Mobile brand Tecno Mobile has released another low budget gadget under their Tecno Spark series, which is the third variation of the Spark generation. The gadget comes packed with Android Pie System and is in two variants, Spark 3 pro and Spark 3 with the main difference being storage capacity. Spark 3 pro has 32GB plus … Read more
The Bankers Committee has announced a N200 billion credit facility to boost production and export of five cash crops: cocoa, oil palm, shea butter, sesame seed and cashew. The Committee also said it would soon announce a credit facility to support the creative industry with the aim of creating 300,000 jobs in the industry. Managing … Read more
A Federal High Court sitting in Abuja, yesterday, nullified the sale of telecommunication firm, Etisalat International Nigeria Limited (9mobile) to Teleology Nigeria Limited, with the judge, Justice Binta Nyako, invalidating all steps taken with respect to the exchange of ownership of the defunct Etisalat. Justice Nyako held that such steps amounted to a nullity since … Read more
A University of Lagos don, Dayo Ayoade, Wednesday, told an Italian Court in Milan that the award of the controversial Malabu Oil Bloc (OPL 245) to Shell and ENI was illegal. Mr. Ayoade, a consultant hired by Italian prosecutors who teaches oil law at UNILAG, spoke at the resumption of the long-running case involving … Read more
Despite crude oil production cut by the Organisation of Petroleum Exporting Countries, OPEC, to boost the prices of crude oil, fresh indications have emerged that the combination of supply and demand side factors are muting crude oil price rise to the target of $80 per barrel. This came as crude oil prices in the international market … Read more
Union Bank has recorded 33 percent growth in profit before tax (PBT) to N18.5 billion for the year ended December 31, 2018. The bank’s financial report for the period released yesterday on the Nigerian Stock Exchange, NSE, showed that gross earnings fell to N145 billion from N168 billion in 2017, representing 11 percent decline over … Read more
Founder of Huawei has described moves by the United States of America’s President Donald Trump to ban Chinese companies in Europe as being politically and economically motivated. In a statement, Zhengfei maintained that his firm does not spy for China. While he accused the US of making such moves in levelling criminal charges against … Read more
FSDH has proposed hike in Value Added Tax (VAT) rate and recommended measures for increasing VAT revenue by 218 percent. The bank, in its monthly Economic and Financial Market Outlook, stressed that the proposed increase in VAT rate to 10 percent from five percent will reduce household consumption and compliance with tax payments. Speaking at … Read more
Viacom Inc signed a content distribution agreement with T-Mobile US Inc, under which the media company’s brands including MTV and Nickelodeon would be available to the wireless carrier’s 80million customers, the companies said on Wednesday. The deal enables T-Mobile to bring together live feeds of Viacom’s channels as well as a broad range of … Read more
The Executive Board of the International Monetary Fund (IMF) has concluded its Article IV consultation with Nigeria and called for a removal of fuel subsidy and for the Federal Government to increase its spending on the poor, as a means of reducing poverty in the country. In a statement yesterday the IMF said: “Phasing out implicit … Read more
Japan Display Inc will begin to supply organic light-emitting diode (OLED) screens for the Apple Watch later this year, a breakthrough for the cash-strapped company whose late shift to OLED has cost it orders from Apple. The supply deal would mark Japan Display’s foray into the OLED display market, the two sources familiar with the … Read more
Former House of Representative member, Mr. Ned Nwoko, has said no country can survive without harnessing the potentials in the tourism sector. Nwoko, Chairman of “Project Tourism’’ disclosed this during the formal unveiling and launch of the project organised by Linas International Ltd in collaboration with the Nigerian Tourism Development Corporation (NTDC) in Abuja. … Read more
Jumia and Mastercard are partnering to increase the platform’s investment, grow the e-commerce sector and as well support digital transformation in the continent. According to Jumia, under the new agreement, the two companies will look to build on MasterCard’s presence across Africa, bringing its deep knowledge and expertise in payment solutions and technologies to spark … Read more
Popular social media platform, Facebook in partnership with She Leads Africa, SLA, is set to hold the second edition of ‘#She Means Business, an initiative designed to inspire, empower and train female entrepreneurs across the country to build, grow and start their own businesses. acebook said #She Means Business University Tour will take place across … Read more
The Nigerian National Petroleum Corporation, NNPC, yesterday, said the Federal Government would no longer grant approval for any new gas project that does not abide by its zero gas flare policy. The NNPC, in a statement in Abuja, said this represented the Federal Government’s commitment to a zero gas flare regime, while stating that it … Read more
StarTimes Nigeria has partnered MTN Nigeria to offer mobile internet subscribers on the network a special data bundle for StarTimes ‘ON’ mobile app. With the video streaming bundles on StarTimes ‘ON’ App, MTN subscribers can now enjoy unlimited entertainment and video on demand (VOD) service at a cheaper data price than any other network … Read more
Oando Plc has recorded a N28.8 billion Profit-After-Tax (PAT) in its audited account for the year ended December 31 , 2018, representing a 46 percent increase from the N19.8 billion recorded in 2017. A review of Oando’s results shows positive performance across most of its financial indices; reaffirming the company’s concerted efforts and commitment … Read more
FMDQ OTC Securities Exchange, yesterday, admitted Access Bank Plc’s N15 billion green bonds for trading on its platform. The five-year, 15.5 percent, Fixed Rate Senior Unsecured Green Bond due 2024, is the pioneer climate bonds standard certified corporate green bond issued in Africa. The proceeds from the issuance will be used to finance/re-finance eligible … Read more
Against the backdrop of the bad state of Nigeria’s refineries, the country may have spent about N10 trillion in the provision of pump price subsidy on imported petroleum products from 2006 to 2018. A research report by BudgIT, a public finance focused Non-Governmental Organisation, NGO, said this amount came from the price shocks in … Read more
The Senior Business Development Manager (West) of Sigma Pensions Limited, Mr. John Igiehon, has reiterated the firm’s commitment to prompt resolution of complaints from contributors. Igiehon spoke in Akure, Ondo State, at a sensitisation forum for retirees and prospective retirees in Ondo and Ekiti states, noting that contributors should not hesitate in pointing out … Read more