Finance
South African Luno Users to Earn Interest on Bitcoin and Ethereum
South African-founded Luno will let customers earn interest on Bitcoin, Ethereum, and USDC – allowing users to earn passive income on their cryptocurrencies. These cryptos are now available in the platforms savings wallet. Users can expect up to 4% interest per annum on Ethereum and 7.6% per annum on USDC. The interest will be earned and paid in cryptocurrency. “Luno research last year showed that over a third of those surveyed (35%) were not earning any interest on their traditional cash savings at all, so growing savings options and making saving simple and accessible is a priority for us,” says Luno Africa GM, Marius Reitz. /* custom css */ .tdi_3_5e5.td-a-rec-img{ text-align: left; }.tdi_3_5e5.td-a-rec-img img{ margin: 0 auto 0 0; } “The same research from last year found 54% are not e...
Ukheshe and Infobip Launch the First WhatsApp Payment Gateway in South Africa
Ukheshe has partnered with Infobip to launch South Africa’s first WhatsApp payment gateway which allows Telkom customers to send money to anyone with a mobile number quickly and securely with no need for another app or any additional software. The project and collaboration with Infobip forms part of Ukheshe’s objective of expanding its international reach as a solution-driven B2B provider of digital-first payment solutions that enable banks, telcos and fintechs to provide banking and payment services to their customers through a solution called ‘Chat Banking’. “We are thrilled that through various working associations we are able to assist organisations to address financial literacy and inclusion. The chat banking solution empowers end customers by giving them access to the Internet, ...
Ondo governor assigns portfolios to new commissioners
Governor Oluwarotimi Akeredolu of Ondo State has assigned portfolios to the four new commissioners sworn in on Monday. Richard Olatunde, Chief Press Secretary to the Governor, in a statement made available to newsmen in Akure on Monday, said the governor urged the commissioners to commence their duties immediately. “The commissioners and their portfolios are as follows: Mr Charles Titiloye, Attorney-General and Commissioner for Justice; and Mr Wale Akinterinwa, Commissioner for Finance. “Others are, Mr Donald Ojogo, Commissioner for Information and Orientation; and Raimi Aminu, Commissioner for Works and Infrastructure,” he said. Olatunde said the governor wished them well in the discharge of their duties. Get more stories like this on Twitter You Deserve to Make Money Even When you are lo...
Osun government condemns killing of family of six by gunmen
The Osun Government has condemned the killings of six family members at Wasinmi in Irewole Local Government Area of the state by unknown gunmen. Newsmen report that the Police Command in the state had confirmed the killings which took place on Saturday night. Mr Benedict Alabi, the state Deputy Governor, who paid a condolence visit to the bereaved family on Sunday, described the killings as disheartening and unfortunate. Alabi, who was received by scores of family members of the deceased and some leaders in the community, described the incident as a case of brutal assassination. The deputy governor assured the community that the perpetrators would be brought to book in no distant time. He added that the state government had ordered the security agencies in the state to fish out the perpetr...
NIRSAL partners NASENI to create 110,000 jobs in agric sector
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has entered into partnership with the National Agency for Science and Engineering Infrastructure (NASENI) with a view to creating over 110,000 jobs in the nation’s agricultural value chain. NIRSAL said in a statement in Abuja Friday that the move is in “continuation of its mandate of providing end-to-end solutions aimed at fixing breakages along the Agricultural Value Chains (AVC) in Nigeria”. According to the statement, NIRSAL has engaged NASENI as its technical collaborative partner for the conceptualization, design, development, deployment, implementation and execution of various schemes/projects under the NIRSAL-NASENI Comprehensive Tractor Recovery Scheme, the NIRSAL Climate-Smart Modular Geo-Coopera...
PDP governors inaugurate finance, legal affairs, legislative liaison committees
File Photo Governors of the Peoples Democratic Party have inaugurated three committees of the forum, namely Finance, Legal Affairs and Legislative Liaison. This was one of the outcomes of the meeting of the forum held Thursday at the Conference Hall, Sokoto State Governor’s Lodge, Asokoro, Abuja. A communiqué issued at the end of the meeting and signed by the Chairman of the Forum, Governor Aminu Tambuwal of Sokoto State says the Finance Committee is chaired by Abia Governor Okezie Ikpeazu and has as members Gov. Nyesom Wike of Rivers, Gov. Ifeanyi Okowa of Delta, Gov. Seyi Makinde of Oyo, Gov. Ahmadu Fintiri of Adamawa, Gov. Godwin Obaseki of Edo and Gov. Udom Emmanuel of Akwa Ibom. The Legislative Liaison Committee has Gov. Bala Mohammed of Bauchi as chairman, while Gov. Okowa, Gov Ifean...
