Approved phones for Nigeria’s market hit 1,492

…as Chinese brands maintain domination   Nigeria’s telecommunications regulator, Nigerian Communications Commission (NCC), has so far approved 1,492 mobile phones for use in the country, New Telegraph has learnt. The devices, which are of different brands and models, are those that have been tested and found to meet the applicable type approval standards required to allow them to be sold to consumers in Nigeria. The regulatory approval was to ensure phones and devices being used in the country are of quality standard. However, despite the regulatory efforts, investigations revealed that…

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Infinix Mobility excites couples at Valentine

As part of initiatives aimed at giving back to the society, smartphone company, Infinix Mobility, recently treated five couples to a memorable Valentine celebration. According to a statement from the company, five couples were rewarded with N300, 000 worth of gifts for each “Love with Infinix” campaign. “This year, Infinix decided to step into the mix and add a little spark to the season, by helping couples create memories that would be cherished forever. To give couples an awesome valentine’s treat, Infinix partnered with the world’s premier jewelry and accessory…

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Winners emerge in TECNO’s ‘Spark 4 Talent Hunt’

Three students have emerged as TECNO’s campus ambassadors at the grand finale of the company’s ‘Spark 4 Talent Hunt’ campaign. The youth-centric talent hunt is aimed at rewarding and empowering young Nigerians who are ardent followers of the brand. The three winners were given official tag and recognition as TECNO Spark Campus ambassador, one-year Internship with TECNO, one-year ‘pocket money,’ and one Spark 4 Phone each. The Spark 4 Talent Hunt went live in November 2019, encouraging students from across the various tertiary institutions in Nigeria to post an image…

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MAN: Mixed fortune trails 2019 manufacturing sector performance

The Manufacturers Association of Nigeria (MAN) has described the country’s manufacturing sector performance in the year 2019 as a mixed grill as the growth of the sector oscillated between negative and positive values in the first, second and third quarters of the year. However, as the release of economic data from the National Bureau of Statistics for the fourth quarter of 2019 is being awaited, the association in its latest economic report for the 2019 fourth quarter review said available information from both Central Bank of Nigeria’s Purchasing Managers’ Index…

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NSE launches comic book to boost financial literacy

The Nigerian Stock Exchange (NSE) has published the maiden edition of StockTown, a comic book, aimed at promoting financial literacy in Nigeria. According to a statement from the exchange, StockTown makes use of illustrated characters story to educate readers of all ages about the importance of savings and investment. In its first issue, readers are introduced to Mora Johnson and her middle-class family who are experiencing financial hardship that pushes Mora to want to learn more about investment and financial independence. Commenting on the comic book, Oscar Onyema, Chief Executive…

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‘Diageo’s $180m commitment’ll reduce impact on environment’

Guinness Nigeria Plc  has said that Diageo’s newly announced $180 million to bring new solar, biomass and water recovery to seven sub- Saharan markets including Guinness Nigeria will reduce impact on the environment. The Managing Director/CEO, Guinness Nigeria Plc, Baker Magunda, who stated at the company’s 2018 and 2019 Sustainability Report, said the development would contribute to ensuring “our areas of operation in Nigeria more towards a more renewable future, minimize our impact on the environment and create employment opportunities. “Through these initiatives, we hope to also encourage our key…

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‘Long-dated FX futures’ll boost FDIs’

Central Bank of Nigeria

The acting Managing Director, Coronation MB, Banjo Adegbohungbe, has said that long-dated FX Futures, extending the maximum contract tenor to up to five years introduced by the Central Bank of Nigeria (CBN) and the FMDQ Group will boost the growth of foreign direct investments in the country. Speaking at a breakfast session and its 2020 outlook titled, ‘Re-risking the financial system’ Adegbohungbe said the introduction of the Over-the-Counter – Non Deliverable Forwards (OTC-NDF) by the CBN was an opportunity for foreign direct investments to grow. He added that it was…

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World Bank pandemic bond under pressure as coronavirus spreads

A World Bank bond designed to deliver funding to help the world’s poorest countries to tackle fast-spreading diseases has lost half its value as the coronavirus outbreak in China has fanned fears that investors could face hefty losses, Reuters reported yesterday. After the 2013-2016 Ebola outbreak that ravaged Sierra Leone, Guinea and Liberia and killed at least 11,300 people, the World Bank launched bond and insurance instruments under its Pandemic Emergency Financing umbrella in 2017 to establish a mechanism that would speedily deploy funds where needed. However, the World Bank’s two…

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CBN licensed 59 BDCs in Q4’19

Central Bank of Nigeria

A total of 59 new Bureaux De Change (BDCs) were licensed by the Central Bank of Nigeria (CBN) in the fourth quarter of last year, latest data released by the apex bank has shown. According to the updated list of licensed BDCs posted on the CBN’s website yesterday, the  total number of companies  in the country stood at 5,156 as at December 31, 2019. The previous list published by the regulator indicated that the number of licensed BDCs as at September 30,  2019  was 5,097. This means that the CBN licensed…

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‘5m customers use Kenya’s Absa Bank mobile banking app’

Kenya’s Absa Bank has moved most of its customers onto its mobile banking platform, which it sees as a major driver for future growth, chief executive Jeremy Awori said on Wednesday. When the bank first launched its digital app known as “Timiza” — Kiswahili for “Achieve” — in March 2018, it attracted 300,000 customers. By the end of the year it had 3 million users, with lending standing at 10 billion Kenyan shillings ($98.91 million). “We have seen our app grow in leaps and bounds. We are now roughly under…

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