NEM Insurance has reported a 249 percent increase in its profit before tax (PBT) in 2023, soaring from N5.5bn in 2022 to N19.2bn. In a statement, Andrew Ikekhua, the Managing Director, said the profit surge is a testament to NEM Insurance’s financial health and business strategies, which enabled it to thrive despite a turbulent economic […]
Governor of Enugu State, Dr. Peter Mbah, has been conferred with a National Micro, Small and Medium Enterprises, MSMEs, Award by the Office of the Vice President on the World MSME Day for his outstanding contributions to the MSME sub-sector in his state. Presenting the award on behalf of the Vice President during this year’s National MSME […]
Galaxy Backbone Limited has earned the prestigious Tier IV Certification of Constructed Facility (TCCF) of the Galaxy Backbone Data Centre from Uptime Institute Professional Services, marking a significant milestone in its commitment to excellence and reliability in digital infrastructure services. This prestigious certification recognizes Galaxy Backbone’s commitment to delivering the highest standards of reliability, security, […]
WhatsApp is developing a new generative AI feature that allows users to create personalized avatars. This feature, which was discovered in the latest WhatsApp Beta for Android 2.24.14.7 by WABetaInfo, will utilize user images, text prompts, and Meta’s AI Llama model to generate these avatars. The new feature will enable users to envision themselves in various settings, […]
Meta’s Threads social platform has reached over 175 million monthly active users, as announced by CEO Mark Zuckerberg on Wednesday. This news comes just shy of the platform’s first anniversary, marking a year of commendable growth and development for the app. Threads, which launched on July 5, 2023, has had its user base steadily increasing since […]
The Federal Government of Nigeria, through the National Information Technology Development Agency (NITDA), has revealed plans to establish research centres with cutting-edge technologies across the country’s six geo-political zones. These centres will concentrate on innovations in fields such as Artificial Intelligence (AI), Internet of Things (IoT), and blockchain technology. The Director-General of NITDA, Kashifu Inuwa, noted […]
The financial markets have reached a pivotal milestone with the approval of spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs). Unlike their futures-based predecessors, these ETFs directly hold the underlying assets, offering investors a transparent and potentially less volatile way to gain exposure to leading cryptocurrencies. This development signifies a major step in the […]
In light of recent developments aimed at strengthening Nigeria’s fintech sector, Ade Bajomo, President of FintechNGR, led a team from the Association’s Governing Council in an engagement with the Central Bank of Nigeria (CBN) to chart the way forward. Receiving the delegation at the CBN headquarters in Abuja, Philip Ikeazor, Deputy Governor of Financial System […]
Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has announced that the Federal Government has waived withholding tax for farmers, small businesses, and manufacturers. Oyedele disclosed this in a post on his X (Twitter) handle, stating “As part of the ongoing fiscal policy and tax reforms, a new withholding […]
The Central Bank of Nigeria (CBN) has issued a directive to Deposit Money Banks (DMBs) and authorised forex dealers, directing them to accept old and lower US dollar denominations from customers in the country. According to the apex bank, the directive became necessary as it had been inundated with complaints from customers after it conducted consumer market […]
