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Analyst Insight3 days ago

ANALYSIS: Stock Trading in May Leaves Investors N1.8tr Richer, But June Outlook Dicey

By Ambrose Omordion, Chief Research Officer at Investdata Consulting Ltd Trading on the last day of May 2023 on the...
Unremitted Pension: PenCom Fines Employers N12.1BN Unremitted Pension: PenCom Fines Employers N12.1BN
Pension4 days ago

Unremitted Pension: PenCom Fines Employers N12.1BN
Tinubu Sworn in As Nigeria’s 16th President as Buhari Bows Out Tinubu Sworn in As Nigeria’s 16th President as Buhari Bows Out
General6 days ago

Tinubu Sworn in As Nigeria’s 16th President as Buhari Bows Out
FGN savings bonds FGN savings bonds
Markets1 week ago

Allotted FGN Savings Bonds on NGX Hit N5.06BN in 5 Months

Latest

FIRS: Nigeria’s tax-to-GDP ratio rises to 10.86% as at 2021
Economy3 days ago

FIRS: Nigeria’s tax-to-GDP ratio rises to 10.86% as at 2021

Nigeria’s Tax-to-GDP ratio which, in the last 12 years, hovered between 5% to 6% rose to 10.86% by the end...
6 Ways Google is Working with AI in Africa
Social Media5 days ago

6 Ways Google is Working with AI in Africa
NNPC Subsidy Removal
Energy5 days ago

Full Subsidy Removal a Welcome Development – NNPC Boss
ATCON
Telecoms5 days ago

ATCON Makes Recommendations to Tinubu on Next Communications Minister
Bonds Issuance Appetite in Nigeria Gains 502.4% Traction 
Markets5 days ago

Bonds Issuance Appetite in Nigeria Gains 502.4% Traction 
LASG Partners FirstBank on Primary Healthcare for 10,000 Lagosians
Health6 days ago

LASG Partners FirstBank on Primary Healthcare for 10,000 Lagosians
Investors Gain N428 Billion as Equities Rebound
Capital Market6 days ago

Investors Gain N428 Billion as Equities Rebound

In Case You Missed This

Investors Gain N428 Billion as Equities Rebound
Capital Market6 days ago

Investors Gain N428 Billion as Equities Rebound
Chester Wizniewski
Technology6 days ago

Protecting Assets in a Remote-First (and potentially Hostile) World
ATCON
Telecoms5 days ago

ATCON Makes Recommendations to Tinubu on Next Communications Minister
LASG Partners FirstBank on Primary Healthcare for 10,000 Lagosians
Health6 days ago

LASG Partners FirstBank on Primary Healthcare for 10,000 Lagosians
6 Ways Google is Working with AI in Africa
Social Media5 days ago

6 Ways Google is Working with AI in Africa
National Productivity Order of Merit Award
Profiles4 days ago

Danbatta to Receive National Productivity Order of Merit Award
Fuel subsidy removal
Economy6 days ago

JUST IN: ‘Fuel Subsidy Is Gone’, President Tinubu Declares In Inaugural Speech
Bonds Issuance Appetite in Nigeria Gains 502.4% Traction 
Markets5 days ago

Bonds Issuance Appetite in Nigeria Gains 502.4% Traction 
NNPC Subsidy Removal
Energy5 days ago

Full Subsidy Removal a Welcome Development – NNPC Boss
Tinubu’s Inaugural Presidential Speech
General6 days ago

FULL TEXT: Tinubu’s Inaugural Presidential Speech
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Markets

Analyst Insight7 hours ago

Companies’ Other Comprehensive Income: Looking Beyond the Obvious

By Kaliba Bilala “Most large complex financial institutions are global—at least in life if not in death.” – Mervyn King...
Equities Yield N21BN Gain to Start June Equities Yield N21BN Gain to Start June
Capital Market3 days ago

Equities Yield N21BN Gain to Start June
Stock Investors Share N17BN Profit as Index Rises by 0.06% Stock Investors Share N17BN Profit as Index Rises by 0.06%
Capital Market4 days ago

Stock Investors Share N17BN Profit as Index Rises by 0.06%
i-invest Boast of 130,000 Subscribers in 5 years
Capital Market4 days ago

i-invest Boast of 130,000 Subscribers in 5 years
AFC Secures $625m Syndicated Loan with New Lenders
Finance4 days ago

AFC Secures $625m Syndicated from Global Investors
Tinubu’s Pro-Market Policies Spur N1.51 Trillion Profit in 1 Day
Capital Market4 days ago

Stocks: Tinubu’s Pro-Market Policies Spur N1.51 Trillion Profit
Bonds Issuance Appetite in Nigeria Gains 502.4% Traction 
Markets5 days ago

