Daily Juice
The Tony Elumelu Foundation has pledged to support female farmers
Herconomy Updates
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Tech Updates
Nigerian advertising regulator sues Meta for US$69m in damages
The Advertising Regulatory Council of Nigeria (ARCON) announced Tuesday that it has filed a lawsuit against Meta Platforms Inc., the parent company of Facebook, WhatsApp and Instagram, and its agent AT3 Resources Limited seeking 30 billion naira (US$69 million) in punitive damages for violating the advertising law and loss of revenue to the government. Read more…
Google to open cloud region in Cape Town, South Africa
Google is planning a cloud region in Cape Town, South Africa. Alistair Mokoena, country director for Google South Africa, told ITWeb that opening an infrastructure region in South Africa forms part of the tech giant’s broader vision to digitize Africa. Read more…
Business Matters
Google invests over $200m in Nigeria, others
Google has spent well above $200m in Nigeria and across Africa in the last year. The Director of Google Cloud Africa, Niral Patel, disclosed this to journalists during a round table online conversation after Google for Africa event on Wednesday. Read more…
TEF to support female farmers
The Tony Elumelu Foundation has pledged to support female farmers especially those in rural areas in Nigeria. The Director, Partnerships and Communications, TEF, Somachi Chris-Asokula, said this at a private sector meeting in Lagos, on Wednesday, organised by the International Federation of Red Cross and Red Crescent Societies in collaboration with the Nigerian Red Cross Society. Read more
Geregu Power gains 10% on the first day of trading
Geregu Power, a leading power generation company (GenCo) in Nigeria, is the first GenCo to be listed on the NGX Main Board, a listing segment for well-established companies with demonstrable records of accomplishments. Read more…
TCN to boost Nigeria’s power supply by 817 MW through French funded project
Nigeria’s electricity supply is set to get a significant boost as the Transmission Company of Nigeria (TCN) disclosed plans to boost Nigeria’s power supply to the National Grid by 817 Megawatts (MWs). This would be done through Abuja Feeding Scheme and funded by the French Development Agency (AFD), according to the managing director of the TCN, Mr Sule Abdulaziz. Read more…
Bitcoin defies macro environment to surge above $20,000
Flagship cryptocurrency asset, Bitcoin, seems to be defying all known laws of gravity as it rallies back above the $20,000 trading zone, effectively turning resistance to support. Read more…
Firm registers N20bn commercial paper on FMDQ
Magnificent Multiservices Limited has registered the N20bn series 1 Commercial Paper programme on the FMDQ Securities Exchange platform with N5bn accessed already for its proposed city and estate developments through Radial Homes. Read more…
CBN grants Xpress Payments mobile money licence
A subsidiary of Xpress Holdings Limited, Xpress Payments, has been granted a mobile money operator licence by the Central Bank of Nigeria. Read more…
NLNG queries Senate’s directive to pay N18.4bn
The Nigeria Liquefied Natural Gas said it was evaluating a directive by the Senate for the company to pay the sum of N18.4 billion as compensation to some host communities. Read more…
OPEC eyes oil price hike, 2mbpd cut
The price of Brent, the global benchmark for crude, gained $1.62 by rising to $93.4/barrel at 6.23 pm Nigerian time on Wednesday, as oil producers agreed on a major production cut. Read more…
Quote of the Day
“Here I am . . . wanting to accomplish something and completely forgetting it must all end—that there is such a thing as death.”
—Leo Tolstoy