Once again, stakeholders within the Information and Communications Technology (ICT) sector have voiced their opposition to the proposed amendment of the National Information Technology Development Agency (NITDA) Bill. This bill aims to establish legislation granting NITDA the authority to oversee the administration, implementation, and regulation of Information Technology Systems and […]
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The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has announced to Nigerian Public that the Nigerian Communications Commission (NCC) has approved the disconnection of Deposit Money Banks (DMBs) by Mobile Network Operators (MNOs) in Nigeria if they fail to pay their outstanding debt for Unstructured Supplementary Service Data […]
The Director General of the Budget Office of the Federation, Ben Akabueze, during the induction of the newly-elected lawmakers of the 10th National Assembly expressed that Nigeria is rapidly surpassing its constrained borrowing capacity and could face trouble if Nigeria exceeds its borrowing limits. While Nigeria’s debt-to-GDP ratio is still […]
The Advertising Regulatory Council of Nigeria (ARCON) has released vetting rates for social media advertisements in Nigeria and has begun enforcing them. This means that Nigerians who wish to advertise on social media platforms will now have to bear the additional cost, which can range from N7,500 to N100,000. The […]
Cascador, an accelerator program that assists mid-stage entrepreneurs in Africa with scaling their mission-driven businesses, reported that its aid to companies in Nigeria has resulted in small and medium-sized enterprises raising $23 million in growth capital over the course of four years. Cascador’s Co-founder, Mr Dave DeLucia, says Cascador’s intervention […]
The Central Bank of Nigeria (CBN) has authorized foreign banks to work with their parent companies for the purpose of syndicating foreign currency-denominated loans (dollar loans) with the aim at improving dollar liquidity through foreign banks’ representatives in Nigeria. The Director of the Financial Policy and Regulation Department, Muhammad […]
The Central Bank of Nigeria (CBN) says that only 57.4 million individuals out of Nigeria’s population of over 200 million have a Bank Verification Number (BVN). The BVN project was launched in February 2014 in collaboration with the Nigerian Interbank Settlement System (NIBSS), the Bankers’ Committee, and deposit money […]
A London court has found Ike Ekweremadu, a former Deputy Senate President of Nigeria, his wife, and a medical intermediary guilty of participating in a scheme to extract a man’s kidney. As a result, Ekweremadu, along with his wife and the intermediary, have been sentenced to prison under the […]
Zenith Bank, the largest bank in Nigeria based on market capitalization, has left millions of customers in a difficult situation as they are facing a complete infrastructure outage due to a fire that broke out in their main data center. The outage is affecting the bank’s services, and at a […]
The President of Nigeria, Major General Muhammadu Buhari (retd.), has launched the ‘Giwa 2 Project’, an advanced communication facility intended for the exclusive use of the Nigerian Armed Forces. The project is designed to provide a secure and dedicated communication channel for real-time audio and video transmissions during military […]