Jumia’s food delivery services, Jumia Food, will cease operations in Nigeria, Kenya, Uganda, Morocco, Tunisia, Algeria, and Ivory Coast by 31 December 2023. The Chief Executive Officer of Jumia, Francis Dufay said the current market conditions and economic climate in the affected countries make the food delivery business unprofitable. “The economics are tough in this market because the costs are very high and there is plenty of competition so there is downward pressure on the...

The Central Bank of Nigeria, CBN, plans to clamp down on bank accounts with no bank verification number, BVN, and national identification number, NIN, in 2024. In a memo made available to the press last Friday, the CBN said all existing bank accounts without a linked BVN and NIN will no longer receive funds, and make withdrawals and transfers starting 1 March 2024. However, the apex bank directed that all unfunded accounts be placed on...

The Central Bank of Nigeria (CBN) has clarified that all Naira notes issued by it remain legal tender. Isa AbdulMumim, CBN’s Director of Corporate Communications Department, clarified a statement on Wednesday against the backdrop of the reported scarcity of Naira notes across some major cities in the country. He said there is sufficient cash stock in all locations across the country. AbdulMumim stated that all branches of the apex bank across the country have been...

Houston was set agog October 24-25 when the Fidelity Bank Plc. Nigeria unveiled its premier international trade and creative fair in Houston, Texas. The just concluded event called the “Fidelity International Trade & Creative Connect” (FITCC) attracted the brightest minds and industry leaders who swapped ideas, created trade/business partnerships, and navigated the ever-evolving landscape of international trade, exports, and creative connections. Among a long list of participants, partners, exhibitors, and supporters is the Academy for...

Google in partnering with the Kaduna State Government is to train 5,000 women and girls in data science, artificial intelligence, and entrepreneurial applications of digital technologies. Rabi Salisu, Kaduna State Commissioner for Human Services and Social Development disclosed this at a Roundtable on ‘Mainstreaming Girl Child Education in Kaduna State, Challenges and Policy Recommendations for Families and Government.’ The roundtable, held in Kaduna, was organized by the Kukah Centre in partnership with HJDP Church and Society....