Key Points: Nigerian Naira (NGN) depreciated to N1,234 per USD on Monday at the official foreign exchange market. This represents a 5.26% decline (N65) from Friday’s rate (N1,169.99). The weakening coincides with CBN Governor Yemi Cardoso’s recent statement prioritizing reserve protection over defending the Naira. Market Fluctuations and CBN Policy Shift Earlier optimism of the […]
5,000 Electric Motorbikes Hit the Streets Ride-hailing giant Bolt and Kenyan fintech leader M-KOPA have joined forces to launch a massive electric motorbike fleet in Kenya. This groundbreaking partnership marks a significant leap towards eco-friendly urban mobility in the East African nation. A Win-Win for Drivers and the Environment Get ready to see over 5,000 […]
A collaborative effort to improve safety in ride-hailing services emerged from a recent meeting in Lagos, Nigeria. Representatives from the Lagos State Ministry of Transportation, the Nigerian Police Force, and ride-hailing company inDrive convened to discuss and strategize on this critical issue. Emphasis on Education and Enforcement: The Lagos Ministry of Transportation underscored the importance […]
Zipline Soars Past 1 Million Deliveries: A Drone Revolution Takes Flight Delivery Giant Reaches Historic Milestone Zipline, a pioneer in drone logistics, has achieved a remarkable feat – one million deliveries completed! This milestone marks a significant leap forward in the delivery landscape. The historic occasion was celebrated with the delivery of vital medical supplies […]
The Economic and Financial Crimes Commission (EFCC) has taken action to safeguard the stability of Nigeria’s foreign exchange market. The agency chairman, Ola Olukoyede, revealed a concerning scheme involving peer-to-peer (P2P) forex trading platforms operating outside official regulations. These platforms, according to Olukoyede, pose a significant threat and have facilitated over $15 billion in transactions […]
The 2024 Africa’s Beacon of ICT Merit and Leadership (ABoICT) lecture dives into the heart of artificial intelligence (AI) within the digital economy. Titled “Artificial Intelligence (AI): The Good, The Complex and The Anticipated,” this thought-provoking event will kick off the ABoICT Merit and Leadership Awards on May 25th, 2024, at the Four Points by […]
In recognition of the urgent need for finance professionals to embrace technological advancements, The Techy Accountant, in partnership with the Association of Chartered Certified Accountants (ACCA), is hosting the groundbreaking AccounTech Summit in Lagos this year. This event promises to navigate the evolving landscape of the finance industry in the digital era, serving as a […]
A late-night statement from Nigeria’s power transmission company, TCN, confirmed a troubling development. Vandals targeted four towers on a crucial power line (Jos-Gombe) around 3:32 pm on Monday. This act of destruction caused widespread blackouts across three states: Adamawa, Gombe, and Taraba. The attack on the power line had a domino effect. The vital stations […]
The Nigerian Electricity Regulatory Commission (NERC) is handing over control of electricity in Enugu State to the Enugu State Electricity Regulatory Commission (EERC). This follows a change in Nigerian law that allows states to regulate their own electricity markets. NERC Why the Change? A recent amendment to the Nigerian Electricity Act (2023) NERC allows states […]
Coronation Group, a leading African investment firm, launched Coronation WIN, a groundbreaking initiative to empower women in finance and technology. The well-attended event at Coronation Plaza, Lagos, featured a tour of the WIN Hub, an art exhibition, and a launch ceremony. He said: “Today marks a historic moment as we launch Coronation Women Initiative Network. […]