Business

Forty-two microfinance banks in Nigeria have lost their licences. This comes after the microfinance banks were iquidated by the Central Bank of Nigeria. The Nigeria Deposit Insurance Corporation, NDIC, disclosed this in a statement, saying it would promptly commence the verification of claims of depositors of the affected banks from Monday, …

National Identification Number (NIN) Matching: 9mobile Launches Intelligent Portal for Instant Verification Lagos, Nigeria, December 19, 2020: Innovative and customer-friendly telecommunication company 9mobile today announced the launch of its intelligent portal for instant verification to help its customers link their SIM cards with their National Identification Number (NIN). The Online …

Nigerian banks migrate to new cheque standards, old ones expire 31 Dec. The new cheques with new standards effective 1 January 2021 Nigerian banks are migrating in the New Year, into brand new cheque standards, on the order of the Central Bank of Nigeria. From 1 January 2021, the old …

Nigeria’s largest airways Air Peace have announced the commencement of flight operations from Nigeria to South Africa. According to a tweet by Air Peace, the airways is set for the inaugural flight to Johannesburg, South Africa. See photos below

Africa is a large continent with a rich cultural diversity. Africa’s major resource is its large population of young people. For Africa to realize its growth agenda she must harness the talent of her young population and nurture them to become future professionals and leaders. To reinforce our commitment to …

The Founder, Econet Global and owner of Liquid Telecom, Strive Masiyiwa, says work has commenced on a new data centre facility in Lagos valued at $100m. Masiyiwa said the data centre, which would be the largest facility outside South Africa, had been named Africa Data Centre, Atlantic and would be …

The total value of capital importation into Nigeria stood at $1,461.49m in the third quarter of 2020. This represents an increase of 12.86% compared to Q2 2020 and -74.03% decrease compared to the third quarter of 2019. The largest amount of capital importation by type was received through Other investment, which accounted …

Edo State Governor Godwin Obaseki on Monday paid a surprise visit to businessman and philanthropist Tony Elumelu, Newsextra24 reports. Mr Elumelu shared pictures of the meeting on social media. “Monday morning surprise visit. @governorObaseki,” he wrote. Elumelu did not give further information on the visit. Newsextra24 reports that Mr Obaseki, …

TEF partners EU to empower women from 54 countries The Tony Elumelu Foundation, TEF, has announced a partnership with the European Union, EU, to identify, train, mentor and fund 2,500 young African women entrepreneurs in 2021. A statement by the foundation says the partnership will disburse 20 million in financial …

Business owners are still nursing the numerous losses encountered during the #EndSARS protest as some of them had their properties destroyed and goods looted. One of such is the magnificent Enyimba Mall Outlet, an edifice located at Ngwa Road by East Aba that was partly destroyed by hoodlums who infiltrated …