In December 2022, the Director of the Bank Examination Department, the Nigeria Deposit Insurance Corporation, Michael Oladele, revealed that N911bn had been lost to ‘get-rich-quick’ schemes in Nigeria over the last 23 years.
While this figure may present the raw facts of the damage of such schemes, it is a pointer to the innate need for individuals to attempt to build wealth. However, this is…
In an effort to ban the importation of barite and promote its local production, the Federal Government, through the Ministry of Mines and Steel Development, has commissioned a barite processing plant in Cross River State.
Speaking at the inauguration of the barite processing…
Google has released a new AI-powered chatbot called Bard, which is designed to compete with OpenAI’s ChatGPT. Bard is an experimental conversational AI service that is powered by Google’s LaMDA (Language Model for Dialogue Applications).
LaMDA is a large language model…
The Nigerian National Petroleum Company Limited needs to roll out massive investments in terms of oil and gas to meet the demand for these commodities, Africa’s richest man and Chairman, Dangote Group, Aliko Dangote, has said.
He said the national oil firm should invest more because there were many off-takers waiting to off-take the products from the company.
Dangote spoke at the ongoing 2023…
The Federal Government, through the Ministry of Mines and Steel Development, has stressed that biometric data capture for registered artisanal and small-scale miners will lessen the rate of illegal mining and smuggling in the country.
This was disclosed in a statement from…
Nigeria’s borrowing from the World Bank has reached $14.34bn as of March 31,
This was an increase from the $13.93bn debt recorded by the Debt Management Office as of December 31, 2022.
This means that fresh disbursements on approved loans added $410m to Nigeria’s debt…
Wema Bank Plc has said it recorded N39.35bn gross earnings in the first quarter of the 2023 financial period.
This was a year-on-year increase of 35.04 per cent from N29.14bn recorded in the corresponding period of 2022.
It disclosed this in a statement on its unaudited results for the first quarter ended March 30, 2023.
It disclosed that its interest income rose by 31.73 per cent y/y to N33.63bn…
With rising concerns around the seeming disappearance of newly redesigned notes, the Central Bank of Nigeria has said it is supplying more quantities of the new notes to banks.
This was according to a statement by the CBN’s Acting Director, Corporate Communications, Dr Isa…
I am excited to announce the first set of electric buses in the Lagos Mass Transit Master Plan as part of our increased effort to modernise every sector of Lagos. Thanks to our partnership with @Oando_PLC, Lagosians can expect a cleaner and greener public transportation…
The contractor missed the April completion date for the Lagos-Ibadan Expressway
May 1, 2023
The Federal Government has again postponed the reopening of the Lagos-Ibadan Expressway, saying the April 30 date earlier stated will no longer be feasible.
The Minister of Works and Housing, Mr Babatunde Fashola, who dropped the hint, said the development was due to heavy traffic being experienced from toll gate to the Kara Bridge section of the Lagos-Ibadan Expressway.
Fashola made the appeal in…