DMO: Nigerian roads financed with Sukuk not repaying debt as planned
File Photo The Debt Management Office (DMO) has decried the country’s debt service to revenue ratio, describing it as a major issue of concern. Patience Oniha, the Director-General of DMO, said this in Abuja on Thursday at the fifth Budget Seminar (webinar) organised by the Securities and Exchange Commission (SEC). The theme of the budget seminar was, “Financing Nigeria’s Budget and Infrastructure Deficit through the Capital Market.” Oniha stressed the need for infrastructure built with borrowed funds to generate revenue to service the debts. According to her, “We have done the Sukuk, for instance, but the government is the one servicing the debt of those Sukuk. “They (the debts) are not being serviced with revenue from those sources (infrastructure). “I think that when we are talking abou...
EFCC arraigns three FIRS directors, six other officers for N4.5 billion fraud
The Economic and Financial Crimes Commission, EFCC on Thursday, arraigned Peter Hena, former Coordinating Director of Federal Inland Revenue Service, FIRS and eight other officers of the agency before Justice Ijeoma Ojukwu of a Federal High Court sitting in Abuja. The others are Mohammed Bello Auta (Director of Finance), Amina Sidi (Finance and Account department), Umar Aliyu Aduka (Internal Audit), Mbura Mustapha (Deputy Manager), Obi Okeke Malachy (Services Group), Obaje Napoleon Adofu (Head of Budget), Udo-Inyang Effiong Alfred (Officer II) and Benjamin Jiya (Assistant Director) . They were docked on a 42- count charge bordering on corruption, fraud and criminal misappropriation of funds to the tune of N4,558,160,676.9 ( Four Billion, Five Hundred and Fifty-eight Million, One Hundred an...
Huawei and MTN South Africa Launch a New and Secure Payment Solution
Huawei has joined forces with MTN South Africa to launch Direct Carrier Billing (DCB) – a ‘seamless and secure’ payment method that allows users to make purchases using their airtime. For contract customers, the amount will be added to their monthly mobile phone bill, while prepaid customers will have the amount deducted directly from their available airtime. This means you can still pay for all your favourite offerings from Huawei Mobile Services without having to share your credit card details. “MTN recently reached 100 million active data customers across 21 countries in Africa and the Middle East. This shows that our customers are increasingly adopting digital offerings and we are continuously looking to meet this demand with fresh offerings that will add value to our customers,” says ...
INTERVIEW: Boosting Security on Smartphone Trading Apps
Gur Geva, CEO of iiDENTIFii The rate of banking services that are available via mobile devices is growing daily as businesses and individuals are increasingly forced to prioritise digital transformation – one such development is Shyft. To unpack the security behind this mobile forex trading solution, ITNA’s Jenna Delport chatted to Arno Von Helden, Head of Forex Solutions for Standard Bank and Gur Geva, CEO of iiDENTIFii. Here’s what transpired: Why is Shyft different from other mobile forex trading solutions? Von Helden believes Shyft is different because it offers more features than a traditional forex trading solution. “An individual can buy and sell foreign exchange 24/7. The app also effectively behaves as an offshore bank account, whereby your foreign exchange has effectively le...
Delta government heads to Supreme Court to reclaim £4.2 million James Ibori loot
The Delta State Government says it will challenge federal government’s plan to deploy the recently returned £4.2 million (around N2.2 billion) recovered from former governor, James Ibori, at the Supreme Court. The Commissioner for Information, Ehiedu Aniagwu, disclosed this on Tuesday while reacting to news of the repatriation of the funds, which the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), said would be used to complete the ongoing work on Second Niger Bridge, Abuja-Kano Road and the Lagos-Ibadan road. “We would try to get take advantage of the legal system to make the federal government correct the injustice they are about to visit on us as a state,” he said. “If they are quite sure that the funds they are about to repatriate left Delta State on ...
Zimbabwe authorises Sputnik V, Sinovac vaccines for emergency use
Zimbabwe has authorised the emergency use of four Covid-19 vaccines, including Russia’s Sputnik V and China’s Sinovac, the minister of information said on Tuesday. The southern African nation last month rolled out its Covid-19 vaccination programme after receiving a donation of 200 000 doses of shots from China National Pharmaceutical Group (Sinopharm). Last week, India announced that Zimbabwe had become the first African country to authorise the use of its Covaxin vaccine. The Medicines Control Authority of Zimbabwe has authorised the use of Sinopharm and Sinovac shots from China, Russia’s Sputnik V and India’s Covaxin, the information minister Monica Mutsvangwa said in a post-Cabinet briefing. “All Covid-19 approved vaccines will be procured through the National Vaccine Procurement Fund ...
