The Chief Executive Officer/Founder of Interswitch Limited, Mr Mitchell Elegbe, was on Friday named the overall winner in the Master Entrepreneur Category of the 2023 Ernst &Young Entrepreneur of the Year Award in West Africa. A statement said the Founder/Chief Analyst, Nairametrics Financial Advocate Limited, Ugodre Obi-Chukwu, beat other finalists to clinch the Emerging Category […]

The currency in circulation in the country dipped by a 235.03 per cent to N982.09bn at the end of February from N3.29tn at the end of October 2022, on the back of the naira redesign policy of the Central Bank of Nigeria. Figures obtained from the CBN revealed that N2.3tn was mopped up from circulation […]

The Nigerian Exchange Limited has sanctioned 16 companies for various market infractions in three years, Specifically, the NGX imposed the sum of N779.5m fine on LASACO Assurance Plc, Presco Plc, Ardova Plc, C&I Leasing Plc, and 12 other listed companies on the bourse between 2020 and 2022. The sanctions bothered on the failure of the […]

The Federal Government has raked in N10.1tn from the collection of Value Added Tax under the regime of the President, Major General Muhammadu Buhari (retd.). This comes against the backdrop of the advice by the Minister of Finance, Zainab Ahmed, that the incoming government should increase the VAT from the current 7.5 per cent to […]

The acting Executive Secretary of the Economic Commission for Africa, Mr Antonio Pedro, has said the achievement of the Sustainable Development Goals may be hanging if poverty in Africa continues to increase. The ECA boss, speaking in a statement issued by the Communications Session of the UN agency, said growing poverty could also affect the […]

MTN Nigeria has proposed the merger of its two finance subsidiaries – Momo Payment Service Bank Limited and Yello Digital Financial Services Limited. This was revealed in its proposed resolutions for its 2023 Annual General Meeting scheduled to hold in April. The company said that the proposed merger will “hold the Payment Service Bank license […]

The federal government has announced plans to award subsidies to mini-grid developers for the deployment of solar power mini-grids to 150 underserved and unserved electricity sites across seven states. The government announced this in a statement issued by the Rural Electrification Agency on Friday. It noted the deployment of the mini-grids would be driven by […]

A group, Africa’s Young Entrepreneurs, has said the new naira/cashless policy of the Central Bank of Nigeria has destroyed many businesses. In an open letter to the CBN Governor, Godwin Emefiele, and signed by the President of AYE, Dr Summy Smart-Francis, he lamented that the policies made it extremely difficult for individuals and businesses to […]

Aviation workers’ unions have dragged the Minister of Aviation, Hadi Sirika and the Federal Airports Authority of Nigeria to court over the planned concession of major airports across the country, The workers’ unions comprising Air Transport Services Senior Staff Association of Nigeria; National Union of Air Transport Employees; Association of Nigeria Aviation Professionals and the […]

The Nigerian Communication Commission on Thursday announced plans to introduce measures to curb data depletion and ensure that telecom subscribers get value for their money. The commission noted that data depletion was one of the most prevalent complaints received from telecom consumers. The Executive Vice Chairman/ Chief Executive Officer, NCC, Prof Umar Danbata said this […]