconnect exchange and value-added service (VAS) aggregators. The suspension, which commenced on May 17, 2024, is aimed at enabling[Read More…]
Power Sector Debts: FG approves N3.3trn payment President Tinubu has approved a phased payment plan to clear the N3.3 trillion debt to power generation and gas companies, providing a welcome relief to the affected industries. The Minister of Power, Adebayo Adelabu, disclosed this at the 8th Africa Energy[Read More…]
AfDB to support Nigeria’s power sector reforms with $1bn loan The African Development Bank announced its plans to support Nigeria’s power sector with a $1 billion policy-based operation (PBO) fund to boost electricity access. Kevin Kariuki, AfDB vice-president, power, energy, climate change and green growth complex, revealed the[Read More…]
Google’s Hustle Academy Re-launches with AI Focus to Empower African SMBs Google has announced the opening of applications for the 2024 cohort of its Hustle Academy, a program dedicated to accelerating the growth of small and medium-sized businesses (SMBs) in Sub-Saharan Africa. In a statement, Google said, this year, the[Read More…]
FBNQuest Merchant Bank Gross Earnings Hits N35.5b FBNQuest Merchant Bank has despite the prevailing economic challenges, reported a robust financial performance and outlined strategic growth initiatives aimed at delivering sustainable value to its shareholders. The bank reported a strong financial performance for the year 2023, with gross earnings improving[Read More…]
Access Bank partners Mastercard on cross-border payments for African businesses Access Bank Group and Mastercard have launched a unified cross-border money movement solution across various African markets, enabling businesses and consumers to send and receive international payments across more than 150 countries. Under the partnership,[Read More…]
Abdul Samad Rabiu Felicitates Aigboje Aig-Imoukhuede on Appointment as President of France-Nigeria Business Council Abdul Samad Rabiu, Chairman of BUA Group and pioneer President of the France Nigeria Business Council, has congratulated Aigboje Aig-Imoukhuede on his recent appointment as the President of the France-Nigeria Business Council by President Emmanuel[Read More…]
FG to deploy N20trn pension fund for infrastructure development The federal government has unveiled a new plan to harness the N20 trillion pension fund and other locally available resources for infrastructure development in Nigeria. Coordinating minister for the economy and minister of finance, Wale Edun, stated this[Read More…]
Nigeria to unveil auto-credit scheme to boost local automobile industry The federal government has announced plans to launch an auto-credit scheme to boost the local automobile industry. Doris Uzoka-Anite, minister for industry, trade, and investment, spoke on Tuesday at a 3-day automobile conference in Lagos. Uzoka-Anite, who was represented by[Read More…]
Emefiele arraigned for printing naira notes without ‘strict approval’, pleads not guilty The former governor of the Central Bank of Nigeria, Godwin Emefiele has pleaded not guilty to charges of printing N684 million notes at a rate of N18.96 billion without the proper approval. Emefiele was[Read More…]
