E-Business
Over 2,000 Programmers Enrol for FCMB Hackathon
In just one week, over 2,000 program- mers have signed up for the upcoming FCMB Hackathon, slated for October 27 to 29.
The high enrolment number shows the programme’s broad appeal among techies and confirm the commitment of First City Monument Bank and its parent company, the FCMB Group, to nurturing innovation at scale.
A partnership with Ingressive For Good, the 50-hour virtual Hackathon is set to harness the power of FCMB APIs in advancing open banking initiatives. It will unite a diverse group of tech enthusiasts to collaboratively construct proofs of concept and minimum viable products (MVPs) aimed at solving a specific, predefined challenge.
What sets the FCMB Hackathon apart is its capacity to serve as a dynamic platform for over 2,000 tech enthusiasts, including developers, engineers, students, designers, idea generators, and other stakeholders in the tech ecosystem. Together, they will craft sustainable innovations and projects to address real-world business challenges and social problems.
Participants will not only unveil their inventive concepts but will also put their technical skills to the test, fashioning digital solutions while vying for attractive rewards. The most outstanding teams will claim cash prizes and valuable items, earning recognition for their groundbreaking solutions.
The programme will foster collaboration and networking among participants, nurturing an interactive ecosystem where like-minded individuals can forge connections, exchange ideas, and mutually enrich their knowledge.
This collaborative environment is poised to yield innovative solutions and forge enduring partnerships that will benefit the Nigerian and African tech ecosystems in the long term.
Therefore, the FCMB Hackathon is set to serve as a launching pad for the next generation of tech visionaries, propelling them towards success and acclaim. It exemplifies a commitment to cultivating a vibrant culture of innovation, propelling tech-driven ideas, and creating unparalleled opportunities for the upcoming wave of tech pioneers.
E-Business
How to Save up to 5% on Your Next Gift Card Purchase on PalmPay
We’re excited to announce that purchasing gift cards in Nigeria has never been easier and more rewarding. No more difficulty, just a few taps on your phone, and you’re all set.
Exclusive Offer Alert
Whether you’re treating yourself or surprising a friend, simply log in to the PalmPay app to enjoy an exclusive 5% discount on your gift card purchase. This fantastic offer runs from July to September 2024, so don’t miss out!
Why PalmPay Gift Cards Are a Game-Changer:
- Extensive Selection: Access a wide variety of gift cards for popular platforms like iTunes, Spotify, Amazon, Google Play Store, and many more. Shopping has never been this convenient!
- Reliability: Purchase with confidence knowing that your gift card will work seamlessly. PalmPay ensures a remarkable 99.5% transaction success rate.
How to Get Your Gift Card:
It’s incredibly simple:
- Download the PalmPay App: If you haven’t already, head over to the Google Play Store or iOS Store and download the app.
- Open the App: Launch the PalmPay app on your device.
- Select Your Gift Card: Navigate to the ‘Gift Card’ section, choose your country, select the desired amount, and complete your payment.
Voila! Your gift card is ready to use.
Join the Celebration
Do you know someone who’s been having trouble getting a gift card? Spread the word and share this amazing news with them. For more details and updates, be sure to follow us on our social media channels.
E-Business
Tolaram Taps Adesuwa Ladoja as MD/CEO of Lagos Free Zone
Board of Directors of Tolaram, one of Nigeria’s leading conglomerates, has appointed Adesuwa Ladoja as the Managing Director/Chief Executive Officer of the Lagos Free Zone (LFZ) Company, one of its subsidiaries.
In a statement issued by the Board of Directors to its stakeholders, the appointment is effective July 1, 2024.
Adesuwa Ladoja takes over from Dinesh Rathi, who has been moved to the position of Group Finance Director of Tolaram.
According to the release, Ladoja brings extensive experience in infrastructure development and strategic leadership.
“She has been a key player in the development of the Lekki Deep Sea Port project, leading to its financial close in 2020, the completion of its construction in 2022 and commercial operation in 2023. Her leadership and strategic vision have been critical to the project’s success.”
Ladoja, a Lawyer, started her career in general commercial practice and litigation as an Associate at Ajumogobia & Okeke. This was followed by over a decade at KPMG Professional Services, where she specialised in Tax, Regulatory, and People Services.
She holds a Bachelor of Law degree (LL. B Hons) from Obafemi Awolowo University and a Master of Law (LL.M Hons) degree in International Business Law from King’s College, University of London.
Ladoja is a member of the Nigerian Bar Association and several other professional bodies and a notary public of the Supreme Court of Nigeria.
According to the Board, Ladoja’s multifaceted expertise will be invaluable in driving the Lagos Free Zone Company’s growth and innovation agenda.
Ladoja said: “I am honored to be given this opportunity, and I look forward to continuing the good work done by Dinesh and the team at LFZ in creating a unique industrial ecosystem which places sustainability and customer-centricity at its core.
“Lagos Free Zone with its integrated Lekki Port is the perfect illustration of what ease of doing business represents and we look forward to hosting more companies.”
Established in 2012, Lagos Free Zone is an award-winning port-based industrial zone (850 hectares) in Lagos, Nigeria, with over $2.5 billion committed FDI projects to date.
Owned and promoted by Tolaram, LFZ is located in Lekki, the sunrise development corridor in Lagos. With its vision to be the preferred industrial hub in West Africa.
E-Business
Nigeria introduces 7.5% VAT on crypto transactions
KuCoin, a leading cryptocurrency exchange, has announced it will begin collecting a 7.5 percent value-added tax (VAT) on transaction fees for its users in Nigeria.
The decision follows a recent regulatory update in the country, prompting KuCoin to introduce the VAT.
In a statement released on July 3, KuCoin confirmed that the VAT deduction will take effect from July 8. The company clarified that the 7.5 percent VAT will be applied specifically to the transaction fee, not the total amount. For example, if a user purchases $1,000 worth of Bitcoin with a 0.1 percent fee, the transaction fee would be $1. Consequently, the VAT on this fee would be $0.075, making the net amount for the transaction $998.925.
The statement read; “We are writing to inform you of an important regulatory update that impacts our users from Nigeria.
“Starting from July 8th, 2024, we will begin collecting a Value-Added Tax (VAT) at a rate of 7.5% on transaction fees in each trade for users whose KYC information is registered in Nigeria.
“Nb: The 7.5% is only charged on the 0.1%/0.05% transaction fee and not your total amount which will be remitted.
“Please note that the VAT will be applied to the transaction fees in each trade, not the transaction amount, and covers all transaction types on KuCoin platform.”
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