Bonds Issuance Appetite in Nigeria Gains 502.4% Traction 
Investors Gain N428 Billion as Equities Rebound
Capital Market6 days ago

Investors Gain N428 Billion as Equities Rebound
Nigerian Treasury Bills Yield Rises to 7%
Money and Fixed Income2 weeks ago

Nigerian Treasury Bills Yield Rises to 7%
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Technology

National Productivity Order of Merit Award National Productivity Order of Merit Award
Profiles4 days ago

Danbatta to Receive National Productivity Order of Merit Award
6 Ways Google is Working with AI in Africa 6 Ways Google is Working with AI in Africa
Social Media5 days ago

6 Ways Google is Working with AI in Africa
ATCON ATCON
Telecoms5 days ago

ATCON Makes Recommendations to Tinubu on Next Communications Minister
Chester Wizniewski Chester Wizniewski
Technology6 days ago

Protecting Assets in a Remote-First (and potentially Hostile) World
Ad Dynamo Ad Dynamo
Technology1 week ago

Leveraging Digital Marketing Tactics to Drive e-Commerce Sales
NITRA NITRA
News1 week ago

PRESS AFFAIRS: Nigeria IT Reporters’ Association Elects New EXCO

Cryptocurrency

Nairacoin Nairacoin
Cryptocurrency2 weeks ago

Nigerian Techy Launches Nairacoin, Africa’s First Native Coin

Michael Nsikak John, a graduate of Mathematics from the University of Nigeria, Nsuka, Nigeria, has launched Nairacoin, the first native...
Relationship Between Crypto and AI Relationship Between Crypto and AI
Cryptocurrency5 months ago

What’s the Relationship Between Crypto and AI? Is There Any?

By David Z. Morris The past six months has been a banner stretch for the development of artificial intelligence (AI). Image...
Failed Crypto Exchange FTX Recovers $5B in Assets, Bankruptcy Failed crypto exchange FTX has recovered more than $5 billion in different assets, not including another $425 million in crypto held by the Securities Commission of the Bahamas, a bankruptcy attorney said during a hearing Wednesday. According to the attorney, there's still a sum missing in what is owed to customers and the amount is still unclear. "We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities measured at petition date value. It just does not ascribe any value to holdings of dozens of illiquid cryptocurrency tokens, where our holdings are so large relative to the total supply that our positions cannot be sold without substantially affecting the market for the token," said Landis Rath & Cobb attorney Adam Landis on FTX's behalf. The announcement substantially raises the total FTX claims it holds, after the company's new leadership said it could only find just over $1 billion on Dec. 20, 2022. The total amount FTX owes its creditors is still unclear. In initial bankruptcy filings, the company's management checked off the box indicating a figure between $1 billion and $10 billion. Embattled former CEO of FTX Exchange, Sam Bankman-Fried, reportedly instructed his lieutenant, Gary Wang, to create a "backdoor" for Alameda to borrow from FTX customers without their permission, Landis said. He added the former CEO created a line of credit worth $65 billion from the exchange to the trading arm. "We know what Alameda did with the money. It bought planes, houses, threw parties, made political donations. It made personal loans to its founders. It sponsored the FTX Arena in Miami, a Formula One team, the League of Legends, Coachella and many other businesses, events and personalities," Landis said. He added that this has led to a "shortfall in value" to repay customers and creditors. "The amount of the shortfall is not yet clear. It will depend on the size of the claims pool and our recovery efforts. But every week we come closer to completing the work necessary to estimate recoveries for the purposes of a plan of reorganization," Landis said. Chief Financial Officer Mary Cilia estimated in December the company could complete that work by April. However, Judge John Dorsey of the Delaware Bankruptcy Court set a March 15 deadline in Wednesday's hearing. Brian Glueckstein of Sullivan & Cromwell said there may be as many as 9 million creditors, echoing a figure made by Kevin Cofsky, a partner with Parella Weinberg Partners, a financial advisory firm. Landis also spoke about a recently announced cooperation agreement with the Securities Commission of the Bahamas, saying it was "an important first step to align incentives and maximize joint recoveries." "It does not matter who collects $1 for customers, as long as the customers get it," Landis said. "We've established a task force with the official committee of creditors and the Bahamas JPL to explore alternatives for the sale or reorganization of the international platform." Failed Crypto Exchange FTX Recovers $5B in Assets, Bankruptcy Failed crypto exchange FTX has recovered more than $5 billion in different assets, not including another $425 million in crypto held by the Securities Commission of the Bahamas, a bankruptcy attorney said during a hearing Wednesday. According to the attorney, there's still a sum missing in what is owed to customers and the amount is still unclear. "We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities measured at petition date value. It just does not ascribe any value to holdings of dozens of illiquid cryptocurrency tokens, where our holdings are so large relative to the total supply that our positions cannot be sold without substantially affecting the market for the token," said Landis Rath & Cobb attorney Adam Landis on FTX's behalf. The announcement substantially raises the total FTX claims it holds, after the company's new leadership said it could only find just over $1 billion on Dec. 20, 2022. The total amount FTX owes its creditors is still unclear. In initial bankruptcy filings, the company's management checked off the box indicating a figure between $1 billion and $10 billion. Embattled former CEO of FTX Exchange, Sam Bankman-Fried, reportedly instructed his lieutenant, Gary Wang, to create a "backdoor" for Alameda to borrow from FTX customers without their permission, Landis said. He added the former CEO created a line of credit worth $65 billion from the exchange to the trading arm. "We know what Alameda did with the money. It bought planes, houses, threw parties, made political donations. It made personal loans to its founders. It sponsored the FTX Arena in Miami, a Formula One team, the League of Legends, Coachella and many other businesses, events and personalities," Landis said. He added that this has led to a "shortfall in value" to repay customers and creditors. "The amount of the shortfall is not yet clear. It will depend on the size of the claims pool and our recovery efforts. But every week we come closer to completing the work necessary to estimate recoveries for the purposes of a plan of reorganization," Landis said. Chief Financial Officer Mary Cilia estimated in December the company could complete that work by April. However, Judge John Dorsey of the Delaware Bankruptcy Court set a March 15 deadline in Wednesday's hearing. Brian Glueckstein of Sullivan & Cromwell said there may be as many as 9 million creditors, echoing a figure made by Kevin Cofsky, a partner with Parella Weinberg Partners, a financial advisory firm. Landis also spoke about a recently announced cooperation agreement with the Securities Commission of the Bahamas, saying it was "an important first step to align incentives and maximize joint recoveries." "It does not matter who collects $1 for customers, as long as the customers get it," Landis said. "We've established a task force with the official committee of creditors and the Bahamas JPL to explore alternatives for the sale or reorganization of the international platform."
Cryptocurrency5 months ago

