Hercnomy Daily Juice

What does it feel like to have 15 billion streams? Probably not as good as Elon feels selling $5Billion worth of Tesla stock.

Herconomy Community News

Herconomy Enterprise Challenge 2021 is Here!

Our Annual Enterprise Challenge is back!

Winner: N1.5 million Grant, Mentorship, Work Space

1st Runner Up: N1 million Grant, Mentorship & Workspace

2nd Runner Up: N500,000, Workspace

Click the link to apply!

(You can also apply from our link tree in bio)

Steps to participate:

1. Repost flier on your page and tag your friends to also apply.

1. Follow @herconomy.

2. Fill out the application form here.

3. Use the Hashtags #herconomy2021

The deadline for application is the 30th of November 2021

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Local Stories

Nigeria’s debt stock hits N42.7tn, Senate okays fresh $16bn loans

Nigeria’s debt stock of N35.5tn will rise to N42.7tn following the Senate’s approval of the Federal Government’s request for $16bn and €1.02bn fresh loans. Read more…

AGF says political solution on Nnamdi Kanu, Sunday Igboho not ruled out

The Federal Government may consider all kinds of solutions, including political ones, in order to resolve the crisis surrounding separatist agitations in Nigeria. Read more…

EFCC insists Eagle Eye app is safe, effective, contrary to alleged data theft

The Economic and Financial Crimes Commission (EFCC) has reacted to the allegation that its app, Eagle Eye, has been compromised, saying the whistleblower tool has been the springboard of several investigations. Read more…

Senate considers bill on tough punishments for corrupt officials, terrorism

The Senate on Wednesday passed for second reading two bills seeking to facilitate swift prosecution of public officers involved in money laundering and terrorism financing in Nigeria. Read more…

Reps probe BPE, AMCON over NACFA privatisation

The House of Representatives’ Committee on Privatisation and Commercialisation has directed the Bureau of Public Enterprise to pay up an outstanding N189m to Jorotom International Agency Limited, read more…

Indigenous operators mull drone surveillance as oil theft surges

Indigenous exploration and production companies in the country are considering using drone technology to identify crude oil theft points as they struggle with rising cases. Read more…

International Stories

FW de Klerk: South Africa's former president dies at 85

FW de Klerk, the former president of South Africa and the last white person to lead the country, has died at the age of 85. Read more…

China's Xi Jinping cements his status with historic resolution

The Chinese Communist Party has passed a "historical resolution", cementing Xi Jinping's status in political history. Read more…

Tech Updates

Coinbase partners with Team Liquid to create crypto-focused content

Team Liquid, the e-sports and gaming organization operating across major titles including League of Legends and Fortnite, has signed a four-year partnership agreement with Coinbase, for an undisclosed amount. Read more…

Business Issues

Elon Musk: Tesla boss sells $5bn of shares after Twitter poll

Tesla chief executive Elon Musk has sold around $5bn (£3.7bn) of shares in the electric carmaker. Read more…

Speculators lose billions as naira appreciates, exchanges for 540/$

The naira has appreciated further in the parallel market as the dollar was sold for N540 on Wednesday, with traders saying speculators hoarding dollars would be losing a lot of money. Read more…

FEC approves 2021-2025 National Development Plan, projects N348.7tn investments

The Federal Executive Council presided over by Vice President Yemi Osinbajo on Wednesday approved the 2021-2025 National Development Plan, which is a successor programme to the Economic Recovery and Growth Plan. Read more…

World Bank demands debt transparency, says Nigeria, others need $429bn

The World Bank has demanded debt transparency as a crucial step in countries’ development process, while it estimates that external financing needs in Nigeria and other low income developing countries will reach $429bn between 2023 and 2025. Read more…

Czech billionaire, Daniel Kretinsky buys 27% stake in West Ham

Premier League side, West Ham United has announced via club statement that Czech billionaire, Daniel Kretinsky has completed the acquisition of a 27% stake in West Ham Holding Limited. Read more…

Twitter to launch dedicated crypto team

Twitter is expanding further into the world of cryptocurrencies as the social media giant is setting up a team dedicated to looking into decentralized applications, cryptocurrencies and blockchain. Read more…

Naira gains at official and parallel markets as liquidity surges significantly by 232%

The exchange rate between the naira and the US dollar closed at N414.73/$1, at the Investors and Exporters window, where forex is traded officially. Read more…

Alleged 1.6bn fraud: Court arraigns former Star Orient MD

Dare Osamo, Former Managing Director of Star Orient Nigeria Ltd, an aviation fueling company, was arraigned at an Ikeja High Court on Wednesday on an 11 count-charge bordering on fraud to the tune of N1.6 billion. Read more…

MTN’s 575 million shares offering: Is the telecoms giant divesting from Nigeria?

MTN is a telecoms operator offering voice, data, and other enterprise mobility offerings. Read more…

Cardano posts biggest daily drop since September 7 amid profit-taking

As the broader market suffered from profit-taking in the past few hours, altcoins like Cardano posted significant losses. Read more…

Metro

17-year-old girl’s body recovered from Kwara well four days after declared missing

The Kwara State Fire Service on Wednesday said it had recovered the body of a 17-year-old-girl identified as Aminat from a well. Read more…

Stray cows attack couple in Delta community

Tension has gripped residents of Ovwian community in the Udu Local Government Area of Delta State after a couple, identified as Mr and Mrs Iro Ese, were attacked and injured by cows belonging to a herdsman in the community. Read more…

Actor Ayoola Ayolola finally reacts to exiting 'The Men's Club' series

The actor says he duly notified the production heads of his relocation plans. Read more…

After certifications in France and the UK, CKay's 'Love Nwantiti' hits 15 billion streams on TikTok

In France, a platinum certification is awarded for moving an equivalent of 100,000 copies while Gold in the UK is awarded for moving an equivalent of 200,000 streams. Read more…

Quote of the Day

#1 make good decisions, #2 everything else.

Rand Fishkin