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Commercial banks owe Telcos N17bn for USSD, NCC boss Umar Danbatta reveals
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta has said that commercial banks in the country are owing telecommunications companies over N17 billion following the regulator’s suspension of its Determination on Unstructu...
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Access Bank slashes staff salaries to avert job losses as COVID-19 slows economy
Access Bank Plc plans to cut salaries to avoid job losses as a lockdown to contain the coronavirus hampers the operations of Nigeria’s biggest lender, according to people with direct knowledge of the matter. The reductions are expected to start from May unless business condi...
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Power cuts in South Africa to last indefinitely – Eskom
Nationwide power cuts across South Africa of up to 4,000 megawatts will last indefinitely, state power firm Eskom said on Thursday, as repairs take longer than anticipated. Eskom had said on Wednesday the outages would last only until Friday. The latest blackouts, referred t...
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#EndSARS: The Barbarians Are Back Again! – By Kunle Wizeman Ajayi
Yesterday, there was a shocking report of youth along Lagos-Abeokuta Expressway on rampage, setting fire all around the highways over yet another of the several killings that have happened since the elections: officers of the Federal Special Anti-Robbery Squad (FSARS) shot d...
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Online betting firms continue to flourish in Nigeria
Online sports betting is booming in soccer-mad Nigeria largely thanks to payment systems developed by homegrown technology firms that are starting to make online businesses more viable. For years, mobile payments failed to take off in Nigeria as they have in countries such a...
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Chude Jideonwo, Adebola Williams unveil cover for new book, ‘How to Win Elections in Africa...
RED co-founders, Chude Jideonwo and Adebola Williams yesterday unveiled the cover for their forthcoming book – ‘How to Win Elections in Africa: Parallels with Donald Trump’. Scheduled for release in November, the book chronicles the ideas and ideals imperative for Africans a...
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South African authorities have apprehended eight people suspected of illegally siphoning 2.3 billion rand ($133.87 million) from small lender VBS Mutual Bank, which collapsed in 2018 because of the corruption scandal. Godfrey Lebeya, head of South Africa’s Directorate ...
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Access Bank Plc plans to cut salaries to avoid job losses as a lockdown to contain the coronavirus hampers the operations of Nigeria’s biggest lender, according to people with direct knowledge of the matter. The reductions are expected to start from May unless business condi...
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Kenya’s economy grew by 5.4% in 2019, down from 6.3% the previous year, partly because of a slowdown in the agricultural, manufacturing and construction sectors, finance minister Ukur Yatani said on Tuesday. Agriculture grew by 3.6% in 2019, compared with 6% in 2018, hit by ...
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The Nigerian Ports Authority has directed all Terminal operators to extend the suspension of all applicable terminal storage fees on consignments (demurrage) for another fourteen days effective April 13, 2020. This follows the extension of the Lockdown in response to the COV...
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The International Monetary Fund has granted debt relief to 25 countries, mostly African nations excluding Nigeria. A statement by the Managing Director of the IMF, Kristalina Georgieva, said it would provide $500m in grant-based debt service relief to these countries. She sa...
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Nigeria has requested $6.9 billion from multilateral lenders to combat the impact of the coronavirus pandemic on Africa’s biggest economy, the finance minister said on Monday. Nigeria, whose revenues have tumbled with the fall in oil prices, has asked for $3.4 billion from t...
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Commercial banks owe Telcos N17bn for USSD, NCC boss Umar Danbatta reveals
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta has said that commercial ba...
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Africa’s COVID-19 cases pass one-million mark
The number of coronavirus cases in Africa has surpassed one-million, according to a tally by Johns Hopkins University, but the con...
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Ivorian president Alassane Ouattara to run for third term
Ivory Coast’s President Alassane Ouattara has said he will run for a third term in October’s general elections. The pr...
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Mozambique ‘denies knowledge of ship with Beirut explosives’
Mozambican port authorities have denied any knowledge of the ship that was carrying the explosives that caused the Beirut explosio...
