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Covid-19: FG to set up N500 billion intervention fund to upgrade healthcare sector

The Federal Government (FG) has concluded plans to establish a N500 billion COVID-19 crisis intervention fund. The fund was introduced to upgrade healthcare facilities and…

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OPEC, Russia’s emergency meeting postponed to 9th April 2020

The Organisation of the Petroleum  Exporting Countries and Russia have postponed a meeting set for Monday to discuss oil production cuts to April 9, 2020….

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Nigeria considers request for debt relief as debt stock climbs

There were news reports that the Ministers of Finance from African countries have requested for debt relief from bilateral, multilateral and commercial partners to cushion the negative…

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Nigerian cinemas count loses in Q1 2020, amid COVID-19 lockdown

The Nigerian cinema industry has  recently been experiencing a serious decline in revenue, no thanks to the Coronavirus pandemic which has wrought health and economic havoc across…

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Jumia CEOs to take salary cut, create support fund for workers

The two Chief Executive Officers of Jumia Group, Jeremy Hodara and Sacha Poignonnec will be taking a salary cut to support their workers amidst the Coronavirus pandemic. The pay cut is part of…

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Age of Start-ups: Familiar path of companies that failed test of time in Nigerian market

Africa, specifically Nigeria has become a center of attraction for both investors and new businesses, irrespective of the failures by several Startups in the country…

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Minister clarifies, as mixed reactions trail MTN’s 5G network license claims

Nigeria’s Minister of Communications and Digital Economy, Isa Pantami, has denied claims that a 5G network license had been given to MTN Nigeria Communications Plc. According to…

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Access Bank launches AccessMore mobile app for seamless transactions

As part of its effort to ensure its customers have easy access to their funds and can carry out seamless transactions during this COVID times,…

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Dangote, Otedola, Elumelu, Ovia, others donate N19.48 billion to COVID-19 relief fund

The Central Bank of Nigeria has received the total sum of N19.48 billion as relief fund contributed to the account set up under the Private…

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Beware of sites offering free internet plans, NCC warns Nigerians

As telecoms consumers demand for free or slashed data prices from operators like MTN, Glo, Airtel, and 9mobile, some websites are attracting unsuspecting Nigerians with…

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Naira under pressure as Nigeria records poor export earnings

The naira is expected to be under intense pressure from the dollar starting next week, no thanks to Nigeria’s poor export earnings due the COVID-19 pandemic….

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COVID-19: SEC issues guidelines for AGMs, other measures

Following its earlier circular on adjusted mode of operation, the Securities and Exchange Commission (SEC) has issued additional guidance to operators, quoted companies and stakeholders in the…

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Polaris Bank to wave penalties on loan defaults due to Covid-19

Nigeria’s Polaris Bank Limited, yesterday, announced that it has decided to wave aside all the charges associated with loan defaults, albeit for the meantime. In a brief statement that was issued on Twitter, the bridge bank explained that the…

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LASEPA backtracks, unseals Jumia Warehouse few days after shutting it down

The Lagos State Environmental Protection Agency (LASEPA), on Thursday, reopened Jumia Warehouse situated at Surulere industrial road, off Allen Avenue, in Ikeja Lagos. LASEPA disclosed…

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Airtel loses over 100,000 subscribers in one month, as Glo chases MTN’s market share

Despite massive media campaigns over the last few months, Airtel lost more than 100,000 subscribers in Nigeria between December 2019 and January 2020. But while Airtel Nigeria’s subscriber…

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Rocket Internet sells stake in Jumia, as eCommerce firm struggles with post-IPO scandal

German-based technology company, Rocket Internet, has sold off its stakes  in Jumia, as the African eCommerce firm’s shares continue to decline on the New York Stock Exchange….

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SoundCloud creates ‘donation button’ for fans to support artistes affected by Coronavirus

SoundCloud has created a donation button for artistes to get support, as the Coronavirus outbreak forced some of them to cancel their concerts. The music streaming…

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External reserves decline by over 8%, despite lower FX demand

Nigeria’s external reserves have continued to decline unabated as it shed $3.33 billion in first quarter of 2020. The external reserves dropped from $38.59 billion on December…

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CBN temporarily suspends settlement of failed Visa and Verve card transactions

The Central Bank of Nigeria (CBN) has directed Interswitch to suspend refund activities for failed Visa and Verve card transactions, pending the duration of the lockdown that was recently…

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Berger Paints supports Lagos to combat coronavirus

Berger Paints has announced its support for the Lagos State Government in the fight against coronavirus. In a statement issued by the company and seen by…

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