First Edition of the Tastemakers Wine Series Hosted by Vendease

Fintech

Lagos Signs Memorandum of Understanding on IGR FinTech Development

The Lagos State Government through the Ministry of Physical Planning and Urban Development has signed a Memorandum of Understanding with eTransact to curb unregulated development, manage setbacks and open spaces, and improve the beautification of the state’s environment. According to the collaborating partners, the Ministry of Physical Planning and Urban Development and eTransact will deploy an…
Read more
Brands & People

Alibaba is divided into six business groups.

Alibaba announced Tuesday that it would split into six business groups in one of the most significant overhauls of a leading Chinese tech firm to date. The company’s chairman and CEO, Daniel Zhang, said the restructuring would enable each separate business to pursue its…
Brands & PeopleFintech

Artificial intelligence could bridge Africa's $120 billion lending gap.

The Chief Executive Officer of VerifyMe, Esigie Aguele, says artificial intelligence will help accelerate Africa’s drive towards achieving open finance and bridging the continent’s $120bn lending gap. Aguele made the projection while speaking on a TV business programme, Power Lunch West Africa, on CNBC at the weekend. He said, “The opportunities that can be harnessed from AI in Africa are…
Read more
Banking

Zenith Bank grows gross earnings by 24% to N946bn

Zenith Bank Plc grew its gross earnings by 24 per cent from N765.6n as of the end of 2021 financial period to N945.5bn in the corresponding period of 2022. The bank disclosed this in a statement on Tuesday on its audited results for the year ending December 31, 2022, titled…
Banking

CBN prohibits banks from seeking more expansion.

The Central Bank of Nigeria has barred banks and other financial institutions seeking a conversion licence from expanding or reducing their current banking network in its new draft guidelines. The CBN discloses this in a circular tagged ‘FPR/DIR/PUB/CIR/001/072’ to banks and other financial institutions, which was titled ‘Regulatory guidelines for change of operational licence for banks and…
Read more
Market

Stock Market capitalization decreased by N622 billion.

Investors lost N622bn at the close of trading on Monday due to sell-offs of some telecoms and banking stocks. The market which opened with the All-Share Index at 54,892.53 lost 2.08 per cent to close 53, at 750.77. The market capitalisation also depreciated by 2.08 per cent to N29.281tn. In terms of volume, a total of 100.882 million shares valued at N 4.342bn were traded on the Nigerian Exchange…
Read more