SECTOR INSIGHT

Google Announces Investment In Safeboda

Google has announced its first investment from its Africa Investment Fund in SafeBoda, a tech firm that operates in Nigeria and Uganda. It said in a statement that this investment would help the firm scale its transportation-led app to offer new payment and…

21/12/2021 0Comments

FG To Spend N250bn Sukuk On Abuja, Niger Delta Road Projects, Says DMO

The Debt Management Office says the proposed N250bn sukuk will be used to finance key economic road projects identified by the Federal Ministry of Works and Housing, Federal Capital Territory Administration, and the Ministry of Niger Delta Affairs. The DMO’s Director-General, Patience…

21/12/2021 0Comments

Togo, Benin, Niger Paid Nothing For Nigeria’s Power Supply, Says NERC

The Nigerian Electricity Regulatory Commission (NERC) says the Republic of Benin, Niger Republic, Togo made no payment for the electricity supplied to them from Nigeria in the second quarter of 2021. The commission disclosed this in its second-quarter report for 2021. The report…

20/12/2021 0Comments

NERC: 126 Nigerians Killed, 68 Injured In Electricity-Related Accidents In 18 Months

At least 126 Nigerians were electrocuted, while 68 sustained serious injuries in the 18 months spanning the first quarter of 2020 and the second quarter of 2021, an analysis of recent reports by the Nigerian Electricity Regulatory Commission (NERC), has shown. The…

20/12/2021 0Comments

Nigeria Has Not, And Will Not, Mortgage National Asset For Chinese Loans — DMO

The Debt Management Office (DMO) has clarified that loans from China to Nigeria, which presently stood at 3.59 billion dollars, constitute only 9.4 per cent of the country’s total foreign debt stock of 37.9 billion dollars. Ms Patience Oniha, the Director-General of…

20/12/2021 0Comments

CBN Moves To Protect Bank Customers Against Excess Charges, Illegal Debits

Following rising complaints from customers of commercial banks in Nigeria over incidences of multiple and indiscriminate charges and debits on their accounts, the Central Bank of Nigeria (CBN) has promised to ensure that affected customers get redress on their complaints. A spokesman…

20/12/2021 0Comments

FBN Hold Co Chairmanship: CBN Okays Abdullahi As Babalola’s Successor

The Central Bank of Nigeria (CBN), yesterday, okayed the appointment of Alhaji Ahmad Abdullahi as non-executive Director of First Bank Holding Plc and Chairman of the company to replace Mr. Remi Balalola. The CBN’s Director, Corporate Communications, Osita Nwanisobi disclosed that the bank…

20/12/2021 0Comments

SEC Begins Charging Regulatory Fee On Fixed Income Transactions

Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), will commence charging regulatory fee on fixed income secondary market transactions with effect from January 1, 2022. In a circular released yesterday, SEC stated that the commencement of regulatory fee on bonds and…

18/12/2021 0Comments

AfDB Approves $170 Million For Investment In Nigeria’s Digital, Creative Start-Ups

The Board of Directors of the African Development Bank, AfDB, has approved a loan of $170 million to finance a digital and creative enterprises program in Nigeria. The investment in Digital and Creative Enterprises Program, i-DICE, is a Federal Government of Nigeria initiative…

17/12/2021 0Comments

World Bank Approves $700m For Nigeria

The World Bank has approved a 700 million dollar credit from its International Development Association, IDA, for the Nigeria Agro-Climatic Resilience in Semi-Arid Landscapes, ACReSAL, Project. It said this in a statement issued in Washington on Thursday. According to it, the project will…

17/12/2021 0Comments

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