Failed Crypto Exchange FTX Recovers $5B in Assets, Bankruptcy

Sandra Orim Failed crypto exchange FTX has recovered more than $5 billion in different assets, not including another $425 million...
Binance CEO Changpeng Zhao Binance CEO Changpeng Zhao
Cryptocurrency6 months ago

Deposits Returning to Binance After Massive Sell-Offs by Investors – CEO  

By Christy Animam Binance CEO Changpeng Zhao on Wednesday said that the situation has “stabilized” at his cryptocurrency exchange, in...
Crypto Platform Ejara Raises $8M, Targets 100K Users by Year End Crypto Platform Ejara Raises $8M, Targets 100K Users by Year End
Cryptocurrency6 months ago

Crypto Platform Ejara Raises $8M, Targets 100K Users by Year End

By Christy Animam Ejara, a Cameroonian fintech offering an investment app that allows users to buy crypto and save through...
Digital Encode Digital Encode
Cryptocurrency6 months ago

Blockchain Will Redefine Company of the Future – Digital Encode CTO

Dr. Oluseyi Akindehinde, the Co-founder and Chief Technical Officer (CTO) of Digital Encode Limited, has identified blockchain and the mobile...

Economy

NNPC Limited Releases New Pump Prices of Petrol in Nigeria
Economy4 days ago

NNPC Limited Releases New Pump Prices of Petrol in Nigeria

The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump prices of petrol (PMS) by over 200 per cent bringing the...
Investors Gain N428 Billion as Equities Rebound Investors Gain N428 Billion as Equities Rebound
Capital Market6 days ago

Investors Gain N428 Billion as Equities Rebound
Fuel subsidy removal Fuel subsidy removal
Economy6 days ago

JUST IN: ‘Fuel Subsidy Is Gone’, President Tinubu Declares In Inaugural Speech
‘Poor Nigerians Benefit Only 3% of $10BN Fuel Subsidy Paid in 2022’
Economy1 week ago

‘Poor Nigerians Benefit Only 3% of $10BN Fuel Subsidy Paid in 2022’
Africa  Projected as World’s Second-Fastest Growing Economy
Economy1 week ago

Africa Projected as World’s Second-Fastest Growing Economy
AfDB Projects African Economy to Grow by 4.1% Amid Crises
Economy1 week ago

African Economy to Grow by 4.1% Amid Crises – AfDB
Nigeria’s Gross Domestic Product
Economy1 week ago

Nigeria’s Gross Domestic Product Slows to 2.31% in Q1 2023
Naira Parallel Market Rate Falls to N760/1$
Economy2 weeks ago

