YouTube Music deepens investment in black communities with #YouTubeBlack Voice Fund

  YouTube Music deepens investment in black communities with #YouTubeBlack Voice Fund     YouTube Music is deepening investments in Black communities by opening applications to the #YouTubeBlack Voices Fund Class of 2022, aimed at enabling Black artists to commercialise their work. Grant applications for the #YouTubeBlack Voices Fund Class of 2022 will open on 21 June 2021. Eligibility has been expanded to include songwriters and producers, allowing Black artists residing in Kenya, South Africa, Nigeria, Canada and the UK, in addition to the U.S., Brazil and Australia, to apply.…

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KPMG experts react to SEC’s June 30 compliance deadline with crowdfunding rules

crowdfunding rules

KPMG experts reacts to SEC’s June 30 compliance deadline with crowdfunding rules The Securities and Exchange Commission (SEC) recently announced a deadline of Wednesday, 30 June 2021 for compliance with the SEC Crowdfunding Rules. The rules, which took effect on 21 January 2021, mandate entities in the crowdfunding ecosystem (crowdfunding intermediaries, fundraisers, commodities investment platforms, etc.) to comply with the stated requirements within 90 days from the effective date, that is 21 April 2021. However, following the SEC’s announcement, affected companies now have until 30 June 2021 to ensure full…

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NCC concludes cost-based study on international termination rate determination

NCC begins review of telecoms licensing structure

NCC concludes cost-based study on international termination rate determination     The Nigerian Communications Commission (NCC) has concluded the process for determining the cost-based price of Mobile International Termination Rate (ITR) to ensure healthy competition on traffic handling for voice services between local and international operators in Nigeria. The Commission made this known at the final Stakeholders’ Forum for the presentation of the study on cost-based pricing of mobile ITR, undertaken by Messrs Payday Advance and Support Services Limited, held at the Commission’s Head Office in Abuja on Tuesday, June…

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COVID-19 ERA: Rise in cyberattacks pushes 87% IT teams in Nigeria to upskill – Sophos

Sophos exposes Black Kingdom ransomware

COVID-19 ERA: Rise in cyberattacks pushes 87% IT teams in Nigeria to upskill – Sophos     Sophos, a global leader in next-generation cybersecurity, today announced the findings of its global survey, “The IT Security Team: 2021 and Beyond,” which shows how increased security challenges during the pandemic offered IT teams a unique opportunity to build their cybersecurity expertise. The vast majority of IT teams in Nigeria that faced a rise in cyberattacks (87%) and a heavier security workload (91%) over the course of 2020 strengthened their security skills and…

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Stocks rally N151bn gain to retain uptrend

Equities make rebound attempt with N30bn gain In a struggle between the bear and bull camps, the bulls managed to reclaim the trading floor of the Nigerian Exchange Limited on Wednesday by closing the session on N30 billion gain. The gain of the day was however a mere attempt to recover a whooping loss of N340 billion to sell-offs in the preceding session. Business Metrics also observed that the N30 billion profit was a narrow escape from another bearish experience that prevailed for most of trading hours of the day before activities in the shares or MTN Nigeria at the eleventh hour averted the crisis and thus, spurred the first gain of the week. As MTN gained 1.2 per cent to close the day, the benchmark index inched higher by 0.15 per cent to 38,564.70 basis points, while market capitalisation followed suit to close higher at N20.099 trillion. Consequently, the Month-to-Date (MtD) return increased to +0.3 per cent, while the Year-to-Date (YtD) loss moderated to -4.2 per cent. Sectoral performance was mixed, as the Oil & Gas and consumer goods indices gained +0.9 per cent and +0.2 per cent respectively, while the insurance and banking indices closed in the red by -0.5 per cenr and -0.3 per cent in that order. The Industrial Goods index was flat. Turnover for the session was mixed as total volume traded increased by 1.81 per cent against shrinking trade value that plunged by 23.02 per cent. At the close of the session, investors collectively traded 302.72 million share units, valued at N2.81 billion, and exchanged in 4,387 deals. This is in contrast with 297.34 million shares worth N3.65 billion that exchanged hands in 4,402 transactions in the previous session. According to trading statistics obtained from the Nigerian Exchange Limited, STERLNBANK was the most traded stock by volume at 37.47 million units, while GUARANTY was the most traded stock by value at N745.34 million. As measured by market breadth, market sentiment turned positive (1.4x) as 27 tickers gained, relative to 20 losers. CORNERST and MORISON recorded highest gains of the day as they appreciated by 10.0 per cent and 9.7 respectively. On the flip side, while both ABBEYBDS and CHIPLC shed -9.5 per cent in share prices to top the losers’ list.

Stocks rally N151bn gain to retain uptrend     Collective performance of the Nigerian stock market remained positive on Wednesday as Tuesday’s bullish outlook spilled over with the All-Share Index (ASI) appreciating by 0.7 per cent to 39,170.95 basis points. This amounted to N151 billion profit for investors who went all the way to the bank as the session was bouyed by strong buying interest in the shares of Dangote Cement (+2.2 per cent), Okomu Oil (+9.8 per cent), and GTBank (+1.8 per cent). Consequently, the market’s year to date…

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MTN pays shareholders better dividend of N9.40k per share

MTN pays shareholders better dividend of N9.40k per share

MTN pays shareholders better dividend of N9.40k per share     Nigeria’s mobile telecommunications giant, MTN Nigeria Communications Plc, has announced the payment of N9.40k as final dividend for the year ended December 31st, 2020. The 2020 dividend is an improvement by 18.7 per cent compared with the preceding year, 201. MTN Nigeria’s Chairman, Dr. Ernest Ndukwe said “Despite the challenging operating conditions during the year, I am happy to report that our company recorded improved performance across all key metrics, creating the shareholder value achieved. “This performance demonstrates the…

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DigitalSENSE Forum 2021: ISPON president to Explore Role of Nigerian Software in Digital Economy

ISPON president

DigitalSENSE Forum 2021: ISPON president to Explore Role of Nigerian Software in Digital Economy     The President of the Institute of Software Practitioners of Nigeria (ISPON), Mr. Chinenye Mba-Uzoukwu, has been slated to give a keynote at the 2021 edition of the Nigeria DigitalSENSE Africa Forum on Internet Governance for Development (IG4D), billed for Thursday, June 10, at the Golden Tulip Hotels Essential, International Airport Road, Lagos. The organisers through the Lead Consulting Strategist and Group Executive Editor, ITREALMS Media inc, Mr. Remmy Nweke, confirmed this, adding that ISPON president would be…

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