Friday, July 19, 2024

Economy

“Multichoice Contests Court’s Ruling Over N150m Penalty During Subscription Fee Hike”

Multichoice Nigeria has formally contested a recent ruling by the Competition and Consumer Protection Tribunal (CCPT), which imposed a fine of N150 million and mandated a "free monthly subscription order" against the company. The appeal, lodged with the Court...

Minister Alleges Buhari Misappropriated $100m World Bank Loan, Diverting Funds from Women’s Empowerment

Minister of Women Affairs, Uju Kennedy-Ohanenye, has made startling allegations against the previous administration led by former President Muhammadu Buhari, accusing them of gross mismanagement of a $500 million World Bank loan earmarked for empowering women in Nigeria. In...

“Southern East youth link food shortages to open grazing and banditry”

The Coalition of South East Youth Leaders (COSEYL) convened in Owerri to address the pressing issue of food scarcity in Nigeria, attributing it squarely to the dual crises of open grazing and rampant banditry plaguing the nation. President General...

Chinese Investor Takes Over Nigerian Government Properties in the UK

Two Nigerian government-owned properties situated in the United Kingdom are currently facing potential acquisition by a Chinese investor, Zhongshan Fucheng Industrial Investment. This follows a recent legal ruling granting Zhongshan enforcement rights over a $70 million investment treaty award...

“NLC Investigates Nigerian Governors for Alleged Non-Compliance with Minimum Wage Law”

The Assistant General Secretary of the Nigeria Labour Congress (NLC), Chris Onyeka, says many state governors are flouting the Minimum Wage Act because they do not believe in sanctity of the law. Onyeka gave the position in Abuja on Monday...

FAAN Launches Operation Against Airport Touts and Extortionists

The Federal Airports Authority of Nigeria (FAAN) has embarked on a vigorous campaign to combat the pervasive issues of touting, extortion, and other illicit activities plaguing the nation's airports. Spearheaded by Mrs. Olubunmi Kuku, the dedicated managing director of...

Dangote Refinery Accuses International Oil Companies and NMDPRA of Sabotage

In a striking accusation, Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited (DIL), has alleged that International Oil Companies (IOCs) in Nigeria are actively undermining the success of the Dangote Oil Refinery and Petrochemicals. According...

CBN Reports Drop in Headline Inflation

he Central Bank of Nigeria (CBN) has announced a significant development in the nation's economic landscape: Nigeria’s headline month-on-month inflation rate has decreased for the third consecutive month in May 2024. This trend marks a notable success in the...

NDIC Ensures Depositors’ Reimbursement from 179 Closed Banks

NDIC Ensures Depositors' Reimbursement from 179 Closed Banks In a significant move aimed at restoring trust and stability in Nigeria's financial sector, the Nigeria Deposit Insurance Corporation (NDIC) has proudly announced the successful reimbursement of deposits from 179 microfinance banks...

Nigerian banks extend workdays to weekends

Nigerian banks extend workdays to weekends. Commercial banks in Nigeria have extended their workdays to weekends for customers to deposit their old naira notes. The action is to help customers meet the Tuesday, January 31 deadline set for the collection...
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Latest News

Ursula von der Leyen Secures Second Term as European Commission President

Ursula von der Leyen has been re-elected as the President of the European Commission, securing a second five-year term. The...
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