Naira Parallel Market Rate Falls to N760/1$
13% derivation refunds
Economy2 weeks ago

Court Fixes May 24 for Suit Probing A/Ibom on 13% Derivation Refunds
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Commodities News & Agribusiness

Nigeria Loses Crown to Angola as Africa’s Largest Oil Producer Nigeria Loses Crown to Angola as Africa’s Largest Oil Producer
Commodities News & Agribusiness3 weeks ago

Nigeria Loses Crown to Angola as Africa’s Largest Oil Producer
Senate Indicts Bank of Agric Over N3.2Bn Loan Disbursement Senate Indicts Bank of Agric Over N3.2Bn Loan Disbursement
Commodities News & Agribusiness1 month ago

Senate Indicts Bank of Agric Over N3.2BN Loan Disbursement
Jinja App Jinja App
Commodities News & Agribusiness1 month ago

Firm Launches Jinja App to Enhance Sales of Farm Products
Tomato Ebola Tomato Ebola
Commodities News & Agribusiness1 month ago

Tomato Ebola Destroys 300-hectare Farmlands Worth N1.5BN

Finance

AfDB Approves $20m Private Capital for Africa Infrastructure AfDB Approves $20m Private Capital for Africa Infrastructure
Finance3 days ago

AfDB Approves $20m Private Capital for Africa Infrastructure
Food Security in Africa Food Security in Africa
Insurance4 days ago

AIO President Tasks Insurers on Food Security in Africa
AFC Secures $625m Syndicated Loan with New Lenders AFC Secures $625m Syndicated Loan with New Lenders
Finance4 days ago

AFC Secures $625m Syndicated from Global Investors
Naira Parallel Market Rate Falls to N760/1$ Naira Parallel Market Rate Falls to N760/1$
Economy2 weeks ago

Naira Parallel Market Rate Falls to N760/1$
M-KOPA Combines Debt, Equity to Raise $250m for Expansion in Africa M-KOPA Combines Debt, Equity to Raise $250m for Expansion in Africa
Fintech3 weeks ago

M-KOPA Combines Debt, Equity to Raise $250m for Expansion in Africa
USSD Debt USSD Debt
Finance3 weeks ago

Telcos Get NCC’s Approval to Disconnect Banks over N120BN USSD Debt
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Viewpoints

Take Advantage of AI Changing the Rules of Digital Marketing
Technology3 weeks ago

Take Advantage of AI Changing the Rules of Digital Marketing

By Alistair Errington After years of promising advances, the past year has been a breakthrough for bringing artificial intelligence (AI)...
You Can Digitally Supercharge Yourself as an Entrepreneur You Can Digitally Supercharge Yourself as an Entrepreneur
Technology1 month ago

You Can Digitally Supercharge Yourself as an Entrepreneur: Here’s How
Four Technologies That Can Drive Nigeria’s Cashless Economy Four Technologies That Can Drive Nigeria’s Cashless Economy
Finance1 month ago

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RCS: Empowering MNOs to Compete Against OTT Players in Lucrative A2P Messaging Space
Technology1 month ago

RCS: Empowering MNOs to Compete Against OTT Players in Lucrative A2P Messaging Space
Technology1 month ago

INSIGHT: How Nigerian Businesses Can Harness Conversational Messaging for Better Customer Engagement
Banking1 month ago

Boosting Brofitability and Enhancing Deeper Customer Engagement with Conversational Banking
5 Ways AI Boost Sustainability for People, Businesses and Governments
Technology2 months ago

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 Seplat, FDI and the Rule of Law
Energy2 months ago

 Op-ed: Seplat, FDI and the Rule of Law
Artificial Intelligence and the passenger experience 
Technology2 months ago

AI for Small Business Marketing : Improve Your Sales and Conversions
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General News

Tinubu's Inaugural Speech Cordros Capital
Analyst Insight4 days ago

A Look at Tinubu’s Inaugural Speech, by Cordros Capital

On 29 May, President Bola Ahmed Tinubu was inaugurated as the 16th President of Nigeria. As with the usual practice,...
NNPC Subsidy Removal NNPC Subsidy Removal
Energy5 days ago

Full Subsidy Removal a Welcome Development – NNPC Boss
LASG Partners FirstBank on Primary Healthcare for 10,000 Lagosians LASG Partners FirstBank on Primary Healthcare for 10,000 Lagosians
Health6 days ago

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Tinubu’s Inaugural Presidential Speech
General6 days ago

FULL TEXT: Tinubu’s Inaugural Presidential Speech
Children's Day
General1 week ago

Children’s Day: MTN Prepares N5m Worth Prizes for 500 Students
Women in Nation Building
General2 weeks ago

