Daily Juice
FG pays foreign firm $496m for contract violation
Herconomy Updates
We are Live on Android and iOS
Our Herconomy app is now live on Android and iOS to make saving much easier for you!
Head on to the Google play store and iOS App store to download the app NOW!
And don’t forget to set up your easy save, with as little as 50 Naira.
Herconomy Conversations
How are you navigating school resumption this term?
It can be quite stressful moving back to morning wakeup and drop offs.
This Herconomy Instagram Live is focused on providing millennial mums with a guide to enable them, their children and family have a good school season.
Follow us on Instagram so you don’t miss out on this sizzling session.
September With Herconomy
What are your plans for this month?
We are here with a load of thrilling conversations for members of our community!
Save the dates so you do not miss out on any of these insightful conversion!
Do you want to join the Herconomy team?
Herconomy is hiring for the following positions.
Frontend developer
Python developer
iOS developer
Software Tester
Android developer
Please email hr@herconomy.com today to apply if you meet the requirement.
Share Your Reviews With Us!
Have you been saving with Herconomy?
We now have over 3,000 active users on our web app and we would like to know how your experience with us has been.
Thank you for trusting Herconomy to help you achieve your savings goals.
Looking forward to your reviews!
Tech Updates
Amazon opens new offices in Joburg – and it is hiring for these jobs
Amazon Web Services (AWS) has opened a new office in Johannesburg to support growing customer demand and continue its investment in South Africa. Read more…
US orders Nvidia and AMD to stop selling AI chips to China
Two of America's top chipmakers have been ordered to stop selling some of their technology to China that can be used for artificial intelligence. Read more…
Business Matters
ICT gains N4.1 trillion in 8 months to remain the largest sector in Nigeria’s stock market
The Information Communication and Technology (ICT) sector ranked as the most capitalized sector on the Nigerian Exchange (NGX) as of the month of August, with N11.74 trillion aggregate market capitalization. This is according to data gleaned by Nairalytics – the research arm of Nairametrics, from the website of the NGX. Read more…
Amid the forex crisis, Nigeria’s external reserves falls to $39 billion in August 2022
Nigeria’s external reserves fell by 3.6% in August 2022, to $39.024 billion, down from $40.520 billion on December 31, 2021. Read more…
Investors earn N68.63 billion in three top Nigerian banks in August despite selling pressure
Despite sell pressure witnessed on the shares of some quoted companies listed on the floor of the Nigerian Exchange in the month of August, three top Nigerian Banks, Zenith Bank Plc, Ecobank and FBNH Plc gained about N68.627 billion in market capitalisation. Read more…
Fuel subsidy: NNPC ready for a forensic audit, insists daily supply is 68 million litres
NNPC Ltd has reacted to allegations of Nigeria spending way too much on litres of subsidized fuel, stating that it will offer itself for a forensic audit of fuel supply and subsidy management, insisting that daily fuel supply is 68 million litres. Read more…
FG pays foreign firm $496m for contract violation
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami have disclosed that the Federal Government has settled a long-standing $5.26bn contractual dispute with a foreign investor group in the steel sector for $496m. Read more…
Discos suffer N543bn revenue loss in 12 months
The latest report by the Nigerian Electricity Regulatory Commission shows that total billing to electricity consumers by the 11 distribution companies stands at N816bn. Read more…
Commercial banks borrow N4.4tr from CBN in 3 months
Deposit money banks (DMBs) accessed an accumulated value of N4.4 trillion from the Central Bank of Nigeria (CBN) through its overnight lending window from June to August, data sourced from the regulator suggested. Read more…
NGX to reposition the capital market for global competitiveness
The Nigerian Exchange Limited (NGX) has restated its commitment to repositioning the Nigerian capital market as a global investment destination. Read more…
Investors lose N283b in August amid uncertainty, low purchasing power
Despite improved earnings and dividend announcements from listed companies, uncertainty in the global economy, coupled with prevailing macroeconomic challenges in the country, especially insecurity and low purchasing power, the 2023 election fear has continued to take a toll on the equities sector of the Nigerian Exchange Limited (NGX) as investors lost N283 billion or 1.07 per cent of the market value in the month of August. Read more…
Quote of the Day
Set your goals high, and don't stop 'til you get there."
—Bo Jackson