T-Bills Market Bearish as CBN Further Cuts Rate by 0.03%

By Bliss Okperan Students of the University of Calabar (UNICAL) have taken to the streets in protest against the increment of tuition fees by over 100 per cent. The aggrieved students, who marched around the school premises, took their protest to the main gate of the institution, causing traffic gridlock along the Etta-Agbor and Mary Slessor roads in Calabar Municipality LGA. The protesters took placards with various inscriptions to kick against the decision of the management to increase their fees as well as other charges, asking for an immediate reversal. Some of the inscriptions read, “return to the old fees”,

By Adedapo Adesanya The African Development Bank Group (AfDB) has revealed that a $1 billion facility would be used to provide insurance to more than 40 million farmers across the continent against severe impacts of climate change. Initially unveiled at the Africa Climate Summit held in Nairobi in September, the Africa Climate Risk Insurance Facility for Adaptation (ACRIFA) brings together governments, development agencies, the insurance sector and the private sector, said the president of the bank, Mr Akinwumi Adesina, while speaking during a side event at COP28 in Dubai. He said ACRIFA aims to mobilise $1 billion of concessionary financing,

By Bliss Okperan Users of neo banks like Opay, Carbon, Kuda, Moniepoint, and PalmPay, among others, are worried over the new directive of the Central Bank of Nigeria (CBN), which intends to freeze bank accounts not linked to a Bank Verification Number (BVN) and a National Identity Number (NIN). Last week, the apex bank directed deposit money banks (DMBs) to place a “Post No Debit (PND)’ on any accounts with BVN and NIN from next year. For most neo banks, account numbers are opened with just users’ phone numbers without the BVN, unlike the traditional banks. However, they cannot make

By Adedapo Adesanya Stakeholders in the tech industry have advocated more investments in resources to boost the training of Nigerian youths in digital technology skills. This call was made by some top speakers and panellists at Tekifest’23, a coming together of tech minds focused on exploring the future of work, technology, innovation, and tech excellence, which took place on November 29 at The Zone, Gbagada in Lagos. Organised by Tekisite, the non-profit organization dedicated to training teenagers in digital technology skills in suburban communities, the event themed The Future Of Jobs: Talent Pipeline Investment hammered the need to take advantage

By Bliss Okperan The University of Calabar (UNICAL), Cross River State, has increase its tuition for undergraduates by over 100 per cent. A statement issued on Monday disclosed that the upward review of the fees was taken at an emergency meeting of the university’s Senate on Friday. In the statement issued by the school’s spokesman, Mr Effiong Eyo, it was disclosed that the management implemented this increase because of the current economic realities and the need to maintain the academic standard which the university was known for. The statement added that the new fees would be effective in the 2022-2023

By Modupe Gbadeyanka A popular Nigerian movie actor, Mr Sylvester Made, has returned to Nigeria after he survived a fatal attack in Cameroon some days ago. The Nollywood star had travelled to the neighbouring country for a movie job when some hoodlums attacked a fun spot where he had gone after shooting a film in the Bamenda region of Cameroon on Monday, November 25, 2023. It was gathered that the attackers stormed the location where the actor had gone to have fun after the day’s job and were asking for a settlement for bringing the Nigerian into the country. A

By Adedapo Adesanya Music streaming service, Spotify, will cut about 17 per cent of its global workforce in another round of layoffs amid slowing economic growth. According to the CEO of the streamer, Mr Daniel Ek, this figure represents around 1,500 of its 9,000 staff. Earlier in January, Spotify, based in Sweden, said it would cut staff by 6 per cent and announced a hiring slowdown in October, but this move to reduce costs goes much deeper. Most Spotify staff impacted by the cuts will receive approximately five months’ severance pay, including healthcare, and be eligible for two months’ outplacement

By Modupe Gbadeyanka For supporting Micro, Small and Medium-scale Enterprises (MSMEs) with credit facilities, Ecobank Nigeria Limited has won big at the 2023 Development Bank of Nigeria (DBN) Annual Service Ambassador Awards ceremony held in Lagos. The DBN Ambassadors Programme was designed to increase the sense of ownership among participating financial institutions, build capacity, increase on-lending small businesses and ultimately deepen financial inclusion in Nigeria. Ecobank is a participating financial institution in partnership with DBN to provide credit facilities, credit guarantees and technical support to MSMEs. It got an award for Platinum Service Ambassador; Bank with the Highest Impact on

By Adedapo Adesanya  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has projected that its Industry Sustainability Initiative (NISI) will create over $575 billion in capital investment opportunities for Nigeria through the decarbonisation of operations. According to a statement, NMDPRA, while hosting a session on Nigeria’s Pathway to Energy Sustainability and NMDPRA’s Role at the UN Climate Change Conference 2023 (COP28) in Dubai, UAE, x-rayed Nigeria’s journey towards reducing carbon emission and achieving Net Zero by 2060. Speaking at the event, Mr Mustapha Lamorde, the authority’s Executive Director on Health, Safety, Environment and Community (HSEC), said the investment would be

By Jerome-Mario Utomi There exists a time-honoured notion among management experts that for every given task, there is always a strategy to achieve the desired results. In planning, you may have more than one strategy which could be labelled as ‘Plan-A’ and ‘Plan-B’ or even more. Chiedu Ebie, Chairman of the newly constituted Governing Board of the Niger Delta Development Commission, recently demonstrated the understanding that NDDC as an interventionist agency is not left out in clarion formulation of strategies needed for getting hold of stakeholders and converting their support to a springboard for the right vision that will set