Nigeria introduces domestic card scheme to boost cashless economy

Posted by - January 27, 2023

Nigeria’s central bank has launched a domestic card scheme to rival foreign cards like Mastercard and Visa, hoping to enhance its drive to make Africa’s biggest economy a cashless society and save the country foreign transaction fees. The announcement made by the Central Bank of Nigeria governor, Godwin Emefiele, follows its launch of Africa’s first

Nigeria opens ‘game changer’ billion-dollar deep seaport

Posted by - January 24, 2023

Nigeria has opened a billion-dollar Chinese-built deep seaport in Lagos on Monday, which is expected to ease congestion at the country’s ports and help it become an African hub for transshipment, handling cargoes in transit for other destinations. President Muhammadu Buhari has made building infrastructure a key pillar of his government’s economic policy, and hopes

IBASS Implementation: JAMB trains Varsity, Provost, Rectors, other administrative staff on full automation processes

Posted by - December 13, 2022

 The Joint Admissions and Matriculation Board (JAMB) has commenced training for all administrative staff of tertiary institutions to keep them abreast of the workings of the policy on Monday, 12th  December 2022. This follows the introduction of the Interactive e-Brochure and e-Syllabus System (IBASS) The training which was held at the six geo-political zones of

Nigeria set to stop importation of refined oil and refine its own oil by 2023

Posted by - December 7, 2022

Nigeria is one of the world’s largest oil producers, yet, has failed to develop an oil refinery sector. Fortunately, the Nigerian Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed that Nigeria is a year away from refining its own crude oil. This report is according to Reuters, which stated that the minister had made the

Nigeria, others recorded $95.6b diaspora remittances in 2021, says AfDB

Posted by - December 7, 2022

As Nigeria and other African countries continue to explore alternative sources of revenues to meet developmental challenges, President of the African Development Bank (AfDB) Group, Dr. Akinwumi Adesina says diaspora remittances to the continent should be acknowledged, respected and further explored. Adesina’s observation is based on the fact that the value of remittances from the

Nigeria: Firm issues N5 billion CP for housing development

Posted by - December 6, 2022

A Lagos-based firm, God Made Homes (GMH) Limited, has signed a N5,000,000,000 Commercial Paper (CP) agreement with Qualinvest capital limited, Pathway advisors limited and six other professional parties to provide homes for Nigerians. The other six parties are Dupont capital advisory limited, Keystone bank, Ferdinand Eze & Co-auditor to the issuer. The new practices- solicitors

Yabx announces entry into Nigeria, aims to double its growth in Africa

Posted by - November 9, 2022

Yabx, a fintech venture headquartered at Netherlands, has announced plans to commence business operations in Nigeria, with a mission to democratise credit across the country with its digital lending offerings. According to a World Bank Report, the private credit bureau coverage in Nigeria was 13.9% in 2019. The numbers must have improved post pandemic but

Nigerians spent N3.2 trillion on airtime, data in 2021 – Virgin Platform International Ltd says 

Posted by - November 2, 2022

A telecommunications e-commerce company, Virgin Platform International Ltd has said telecom subscribers in Nigeria spent at least N3.2 trillion purchasing airtime and data in 2021.  This is as a result of a service application launched by the organization, My Wallet Shop, an automated virtual top-up (VTU) trading system for global use.  Speaking at the unveiling