Joseph Chibueze

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African startups record lower inflow, raise $50m in March

1 month ago | guardian.ng | Adeyemi Adepetun |Joseph Chibueze

African startups might have ended quarter one with an abysmal performance, having witnessed a sharp decline in fundraising in March. According to a report by Africa: The Big Deal, African startups could only raise $50 million last month, the lowest monthly inflow since late 2020. In January, the startups raised almost $300 million in funding, and in February, they secured $119 million.
FG to raise N300bn from sovereign Sukuk

1 month ago | guardian.ng | Joseph Chibueze |Jimisayo Opanuga

Buoyed by the success it achieved with the last six series of Sukuk, the Federal Government has announced that it is set to raise a fresh N300 billion through the upcoming Series VII Sukuk. The Director-General of the Debt Management Office (DMO), Ms. Patience Oniha, who disclosed this at the All Parties Meeting for the Series VII Sovereign Sukuk in Lagos on Wednesday, also informed that the government raised N1.092 trillion from the last six series of Sukuk.
Regional digital payment economy to hit $1.5tr in five years

1 month ago | guardian.ng | Adeyemi Adepetun |Joseph Chibueze

Digital payment within the African ecosystem is projected to grow astronomically, hitting $1.5 trillion by 2030. This is based on the outcome of a Mastercard-commissioned report handled by Genesis Analytics. Mastercard said it is committed to the continent’s digital growth through strategic investments, public-private partnerships, and innovation initiatives that drive financial health and economic growth.
Digital payments in Africa to hit $1.5tr by 2030 - Report

1 month ago | guardian.ng | Joseph Chibueze |Jimisayo Opanuga

A new report by Genesis Analytics says Africa’s digital payments economy is expected to reach $1.5 trillion by 2030. The report states that the continent’s digital transformation is underpinned by rapid advancements in internet penetration and financial inclusion—two of the fastest-growing enablers of digital payments across Africa.
Statutory revenue rises by N622.1b as FG, states, LGAs share N1.70tr

2 months ago | guardian.ng | Owede Agbajileke |Joseph Chibueze

EU pledges to strengthen LG polls as DAI launches EU-funded study of SIECs Nigeria’s gross statutory revenue rose by N622.125 billion to N1.848 trillion in January 2025 from the N1.226 trillion received in December 2024. This was announced by the Federation Accounts Allocation Committee (FAAC) at the end of its February 2025 meeting in Abuja, yesterday.
NBS unveils new inflation template, reduces food weight to 40%

2 months ago | guardian.ng | Gbenga Akinfenwa |Joseph Chibueze

• CPPE indifferent over inflation rate decline, warns Nigerians The National Bureau of Statistics (NBS), yesterday, released the long-awaited rebased Consumer Price Index (CPI), reducing the weight of food composite by over 22 per cent.
DMO offers two FGN bonds at 17.799%, 18.799%

Feb 3, 2025 | guardian.ng | Joseph Chibueze |Olayide Oluwafunmilayo Soaga

The Federal Government, through the Debt Management Office (DMO), has opened offers for subscription to two Federal Government of Nigeria (FGN) savings bonds for February 2025 at interest rates of 17.799% and 18.799%, respectively. The DMO, in a statement on Monday in Abuja, said the first offer is a two-year FGN savings bond due on February 12, 2027, at an interest rate of 17.799% per annum.
Audit Report: CSO urges NASS to probe N3.5tr unaccounted for by MDAs

Jan 29, 2025 | guardian.ng | Joseph Chibueze |Jimisayo Opanuga

Paradigm Leadership Support Initiative (PLSI), a non-profit organization with a mission to advance accountability and foster good governance, has appealed to the Public Accounts Committee (PAC) of the National Assembly to thoroughly investigate the N3.5 trillion unaccounted for by ministries, departments, and agencies (MDAs) of the Federal Government.
We’re not rebasing GDP to satisfy any interest - NBS

Jan 27, 2025 | guardian.ng | Joseph Chibueze |Oluyemi Ogunseyin

The National Bureau of Statistics (NBS) has explained that the plan to rebase the country’s gross domestic product (GDP) and the consumer price index (CPI) is not to satisfy any interest but to ensure that economic indicators accurately reflect the evolving structure of the country’s economy.
States, FCT invest over $834m in NG-CARES, impact 15m poor Nigerians

Jan 26, 2025 | guardian.ng | Joseph Chibueze |Jimisayo Opanuga

The 36 states of the federation and the Federal Capital Territory (FCT), Abuja, have so far invested the sum of $834,597,246.25 in the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) programme. The programme, initiated in 2021, has positively impacted the lives and livelihoods of over 15 million poor and vulnerable Nigerians.