NIgerian Women Charged to Participate Actively in Nation Building
EWAN Applauds Elumelu’s Investments in Nigeria’s Education Sector 
Education2 weeks ago

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CAC Alhaji Garba Abubakar
General2 weeks ago

CAC Boss Blames New Policies for Agency’s Funding Challenges
13% derivation refunds
Economy2 weeks ago

Court Fixes May 24 for Suit Probing A/Ibom on 13% Derivation Refunds
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Travels & Aviations

Technology1 month ago

SafeBoda Appoints Former CFO Rob Sanford as New CEO

The Kampala-headquartered mobility company has appointed former chief financial officer, Rob Sanford as CEO as former co-CEOs and co-founders, Alastair...
South African Government has granted Nigerian business people 10 years’ visas. South African Government has granted Nigerian business people 10 years’ visas.
News1 month ago

South Africa Grants 10-Year Visas to Nigerians
Mass Transit Electric Buses Mass Transit Electric Buses
Autos1 month ago

Oando Takes Delivery of Nigeria’s First Mass Transit Electric Buses
Nigeria's Autochek Acquires Majority Stake in Egypt’s AutoTager
Travels2 months ago

Nigeria’s Autochek Acquires Majority Stake in Egypt’s AutoTager
Motor Africa Partners OnePipe on Innovative Payment, Credit Services in Transportation
Technology2 months ago

Motor Africa Partners OnePipe on Innovative Payment, Credit Services in Transportation
Flight Delay, Disruption as Aviation Workers Commence Warning Strike
Aviation2 months ago

Flight Delay, Disruption Imminent as Aviation Workers Commence Warning Strike
Konga Travels Targets 20 Million Nigerians with Pay As You Earn Flights Payment Plan
Travels2 months ago

Konga Travels Targets 20 Million Nigerians with Pay As You Earn Flights Payment Plan
NCC Targets Over 50% Broadband Penetration by Year End
Aviation2 months ago

NCC to Provide N24.2bn for Internet Access at 20 Airports, Says Pantami
Nigeria Blocks Repatriation of $191m Foreign Airlines’ Funds in 2023
Aviation3 months ago

Nigeria Blocks Repatriation of $191m Foreign Airlines’ Funds in 2023
More Travels & Aviations

Energy

‘Poor Nigerians Benefit Only 3% of $10BN Fuel Subsidy Paid in 2022’
Economy1 week ago

‘Poor Nigerians Benefit Only 3% of $10BN Fuel Subsidy Paid in 2022’

The argument that fuel subsidy payment in Nigeria only benefits the rich has just been reinforced by Mr. Akinwunmi Adesina,...
Unlicensed Fuel Marketers Have Only One Week to Remain in Business – FG Unlicensed Fuel Marketers Have Only One Week to Remain in Business – FG
Energy2 weeks ago

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TAG Energy Group Partners with Bosch Rexroth for Automation Solutions TAG Energy Group Partners with Bosch Rexroth for Automation Solutions
Business3 weeks ago

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Nigeria Failing to Meet 50% Allowable Oil Output
Economy3 weeks ago

Nigeria Failing to Meet 50% of Its Technically Allowable Oil Output
Shell Wins UK Supreme Court Case on 2011 Oil Spill off Nigeria’s Coastline
Energy3 weeks ago

Shell Wins UK Supreme Court Case on 2011 Oil Spill off Nigeria’s Coastline
Diesel price in Nigeria
Economy1 month ago

Diesel Price in Nigeria Increases by 55.9%; Petrol Rises by 42.63% – NBS
Exxon Declares Force Majeure on Nigeria’s Oil
Energy2 months ago

Exxon Declares Force Majeure on Nigeria’s Oil
Renewable Energy: 5m Rural Nigerians Impacted With New Connections In 3 Years
Energy2 months ago

Renewable Energy: 5m Rural Nigerians Impacted With New Connections In 3 Years
 Seplat, FDI and the Rule of Law
Energy2 months ago

 Op-ed: Seplat, FDI and the Rule of Law
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Showbiz

