The United Kingdom Prime Minister, Liz Truss, on Thursday, October 22, 2022, stepped down from her role. Her resignation was coming barely two months after coming into office. Truss, who spend 45 days in office, said she would step down after a week-long emergency contest to find her successor She announced her decision to step down on Thursday outside Downing Street. “I entered office with a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit,” Truss said. She added, “I recognise that, given the situation, I cannot deliver the mandate on which I was elected…
Author: Elvis Eromosele
President Muhammadu Buhari has signed into law the Nigeria Startup Bill to open a new progressive chapter for Nigeria’s tech and innovation community. The new law mandates government to set up a N10 billion Investment Fund for young innovators and also make provision for incentives and tax holidays to encourage local innovators. It is a new deal that will further strengthen Nigeria’s startup community, touted as Africa’s largest ecosystem, with legal and funding instruments. According to reports, African startups raised over $4 billion in 2021 with Nigeria accounting for over 35 per cent of that amount. Nigeria is home to…
No fewer than 300,000 uncollected Permanent Voters Cards (PVCs) are lying in the local government of Independent National Electoral Commission (INEC) offices spread across the twenty-five local government areas in Delta state. INEC Delta State Electoral Commissioner, Rev Monday Udoh Tom who made the revelation during INEC PVC Collection/ Political Campaigns sensitization to the Delta State House of Assembly in Asaba, Delta State disclosed that the Commission carried over 244,715 uncollected PVCs from the 2019 general elections, while it has so far received about 69,946 PVCs for those who registered between June –December 2021 and 17,000 transfer PVCs, bringing the…
The Federal Government has engaged a private firm in Build, Operate and Transfer (BOT) scheme in order to keep an appropriate record of helicopter movements in and out of Nigeria. Mr. Stanley Chike, the Managing Director, Naebi Dynamic Services Limited informed journalists in Lagos that the firm was investing in multi-billionaire naira state-of-the-art equipment to monitor activities in the aviation and the oil sectors across the country. He explained that the firm is investing in a multinational control room centre, radar equipment and navigational facilities to monitor the activities in the two sectors and beyond. According to him, with this…
The Christ Chapel International Churches has announced a grant of N1 million to 10 entrepreneurs to support their businesses. This is part of the highlights of its 40th anniversary and the commencement of the 2022 annual camp meeting. According to the Chairman of the anniversary committee, Pastor Niyi Odetayo, the grant is mainly for members of the church who have established businesses and need small support to expand their operations. He added that the church is also providing solar-powered electricity for the Bode Thomas Police Station in Surulere, Lagos in its efforts to combat crime. Odetayo said that the solar-powered…
Nigeria is in a precarious situation, financially. The federal government claims it doesn’t have money, so it is borrowing, from all sorts of places for all sorts of reasons. Some say that the government is borrowing even to pay the salaries of federal workers. In June, we learnt that the nation is borrowing to pay the interest on the loans that it has taken. It is a difficult season. Things have never been this bad. Today, inflation stands at over 20 per cent (according to the National Bureau of Statistics (NBS); the exchange rate is N730 – $1 (black market…
Japanese electronics maker NEC has signed a charter contract for a new cable-laying ship to help it meet the growing global demand for submarine cables. NEC is ranked second in the world for building undersea cable systems that serve as arteries for cross-border data communications. The vessel chartered from a British company is now preparing to set sail from NEC’s plant in Kitakyushu, western Japan. The ship can store about 7,000 kilometres of cable. NEC says the large capacity makes installation more efficient. NEC official Kashima Takahiro said ” When we use SNS or the internet, all the data travels…
The National Bureau of Statistics (NBC) has said that Nigeria’s headline inflation rate (all items index) in September 2022 was 20.77 per cent on a year-on-year basis. The agency’s report, which was signed by Prince Adeyemi Adeniran, the Statistician-General, National Bureau of Statistics, (NBS), and made available to journalists in Abuja on Monday, noted that the figure was 4.14 per cent points higher compared to the rate recorded in September 2021, which was 16.63 per cent. It explained that the development shows that the general price level for all items index rose by 4.14 per cent in September 2022 when…
The Digital Nigeria International Conference and Exhibition formerly known as eNigeria International Conference and Exhibitions is set to hold in eight days, from Tuesday, October 25 to end Thursday 27. Organised by the National Information Technology Development Agency (NITDA), Digital Nigeria is the flagship awareness programme in the Digital Economy sector. President Muhammadu Buhari is expected to declare the event opened assisted by the Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami. The Chief Host is the Director General of NITDA, Kashifu Inuwa Abdullahi, The annual event was re-branded as Digital Nigeria to further expand the scope…
Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has proposed top-quality digital products and payment collection solutions for business enterprises and merchants in Nigeria. The financial solutions include C’Gate Payment, Payment Gateway Service, PrimePay and POS terminal. Having observed the challenges businesses face when receiving payments during transactions, the bank came up with digital payment products that will enable business owners to collect payments for transactions more efficiently. On the digital products, Head of Digital and eCommerce, Stanbic IBTC Bank, Olutimi Ibrahim said the digital solutions were carefully thought out with business owners in mind to allow…