Qatar Airways expands operations to Kano, Port Harcourt
Qatar Airways has expanded its operations in Nigeria with the launch of four weekly flights to Kano and three weekly flights to Port Harcourt (PHC). This announcement was made on its official page. The flights are to commence from March 2, for the Kano routes and March 3, for the Port Harcourt route. Kano and […]
Rewane projects CBN will spend $8 billion defending naira in 2022
Bismarck Rewane the Managing Director of Financial Derivatives Company Ltd, yesterday, projected the Central Bank of Nigeria (CBN) will spend between $8 and $10 billion to defend the naira in 2020. This, he said, would drag the country’s gross external reserves to between $30 and $32 billion this year. The gross reserves, which resumed after […]
Organisations in Nigeria, South Africa, Kenya, others suffer 1,615 weekly cyberattacks
Firms in Nigeria, South Africa, Kenya and other parts of Africa recorded the highest volume of cyberattacks in 2021, with an average of 1,615 weekly breaches. This was disclosed by CheckPoint Software Technologies, which said it represented a 15 per cent increase from 2020. In second place is Asia Pacific (APAC) with an average of […]
Economists predict stagflation for Nigeria in 2022
Economists have predicted Nigeria’s inflation rate at 12% and an 8.2% economic growth rate in 2022 which is the third worst inflation rate out of over 32 countries surveyed by Bloomberg. Nigeria was third from bottom behind Turkey and Argentina with an inflation rate target at the end of Q4 of 12.1%, the European and […]
Telecom Operators Restore Twitter Access in Nigeria
Telecommunication operators have restored access to Twitter Operation after the Federal Government restored the microblog site’s operation in Nigeria. Due to this, Nigerians now have access to Twitter without using a Virtual Private Network (VPN). Twitter was suspended in Nigeria in June, 2021, after the federal government alleged the microblogging platform was enabling the spread […]
World Bank projects Nigeria’s economy to grow by 2.5% in 2022
The World Bank on Tuesday projected Nigeria’s economy to grow by 2.5 per cent in 2022. In its latest Global Economic Prospects report released in Washington, the Bretton Wood institution cited higher oil prices and accelerated growth in telecommunication and financial services as some of the factors responsible for the rebound of the country’s economy. […]
No Hacker Accessed Database of 71million Nigerians – NIMC
The National Identity Management Commission, NIMC, has denied that any hacker found his way into the servers of the commission. The issue of data security has been at the forefront since the federal government introduced the national identity database. The Minister of Communications and Dugital Economy, Isa Pantami sometimes in December 2021, announced that 71 million […]
Standard Chartered Bank To Shut Down Half Of Nigeria Branches
Standard Chartered Plc says it is closing about half of its Nigerian branches in a pivot to digital banking. The decision was reached following the finance industry coming under pressure from mobile money providers. The London-listed lender’s local unit has already started to shut some offices in December and will eventually operate only 13 branches […]
Zainab Ahmed: Nominal GDP to rise to N184 trillion in 2022
The FG through the Minister of Finance, Budget, and National Planning Mrs Zainab Ahmed has revealed that it expects Nigeria’s nominal GDP to rise from N168.60 trillion in 2021 to N184.3 trillion in 2022. Zainab Ahmed disclosed this during the public presentation and breakdown of the 2022 budget held in Abuja, this week. On a […]
Investors to pay 10% Capital gain tax on sale of shares in any Nigerian company
In the Nigerian Stock Exchange Investors are to pay a Capital Gains Tax of 10% on the sale of shares according to provisions of the signed Finance Act 2021. The tax is applicable on the disposal of shares worth N100 million and above. This was captured under Part 1 Section 1. Of the Act, which […]