EconomyMarkets

The FCTA limits PoS operators to commercial areas.

The Federal Capital Territory has ordered terminal operator Pointmof Sales to limit operations to commercial areas only. Speaking to reporters in Abuja on Wednesday, Abuja Metropolitan Government Commission Coordinator Umar Shuaibu said the government would not allow PoS operators to illegally occupy important areas except for commercial purposes. Shuaibu said the operators’ indiscriminate…
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Economy

FG paid Ajaokuta $446 million in legal debt.

Information and Culture Minister Lai Mohammed said the federal government had paid a total of $446 million to pay off Ajaokuta Steel Company’s statutory debt. He made the announcement on Thursday during the opening of the 19th round of the 2015 to 2023 Cabinet…
FintechTechnology

Nigerian financial startup TeamApt is changing its name to Moniepoint. What Next?

Nigerian financial startup TeamApt is changing its name to Moniepoint, the name of its flagship product, seven years after it first opened for business. The startup, which develops digital financial solutions for local businesses, stated that the rebrand allows it to connect with an identity that its current clients are already familiar with and confident in. Speaking to Business Insider Africa…
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Technology

Airtel spends $316.7 million for a 5G license and additional 4G spectrum.

Airtel, a telecommunications company, has finished paying for the license for its Fifth Generation (5G) network in Nigeria. Through the Nigerian Communications Commission, the company paid the Federal Government $316.7 million for the 5G license and 4G spectrum (NCC). This was revealed yesterday by Airtel Africa Plc, the parent company of the Nigerian subsidiary and trader of shares on the…
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BankingBrands & People

Working with experts is the secret of my success, says FCMB founder Otunba Subomi Balogun.

Otunba Subomi Balogun, the founder of the First City Monument Bank (FCMB) Group, claims that by prioritizing God and surrounding himself with thoroughbred experts, he was able to successfully navigate the Central Bank of Nigeria’s (CBN) N25 billion recapitalization policy. He continued by saying that the two elements had greatly influenced his achievements. He said that there had been…
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