Anger, Disappointment as Nigerians React Increase in DSTV, GOTV Subscription Rates By Rosemary Iwuala MultiChoice Nigeria, a satellite TV service provider, has announced an increase in the prices of its DStv and GOtv packages via text message to its subscribers yesterday. Following this announcement, Nigerians have expressed much anger and disappointment over the increase of the DStv, GOtv subscription rates by MultiChoice. According to Multichoice, the new rates for MultiChoice Nigeria’s DStv and GOtv packages will take effect from May 1st, 2023. The Compact+ bouquet was raised to N16,600 from N14,250 monthly, representing 16.5 per cent rise. Subscribers on the Compact bouquet will pay N10,500 as against N9,000 representing a 16.7 per cent surge, while those on the Confam package are to pay N6,200 compared to the previous N5,300, a 17 per cent increase. DStv Yanga subscribers are set to pay N3,500 as against the N2,950, up by 18.6 per cent while Padi bouquets will pay N2,500 compared to N2,150 which is a 16.3 per cent rise. GoTV Supa subscribers will pay N6,400 against N5,500, up 16.4 per cent; Max rose from N4,150 to N4,850 which rose 16.9 per cent; GOtv Joli price rose from N2,800 to N3,300, 17.9 per cent; Jinja rose from N1,900 to N2,250 and GOtv Lite subscription rose from N900 to N1,100, a 22.2 per cent rise. The company in an internal memo said, “Due to the various economic challenges affecting our business operations, we have had to review the price of our packages to continue delighting our customers with great entertainment, anytime and anywhere.” “MultiChoice acknowledges the difficult economic climate and thus kept the increase at the lowest possible point whilst ensuring sustainability and provision of quality services. “At MultiChoice Nigeria, our mission is to deliver value to our customers by making great entertainment accessible. Our key priority is to put our customer’s needs at the heart of everything we do.” However, the company has allowed customers to pay the old rates for 12 months if they pay monthly before the expiration of their subscriptions. Similarly, it grants subscribers, who pay for one year at a go, before the new prices kick in, the opportunity to pay the old tariffs. Nigerians have been expressing their disappointment and dissatisfaction with the increased cost of the service, especially in light of the current economic situation in the country, while others understood the challenges faced by MultiChoice Nigeria and the need to adjust prices. Here are some of the reactions from subscribers due to the increase in prices of its DStv and GOtv packages that was announced yesterday. One subscriber @KujojiAnthony wrote, “@gotv @multichoice U guys are just extorting us in this country. You increased your tariff from 1,900 to 2,400 which we didn’t complain much about. Now you have reduced the channels. No more CH 34 where we watch la liga..No more CH67 for cartoons. What is d increment for?”. Another subscriber @LAKERS_ADELEKE said, “Does it mean @ MULTICHOICE can just come up with charges yearly without getting approval from anywhere, does it mean there were no conditions given to the organization as per the rules of engagement, is Nigeria that weak that MULTICHOICE cannot be checked? “ Also, another subscriber, Mrs. Chidinma Okeke, said, “I am very disappointed with MultiChoice. They have been increasing their subscription rates every year, and it is becoming too much. I might have to consider switching to other service providers.”
General1 month ago

Anger, Disappointment as Nigerians React to Increase in DSTV, GOTV Subscription Rates

By Rosemary Iwuala MultiChoice Nigeria, a satellite TV service provider, has announced an increase in the prices of its DStv...
ALAT by Wema Bank ALAT by Wema Bank
Banking2 months ago

Wema Bank Launches ‘Sounds of ALAT’ with N6m Prizes for Winners
Spotify Commits its Creator Equity Fund to Promoting Ghana’s Emerging Artists Spotify Commits its Creator Equity Fund to Promoting Ghana’s Emerging Artists
Showbiz2 months ago

Spotify Invests in Ghana’s Upcoming Artists via Vibrate Space
Anger, Disappointment as Nigerians React Increase in DSTV, GOTV Subscription Rates By Rosemary Iwuala MultiChoice Nigeria, a satellite TV service provider, has announced an increase in the prices of its DStv and GOtv packages via text message to its subscribers yesterday. Following this announcement, Nigerians have expressed much anger and disappointment over the increase of the DStv, GOtv subscription rates by MultiChoice. According to Multichoice, the new rates for MultiChoice Nigeria’s DStv and GOtv packages will take effect from May 1st, 2023. The Compact+ bouquet was raised to N16,600 from N14,250 monthly, representing 16.5 per cent rise. Subscribers on the Compact bouquet will pay N10,500 as against N9,000 representing a 16.7 per cent surge, while those on the Confam package are to pay N6,200 compared to the previous N5,300, a 17 per cent increase. DStv Yanga subscribers are set to pay N3,500 as against the N2,950, up by 18.6 per cent while Padi bouquets will pay N2,500 compared to N2,150 which is a 16.3 per cent rise. GoTV Supa subscribers will pay N6,400 against N5,500, up 16.4 per cent; Max rose from N4,150 to N4,850 which rose 16.9 per cent; GOtv Joli price rose from N2,800 to N3,300, 17.9 per cent; Jinja rose from N1,900 to N2,250 and GOtv Lite subscription rose from N900 to N1,100, a 22.2 per cent rise. The company in an internal memo said, “Due to the various economic challenges affecting our business operations, we have had to review the price of our packages to continue delighting our customers with great entertainment, anytime and anywhere.” “MultiChoice acknowledges the difficult economic climate and thus kept the increase at the lowest possible point whilst ensuring sustainability and provision of quality services. “At MultiChoice Nigeria, our mission is to deliver value to our customers by making great entertainment accessible. Our key priority is to put our customer’s needs at the heart of everything we do.” However, the company has allowed customers to pay the old rates for 12 months if they pay monthly before the expiration of their subscriptions. Similarly, it grants subscribers, who pay for one year at a go, before the new prices kick in, the opportunity to pay the old tariffs. Nigerians have been expressing their disappointment and dissatisfaction with the increased cost of the service, especially in light of the current economic situation in the country, while others understood the challenges faced by MultiChoice Nigeria and the need to adjust prices. Here are some of the reactions from subscribers due to the increase in prices of its DStv and GOtv packages that was announced yesterday. One subscriber @KujojiAnthony wrote, “@gotv @multichoice U guys are just extorting us in this country. You increased your tariff from 1,900 to 2,400 which we didn’t complain much about. Now you have reduced the channels. No more CH 34 where we watch la liga..No more CH67 for cartoons. What is d increment for?”. Another subscriber @LAKERS_ADELEKE said, “Does it mean @ MULTICHOICE can just come up with charges yearly without getting approval from anywhere, does it mean there were no conditions given to the organization as per the rules of engagement, is Nigeria that weak that MULTICHOICE cannot be checked? “ Also, another subscriber, Mrs. Chidinma Okeke, said, “I am very disappointed with MultiChoice. They have been increasing their subscription rates every year, and it is becoming too much. I might have to consider switching to other service providers.”
Showbiz3 months ago

