Herconomy Daily Juice

While world leaders deliberate the climate, Lagosians wonder who will be held responsible for the Ikoyi Building collapse.

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Local Stories

10 die as 21-storey building collapses in Lagos, designer warned of tragedy

No fewer than 10 persons were feared dead on Monday when a 21-storey building collapsed on Gerard Road in the Ikoyi area of Lagos State. Read more…

FRC probes banks over violation of lending conditions to states

Fiscal Responsibility Commission has vowed to engage the services of the Independent Corrupt Practices and Other Related Offences Commission and the Economic and Financial Crimes Commission to deal with banks that give loans to governments and agencies without following due process. Read more…

Keyamo blames bank process for N7.3bn disbursement delay

The Minister of State for Labour and Employment, Festus Keyamo, on Monday explained why the Federal Government had not disbursed the outstanding N7.3bn to beneficiaries of 774,000 Special Public Works Programme. Read more…

Soldier generates fake alert, absconds with Lagos PoS operator’s N100,000

A Point-of-Sale operator, Samuel Ayodele, has accused a soldier, identified only as Williams, of defrauding him of N100,000 in the Ketu area of Lagos State. Read more…

Lagos to divert traffic at Mushin for Red Line rail project for 6 weeks

The Lagos State Government has announced traffic diversion at Kayode Ogunmokun road in Mushin for a period of 6 weeks in continuation of the first phase of the Lagos Red Line Rail Mass Transit project from Oyingbo to Agbado. Read more…

Lagos building collapse: Owner was given approval to only construct 15 floors – LASBCA

Lagos State Building Control Agency (LASBCA) has revealed that the collapsed 21-floors building under construction, skipped building standards as the owner was given approval to construct only 15 floors. Read more…

International Stories

COP26: World leaders promise to end deforestation by 2030

More than 100 world leaders have promised to end and reverse deforestation by 2030, in the COP26 climate summit's first major deal. Read more…

Fishing row: France delays sanctions as talks over access continue

France will delay retaliatory measures against the UK while talks over post-Brexit fishing rights continue, Emmanuel Macron has said. Read more…

COP26: India PM Narendra Modi pledges net zero by 2070

India has promised to cut its emissions to net zero by 2070 - missing a key goal of the COP26 summit for countries to commit to reach that target by 2050. Read more…

Tech Updates

Nigeria’s E-Settlement acquires Côte d’Ivoire’s QuickCash to increase financial inclusion across Africa

E-Settlement (E-SL), a Nigerian fintech group of companies, has acquired QuickCash, an Ivorian electronic payment and money transfer company, to expand and boost last-mile access to financial services in Francophone African countries like Côte d’Ivoire, Burkina Faso, Niger, Togo and more. Read more…

Business Matters

AfDB blacklists 40 Nigerian firms, individuals in four years

The African Development Bank has blacklisted at least 40 Nigerian firms and individuals for engaging in corrupt practices, fraud and collusive practices between 2017 and 2021, according to data obtained from the bank’s website. Read more

International airfares rise as naira crashes on IATA platform

The lingering shortage of foreign exchange in Nigeria has forced the naira to crash against the United States dollar on the air ticket pricing template of the International Air Transport Association, read more…

Stock market loses N32.26bn as investors take profits

The equities market of Nigerian Exchange Limited slid by N32.26bn at the end of trading on Monday as investors cashed in on recent price appreciation. Read more…

Privatisation: Consumers demand review as power generation drops to 3,844MW

Power generation in Nigeria dropped from a peak of 4,224.9MW on Sunday to 3,844.3MW by 6am on Monday, data obtained from the Federal Ministry of Power show. Read more…

After rallying over 230,000%, Squid Game memecoin is now worth zero

A Squid Game token going by the ticker, ‘SQUID’, which was inspired by the popular Netflix hit series, surged more than 230,000% in the past week to trade as high as $2,861.80, read more…

Climate Change: Africa’s ambition to restore 100 million hectares of degraded landscape for agriculture achievable – Buhari

President Muhammadu Buhari stated that Africa’s ambition to restore over 100 million hectares of degraded landscape for productive agriculture is achievable. Read more…

Metro

'Omo Ghetto: The Saga' wins new award in Dubai

The comedy has been awarded Africa's highest grossing title for 2020/21. Read more…

Quote of the Day

“One should try to optimize for impact. There is a way to do well and do good.”

Neil Blumenthal