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Moniepoint raises $90m, targets UK-Nigeria remittance market
Nigerian fintech firm Moniepoint has raised $90 million in new funding as it expands into the UK remittance market, completing a $200 million Series C round that values the company at about $1 billion. The new capital will help the…
Nigeria’s exit from FATF Grey List indicates response, not progress
Sopuruchi Onwuka At this time of prevailing foreign exchange crunch and resilient inflationary trends, Nigeria’s removal from the Financial Action Task Force (FATF) “grey list” could become a crucial catalyst for stabilizing the economy, lowering inflation, and reopening access to…
NCDMB, development banks update players on NCDF finance cycle
The Nigerian Content Development and Monitoring Board (NCDMB) is engaging players in the Nigerian petroleum sector with clear explanations on enhanced innovations in the management of the Nigerian Content Development Fund (NCDF) designated for facilitating project delivery in the local…
JPMorgan Chase invests $1.5 Trn in Strategic Sectors
Largest bank in the U.S., JPMorgan Chase, announced that it would invest $1.5 trillion over the next decade in industries related to U.S. national security. The investment, according to the company, will target companies in strategic sectors, including rare earth…
Afriland Towers: United Capital plans memorial service for 6 workers
United Capital Plc is planning memorial service to honour the six members of its staff who died in the Afriland Towers in Lagos last week. The tower houses offices of the United Bank for Africa, the Federal Inland Revenue Service,…
Mrs Ogbue canvasses hybrid funding support for upstream upstarts
* AFREC charges African players to align with ESG Sopuruchi Onwuka Pioneer President of Women in Energy Network (WIEN), Mrs Fumni Ogbue, has called for mobilization of dormant private funds in the country to finance upstream petroleum industry projects. She…
Kachikwu canvasses $1bn pan-industry NCI Fund
Recommends timeline for field development projects Sopuruchi Onwuka Former Minister of State for Petroleum Resources, Prof. Emmanuel Ibe Kachikwu, has canvassed that the $450 million Nigerian Content Intervention Fund (NCI Fund) be increased to $1.0 billion, to cover the funding…
Covert volunteers uncover decoy terror funding schemes
Using facial recognition software, the team tracked down footage on social media showing the recruiter calling on Gazan youth to become “Soldiers of the next October 7.” This past July, a cleric from Gaza with 1 million followers on TikTok…
Panic in Corporate Centrum as Sahara Group battles insolvency
Sopuruchi Onwuka The energy business empire of corporate mogul, Kola Adesina, is battling tough liquidity challenge that threatens its continued participation in the debt ridden national gas-to-power programme. Leaders and top management executives are all pulling strings to stave off…
External Reserves grows to $38.5bn as Tinubu borrows $21bn
Sopuruchi Onwuka Enhanced inflow of foreign exchange from diverse sources has helped raise the Nigerian external reserves to $38.5 billion at the weekend, leading to bearish sentiments at the foreign exchange market where the value of the local Naira has…
