FintechPodcast

Meta promises continued investment even after the departure of high-ranking officials.

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February 14, 2023
MEta, the parent company of social media platforms, Facebook, Instagram and WhatsApp, has said it will continue to invest in its platforms to encourage growth. In a statement by the tech company on Monday, it announced the exit of its Chief Business Officer, Marne Levine. Meta said, “We are proud that we have more people than ever using our platforms, and our investments in our business products…
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Business Ranks

DMO raised N724.9B in a bond auction in February.

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February 14, 2023
The Debt Management Office has announced that it raised N724.9 billion in February 2023 Federal Government bond auction. DBO said it was a 100% increase compared to the previous year. The auction, which was held on February 13, 2023, saw a total of 577 bids worth N724.9…
Banking

CBN Seizes N365M Counterfeit Banknotes in 5 Years.

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February 14, 2023
The Central Bank of Nigeria seized N365.24m counterfeit notes between 2016 and 2020, The figures were collated from the CBN’s annual report for each year available on its website. The 2017 CBN annual report noted that the bank seized 77,576 pieces of counterfeit banknotes…
Energy

Report: The price of fuel in stores market increased by 110% in four months.

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February 14, 2023
Ex-depot price of Premium Motor Spirit otherwise known as petrol has risen by 110 per cent in four months, The data showed that the ex-depot price rose from N148 per litre last October to an average of N312 per litre on February 3 this year. As the sole importer of petroleum products, the Nigerian National Petroleum Company Limited had set the price which products can be sold to oil marketers at…
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Startups

Nigerian startup wins $300,000 prize in Saudi Arabia.

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February 11, 2023
Two Nigerian startups received $300,000 after attending the 2nd LEAP Technology Expo in Riyadh, Saudi Arabia. Two startups are RiceAfrika Technologies and Wicrypt Technologies. They became winners in various categories of the rocket fuel competition, which was attended by…
TransportationTravel & Tourism

FG to install surveillance devices on the Abuja-Kaduna railway.

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February 11, 2023
Transport Minister Mu’azu Sambo announced the federal government’s decision to introduce 24/7 online surveillance of the Abuja-Kaduna rail corridor. He said this strategy will ensure the safety of passengers, employees and property along the Abuja-Kaduna rail corridor and other rail corridors. The minister also said that a command center would be set up on the Abuja-Kaduna railway…
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Brands & People

Bigi unveils ‘Bigi For Every Moment.

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February 11, 2023
The Bigi carbonated soft drink produced by Rite Foods Limited, a world-class and proudly-Nigerian company, that revitalises consumers with its 13 variants, has unveiled a new mantra, Bigi for Every Moment’ as the most refreshing brand that suits all occasions. The new…
Market

Manufacturers target 20% sectoral contribution to GDP by 2030.

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February 10, 2023
The Manufacturers Association of Nigeria (MAN) is working towards raising the contribution of the sector to the nation’s Gross Domestic Product (GDP) to 20 percent by 2030, representing a giant leap from its current average contribution of about 9 percent. President of…
Banking

Bank Jaiz announced a profit of N6.67 billion.

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February 10, 2023
Jaiz Bank, the Premier Non-Interest Bank in Nigeria has recorded a N.67 billion Profit Before Tax, at the close of its 2022 operation year. The figure, according to the statement by the bank, yesterday, represented a significant increase in Profit Before Tax (PBT) by 52.63% from the N4.37 billion recorded in December 2021. The bank also declared a 29.35% increase in gross earnings, from…
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