Meta, the parent company of Facebook, has announced the availability of two new monetisation features for content creators in Nigeria and Ghana. Speaking on Monday, Meta said the features — which include Facebook in-stream ads and Facebook ads on reels — will allow creators to earn money for creating original videos and building communities. […]
A newly released report by the National Bureau of Statistics (NBS), said total capital importation into Nigeria rose by 210.16 per cent to $3,376m in the first quarter of 2024. According to the report, the rise was from $1,088m recorded in Q4 2023. The increase is higher than the $1,132m recorded in Q1 2023, […]
The Central Bank of Nigeria has issued new guidelines for Deposit Money Banks regarding the deposit of foreign currency notes. This directive was detailed in a circular issued by the Director of Currency Operations, Mohammed Solaja, and posted on the bank’s website on Friday. The CBN specified that each bank is allowed a maximum […]
The Central Bank of Nigeria (CBN) says the foreign exchange (FX) price verification system (PVS) portal used by importers has been discontinued. The CBN disclosed this in a statement on Thursday signed W. J. Kanya, its acting director of trade and exchange department. In August 2023, the CBN had said price verification from the […]
The number of estimated electricity customers rose by 10.22 per cent to 6.43 million in Q1 2024, according to data from the National Bureau of Statistics (NBS). The NBS report, ‘Electricity Report for the first quarter (Q1) of 2024’ released on Tuesday in Abuja, said the increase was against the 5.83 million recorded in […]
The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited. Harris, who disclosed this at a meeting with the […]
Femi Otedola, the billionaire businessman, has acquired an additional 2.22 percent shares in FBN Holdings. The acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Monday. The fresh acquisition further cements the billionaire’s control in the company as his shareholding has now reached 11.63 percent — the highest. According […]
The National Bureau of Statistics (NBS) says electricity distribution companies (DisCos) in Nigeria made a total of N291.62 billion in the first quarter (Q1) of 2024. The revenue by DisCos rose by 17.91 percent compared to the N247.33 billion recorded in Q1 of 2023, the bureau said. NBS, in its latest report on electricity […]
Socio-Economic Rights and Accountability Project (SERAP) has sent a complaint to the World Bank Inspection Panel urging the Panel “to probe allegations of corruption in the spending of the loans and other funding facilities obtained by the Federal Government and Nigeria’s 36 state governors and to review the implementation of all Bank-funded projects by […]
The National Identity Management Commission (NIMC) has warned Nigerians against the activities of some unauthorised websites harvesting people’s data The websites are idfinder.com.ng, Verify.ng, championtech.com.ng, trustyonline.com, and anyverify.com. The NIMC gave the warning in a statement signed by Kayode Adegoke, its head of corporate communications, on Saturday. On June 20, Paradigm Initiative, a pan-African […]
