nairametrics news
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Business Five firms abandon Facebook’s ‘Libra’ currency, as Vodafone announces exit – Nairametrics
Three months after Mastercard and Visa pulled out of Libra, a cryptocurrency owned by Facebook, it seems the exit door is still open as another member of the Libra Association takes a bow. The new member exiting Libra is a telecommunications company, Vodafone.... Read more via Nairametrics...- Nigeria Business News
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Business Afrinvest MD predicts when the naira will finally be devalued – Nairametrics
Only one thing can prevent Nigeria’s currency (the naira) from being devalued by the second half of 2020, and that is a radical increase in crude prices. This is according to Ike Chioke, the Managing Director of Afrinvest West Africa Limited. Chioke reportedly made the prediction over the...- Nigeria Business News
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Business Guinea-Bissau calls on Nigeria to assist in rice production – Nairametrics
In a bid to meet its food sufficiency, food security and nutrition targets, Guinea-Bissau has called on Nigeria to assist in the production of rice. The call was made by the Guinean Ambassador to Nigeria, Henrique Adriano Da Silva during his visit to the Federal Ministry of Agriculture and …...- Nigeria Business News
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Business Shell declares force majeure, to stop Bonny Light crude oil export – Nairametrics
Shell Petroleum Development Company will stop Bonny Light crude oil exports after announcing a force majeure on the operation. The subsidiary of Royal Dutch Shell in Nigeria had made the decision due to circumstances beyond its control. According to a spokesman, Shell’s decision to declare a...- Nigeria Business News
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Business GTBank crashes payday loan to 1.33% monthly – Nairametrics
Guaranty Trust Bank, Nigeria’s largest bank by market capitalization, has crashed its interest rate for its payday loans from 1.75% to 1.33% per month. The bank reviewed its rate, which is published on its website, as it becomes one of the lowest in the lending space.... Read more via...- Nigeria Business News
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Business Smartphone users spend $120 billion on mobile apps in 2019 – Nairametrics
Smartphone users spent $120 billion on mobile apps, as 204 billion apps were downloaded in 2019, setting a record higher than that of 2018, the annual State of Mobile report has shown. The annual report, “State of Mobile” by App Annie disclosed that the number of mobile apps downloaded climbed...- Nigeria Business News
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Business UBA Recruits 4000 New Staff, Promotes Over 5,000 Staff members; increases Salaries Up to 170%. – Nairametrics
Lagos, Nigeria, January 06, 2020: Over 5,000 staff of the United Bank for Africa (UBA) Plc, started the new year with a lot of cheer as the bank yesterday announced its promotion to new grades as well as salary upgrades with immediate effect this January.... Read more via Nairametrics –...- Nigeria Business News
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Business FG may increase electricity tariffs to improve power supply – Nairametrics
Nigerians will start paying more on electricity supply as the Federal Government plans to boost power supply. The Minister of Power, Saleh Mamman, said the hike was inevitable due to the rising cost of electricity generation in Nigeria. According to Mamma, improvement in electricity supply...- Nigeria Business News
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Metro Border closure: Senate to probe closure of Nigerian businesses in Ghana – Nairametrics
The Nigerian Senate has directed its Committees on Foreign Affairs and Trade and Investment to investigate the alleged shutdown of Nigerian businesses in Ghana. The probe was initiated as the operation of about 600 businesses belonging to Nigerians were allegedly shut... Read more via...- Nigeria Metro News
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Business Jumia shuts down operation in Rwanda – Nairametrics
Africa’s e-commerce giant, Jumia, has continued to shut down its operations across Africa, with the latest being Rwanda. The company recently sent a message to its Rwandan customers saying that “We regret to inform you that Jumia will suspend our.... Read more via Nairametrics –...- Nigeria Business News
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Business Top Nigerian CEOs that lost their jobs in 2019; what are they doing now? – Nairametrics
2019 has been an interesting year in corporate Nigeria. As expected, a lot of the companies on the Nigerian Stock Exchange released quarterly financial statements, some of which were impressive and others not so impressive.... Read more via Nairametrics – https://ift.tt/2PDbUzO Get more...- Nigeria Business News
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Business Nigeria may fall into recession if…, World Bank warns – Nairametrics
The World Bank has warned that Nigeria may fall back into recession, highlighting conditions that may drag the nation’s economy into the downturn witnessed in 2016. The bank stated in its latest Nigeria’s Economic Update, that a decline in oil prices to the levels seen in 2016 would...- Nigeria Business News
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Business Inflation may rise if borders are not opened – LCCI – Nairametrics
Nigeria’s inflationary trend may move higher in the coming months if the nation continues to close its borders to its West African countries. This is according to the outgoing President of LCCI, Babatunde Ruwase... Read more via Nairametrics – https://ift.tt/2sKRGfx Get more: Nigeria...- Nigeria Business News
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Business Data War: MTN edges out Airtel for first time in 5 months as 493,556 subscribers dump Glo, 9mobile – Nairametrics
Competition for internet subscribers in Nigeria took a different turn as Nigeria’s largest mobile telecommunication company, MTN, led the way in the month under review. Operators in the industry showed no sign... Read more via Nairametrics – https://ift.tt/2r3qzvY Get more: Nigeria Business News- Nigeria Business News
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Business KPMG lists trends that will determine Nigerian economy in 2020 – Nairametrics
KPMG has listed global pressure points and external shocks, fiscal unsustainability, exchange rate market, credit and reactive policy environment as factors that would determine the success of the Nigerian economy in 2020.... Read more via Nairametrics – https://ift.tt/37MbWNV Get more...- Nigeria Business News
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Business Mavin Records expands, opens new offices – Nairametrics
In a bid to expand its operations, Mavin Records, Africa’s leading record label, has commissioned its new creative and corporate office spaces in Lagos. In a statement signed by the Chief Executive Officer of the record label, Michael Collins Ajereh a.k.a Don Jazzy, the brand stated that it...- Nigeria Business News
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Business Prices of tomatoes, frozen foods, onions, others jump, as low demand hits imported rice – Nairametrics
As the Christmas festive season approaches, Nairametrics Research Team found out that the prices of major household commodities have increased significantly in the past two weeks. Also, as a result of varieties of local rice in major markets, prices of foreign rice slightly reduced.... Read...- Nigeria Business News
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Business Seyi Tinubu acquires Sim Shagaya’s advertising company, E-Motion – Nairametrics
Seyi Tinubu has acquired advertising company, E-Motion Advertising, founded by Sim Shagaya. Tinubu, an industry player in outdoor advertising, acquired E-Motion through his company, Loatsad Promomedia Limited. The acquisition is the latest in the advertising world. Both E-Motion Advertising...- Nigeria Business News
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Business Nigerian startups dominate winners’ list at the maiden Africa Netpreneur Prize Initiative – Nairametrics
It was an interesting time, over the weekend, for the ten African startups that won a total of $1 million at the grand finale of the maiden edition of the Africa Netpreneur Prize Initiative (ANPI). The event took place in Accra and was attended by Jack Ma, the Chinese … Read more via...- Nigeria Business News
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Business Multiple taxes scare investors, stifle economic growth, ALTON warns – Nairametrics
The Association of Licensed Telecoms Companies of Nigeria (ALTON) has called on the Federal Government to address the issue of multiple taxes which it described as irrelevant, as it stifles economic growth. Chairman, ALTON, Gbenga Adebayo, in an interview, said the development had been a...- Nigeria Business News
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