Nigeria’s indigenous telcos seek 5-year tax holiday
Indigenous telecommunications companies in Nigeria have appealed to the Federal Government to give them tax holidays of up to five years. This, they said, would allow them to compete favourably with bigger players who had enjoyed the same benefits in the past. The operators, who made the appeal at a virtual forum on the National Policy for Promotion of Indigenous Content...
FG moves to tackle cybercrimes in Nigeria
The Federal Government is set to tackle the menace of cybercrimes in Nigeria with the development of a comprehensive National Cybersecurity Policy and Strategy. Implementation of this policy is expected to curb or reduce to the barest minimum the country’s annual loss to cybercrimes, which is estimated to be N127 billion. According to the policy document, Nigerian cyberspace is faced...
Kakao founder becomes richest man in Korea
The founder of South Korean internet giant, Kakao, Kim Beom-su, has become the richest person in the country. His emergence was bolstered by a surge in the company’s shares; it has more than doubled its price this year as people continue to live, work and play online. As of Wednesday, Kakao shares are up about 110% in 2021, adding $5.6 billion to Kim’s net worth since...
FG approves 5G internet connectivity spectrum for Nigeria
The Federal Government has approved the National Policy on Fifth Generation (5G) Network for Nigeria. Dr. Femi Adeluyi, Technical Assistant on Information Technology to the Minister of Communications and Digital Economy, Isa Pantami, made the disclosure on Wednesday in Abuja. Adeluyi said in a statement that the 5G policy implementation would take immediate effect. He explained that the national policy took a...
NITDA trains 178 young Nigerians on robotics, emerging technologies
Nigeria’s Digital literacy has received a boost with the training of 178 young Nigerians in the just concluded 10-Days Stem Bootcamp for Kids (SB4Kids) initiative. The camp which closed on Friday was organised by the National Information Technology Development Agency (NITDA) with the Director-General, Malam Kashifu Inuwa, giving an appraisal in his remarks during the closing ceremony in Abuja. He said...
Globacom launches streaming service, GloTV
Telecommunications service provider, Globacom, has said that the over 50 million subscribers on its network can now watch TV on the go through its streaming service. Launching the GloTV service in Lagos yesterday, the telecom operator said the service is accessible through Android, IOS apps, and the web. Speaking at the launch, Head of Web Sales at Glo, Ugochukwu Ibe, said...
GT Bank’s profits dip, posts N93.1bn in 6 months
Guaranty Trust Bank, now Guaranty Trust Holding Company Plc., has posted a profit before tax (PBT) of N93.1 billion for the six months ended June 30, according to the Group Chief Executive Officer of Guaranty Trust Holding, Mr. Segun Agbaje. Disclosing the company’s audited financial results for the period ended June 30, on Friday, in Lagos, Agbaje noted that the...
Zenith Bank rakes in N117.05bn profit in 6 months
Zenith Bank Plc. has posted a profit before tax (PBT) of N117.05 billion for six months ended June 30, 2021, against N114.12 billion achieved in the comparative period of 2020. This was stated in the company’s interim report signed by the Company Secretary, Mr. Micheal Otu, posted on the website of the Nigerian Exchange (NGX) Ltd. According to the result, gross...
Access Bank records N97.49bn profit in 6 months
Access Bank Plc. has posted a profit before tax (PBT) of N97.49 billion in six months as at June 30. This was stated in the bank’s interim financial statement signed by the Company Secretary, Mr. Sunday Ekwochi, posted on the website of the Nigerian Exchange (NGX) Ltd. on Thursday in Lagos. The PBT represented a growth of 31.21 per cent compared...
Nigerian investors lose N146bn on NGX
Investors net worth on the Nigerian Exchange (NGX) Ltd. dropped further by N146 billion on Friday due to losses posted by some major blue chips. Specifically, the market capitalisation lost N146 billion or 0.71 per cent to close at N20.278 trillion, from N20.424 trillion reported on Thursday. Also, the NGX All-Share Index dipped 279.55 points or 0.71 per cent, returning to...
