The Minister of Agriculture, Senator Abubakar Kyari, announced the information, citing that the Saudi Arabian government has shown interest in establishing manufacturing factories in Nigeria for agricultural equipment. The Minister disclosed this new in a statement on his X profile (formerly Twitter) on Saturday, following a meeting with stakeholders from the Middle Eastern country. “The … Read more
Bamboo is an investment platform that allows Nigerians to invest in foreign stocks, primarily from the United States stock market, such as Apple, Amazon, and Tesla, among others. It enables users to diversify their investment portfolios beyond Nigerian stocks into global markets. Through a X post, Bamboo has announced commencement of operation in South Africa. … Read more
Nigeria’s Central Bank (CBN) has announced that International Money Transfer Operators (IMTOs) will now be permitted to sell foreign exchange (forex) on the official market, helping to maintain the naira’s relative stability. According to a CBN circular released on Monday, eligible IMTOs can access the CBN window directly or through authorized dealer banks, with transactions … Read more
The Joint Admissions and Matriculation Board (JAMB) has issued an important update for 2024 UTME candidates, warning them about recent fraudulent activities by third-party services that falsely claim to help candidates obtain their examination results without using registered SIM cards. Candidates are urged to be vigilant and avoid falling victim to these scams. JAMB has … Read more
FIRS has dropped tax evasion charges against Binance. The Nigeria’s tax authority, the Federal Inland Revenue Service (FIRS), has dropped tax evasion charges against two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla. This comes after sixteen US lawmakers accused Nigeria of unfairly detaining Gambaryan. Previously, in March 2024, FIRs accused Binance of not paying taxes … Read more
Kenya’s Central Bank to Raise Minimum Capital Requirement for Commercial Banks Tenfold The Central Bank of Kenya (CBK) is set to significantly increase the minimum capital requirement for commercial banks, raising it tenfold to $77.8 million (KES 10 billion), Finance Minister Njuguna Ndung’u announced on Thursday, 13 June 2024. This development will: increase stability: With … Read more
Meta, the parent company of Facebook, Instagram, and WhatsApp, is optimizing its operations in Lagos by reducing its office space and introducing a desk-sharing program. That’s, the company is reducing its real estate footprint to transition some employees to desk sharing, particularly those who spend little time at work. This move comes as the company … Read more
Airtel Kenya is making significant strides in bringing Kenyans the power of 5G. The telecom giant has expanded its 5G network, reaching an impressive 39 counties and 285 wards with over 690 operational sites, owing to an increase in 5G network users in the country. This represents a near doubling of their 5G footprint since … Read more
Despite the ongoing clampdown by the Federal Competition and Consumer Protection Commission (FCCPC), several unregistered loan apps have found a way to continue their operations in Nigeria through Android Package Kit (APK) distribution. As of May 2024, the FCCPC has delisted 47 of these unregistered apps from the Google Play Store. However, investigations reveal that … Read more
The Central Bank of Nigeria (CBN) has lifted the ban on new account openings for OPay, Moniepoint, Kuda, PalmPay, and Paga, which had been in place since April 2024 as a measure to combat fraud in the fintech industry. OPay reaffirmed its commitment to adhering to approved KYC verification processes and urged customers to ensure … Read more