CBN Receives N19.5bn from 47 Donors for COVID-19

By Aduragbemi Omiyale An artificial intelligence-powered feature, Dream Screen for Shorts, designed to redefine how creators use YouTube, has been unveiled by the video streaming platform. The feature was introduced by the tech giant on Thursday alongside others at the Made On YouTube event. It was created to allow YouTube creators to reach more viewers. According to the firm, Dream Screen allows creators to add AI-generated video or image backgrounds to their Shorts simply by typing an idea into a prompt. With Dream Screen, creators will be able to generate new, fantastic settings for their Shorts that are only limited

By Modupe Gbadeyanka On October 1, 2023, food enthusiasts and stakeholders will gather at the Tafawa Balewa Square, Lagos to have a taste of Nigerian cuisine at an event organised by 3X4 Foods, a subsidiary of 3 BY 4 Gourmet. The founder of 3X4 Foods, Ms Banke Makinde, said the programme, Street Food Celebration, would be used to showcase the Nigerian culture, through food, to the world. She said the event would provide an opportunity to celebrate Nigeria’s culture, history, and people through street food, and promote cultural entertainment, and delicious gourmet street food. According to her, Street Food Celebration

By Adedapo Adesanya President Bola Tinubu on Monday asked South African companies to consider investing in the Nigerian solid minerals development sector, promising them a conducive environment. Mr Tinubu made this call when he held talks with his South African counterpart, Mr Cyril Ramaphosa, in New York City ahead of the United Nations General Assembly (UNGA). According to a statement by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, the Nigerian leader advanced his economic development diplomatic drive for investment attraction during the engagement. He told Mr Ramaphosa that, “South African mining industries have a

By Dipo Olowookere One of the foremost financial institutions in Nigeria, United Bank for Africa (UBA) Plc, raked N5.5 billion as funds transfer fee in the first nine months of 2020. This information was revealed in the financial statements of the company released to the Nigerian Stock Exchange (NSE) on Friday. In a brief analysis by Business Post, the amount generated by the lender in the period under review was lower than the corresponding period of 2019, which stood at N6.6 billion. The funds transfer fee is the amount a bank charges its customers for transferring money from one account

By Cowry Asset During this week, treasury bills worth N236.118 billion matured via 315-day bills. Consequently, NIBOR increased for most of the tenor buckets; NIBOR for 1 month, 3 months and 6 months rose to 19.52 percent (from 19.33 percent), 21.61 percent (from 21.37 percent) and 23.83 percent (from 23.67 percent) respectively. However, NIBOR for overnight funds fell to 6.21 percent (from 9.29 percent). Elsewhere, NITTY moved in mixed directions across the maturities – yields on 1 month and 12 months maturities fell to 15.63 percent (from 17.53 percent) and 22.39 percent (from 22.56 percent) respectively. However, the yields on

By Ahmed Rahma A month after it suspended the use of the Oxford AstraZeneca vaccines for COVID-19, South Africa has sold its doses of the vaccine to the African Union (AU). On Sunday, the country’s Ministry of Health disclosed that the sale of the vaccine to the union has been concluded. Recall that Business Post had earlier reported that the country suspended the use of the vaccine over its inability to protect patients against the variant discovered in the country. In the report, South Africa claimed test results showed that the vaccine did not protect clinical-trial participants from mild or

By Adeniyi Ogunfowoke A good internet at home is essential whether you are a Netflix freak or you are just trying to keep up with your friends on social media. Unfortunately, every month your internet bill keeps rising that you want to stop subscribing. The fact is that you can reduce your usage and still get affordable internet service monthly. Jumia Travel, the leading online travel agency shares ways to can cut your internet bill. Get the best competitive price If you are frustrated with your high internet bills, you can take time out to research the cost of buying

By Modupe Gbadeyanka Pan-African financial institution, UBA Plc, has posted a profit after tax of N72.264 billion in 2016 in contrast to N59.654 billion it recorded a year before, indicating an increase of 21 percent. In its audited results released to the Nigerian Stock Exchange (NSE), which was analysed by Business Post, the bank grew its asset base to N3.5 trillion compared with N2.8 trillion it stood at the end of 2015. However, the financial statements showed the bank’s impairment charges for the year increased by 440 percent to N27.7 billion in 2016 in contrast to N5.1 billion it was

By Adedapo Adesanya The federal government has warned that a risk assessment showed that the likelihood of an outbreak of anthrax disease in the country is high after one case of the disease in a mixed livestock farm was discovered in Niger State. The Federal Ministry of Agriculture and Rural Development’s Chief Veterinary Officer of Nigeria, Dr Columba Vakuru, and the Director General of NCDC, Dr Ifedayo Adetifa, also said that the potential impact of the disease on humans is high. The government, however, noted that it had activated the incident management system at level two with an incident manager

By Dipo Olowookere Five companies trading their shares on the floor of the Nigerian Stock Exchange (NSE) have exited the Afrinvest Dividend Yield Index. The Afrinvest Div Yield Index is one of the indices developed to allow investors to follow market movements and properly manage investment portfolios. They were designed using the market capitalisation methodology and are rebalanced on a semi-annual basis on the first business day in January and in July. On Monday, January 4, 2021, the new review became effective and from the notice from the NSE obtained by Business Post, AIICO Insurance, Dangote Sugar, FCMB, United Capital

By Adedapo Adesanya The United Kingdom’s National Crime Agency (NCA) has recovered a fresh tranche of $23,439,724.98 believed to have been siphoned out of Nigeria in the 1990s by the associates and family of former Head of State, General Sani Abacha. Channels Television reported that a communique issued by the agency on Thursday stated that the funds formed part of a larger pool of monies identified by the United States Department of Justice (USDOJ) as having been misappropriated by late Abacha and his allies. The NCA revealed that the funds have now been transferred to the Home Office for onward