Wale Edun, minister of finance and coordinating minister of the economy, says Nigeria has saved $20 billion from petrol subsidy removal and market-based pricing of the foreign exchange rate. Edun spoke at a ceremony recently […]
KuCoin, a cryptocurrency exchange, says it will commence collection of a 7.5 percent value-added tax (VAT) on transaction fees for users in Nigeria. The company said a regulatory update in Nigeria led to KuCoin’s decision […]
In a landmark deal set to reshape Nigeria’s beverage market, Tolaram has agreed to acquire Diageo’s 58.02% shareholding in Guinness Nigeria Plc. Guinness made this announcement via a press release on the website of the […]
If you go to Binance P2P, there is heavy manipulation going on there. And from my deductions, most of the big Binance P2P merchants are united in carrying out this manipulation. Some of them even […]
MTN has agreed on a deal to sell a stake in its fintech business to Mastercard for an undisclosed sum, in line with the operator’s long-term goal of raising cash from asset sales and its […]
The CEO of OPay Nigeria, Olu Akanmu, has announced his resignation from the company after two years of assuming the position. This is coming amid an ongoing celebration of the company’s 5th anniversary in Nigeria. […]
Indications have emerged on how some 8.9 million of the 12 million vehicles on Nigerian roads parade the country with fake insurance policies. Checks by The Guardian showed that only about 3,013,205 Third Party Motor […]
Lift Above Poverty Organisation (LAPO) Microfinance Bank disbursed N74 billion in the first half of the year. Mr Oluremi Akande, the bank’s Head of Marketing and Communications, confirmed the development on Tuesday. According to Akande, […]
As the drive for better financial inclusion continues to resound, Africa-focused fintech platform, PalmPay, has recorded 25 million users, a network of 500,000 mobile money agents and 300,000 merchants in its payments ecosystem. The growth […]
The World Bank yesterday called on the Federal Government to reallocate part of the savings from fuel subsidy removal to reduce the suffering of Nigerians worsened by the negative impact of the policy. Making this […]
While there are ongoing conversations between the telecommunications operators and the banks at the regulatory level to find an amicable solution to the protracted crisis affecting the Unstructured Supplementary Service Data (USSD) platform, the service […]
By Atanda Emajake “It is not their fault. It is the fault of the government, which allows foreigners to rip Nigerians off.” I got this off the comment section of a major newspaper website as […]
Peer-to-peer Bitcoin platform, Paxful, with 1.5m users in Nigeria, has announced that it is shutting down its operations. This was disclosed by the co-founder and Chief Executive Officer, Ray Youssef, in a blog post on […]
The Federal Competition and Consumer Protection Commission has approved 173 digital lending applications to operate in the country. Of the 173, 119 have full approvals and 54 have conditional approvals. After loan apps started harassing […]
By Busola Aro Netflix, America’s streaming giant, has reduced its subscription prices in more than 30 countries over the past week, Wall Street Journal is reporting. The subscription cuts is to be applicable to certain […]
E-commerce has emerged as a thriving industry following the acceleration of digital transformation as new digital platforms, and evolving consumer preferences have combined to make the internet the biggest marketplace. E-commerce now accounts for a […]
The value of naira to dollar fell from N196.92 in June 2015 to N414.72 in June 2022, worsening Nigeria’s foreign debt burden. Within the seven years under review, the naira depreciated by 52.52 per cent […]
President Muhammadu Buhari has launched the Rural Access and Agricultural Marketing Project (RAAMP) to the tune of $575m. This is aimed at providing access roads in rural areas to boost agricultural marketing. The five-year project […]
The Naira on Tuesday exchanged at N441.17 to the dollar at the Investors and Exporters window, a depreciation of 0.46per cent, compared with N439.17 to the dollar at the close of business on Oct. 7. […]
The Central Bank of Nigeria (CBN) says it has commenced deductions from accounts of defaulters under its development finance interventions to recover outstanding loans. Yusuf Yila, director, development finance of the CBN, said this during […]
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