Daily Juice
Kenya’s ARA Drops Case Against Nigerian Fintechs
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Tech Updates
MultiChoice Subsidiary Launches Tech to Crack Down on DStv Password Sharing
Irdeto, a wholly-owned MultiChoice subsidiary has announced that it extended the capabilities of its digital rights management system to tackle piracy and password sharing. Irdeto is a security company that develops software and services for the gaming and video entertainment industries. It has been a MultiChoice subsidiary since 1997. Read more…
Kenya’s ARA Drops Case Against Nigerian Fintechs
The Asset Recovery Agency in Kenya has dropped money laundering charges against three Nigerian Tech companies after declaring that the response given regarding the source of the funds was satisfactory. Read more…
Twitter shareholders vote to approve Elon Musk’s bid to buy the company
Twitter shareholders voted Tuesday to approve Elon Musk’s $44 billion bid to buy the company and take it private. Read more…
Business Matters
Angola, Libya overtake Nigeria in crude production – OPEC
Nigeria’s oil production plunged to 972,000 barrels per day in August 2022, as Angola and Libya overtook Nigeria by producing higher volumes of crude during the review month, the Organisation of Petroleum Exporting Countries has said. Read more…
Take the opportunity of AfCTA’s N3.4tn, FG tells banks
The Federal Government says the African Continental Free Trade Area has opened up opportunities for the Nigerian financial industry. Read more…
Nigeria’s cashew earnings hit N192bn, producers target $4bn
Nigeria’s annual earnings from the production and sale of cashew increased to about $450m or N192.64bn (as of Monday’s official exchange rate), the African Cashew Alliance and the Federal Government stated on Monday. Read more…
Nigeria’s internet service providers increase to 225 as NCC issues fresh licences
The number of companies providing internet services in Nigeria has increased to 225 as of September 2022 from 187 recorded in December 2021. According to the updated list of licensees just published by the Nigerian Communications Commission (NCC), 38 more companies have been licensed since the beginning to bridge the internet access gaps in the country. Read more…
Senate rejects N12.43 trillion deficit, N6 trillion tax, import duties waivers in 2023 budget
The Senate has disagreed with the Minister of Finance, Budget and National Planning, Zainab Ahmed, and heads of some revenue generating agencies under the ministry on the 2023 – 2025 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) which proposed a N12.43 trillion deficit and N6 trillion tax and import duty waivers in the N19.76 trillion budget. Read more…
Nigeria to benefit from the US $12 billion energy initiative
The United States Special Envoy on Climate Change, John Kerry signed the Climate Energy Demand Initiative (CEDI) with Nigeria’s Minister of Environment, Mohammed Abdullahi. Read more…
FG says it has recovered N2.6 trillion in revenue from oil companies
The Nigerian Government has revealed it has recovered the sum of N2.6 trillion revenue from oil firms through the Nigeria Extractive Industries Transparency Initiative (NEITI) intervention. Read more…
97k crypto investors burnt as high US inflation data wipes out $89 billion market value
Following the August U.S inflation report which revealed that prices grew faster than expected, Bitcoin and crypto assets greatly fell in value on Tuesday, on high indication that the Federal Reserve will likely raise interest rates by another 0.75% the following week. Read more…
OPEC says Nigeria’s oil production averaged 972,000 BPD in August 2022
In its monthly oil market report released on Tuesday, the Organization of Petroleum Exporting Countries (OPEC), says Nigeria’s crude oil production for August declined to 972 thousand barrels per day (t/bpd). Read more…
Finance Minister, Zainab Ahmed, says the 2023 budget has a N12.43 trillion deficit
Zainab Ahmed, the Minister of Finance, Budget and Planning has said that the proposed 2023 budget of N19.76 trillion is embedded with a N12.43 trillion deficit. Read more…
Quote of the Day
"Happiness lies in the joy of achievement and the thrill of creative effort."
—Franklin D. Roosevelt