MultiChoice Unveils Indigenous Content for 2023
Prime Video Mobile
Entertainment3 months ago

Prime Video Mobile: MTN, Amazon Add New Option to Streaming Economy
Spotify Pays $40BN Royalties to Music Industry
Showbiz3 months ago

Spotify Pays $40BN Royalties to Music Industry
DecemberIssaVybe
Extra5 months ago

FirstBank Defies Difficult Times to Excite Families with Unique DecemberIssaVybe Experience
YouTube Unveils 2022 End of Year Lists in Nigeria
Showbiz7 months ago

Creative Economy: YouTube Pledges $50,000, $20,000, Grants for 2023 Youtubeblack Voices Cohorts
See Top Trending BBNaija Housemates, According to Google
Showbiz9 months ago

See Top Trending BBNaija Housemates, According to Google
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Appointments

TechEconomy Peter Oluka joins NiRA Board
Appointments1 month ago

TechEconomy Editor Peter Oluka Joins NiRA Board

Peter Oluka (@peterolukai), the Editor of TechEconomy has joined the Nigeria Internet Registration Association (NiRA) Executive Board of Directors (EBoD). Peter, a multi-award...
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Appointments1 month ago

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Simon Mizrahi AfDB Appoints Simon Mizrahi Vice President for Technology and Corporate Services The African Development Bank (AfDB) has appointed Simon Mizrahi, a British national, Vice President for its Technology and Corporate Services Complex, with effect from the 1st of April 2023. Before his new appointment, Mizrahi served as Acting Vice President for the complex, doubling as Director for the Bank’s Development Impact and Results Department. He is a seasoned senior executive with more than thirty years of experience in exercising strategic leadership on development operations and policies. His AfDB voyage Since joining the AfDB Mizrahi has acquired an in-depth understanding of the institution’s business needs, its operating environment, and its corporate governance. He also has extensive experience leading complex corporate reforms. In 2019, Mizrahi played a key role in the Bank’s proposal for a seventh general capital increase, which produced $115 billion in additional capital—the largest increase in its history. The same year, he elaborated the Bank’s Quality Assurance Plan and established the Operations Academy, the institution’s first formal program to train operational staff as a means of improving the quality and impact of Bank operations. Mizrahi is also responsible for promoting transparency and accountability across the African Development Bank. In 2022, Publish What You Fund, the global campaign for aid and development transparency, named the African Development Bank the most transparent development organisation in the world. It ranked its Sovereign Portfolio first out of 50 global development institutions in its Aid Transparency Index with a top score of 98.5. Prior to the AfDB Before joining the African Development Bank, Mizrahi worked at the Organisation for Economic Co-operation and Development as Deputy Head for Aid Effectiveness. He authored the Paris Declaration on Aid Effectiveness and the Accra Agenda for Action, two landmark agreements adopted by 110 countries and organizations across the world. Before this, he was a country director for Médecins du Monde in Rwanda and Nicaragua, from 1994 to 1996. Mizrahi has a deep, first- hand understanding of Africa’s development challenges. He has operated in eight African countries, and in 1994, was Head of Operations for Urgence Rwanda, a coalition of non-governmental organizations that delivered humanitarian assistance to Rwanda and Goma in the Democratic Republic of Congo, in the immediate aftermath of the genocide. Mizrahi began his professional career in the financial industry in London. Throughout his career, he has demonstrated a strong capacity for thought leadership, strategic decision-making, and delivery of bottom-line results. He has published extensively on issues central to the development agenda, especially development impact, climate change, corporate performance, and development effectiveness. Mizrahi holds a Master of Philosophy degree in politics and international relations from the University of Cambridge (1991) and a master’s degree in political science from the Institut d’Études Politiques de Paris (1990). Remarks Commenting on his appointment, Mizrahi said: “I am deeply honored that Dr Adesina has appointed me to this position. I see it as an extraordinary opportunity to contribute to the African Development Bank’s corporate priorities and promote Africa’s premier development organization.” Dr. Akinwumi A. Adesina, President of the African Development Bank Group, said: “I am pleased to appoint Mr. Simon Mizrahi into