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Power for All, an international agency canvassing for access to electricity in Nigeria, has advocated the removal of payment of tariff  on  assured renewable energy  technologies’ equipment  imported into the country. The Campaign Director of the agency in Nigeria, Ify Malo, made the call in an interview with the News Agency of Nigeria (NAN) in Abuja last December.

The true cost of Galaxy Note 7 fiasco to Samsung’s bottom line has been starkly illustrated in its latest financial results, which show a 30 percent fall in operating profit as well as an equally painful fall in revenue.

Private equity firm BC Partners is reportedly the frontrunner to buy US communications firm CenturyLink’s data centre network.

The European Investment Bank (EIB) and United Bank for Africa (UBA) have agreed to a new N20.89billion (60 million euro) lending programme to support private sector-driven growth across Nigeria. The DEAL is said to represent the EIB’s largest loan to UBA, and will allow UBA provide longer-term loans than currently available, to private companies in the country.

Bank of America to collaborate with Microsoft on Blockchain to ‘transform’ financial transactions. The Microsoft Azure announcements keep coming after the Bank of America agreed to collaborate on blockchain technology to “fuel the transformation of trade finance transacting”.

Google’s driverless car has been involved in yet another crash, though the blame is laid firmly at the fender of another human-driven car.                                        

Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA) Dr Dakuku Peterside (left) and Hajia Lami Tumaka during familiarisation tour of the Western Zone of the agency in Lagos. CUSTOMS agents have set agenda for the boards of the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administartion and Safety Agency (NIMASA): they should revamp the sector to increase revenue generation.

The Redmond company is expected to replace the Lumia smartphones with a Surface-branded Windows 10 Mobile phone. Microsoft is looking to kill-off its under-performing Lumia smartphone line and is expected to replace it with a new Surface Phone brand.

The social networking giant has tweaked its chatbot platform with a suite of features. Facebook is rolling out the ability to pay for products directly within its Messenger service on Android and iOS smartphones, allowing people to make purchase without leaving the chat app.

The Federal Government, yesterday, announced the approval of four of the five Aje Oil wells, discovered in Lagos State and disclosed plans to commence disbursement of 13 per cent derivation fund to the state as an oil producing entity. Chairman, Indices and Disbursement Committee of the Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, Alhaji Aliyu Mohammed, disclosed this during a courtesy visit to Governor Akinwunmi Ambode in Alausa, Ikeja. The visit of RMFAC was sequel to a letter sent by Governor Ambode to President Muhammadu Buhari a few months ago, seeking the inclusion of Lagos on the list of oil producing states to qualify it for payment of 13 per cent derivation fund. Mohammed noted that the request of the governor prompted the set-up of an Inter-Agency Technical Committee, comprising RMAFC, DPR, Office of the Surveyor-General of the Federation and the National Boundary Commission, to determine the location of Aje Oil Wells. He explained that the committee...

The Kenya Ports Authority has said the expansion of the port of Mombasa will make it better for business, in spite of rising competition in the region. Ahead of the infrastructure summit Monday morning at State House in Nairobi, KPA Managing Director Catherine Mturi-Wairi told journalists on Friday that the construction of the second container terminal allows it to stay ahead of the competition and address delays long associated with East Africa’s largest port.

The Association of Nigerian Licensed Customs Agents (ANLCA), has threatened to shut down the nation’s ports over 43 per cent hike in customs duty. President of the association, Alhaji Olayiwola Shittu, told the News Agency of Nigeria (NAN) on Thursday in Lagos. Shittu said that the association condemned in totality the monetary policy that led to the collapse of the maritime industry. He frowned at the import regime of fixing the foreign exchange rate at N331 to the dollar. “There should have been a deliberate effort to save Nigerian importers from the debilitating effect of fixing the foreign exchange in calculating the import duty, “ Shittu said. He noted that it was condemnable to force Nigerians to open form ‘M’ for imports at N197 to the dollar, and now forced to pay N331 after the goods had been shipped. According to Shittu, this is very devastating and uncalled for. “Governments all over the world make conscious efforts to protect the interest of their citizens, ‘’h...

A Florida-based company won U.S. government permission on Wednesday to send a robotic lander to the moon next year, the firm's founder said, marking the first time the United States has cleared a private space mission to fly beyond Earth’s orbit.

The Central Bank of Nigeria (CBN) yesterday stopped hundreds of global remittance companies from operating in the country. The affected firms, The Nation learnt, will no longer receive nor disburse the estimated $21 billion per annum collections from Nigerians in the Diaspora to local recipients.

The Executive Vice Chairman, Nigerian Communications Commission (NCC),  Prof. Umar  Danbatta, yesterday lamented that multiple taxation and regulation, constraints in securing approval for right of way (RoW) and others were taking tolls on the quality of telecoms services across the country.

The Central Bank of Nigeria, CBN, yesterday, directed banks operating in the country to accept deposit of cheques into savings account and to begin to embed Bank Verification Number, BVN in payment cards. The CBN, in a circular signed by Director, Banking & Payments System Department, Dipo Fatokun, dated July 28, 2016, sent to all banks  and financial institutions  and released, yesterday,  stated: “The CBN in furtherance of its efforts at strengthening  the Nigerian payments system  hereby issues the following directives:

The Federal Government  has taken over the ownership of the Ajaokuta steel plant. Also, the government yesterday took a major step in its plan to revitalise the steel sector as it signed a renegotiated concession agreement with Global Steel Holdings Limited for the Nigerian Iron Ore Mining Company (NIOMCO), Itakpe.

In one of Oracle’s largest ever acquisitions, it will position ERP seller NetSuite in a complimentary role. Oracle has bought cloud ERP provider NetSuite for $9.3 billion (£7bn), with Oracle claiming the two companies will “coexist” in the marketplace “forever”.

Kenya overtook South Africa to become the biggest investor in other African countries in terms of the number of projects in 2015. Kenya invested in 36 projects last year in other parts of the continent against South Africa’s 33, a new study by financial consulting firm Ernst & Young shows.

Niger State government has informed the President Muhammadu Buhari-led Federal Government of large quantity of crude oil in the Bida Basin awaiting exploration.