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Airtel speaks on its readiness for 5G technology in Nigeria

Airtel Africa Plc said it is almost fully ready for the implementation of the 5G network. Chief Executive Officer, Raghunath Mandava, disclosed this during the telecoms company’s recently-held Q1 2020 earnings call. The transcript of the earnings call was seen by Nairametrics. Mandava responding to a specific question about Airtel’s perspective regarding the 5G network […]

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FAAN denies allegation of stolen N750 million, admits breach of procurement process

The Federal Airport Authority of Nigeria (FAAN), has denied allegations of stolen N750 million from its coffers, as alleged by an online medium. The aviation agency, while describing the allegations as entirely false, said that no funds to the tune of N750 million were approved or even went missing due to fraudulent contracts, as alleged. […]

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COVID-19: J&J starts vaccine trials on humans after success on monkeys

American Pharmaceutical giant, Johnson & Johnson (J&J), announced yesterday that it was starting safe human trials with its COVID-19 vaccine after its study on monkeys showed that its best-performing vaccine candidate offered strong protection in a single dose. A published study in the journal, Nature, stated that during the conduct of the trials, when exposed […]

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Malabu Scandal: Shell writes down OPL 245 License

Multinational Petroleum oil and gas giant, Royal Dutch Shell, announced that it would write down its investment in the controversial Malabu OPL 245 offshore field in Nigeria. The OPL license has been at the heart of a protracted litigation in Italy after prosecutors alleged corruption. According to Reuters, Shell announced the write-down during its second-quarter 2020 earnings […]

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FG ratifies air transport agreements with the United States

The Federal Executive Council (FEC), during a meeting presided over by President Muhammadu Buhari on Wednesday, July 29, 2020, approved the ratification of Air Transport Agreement between Nigeria and the United States. The decision of the Federal Executive Council was disclosed during a press briefing with statehouse correspondents, after the virtual meeting, by the Minister […]

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Nigeria’s manufacturing sector contracts in July, as COVID-19 woes worsens

Nigeria’s economy continues to grapple with the ripple effects of the COVID-19 pandemic, as the manufacturing sector shrunk further in the month of July 2020. This is contained in the latest Purchasing Manager’s Index (PMI) report released by the Central Bank of Nigeria. According to the latest data released by the apex bank, Manufacturing PMI in the […]

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Sterling Bank takes banking to WhatsApp. How to get started

Sterling Bank Plc, one of Nigeria’s leading commercial banks, today announced a personalised banking experience for existing customers and prospective account holders through the popular messaging app – WhatsApp. Customers can now initiate bank transfers, and airtime and bill payments, check balance and BVN enquiries, as well as statement generation directly on WhatsApp with the […]

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Nigeria’s crude oil earnings under threat as India oil imports hit 10 year low

Nigeria’s crude oil earnings faces a major threat after India, the world’s third-largest importer of crude, recorded its lowest oil imports in 10 years in the month of June. Reports from Reuters indicate India oil imports dropped in the month of June as its refineries reduced demand due to maintenance and turnarounds. India reportedly imported […]

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Working from home: Nigerian bankers share their experiences

Nigeria declared a nationwide lockdown in April this year, with the aim of curtailing the spread of the Coronavirus pandemic. This was a total lockdown, where activities in all sectors of the economy, including banks and other financial institutions, ground to a halt.   Four weeks later, President Muhammadu Buhari announced a phased and gradual easing of the lockdown. As part […]

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Oil prices drop as market reacts to rising COVID-19 cases, US-China tension

Global oil prices slightly dropped early Monday morning, no thanks to the second wave of COVID-19 which Nairametrics understands is influencing investors to focus on safe-haven assets. Another major contributing factor to the price drop is the raging trade tension between China and the USA. The details America’s West Texas Intermediate (WTI) crude was down […]

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CAC: Certificate of incorporation will now be delivered via email or courier

The Corporate Affairs Commission (CAC) has announced that it will deliver electronic services to its customers effective August 10, 2020.   The Registrar-General of the Commission, Alhaji Abubakar Garba, said this during a news conference in Abuja, on Sunday.  NAN reports that this new policy is targeted at creating sanity in the process, and adhering to the safety guidelines set […]

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Covid-19: Timeline of every pronouncement made by Nigeria to support the economy

The number of people living with the Coronavirus Disease (COVID-19) and deaths from it have been on the increase daily. The Federal Government and its relevant agencies, especially the Central Bank of Nigeria, have responded with policies to cushion the economy, restore investors’ confidence, and support Small and Medium Enterprises (SMEs) and households. A look […]

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How to access new N75 billion Nigerian Youth Investment Fund

When the Federal Government approved the establishment of the N75 billion Nigerian Youth Investment Fund (NYIF), hundreds of thousands young Nigerians were excited about the innovation. They believe it could reduce the increasing unemployment rate, which has been worsened by the COVID-19 pandemic, in the country. However, most of them are ignorant of how to […]