The Federal Government of Nigeria (FGN) has officially issued a $500 million domestic dollar bond, opening for subscription on August 19, 2024. This bond, part of the government’s financing initiatives, will carry a 9.75 per cent per annum interest rate and is set to mature in 2029. The auction for this bond will remain open until August 30, 2024, giving investors a sufficient window to participate in this offering. The settlement date, when investors will have their purchases confirmed and interest will begin accruing, is set for September 6, 2024. This bond issuance marks a significant step in Nigeria’s financial…
Author: Elvis Eromosele
The Central Bank of Nigeria (CBN) has reported a 130 per cent surge in remittance inflows, with the figure reaching $553 million in July 2024. According to the CBN, this milestone represents the highest monthly remittance inflows ever recorded, marking a significant increase from the same period in 2023. This is according to a statement by Hakama Sidi Ali, the Acting Director of Corporate Communications, on Tuesday, August 20, 2024. The CBN credits this surge in remittance inflows to a series of strategic policy measures designed to enhance liquidity in Nigeria’s foreign exchange market. The statement read: “The Central Bank of…
Dr Frederick Mordi, the acclaimed author of the newly released novel ‘The Talent Coach’, recently met with Ivie Urieto, a remarkable 9-year-old chess prodigy whose passion for the game is driving her to use chess as a tool for social change in Abuja, Nigeria’s capital city. ‘The Talent Coach’ is an inspiring and informative book that explores the delicate and intricate process of talent development. Mordi’s novel challenges the conventional notion that talent is solely innate, offering a fresh perspective that both nature and nurture play crucial roles in shaping abilities. The 208-page book, divided into 12 insightful chapters, is…
Across industries, one topic of conversation remains at the forefront of strategic business discussions: the integration of innovative technologies that protect the data of consumers. This is even more true for the betting industry which has some of the strictest regulations, ensuring bettors’ safety. Taking these high-security standards seriously and going beyond these regulatory mandates is Betking, a leading betting platform that has continued to design cutting-edge technologies that meet the laid-down industry standards, providing robust systems to enhance customer safety and trust. As the new football season kicks off across leagues and beyond, BetKing remains at the forefront, dedicated…
Adebayo Adelabu, the minister of power has announced a 25 per cent increase the Nigeria’s power generation, stating that this has occurred within one year of his appointment to head the ministry. Adelabu disclosed this at the inaugural meeting of the Inter-Ministerial Power Sector Working Group held in Abuja on Wednesday. According to him, the power sector remains a major driver of national economic growth, stressing the need for collaboration in tackling the challenges that could hinder the power sector from achieving its full potential. He said, “The President meant his words that he would give us all the support,…
Covenant University, a leading private institution, has been honoured with the title of Most Innovative Tertiary Institution in Nigeria at the Titans of Tech Awards 2024. The prestigious award ceremony held at the Oriental Hotels, Victoria Island, Lagos recently. This recognition underscores Covenant University’s commitment to pioneering technology education in Nigeria. The institution’s innovative approach includes a robust practical technology curriculum designed to prepare students for successful careers in tech and beyond. The establishment of the Hebron Startup Labs, a dynamic technology incubation hub on campus, further exemplifies its dedication to advancing sustainable technological development. Prof. Abiodun Adebayo,…
By Elvis Eromosele In today’s economic landscape, uncertainty and volatility have become the norm. Businesses and consumers find themselves trying to navigate uncharted waters, particularly in Nigeria, which is grappling with economic instability, fluctuating inflation rates, and shifting consumer. Navigating these challenges requires a strategic approach that addresses immediate concerns while building long-term resilience. Many are encountering the true meaning of VUCA for the first time. VUCA, as defined by TechTarget stands for volatility, uncertainty, complexity, and ambiguity—qualities that make situations difficult to analyze, respond to or plan for. To address these complexities and promote innovative and sustainable solutions, MediaConsortium, a leading authority in brand,…
A gathering of technology industry leaders at the Titans of Tech Conference and Expo 2024 has underscored the pivotal role of innovation in driving Africa’s development. Themed “Tech for Good,” the conference explored how technological advancements can be harnessed to address the continent’s challenges and unlock its immense potential. Hosted by Dr. Don Pedro Aganbi, Managing Consultant, TechTV Nigeria, the conference featured prominent speakers including Pastor Lekan Balogun, CEO of NetAccess Systems; Engineer Abisoye-Coker Odusote, Director-General of the Nigerian Identity Management Commission (NIMC); and Dr. Martin Ikpehai, Vice President of the Information Security Society of Africa. Engineer Abisoye-Coker Odusote highlighted…
The Nigerian Communications Commission (NCC) has issued a directive to telecommunications operators to simplify their tariff plans, bundles, and promotional activities. This move aims to provide clear, easy-to-understand, and accurate information about the cost of voice, short messaging service (SMS) and data services to subscribers. The directive, titled “Guidance on the Simplification of Tariffs in the Nigerian Communications Sector,” was issued on July 29, 2024. It mandates Mobile Network Operators (MNOs) to publish a comprehensive table showing the features of their tariff plans and bundle offers. The table should contain all necessary information for subscribers to make informed decisions, including…
Nestlé Nigeria underscored its commitment to youth empowerment and skill development at the recent graduation ceremony of ten young trainees from its Technical Training Centre (TTC) in Agbara. Since the program’s inception in 2011, the company has invested over six billion naira in upskilling young Nigerians, demonstrating its dedication to fostering the next generation of skilled professionals. Graduating in the second stream of the seventh batch of the program, these young men and women completed an intensive 18-month program that blends theoretical and practical engineering education. This rigorous training, which culminates in the City and Guilds of London Technicians’ Certification,…