this new role of Vice President for Technology and Corporate Services Complex, where he will lead the drive to fully digitalize the Bank and deploy big data analytics, robotics, machine learning, and other IT tools. “He will drive the Bank’s Real Estate Strategy and oversee the formulation and implementation of its policies and controls on asset management and information technology systems. Simon will also ensure effective and sustained delivery of corporate services, including institutional procurement, language services, cybersecurity, and business continuity.” Simon Mizrahi AfDB Appoints Simon Mizrahi Vice President for Technology and Corporate Services The African Development Bank (AfDB) has appointed Simon Mizrahi, a British national, Vice President for its Technology and Corporate Services Complex, with effect from the 1st of April 2023. Before his new appointment, Mizrahi served as Acting Vice President for the complex, doubling as Director for the Bank’s Development Impact and Results Department. He is a seasoned senior executive with more than thirty years of experience in exercising strategic leadership on development operations and policies. His AfDB voyage Since joining the AfDB Mizrahi has acquired an in-depth understanding of the institution’s business needs, its operating environment, and its corporate governance. He also has extensive experience leading complex corporate reforms. In 2019, Mizrahi played a key role in the Bank’s proposal for a seventh general capital increase, which produced $115 billion in additional capital—the largest increase in its history. The same year, he elaborated the Bank’s Quality Assurance Plan and established the Operations Academy, the institution’s first formal program to train operational staff as a means of improving the quality and impact of Bank operations. Mizrahi is also responsible for promoting transparency and accountability across the African Development Bank. In 2022, Publish What You Fund, the global campaign for aid and development transparency, named the African Development Bank the most transparent development organisation in the world. It ranked its Sovereign Portfolio first out of 50 global development institutions in its Aid Transparency Index with a top score of 98.5. Prior to the AfDB Before joining the African Development Bank, Mizrahi worked at the Organisation for Economic Co-operation and Development as Deputy Head for Aid Effectiveness. He authored the Paris Declaration on Aid Effectiveness and the Accra Agenda for Action, two landmark agreements adopted by 110 countries and organizations across the world. Before this, he was a country director for Médecins du Monde in Rwanda and Nicaragua, from 1994 to 1996. Mizrahi has a deep, first- hand understanding of Africa’s development challenges. He has operated in eight African countries, and in 1994, was Head of Operations for Urgence Rwanda, a coalition of non-governmental organizations that delivered humanitarian assistance to Rwanda and Goma in the Democratic Republic of Congo, in the immediate aftermath of the genocide. Mizrahi began his professional career in the financial industry in London. Throughout his career, he has demonstrated a strong capacity for thought leadership, strategic decision-making, and delivery of bottom-line results. He has published extensively on issues central to the development agenda, especially development impact, climate change, corporate performance, and development effectiveness. Mizrahi holds a Master of Philosophy degree in politics and international relations from the University of Cambridge (1991) and a master’s degree in political science from the Institut d’Études Politiques de Paris (1990). Remarks Commenting on his appointment, Mizrahi said: “I am deeply honored that Dr Adesina has appointed me to this position. I see it as an extraordinary opportunity to contribute to the African Development Bank’s corporate priorities and promote Africa’s premier development organization.” Dr. Akinwumi A. Adesina, President of the African Development Bank Group, said: “I am pleased to appoint Mr. Simon Mizrahi into this new role of Vice President for Technology and Corporate Services Complex, where he will lead the drive to fully digitalize the Bank and deploy big data analytics, robotics, machine learning, and other IT tools. “He will drive the Bank’s Real Estate Strategy and oversee the formulation and implementation of its policies and controls on asset management and information technology systems. Simon will also ensure effective and sustained delivery of corporate services, including institutional procurement, language services, cybersecurity, and business continuity.”
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