Folorunsho Alakija: From a middle-class home to becoming Nigeria’s richest woman – Nairametrics


Hardly would you find a list of Nigeria’s richest entrepreneurs without the name – Folorunsho Alakija popping up. Several rankings have acclaimed her to be the richest woman in Nigeria, and the 2020 list of Africa’s Billionaires places her at 20th position in Africa. Though most public knowledge attributes her wealth to her interests in … Read more

Italian government makes covid passports mandatory for all workers – Nairametrics


The Italian government has now mandated the use of covid passports in the country for all employees. This makes Italy the first European country to make a covid certificate mandatory for all workers, as countries start to take stronger measures in an effort to boost inoculation rates. The government has announced that from mid-October, all … Read more

abokiFX vs CBN: abokiFX says it will temporarily suspend rates, hopes suspension leads to Naira appreciation – Nairametrics


Online foreign exchange rate website, abokiFX, which is currently under investigation by the Central Bank of Nigeria (CBN), says it will temporarily suspend rates on all its platforms, to find clarity on the situation. This was disclosed in a social media statement by AbokiFX on Friday evening, adding that it “sincerely hopes the suspension will … Read more

Bitt Inc, the company developing eNaira is not my company – CBN Governor – Nairametrics


The Governor of the Central Bank of Nigeria has stated that Bitt Inc, the company developing the country’s digital currency, eNaira, is not his company. This was disclosed in the Monetary Policy Council meeting today by the CBN Governor, Godwin Emefiele. The CBN governor reassured  Nigerian about the launch date of the eNaira saying, “ The … Read more

We will find you, force you to return dollars bought on false demand, CBN warns – Nairametrics


The Central Bank of Nigeria (CBN) has stated that it will hunt Nigerians who buy forex for Personal Travel purposes and later cancel such trip. The plan of the apex bank, with the support of banks, is to find the buyers and force them to return currencies bought under such disguise. This was disclosed by … Read more

MTN Nigeria to issue bond worth N89.999 billion – Nairametrics


MTN Nigeria Communications Plc is preparing to launch Series 2 Bonds of up to ₦89.999 billion. This is according to a mail sent from Chapel Hill Denham Advisory Limited to investors and seen by Niarametrics. The mail reads: “Chapel Hill Denham Advisory Limited is pleased to inform you of the upcoming launch of MTN Nigeria … Read more

Why AbokiFX is being investigated for “Economic Sabotage” – Nairametrics


…Company is said to be owned by one man with multiple bank accounts… Information reaching Nairametrics confirms owner of online foreign exchange rate website, AbokiFX is being investigated for possible sabotage against the Nigerian state. The apex bank is accusing the owner of the website, one Mr. Olusegun Adedotun Oniwinde of running a scheme tantamount … Read more

NIGCOMSAT to acquire 2 more satellites by 2025 – Nairametrics


The Nigerian Communication Satellite Ltd (NigComSat) revealed that it plans to acquire 2 more satellites by 2025, in a bid to increase its operational capacity and global profile. This was disclosed on Thursday by its Director and Chief Executive Officer (CEO) NIGCOMSAT, Mr Abimbola Alale, at its stakeholder forum, held at the Providence Hotel, Ikeja, … Read more

Access Bank’s oversubscribed $500 million bond may help strengthen exchange rate – Nairametrics


Access Bank Plc has successfully launched a $500 million Unsecured Eurobond, as part of its Global Medium-Term Note Programme. The deal drew huge interest from top-grade investors globally, including the United States, Europe, the Middle East, Asia, and Africa, according to a notification signed by the company’s secretary, Sunday Ekwochi, and made public on Nigerian … Read more

Constitutional amendment: We cannot sacrifice quality on the altar of speed – Hon. Kalu – Nairametrics


The House of Representatives has insisted on its commitment and determination to follow through with its plans to amend the 1999 Constitution to meet the yearnings of all Nigerians before the end of the ninth assembly. The lower legislative chamber who said that this current assembly commenced the process in 2020 urged Nigerians to be … Read more

Nnamdi Kanu’s family sue Kenyan Government over extradition to Nigeria – Nairametrics


The Family of Nnamdi Kanu is suing the Kenyan Government over its alleged role in the extradition of the leader of the Indigenous People of Biafra to Nigeria, earlier this year. This was disclosed by Nnamdi Kanu’s brother, Kingsley, in a lawsuit filed on Wednesday, according to Bloomberg. The report names Kenyan Attorney General Paul … Read more

EFCC Chairman, Abdulrasheed Bawa reportedly slumps during FCT event – Nairametrics


The Chairman of Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has reportedly slumped at an event held at the Presidential Villa in Abuja. The news of his slump was reported by various media sources on Thursday afternoon, citing that the EFCC boss was attending the National Identity Day celebration, when the episode happened. Vanguard … Read more

DPR targets revenue of N3.2 trillion by December 2021 – Nairametrics


The Department of Petroleum Resources says it is targeting a revenue of N3.2 trillion by December 2021. This was disclosed by the Director/Chief Executive Officer of Department of Petroleum Resources (DPR), Mr Sarki Auwalu, in a meeting with the Executive Secretary of Petroleum Technology Development Fund (PTDF), Mr Bello Gusau, in Abuja on Wednesday, according … Read more