Business
The rhythm of Nigeria's business world
In a significant move aimed at curbing fraud and addressing lapses in customer verification processes, the Nigeria Inter-Bank Settlement System (NIBSS) has issued a warning against unlicensed financial services companies masquerading as deposit-taking institutions. In a memo to banks, fintechs...
In a strategic shift announced at the Morgan Stanley Global Consumer & Retail Conference, consumer goods giant Procter & Gamble (P&G) is set to dissolve its on-ground operations in Nigeria, opting for an import-only business model. The company's Chief Financial Officer, Andre Schulten, cited the...
Pivo Africa, the Nigerian fintech startup that secured over $2.6 million from investors, including Y Combinator and Ventures Platform, is officially shutting down.
The company, founded in July 2021 by Nkiru Amadi-Emina and Ijeoma Akwiwu, aimed to provide banking services to small logistics and...
Nigeria
COP28: Nigeria to Boast Africa's Largest Electric Transit Fleet, Announces Foreign Affairs Minister Yusuf Tuggar
Amidst the COP28 Climate Summit in Dubai, Nigerian Foreign Affairs Minister Yusuf Tuggar has revealed a transformative plan for Nigeria to boast the largest electric mass transit fleet in Africa.
The Federal Government, under Tuggar's leadership, aims to escalate the number of electric buses...
In a historic moment, Taylor Swift secures the fifth spot in Forbes' 20th Annual Ranking of The World’s 100 Most Powerful Women, becoming the first entertainer to land in the top five.
European Commission President Ursula von der Leyen maintains her position at the pinnacle for the second...
Nigeria
Bitmama Just Made a Major Fintech Power Move by Acquiring Payday – Here's What You Need to Know
Bitmama Inc., a prominent blockchain payments platform, has officially acquired Payday, a virtual card service provider. The acquisition, facilitated through Bitmama's cross-border payments product, Changera, signifies a transformative shift in the industry.
Despite initial speculations of a...
A groundbreaking report by SB Morgen Intelligence, titled "Paying the Price on Health," has unearthed a concerning reality within Nigeria's healthcare landscape. Against the backdrop of economic challenges, the report forewarns that over-the-counter medications may become financially out of...
The Nigerian Naira faced a decline, reaching N1,170 per dollar in the parallel market on Monday, compared to N1,166 recorded last week Friday. This depreciation stirred concerns among market observers and economic analysts.
However, a contrasting narrative unfolded in the Nigerian Foreign...
Amid assurances from President Bola Ahmed Tinubu that Nigeria is open for business, a persistent forex crisis continues to cast a shadow on the country's financial stability and international reputation. Despite claims that barriers to investment have been dismantled, the ongoing struggle with...
Nigeria
Tinubu and German Chancellor Scholz Ink Agreement for Extensive Grid Expansion and Energy Overhaul with Siemens Partnership
President Bola Tinubu has inked an agreement with German Chancellor Olaf Scholz to enhance Nigeria's grid capacity and elevate electricity supply. The deal, aimed at expediting the Presidential Power Initiative (PPI), was signed during the ongoing COP28 in Dubai.
Initiated in 2019, the PPI...
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