Uganda handed nearly $30m to members of parliament (MPs) to buy new cars this week, sparking outrage in a poor country where the coronavirus pandemic has wreaked havoc. Each of the 529 lawmakers received 200 million shillings ($56,500) to get new vehicles at a time when COVID-19 cases are surging. On June 18, President Yoweri…
One of the telecom giants in Nigeria, Globacom has said that it will reward subscribers with the 22 times the value of every recharge from N100. The telecommunications company, in a statement said “Customers who recharge with N100 will be credited with N2,200 value. The statement said further that subscribers would first get the N100…
When in February, the Central Bank of Nigeria (CBN) directed banks and other financial institutions to cease transactions in cryptocurrencies and facilitating payment for cryptocurrency exchanges, several stakeholders raised concern about the directive. In the memo, dated February 5, the apex bank instructed banks and other financial institutions to identify individuals or entities that transact…
Many, with the trend of appointments, particularly in the private sector in Nigeria, see women as shattering glass ceilings in their numbers. The past two years have seen Mrs Toki Mabogunje and Hajiya Saratu Iya Aliyu emerge as Presidents of the Lagos Chamber of Commerce and Industry (LCCI) and the Nigerian Association for Chambers of…
The National Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has reported a profit before tax of N3.37 billion for the year ended Dec. 31, 2020. The News Agency of Nigeria (NAN) reports that Mr Adeyemi Adetunji, Chairman, Board of Directors, NETCO, made the disclosure on Thursday at the…
Fidelity Bank Plc on Thursday splashed N39 million on 15 customers in the final draw of its Get Alert In Millions (GAIM) Season 4 savings promo. The News Agency of Nigeria (NAN) reports that the cash prizes were in the categories of N10 million grand prize, N3 million, N2 million and N1 million, respectively. NAN…
The Abuja Chamber of Commerce and Industry (ACCI) has advised the Abuja Municipal Area Council (AMAC) and other government bodies against alleged plans to impose N100,000 levy on bakery and other businesses. Dr Al-Mujtaba Abubakar, ACCI President, in a statement on Thursday in Abuja called the attention of the Abuja area council to the current…
Bitcoin extended gains past $32,000, continuing a rebound after erasing most of its gains for the year. The latest leg up came in as Elon Musk, Jack Dorsey and Cathie Wood spoke during a panel on the future of Bitcoin. The largest digital currency rose more than 8% to about $32,270 as of 2:27 p.m….
Saudi Aramco confirmed that some company files were leaked after hackers reportedly demanded a $50 million ransom from the world’s most-valuable oil producer. “Aramco recently became aware of the indirect release of a limited amount of company data which was held by third-party contractors,” the Middle Eastern oil major said Wednesday in an email. “We confirm that…
