Guaranty Trust Bank Plc has grown its total deposit for the first quarter ended March 31, 2021 (Q1’21) to N3.717 trillion, representing a 3.0 per cent increase compared to N3.611 trillion recorded in Q1’20. The financial report of the bank for the period released in the Nigerian Exchange Limited, however, showed that the bank’s profit before tax dropped by 7.8 per cent to N53.7 billion from N58.2 billion recorded in the corresponding period in Q1’20. The bank’s Capital Adequacy Ratio (CAR) remained very strong, closing at 26.1 per cent, while asset quality was sustained as the Non-Performing Loan (NPL) ratio…
Author: DigitalTimesNG
The value of electronic payment transactions in Nigeria rose year-on-year (YoY) by 325 per cent to N704.04 trillion in 2020 from N165.8 trillion in 2019. This is just as the volume of e-payment transactions rose YoY by 142 per cent to 7.16 billion in 2020 from 2.96 billion in 2019. The development appears to have been spurred by the COVID-19 environment which compelled less physical interaction in business and other relationships in 2020. Data from the National Bureau of Statistics (NBS) titled, ‘‘Selected Banking Sector Report’’, further showed that the value of Non-Performing Loans (NPLs) ticked up by 16 per…
Smile Nigeria has again introduced three innovative products that are bound to delight customers as a way of living up to its fame as a game-changer. The latest products developed are the trio of 15GB, 35GB, and 70GB, all of which have 365 days of validity. The 15GB comes at an attractive price of N9,000; 35GB is on sale for N19,000, while 70GB is only N32,000. Smile Nigeria announced through a statement that the uniqueness of these latest data plan additions to the 365 product range by Smile is in its long-lasting (full-year) validity period. The validity period for most…
Africa’s leading financial and human capital technology powerhouse, SystemSpecs, has revealed the list of inspiring personalities who will serve as judges in this year’s edition of its annual Children’s Day Essay Competition. They include Bayo Adekanmbi, MTN Nigeria’s Chief Transformation Officer; Jumoke Lawoyin, techpreneur and Chief Executive Officer at Lucy.ng; and Emeka Okoye, Chief Semantic Architect and Knowledge Engineer at Cymantiks Nigeria. The submission of entries into the essay competition has been extended till April 30th, 2021 in response to requests by schools and students affected by the irregular school terms regime across Nigeria to enable them to participate in…
By Elvis EROMOSELE A week is a week. This is almost true in every part of the world regardless of the season. Every week is also unique. The activities, the happenings and the stories define each week. This week has been epoch-making in every sense. This week, former Minneapolis police officer Derek Chauvin was found guilty of the death of George Floyd. The verdict was unanimous. He was caught on camera kneeling on Floyd’s neck for over 9mins. George in pleading for his life kept saying “I can’t breathe.” After the verdict, Philonise Floyd, George’s brother said that he’s “able…
The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, has commissioned the Emergency Communication Centres (ECCs) established by the Nigerian Communications Commission (NCC) in Ogun and Enugu states. The two NCC projects were part of the seven projects inaugurated by the Minister during the virtual commissioning of batch nine of digital economy projects for a Digital Nigeria which took place at the Communications & Digital Economy Complex, Mbora, Abuja on Friday, April 23, 2021. The ECCs are deliberate projects embarked upon by the Commission pursuant to its mandates, enshrined in the Nigerian Communications Act (NCA) 2003, to…
By Folashade Blessing Olugbogi The creation of powerful apps and the growing need for multi-device experiences have completely altered how people apply technology in today’s digital environment. Designing for a single platform, which was once customary, is no longer feasible. On wearables, smartphones, PCs, smart TVs, and even on upcoming platforms like voice assistants, AR/VR headsets, and devices, consumers desire smooth, integrated experiences. The finest illustration of this change is found in ecosystems known as “Super Apps,” which combine multiple services into a single application. Platforms like WeChat, Grab, Gojek, and Alipay have completely transformed digital convenience by providing everything…
Tecno Mobil, a Chinese smartphone brand has bested Korean giant, Samsung for handset sales in Africa in 2020. Counterpoint Research’s Market Monitor service announced this week that the Transsion Holdings-owned brand’s launch of handset models in the affordable segment and continued market spending has allowed it to make significant inroads on the continent. Tecno Mobile managed to achieve this despite a 6.7% year on year fall in Africa’s smartphone shipments in 2020 due to the Covid-19 pandemic. The International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker had already placed the company first in Africa for Q1 to Q3 last…
Thousands of e-cab drivers spread across Lagos State have embarked on strike action since Monday 19th April 2021, which has in turn, affected people’s mobility in getting to their respective places of work and destinations. The e-cab drivers are lamenting poor conditions of services by their coordinating body, Uber and Bolt Nigeria, according to a report by The Source. The drivers in enumerating their demands stated that they want proper profiling of all drivers patronizing the services, upward review of the fares to meet the current economic reality, review of all accounts blocked unjustifiably, adequate welfare packages for drivers and…
Bitzlato (BZ), the latest P2P Crypto Exchange to enter the African market, has added Lemonade Finance, a borderless payment platform for Africa as a payment method to its platform. Lemonade Finance provides a 100% digital payment experience for Africans to seamlessly participate in the global economy from anywhere in the world without any hassle or regardless of where they are from. The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost. Users in Nigeria will now be able to send Nigerian Naira (NGN) to MPESA at 0%…