Kerosene hits over N800/litre
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Oui Capital’s plans for its new $30 million fund
The Oui Capital Mentors Fund II, the second fund from Oui Capital, launched today. The Africa-focused VC firm wants to increase its footprint in the African tech ecosystem. Olu Oyinsan, Oui Capital’s managing partner, spoke to TechCabal about their plans for the second fund. Read more…
Kerosene hits over N800/litre
The price of kerosene used by several families has jumped to N800 per litre just as the market is beginning to adjust to the newly increased petrol and gas prices. Read more…
Bank borrowing from CBN rises 27% to N4.5tn
Amid a rising liquidity crunch, banks operating in Nigeria borrowed a whopping sum of N4.5tn from the Central Bank of Nigeria in July, an increase of 27 per cent Month-on-Month from N3.6tn borrowed in June 2022. Read more…
Manufacturers slash investment by 56% amid shutdowns
Nigerian manufacturers have slashed their investments by 56 per cent in seven years, reflecting a sector buffeted on all sides by a cacophony of poor policies and economic headwinds. Read more…
FG pays N405bn interest on CBN loans
The Federal Government paid an interest of N405.93bn from January 2022 to April 2022 on the loans it got from the Central Bank of Nigeria through the Ways and Means Advances. Read more…
Cybercrime rises as phishing hits 174% in Nigeria, 438% in Kenya
Menace of cybercrime in Africa sustained a huge rising profile in the first six months of the year with phishing and scams hitting 438 per cent and 174 per cent in Kenya and Nigeria respectively. Read more…
NAHCO posts N10.2b revenue, yields N665m as dividend
Ground handling firm, Nigerian Aviation Handling Company (NAHCO) Plc, has recorded a significant recovery from the COVID-19 pandemic, posting a turnover of N10.2 billion and a dividend of N665 million. Read more…
Naira appreciates N669/$1 in the peer-to-peer market
The exchange rate between the naira and the US dollar appreciated to N669/$1 on Tuesday, morning from N692.25/$1 recorded on Monday, 1st August 2022. This is according to information gathered from cryptocurrency peer-to-peer exchange (P2P) markets. Read more…
FG disburses over N66 billion to 1.258 million Nigerians under MSMEs Survival Fund
The Federal Government says that it has disbursed over N66 billion to 1.258 million Nigerians under its Micro Small and Medium Enterprises (MSMEs) Survival Fund and Guarantee Off-Take Scheme. Read more…
Quote of the Day
“Being honest may not get you a lot of friends but it’ll always get you the right ones.”