Social media giant, Facebook, has hit a $1 trillion valuation, following a dismissal of two antitrust lawsuits against the company. Facebook’s stock closed higher on Monday at $355.64 per share which contributed to the trillion-dollar valuation, Business Insider reported. The rise came after a United States court dismissed complaints by the Federal […]
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GCR upgrades MTN credit ratings
Global Credit Ratings has upgraded the national scale long-term issuer rating of MTN Nigeria Communications Plc. MTN Nigeria, in a statement on Tuesday by the Company Secretary, Uto Ukpanah, said, “In addition, GCR upgraded the national scale long-term rating of the recently concluded N110bn Series 1 Senior Unsecured Bond to […]
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Firm gets fintech services licence from SEC
Chaka Technologies Limited says it has received approval from the Securities and Exchange Commission to offer fintech services in the Nigerian capital market. The company’s platform, Chaka, provides technology services, marketing, customer service, and operations to brokers on behalf of their customers. According to a statement, the platform was granted […]
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Bitcoin will plunge to $25,000, says JPMorgan
JPMorgan Chase’s analysts have said that bitcoin price will decline to the $25,000 level before longer momentum will signal capitulation. They expect the cryptocurrency market to soon begin the process of healing, but expect further sell-offs before capitulation. Bitcoin price stood at $36,343.15 at 3:43 pm on Tuesday, according to […]
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Microfinance banks’ assets rise to N1.01tn
The total assets of the microfinance banks rose by N251.02bn from N758.98bn as of the end of July 2020 to N1.01tn as of the end of December 2020 as the firms moved to achieve their recapitalisation requirements. This was contained in a report by the Central Bank of Nigeria on […]
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Facebook to target Nigerian learners with educational app Sabee
Last fall, Facebook announced it was opening an office in Lagos, Nigeria, which would provide the company with a hub in the region and the first office on the continent staffed with a team of engineers. We’ve now spotted one of the first products to emerge from this office: an education-focused mobile […]
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Facebook Partners Cybersafe Foundation to provide online safety tips for parents.
Facebook, in collaboration with Cybersafe Foundation, a leading non-governmental organization in the information security ecosystem in Nigeria, recently hosted a parents roundtable event designed to gather insights on the kind of safety tips parents need; determine how they would like to receive these tips and equip them with digital skills […]
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Chaka Receives SEC’s first Fintech License
… reinforces commitment to regulatory compliance and transparency Lagos, Nigeria, June 2021 – Digital Investment Platform, Chaka, is pleased to announce its recent acquisition of the Digital Sub-Broker/Sub-Broker Serving Multiple Brokers through a Digital Platform License by the Securities Exchange Commission of Nigeria (SEC), in line with its measures to […]
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John McAfee, antivirus software founder allegedly commits suicide at 75
Founder of antivirus software, John McAfee, 75, allegedly took his own life by hanging himself in his prison cell in Barcelona on Wednesday, within hours of extradition ruling by the Spanish high court. He was to be extradited to the United States on tax evasion charges. The news of his […]
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NMRC partners World Bank on electronic mortgage registry
The Nigeria Mortgage Refinance Company says it has partnered with the World Bank to conduct a study on the development of the Electronic Mortgage Assets Registry System. The Chief Executive Officer of NMRC, Kehinde Ogundimu, disclosed this at the company’s annual general meeting in Lagos on Wednesday. He said the […]