Business Archives - Page 37 of 46

Apr

16

2023

Meet Emmanuel Njoku, 21-year old drop out and founder of Lazerpay

Business, Economy, Education, LifestyleEconomy, Education, Lifestyle, Metro

One of the hottest topics among netizens in recent weeks is the shutdown of Lazerpay, a web3 and crypto payment company, that was transforming crypto payment experiences for individuals and businesses across the world. The CEO and co-founder of Lazerpay is Emmanuel Njoku, an audacious young man, who dropped out of school at age 19 to fund the startup. Emmanuel Njoku was born and raised in Port Harcourt, Rivers State Nigeria. He would recount that his family was pretty competitive and so, he always put extra effort into his studies. Born to an engineer father and a school teacher mother,…

Apr

12

2023

By Amos Oge Kalu

National assembly proposes 10-year jail term for Ponzi scheme promoters

Business, Economy, Metro, PoliticsBusiness, Economy, House of reps, Nigeria, Politics

The National Assembly has passed the Investment and Securities Bill, which includes provisions for possible jail sentences for those who promote Ponzi schemes in Nigeria. The Investment and Securities Service Bill 2023 finally scaled through the final hurdle of the National Assembly when the Senate passed it on March 29. The bill, which is expected to aid the functioning of the capital market and facilitate the ongoing economic diversification in the country, had been passed by the House of Representatives in December. It is only awaiting presidential assent to become law. At the plenary, the Senate President, Ahmad Lawan, stated…

Apr

10

2023

By Amos Oge Kalu

FG bars online banks from accessing customers’ photos, contacts

Business, Economy, Lifestyle, MetroBusiness, Economy, Metro, Nigeria

Loan apps on Play Store will lose their ability to access their users’ contacts or photos from May 31, 2023. This came as the Federal Government said it would enforce the latest policy by Google, saying the action was consistent with the Nigerian authorities’ move to curtail the invasion of customers’ privacy by loan app firms. The Federal Government had in recent time taken major decisions aimed at tackling the violation of customers’ privacy by loan apps. Notably, the Federal Competition and Consumer Protection Commission had recently registered 170 loan apps out of the 200 operating in the country. Google,…

Apr

02

2023

By Amos Oge Kalu

Nigeria to save $1.3bn by eliminating substandard products – UN

Business, Economy, NewsBusiness, Economy, Metro, Nigeria, Opinion, United Nations

The United Nations Environment Programme has said Nigeria will save about $1.3 billion yearly if it stops using air conditioners and refrigerators with energy efficiency ratios below globally acceptable Minimum Energy Performance Standards. It disclosed this in its latest report titled, “Project Overview of Scaling-Up Energy-Efficient and Climate-Friendly Cooling in Nigeria’s Nationally Determined Contribution Revision.” In the report made available on Friday by the Energy Commission of Nigeria, the Programme Management Officer, UNEP, Brian Holuj, explained that attaining Nigeria’s NDC concerning energy efficiency would significantly impact the country’s energy savings. The development comes on the heels of the increased number…

Mar

28

2023

By Amos Oge Kalu

Fire guts five-storey building in Balogun Market, Lagos

Business, Economy, MetroBusiness, Economy, Lagos, Metro

Fire on Tuesday gutted a section of a five-storey In Balogun Market, Lagos building. The fire which started in the early hours of Tuesday led to the loss of properties worth millions of naira. Confirming the incident, the Lagos State Fire and Rescue Service in a statement signed by the Director Adeseye Margaret said the fire was under control. The statement said, “Fire at Balogun under control. “The fire is however under control as mitigation is on to limit its spread update to follow as the situation unfolds.”