FG restates commitment to hasten Nigeria’s digital economy

FG restates commitment to hasten Nigeria’s digital economy

FG restates commitment to hasten Nigeria’s digital economy The minister of communications and digital economy, Isa Pantami, has re-emphasized the resolve of the Federal Government, through the Ministry, to continually advance the digital economy agenda of the country. Pantami stated this while delivering a keynote address at the maiden edition of the National Dialogue on Telecoms and Information and Communications Technology (ICT) Sectors in Nigeria held at the NAF Conference Centre & Suites, Abuja on Thursday. The event was organised by the Association of Telecommunications Companies of Nigeria (ATCON) in collaboration…

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Nigeria’s inflation hits 30-month high at 13.71%

Nigeria’s inflation hits 30-month high at 13.71%

Soaring food prices to blame Rate beats analyst’s forecasts ______________________ Inflation rates for the month of September in Nigeria soared above analysts’ expectations, attaining its peak since March 2018 at 13.71 per cent year-on-year (YoY) after climbing 49 basis points up from 13.22 per cent in August. The rate recorded in the month is above analysts’ expectations at many quarters. Specifically, the latest rate inflation rate was caused chiefly by the soaring prices of food. According to latest report by the National Bureau of Statistics (NBS), food inflation stood at…

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Huawei MatePad 10.4: Life without Google services

Huawei MatePad 10.4

Huawei has a good mid-range tablet on offer: the MatePad 10.4. The 10.4-inch Android tablet did a good job during our review and we were particularly impressed by its good price-to-performance ratio and connectivity. The MatePad 10.4 lacks access to Google services, however. Find out whether we can still recommend this tablet in our review highlights. Huawei’s newest tablet addition is called MatePad 10.4 and is marketed as an all-rounder. The MatePad 10.4 is available for a good price and competes with some impressive devices such as the Lenovo Yoga…

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New Deal: Google becomes Nokia’s cloud infrastructure provider

New Deal: Google becomes Nokia’s cloud infrastructure provider

Networking equipment provider Nokia said it has signed a multiyear agreement to use Google as its cloud infrastructure provider. Nokia said it will migrate its global data centers and servers, as well as various software applications, onto Google Cloud infrastructure over an 18- to 24-month period. Nokia said the deal reflects the company’s operational shift toward a cloud-first IT strategy. The cloud move is also meant to help Nokia manage its digital operations and expand collaboration capabilities for its employees working remotely amid the pandemic, Nokia explained in statement. Under the…

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Lagos on course to deploy 6,000km of fibre, 2000 CCTV by 2022 – Sanwo-Olu

In an attempt to deepen broadband penetration in the Nigeria’s economic capital, Lagos State, Mr Babajide Sanwo-Olu, governor of the state has assured that the state government is committed to deploying 6,000 kilometres of fibre optic cable across the state by 2022. The governor stated this on Thursday in his Goodwill message at National Dialogue on ICT and Telecommunication organised in Abuja by the Association of Telecommunications Companies of Nigeria (ATCON). He added that the government is also working to deploy minimum of 2,000 closed circuit television (CCTV) cameras across…

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Lagos-based fintech firm, Paystack, acquired for $200m by Stripe

Lagos-based fintech firm, Paystack, acquired for $200m by Stripe

Stripe has acquired Paystack, an e-payment startup based in Lagos, Nigeria for a sum in excess of $200 million, TechCrunch reported on Thursday. The report added that the move is a critical step in Stripe’s plan to penetrate the African e-payment market. Paystack and Stripe share similarities such as the provision of a quick way to integrate payments services into an online or offline transaction by way of an API Paystack currently has around 60,000 customers, including small businesses, larger corporates, fintechs, educational institutions, and online betting companies, and the…

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2020: Global life & health insurance becomes biggest industry with $4.4trn revenue

2020: Global life & health insurance becomes biggest industry with $4.4trn revenue

According to the research data analyzed and published by ComprarAcciones.com, life and health insurance will be the biggest industry globally in 2020. The sector has been growing at an average rate of 2.4 per cent from 2015 to 2020 and will surpass $4.384 trillion. According to Global Data, the insurance sector as a whole raked in $2.611 trillion in 2019 and was the sixth largest. Notably though, an Allianz Global insurance report projects a decline of 3.8 per cent for the industry worldwide in 2020. 2019 was a great year…

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Global ETF inflows jumped 40% despite pandemic

Global ETF inflows jumped 40% despite pandemic

A recent Financial Times article pointed out that exchange-traded funds (ETFs) inflows all around the world jumped 40 per cent despite the economic effects of the Covid-19 pandemic. “Net flows into exchange traded funds have jumped 40 per cent so far this year with the growing shift into low-cost index tracking vehicles forcing the pace of consolidation across the asset management industry to accelerate markedly,” the FT article said. “Morgan Stanley agreed last week to stump up $7 billion to acquire Eaton Vance while Franklin Templeton paid $6.5 billion to…

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FG charges NIMC to increase identity enrolments by 500%

The Federal Government has charged the National Identity Management Commission to ensure a 500 per cent increase in the number of monthly citizen digital identity enrolments. Isa Pantami, minister of communications and digital economy, who gave the charge on behalf of the government in Abuja on Wednesday, said the exercise should increase from the current 500,000 monthly enrolments to 2.5 million monthly. Pantami said this while being briefed by the management team of the NIMC on their activities following the final transfer of the commission to the communications ministry. The…

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Oil prices hold gains after U.S. crude inventory draw

oil price and equities

Oil prices edged higher on Thursday, extending their 2 per cent gains from the previous session, after data showed U.S. crude stockpiles fell last week, while OPEC and its allies were seen complying with their pact to curb output in September. West Texas Intermediate (WTI) crude CLc1 futures climbed 8 cents, or 0.2 per cent, to $41.12 a barrel at 0430 GMT, while Brent crude LCOc1 futures rose 7 cents, or 0.2 per cent to $43.39 a barrel. Oil markets climbed for a third day despite resurgence in COVID-19 infections…

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