4 Possible Ways Technology Can Drive Nigeria’s Economy Out Of Recession

By Ike.S Anison Historically, the formal banking sector’s penetration in Africa has been relatively low. And, while there has been significant improvement in this area in recent years, there is still a significant portion of the population on the continent who are unbanked or lack access to financial services. According to the World Bank, approximately 350 million adults in sub-Saharan Africa are still unbanked, accounting for 17% of the 2 billion global unbanked population. This has largely been due to a struggle to tap into the continent’s low-income segment, the widest proportion of the population. Consumers within this market feel

By Prince Charles Dickson PhD Is life a freak accident, with no explanation, no reason, and no one to blame? Is it random? Reminds me of an elderly couple, who were childless, but fond of their neighbour’s daughter and used to take her to the beach every Sunday to have fun. December, 26th 2004. A tsunami occurred, it was the last they were seen of. The young girl was sick that Sunday and couldn’t go. Was it her fortune or misfortune that she got ill that day? One can only realize the outcome of a situation in the future. Is

By Badr Jafar Over 70,000 individuals from around the world are about to converge on Dubai to participate in COP28. In the lead-up, the UAE’s COP28 Presidency has made no secret of its ambition to make this the most inclusive and consequential COP ever. While much of that effort has elevated historically underrepresented communities, and rightly so, a lesser-known determination of the COP28 Presidency is about transforming how the COP process engages with the private sector. From 1-2 December this year, COP28 will feature the biggest gathering of business and philanthropy devoted to solving climate change in history, at the

By Michael Owhoko, PhD Any Nigerian with a rational and open mind knows that the complexity of governance in Nigeria today is rooted in the country’s political system, which by any stretch of imagination and logic, is unsuitable for a heterogenous society like Nigeria with over 250 ethnic groups that is characterized by incompatible cultures, varied history, background and interests. These ethnic groups were hitherto independent nations that ceded their sovereignty to the Nigerian state under federalism, a political system that took cognizance of their peculiarities and agreed upon by the country’s founding fathers. But ever since this system was

By Dipo Olowookere The Central Bank of Nigeria (CBN) on Tuesday, November 06, 2018 conducted an unexpected Open Market Operations (OMO). Business Post observed that the sale of the treasury bills at the secondary market was generally not successful as the apex bank could only raise N316.23 billion from the N500 billion worth of the instruments auctioned to investors. From the N50 billion worth of the 121-day bills, the bank received subscriptions valued at N21 million, while from the N150 billion of the 184-day paper, the CBN got subscriptions worth N77.37 billion, and from the N300 billion worth of the

Jiji Cars (formerly Cars45), one of the most popular car marketplaces in Kenya, Ghana and Nigeria for buying and selling verified cars, has scooped the Motor Vehicle Dealer of the Year, 2022, just a year and a half, after its acquisition by Jiji, the largest online marketplace in Africa. The award was presented to Jiji Cars during the Global Top Digitally Fit Awards, which was held at the Movenpick Hotel and Residences, Nairobi. The Global Top Digitally Fit Awards recognizes and rewards companies creating an online impact. Since its acquisition by Jiji, Jiji Cars (formerly Cars45) has created a new

By Modupe Gbadeyanka **As Organisers Keep Mute on Host After seven years off air, the popular Gulder Ultimate Search (GUS) sponsored by Nigerian Breweries Plc is making a return to the screen in 2021. The reality show started in 2004 and ran for 11 seasons before going on hiatus in 2014. Since then, lovers of the programme have longed for its return until this week when the organisers announced its shock return. “We are really excited to be bringing back the Gulder Ultimate Search for the viewing pleasure of Nigerians who have over the years continued to call for the

By Modupe Gbadeyanka The National Bureau of Statistics (NBS) has disclosed that in the third quarter of 2019, the Nigeria banking sector pulled a total volume of 800,201,498 transactions valued at N42.76 trillion. These transactions were carried out in the period under review via the different electronic payment channels in the sector. It was further stated that NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded; 298,988,572 worth N26.18 trillion. An analysis done by Business Post showed that cheques accounted for N1.01 trillion with 1.92 million volume, while ATM recorded 212.8 million transactions worth N1.62 trillion, with POS

By Adedapo Adesanya Oil rose on Tuesday on optimism that China, the world’s second-largest oil consumer, could ease its strict COVID curbs, causing the Brent crude to climb by $1.84 or 2 per cent to settle at $94.65 a barrel, as the United States West Texas Intermediate (WTI) crude gained $1.84 or 2.1 per cent to trade at $88.37 per barrel. The market swayed bullish after it emerged that a “Reopening Committee” had been formed by Politburo Standing Member Wang Huning and was reviewing overseas COVID data to assess various reopening scenarios, aiming to relax COVID rules in March 2023.

By Dipo Olowookere The sum of N5 million has been donated by the Oyo State government as the burial rites of the late actor, broadcaster, cultural icon and elder statesman, Alagba Adebayo Faleti, begins on Tuesday, September 5, 2017. Commissioner for Information, Culture and Tourism in the state, Mr Toye Arulogun, who donated the money to family of the decased on behalf of the goverbment, explained that the gesture was to enable the family give him a befitting burial. The actor’s journey home commences with a night of tributes and performances taking place hold at the International Conference Centre, University

By Dipo Olowookere Shares of Forte Oil, Dangote Cement, Dangote Sugar and Dangote Flour all depreciated at the Nigerian Stock Exchange (NSE) on Friday after President Muhammadu Buhari appointed owners of the companies into his 2019 presidential campaign council. Mr Aliko Dangote and Mr Femi Otedola of Forte Oil were appointed into the council alongside some prominent politicians in the country, including Mr Bola Ahmed Tinubu, the acclaimed National Leader of the ruling All Progressives Congress (APC). The duo will serve in the Special Advisory Committee to President Buhari with Vice President, Mr Yemi Osinbajo; Mr Bola Ahmed Tinubu; Senate