Stock Market Drops 0.71% as Investors Sell Off MTN, FBNH

In a captivating dialogue at the annual conference tagged Art of Technology Lagos 5.0, held at Landmark Event Centre Lagos, on Thursday, 7 December 2023, Opeoluwa Filani, General Manager, Showmax Nigeria, took the stage to offer insights into the rapidly evolving landscape of Africa’s creative economy. The annual tech conference, curated by the Eko Innovation Centre and sponsored by the Lagos State Government, explored the symbiotic relationship between creativity and technology. As the lead discussant of the first plenary session themed Monetization of the Creative Economy Leveraging Technology, Filani noted that the combination of creativity and technology presents a vision

By Modupe Gbadeyanka An award has been presented to Airtel Nigeria by the Women’s Technology Empowerment Centre (W.TEC) for its significant contribution towards fostering opportunities for women and girls in the tech sector. WTEC, a notable beneficiary of Airtel’s corporate social responsibility initiative, Touching Lives Season 6, honoured the leading telecommunications firm in Nigeria at its 15th anniversary dinner on Sunday, December 3, 2023, at La Chaumiere Restaurant in Lagos. The organisation said it was impressed with Airtel Nigeria’s dedication towards the advancement of technology in the country. Highlighting the positive influence of Airtel Nigeria’s intervention, the chief executive of

By Bliss Okperan No fewer than five officials of the Lagos State Traffic Management Authority (LASTMA) have been dismissed for unethical practices. The affected traffic controllers were fired after they were found guilty of the allegations of corrupt practices levied against them. A panel was established to look into the allegations against seven members of the agency, but the five were recommended to the Lagos State Civil Service Commission for dismissal, while the two others were reprimanded. Confirming the development, the Director for Public Affairs and Enlightenment Department of LASTMA, Mr Adebayo Taofiq, said in a statement that, “While five

By Bliss Okperan The Central Bank of Nigeria (CBN) has directed all deposit money banks (DMBs), other financial institutions and non-bank financial institutions to suspend taking the processing fees from customers for large cash deposits. The central bank gave this directive via a circular dated Monday, December 11, 2023, signed by its Acting Director of Banking Supervision, Adetona Adedeji. The CBN, under its former chief, Mr Godwin Emefiele, introduced charges on large cash deposits in a bid to discourage the use of cash and embrace cashless through digital money transfers. But the current Governor of the central bank, Mr Yemi

By Bliss Okperan The United Nations (UN) has said it needs about $46.4 billion next year to bring life-saving help to around 180 million people in desperate circumstances around the world. The UN on Monday said the wider Middle East, Sudan and Afghanistan were among the hotspots that also needed major international aid operations. The global humanitarian outlook for 2024 was “bleak”, with conflicts, climate emergencies and collapsing economies “wreaking havoc” on the most vulnerable, adding that the size of the annual appeal and the number of people it aims to reach were scaled back compared to 2023, recorded a

It’s that time of year again! The season of giving is here and Access Bank is dialing up the festive cheer with the much-anticipated AccessMore 12 Days of December campaign. Brace yourself for an extraordinary opportunity as 100 fortunate customers stand a chance to pocket N10,000 shopping vouchers daily, from December 1 to December 12, 2023. Prepare to unwrap joy as Access Bank transforms the spirit of giving into a twelve-day celebration unlike any other! Now, picture yourself as one of the lucky individuals to benefit from the 12 Days of December campaign. Here are five ways you can join

By Bliss Okperan President Bola Tinubu on Monday morning departed Abuja for Maiduguri, the Borno State capital the Nigerian Army Annual Conference as a special guest of honour. Mr Tinubu left the seat of power from the presidential wing of the Nnamdi Azikiwe International Airport, Abuja. It is his first visit to the North-Eastern region of the country since assuming office on May 29, 2023, from former president Muhammadu Buhari. The event will include an address to the troops of Joint Task Force North East Operation HADIN KAI, an inspection of the ongoing Nigerian Army Reference Hospital in Maiduguri, and

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has assured stakeholders in the country that Nigerian banks remain resilient following widespread media reports that commercial banks in the country had failed the bank’s Capital Adequacy Ratio (CAR) for international authorisation. CAR compares the risk-weighted assets of a bank with the available capital that Nigerian banks possess. For instance, when faced with challenging financial conditions, the ratio offers a quick and easy way to determine whether or not a bank has sufficient money to cover losses and continue to keep its solvent status. In a statement on Monday, the apex

By Modupe Gbadeyanka The 27 lawmakers of the Rivers State House of Assembly loyal to the Minister of FCT, Mr Nyesom Wike, have defected to the All Progressives Congress (APC). The legislators won elections into the state parliament in 2023 through the Peoples Democratic Party (PDP). However, following a political crisis between Governor Sim Fubara and his predecessor, Mr Wike, the 27 lawmakers attempted to impeach the Governor, which was botched. President Bola Tinubu had to intervene in the matter and asked Mr Wike and Mr Fubara to maintain peace. Last week, a video of the Minister singing the popular

By Adedapo Adesanya Nigeria-based fintech, Touch and Pay (TAP), which processes microtransactions across Africa, such as paying for bus journeys, is planning on making it easier for users of public transportation popularly called Danfo to begin paying fares using its near-field technology (NFC) products. This was disclosed by Mr Micheal Oluwole, the co-founder and chief growth officer of the company, who noted that the $50,000 prize money it won at the Ecobank Fintech Challenge in 2022 has helped the company focus on its core target of helping Africans process cash-based transactions digitally as well as advancing the country’s cashless policy