Author: Newsjaunts

Standard Bank is participating in the China International Import Expo (CIIE) this year for the third time, as it proves to be an invaluable platform for exposing African client businesses to opportunities in the world’s largest consumer markets. The third rendition of CIIE, to be held between November 5 and 10 in Shanghai, is one of the few international conferences to physically take place this year following the outbreak of COVID-19. “This sends a strong signal that China’s recovery is underway and reaffirms its position of open trade, which benefits the African continent, and is critical at a time when…

The Ogun State Ministry of Education, Science and Technology has found it expedient to clarify earlier statement on schools’ resumption, stating that the existing schedule remains. For the avoidance of doubt, all government primary and secondary schools will not resume full school hours until further notice. Rather all public schools will continue to have their classes in phases to avoid overcrowding and to help curtail the spread of the corona virus. A statement by the Hon. Commissioner for Education, Science and Technology, Prof Abayomi Arigbabu, said that while the staggered school system would be maintained, “additional hour has been added…

Nigeria’s leading innovative Bank, Wema Bank has shortlisted ten finalists to participate in the bootcamp for its 2020 Hackaholics (2.0) Accelerator Program slated for 16th November to 11th December, 2020. The finalists pooled from over five hundred applications were revealed during the two-day pitch program which took place virtually on Friday 30th and Saturday 31st of October 2020. The pitch program commenced with an opening remark by the Managing Director, Wema Bank, Mr Ademola Adebise, who commended the start-ups for their efforts and willingness to contribute to the growth of the Nigerian society. He said “We are very proud to…

As business conditions steadily improve and business confidence remains positive, Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has urged Nigerians to maximise savings and investment opportunities available to them. The foremost financial institution has advised customers to be deliberate in achieving their savings and investment goals in order to access rewarding returns. While quoting the recent Purchasing Managers’ Index (PMI) report released by the Bank, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, said that the moderate improvement of business activities after easing of restrictions related to the coronavirus, will enable income earners to confidently achieve…

Verve, a leading payments technology company and card scheme in Africa, on Wednesday, October 28, 2020 announced a partnership with dLocal, the leading cross-border payment platform connecting global merchants to emerging markets, enabling the company add Verve’s 47 million cards and tokens on its payment platform. With the partnership in place, dLocal’s 450+ global online merchants will now be able to accept one of the most popular payment methods in Africa’s largest market, Nigeria. Verve cards and tokens predominantly issued and accepted by commercial banks and other financial institutions in Nigeria are the most recognised gateway to payments for 180 million-plus…

In furtherance of efforts to stem the tide of protein deficiency in the country, especially in the light of the negative impact of the coronavirus pandemic, Nigerians have been advised to complement their meals with protein food sources.   Beatrice Oganah (PhD), a nutritionist and Chief Lecturer at the Adeniran Ogunsanya College of Education, Lagos, who made this call, noted that the major cause of protein deficiency in humans is inadequate consumption of protein in meals. In Nigeria, this is further worsened by the way the family diet is usually plated. According to Dr. Oganah, “In Nigeria, carbohydrates and other food nutrients on…

High-flying video conferencing service Zoom, which has seen skyrocketing demand during the coronavirus pandemic, is now worth more than ExxonMobil, one of the world’s largest oil and gas companies. As of 2:30 p.m. ET, Zoom sported a market valuation of $139 billion, compared to Exxon’s $138.9 billion. Zoom began the year with a market cap of $19 billion. While Zoom posted $1.35 billion in revenue over the past 12 months, Exxon, by comparison, posted $213.8 billion in revenue during that time period. Exxon announced on Thursday that it would lay off 1,900 U.S. employees, the latest effort to reduce costs…

Last week will go down as one of the most challenging weeks, if not the most challenging, Nigeria has faced in 2020. What started out weeks before as very well-organised peaceful protests by young Nigerians campaigning to #EndSARS, was supplanted by hoodlums engaging in wanton looting, arson and destruction of public and private properties across many states at an unprecedented scale. By the end of the week, many lives had been lost, many properties and businesses completely destroyed and Nigeria has been left reeling from a shock that dwarfs any the country felt even at the peak of the COVID-19…

The power sector has recorded yet another national peak generation of 5,520.40MW on 30th October, 2020 at 9.15pm, surpassing the previous 5.459MW recorded on 28th October, 2020 by 60.90MW. The General Manager, Public Affairs of the Transmission Company of Nigeria (TCN), Ndidi Mbah on Saturday revealed the development in a statement. According to her, te new national peak is a result of continued collaboration among players and the gradual increase in capacity in the power sector. “On her part, with the current capacity of 8,100MW, TCN seamlessly transmitted the new peak at a frequency of 50.11Hz. through the nations grid.…

United States forces have rescued an American taken hostage in Nigeria, about four days after. Philip Walton, 27, was seized by armed men on October 26. Walton was moved to northern Nigeria where he was held. The Pentagon has confirmed that the operation was executed on Saturday. “U.S. forces conducted a hostage rescue operation during the early hours of 31 October in Northern Nigeria to recover an American citizen held hostage by a group of armed men. “This American citizen is safe and is now in the care of the U.S. Department of State. No U.S military personnel were injured…