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CBN directors kick as Cardoso’s illegal consultants earn “obscene” salaries
The women’s presence, operation, and compensation have set tongues wagging across the Central Bank of Nigeria (CBN). Senior staff members across the CBN’s 29 departments are fuming and grumbling over how the…
Trump to announce 25% tariffs on steel and aluminum, escalating trade tensions with Canada, others
U.S. President Donald Trump has announced plans to introduce new 25% tariffs on all steel and aluminum imports, marking a significant escalation in his trade policy agenda. Speaking to reporters aboard Air…
Why Nigerians prefer Fintech loans over traditional bank loans
When Joe Michael needed a loan in 2021, he approached his bank to inquire about the process and requirements. He was surprised by the extensive documentation needed for a personal loan, which included a completed…
Manufacturers, Others Decry New 4% Levy On Imports
The imposition of a four per cent increase in charges on all consignments imported into the country by the Nigeria Customs Service (NCS), last week, drew disapproval from manufacturers, economists and other…
BREAKING: Falana Sues Meta, Seeks $5m For Invasion Of Privacy
A Senior Advocate of Nigeria (SAN) Femi Falana has filed a $5, 000, 000 (Five million US dollar) suit before a Lagos High Court against the United States of America-based organization Meta Platforms Inc., over…
Energy Expert Urges President Tinubu to End Petrol Import Racket, Prioritise Local Refining
Energy expert Dan Kunle has warned that the continued importation of petrol and diesel by the Nigerian National Petroleum Corporation (NNPC) Limited and certain…
Nigerian billionaire businessman jailed in Dubai
A Dubai court has sentenced the owner of Rahmaniya Group and Ultimate Oil & Gas, Abdulrahman Bashar to one year in prison for a financial crime involving his dealings with CI Energy Company, an oil and gas…
‘I Came From Nowhere And I Have Achieved A Lot’ – Tony Elumelu
At the esteemed Legacy Builders Palm Beach Conference, held at the luxurious Eau Palm Beach Resort &…
‘How Does This Make Sense?’ – Saraki Questions Tinubu Govt Over New Customs Levy
Former Senate President Bukola Saraki has expressed strong reservations about the new 4% charge on the Free On-Board (FOB) value of imports, recently introduced by the Nigeria Customs Service. The charge, which was announced…
Liquidity: Banks borrow N1.2tr from CBN in one day
Owing to liquidity challenge, Nigerian Deposit Money Banks (DMBs) have made the largest single withdrawal of N1.2…
Court Dismisses Suit Seeking Disclosure Of $100Million Dangote Payment To Lagos Govt
The Federal High Court sitting in Lagos, presided over by Justice A. Faji, has dismissed a suit seeking an order of mandamus to compel the Lagos State Government to release details of the expenditure of $100 million…
World’s most expensive cow sold for $4.8m
A Nelore cow named Viatina-19 has set a new world record after being sold for an astonishing $4.8…
Chinese rival overtakes Tesla as Britain turns against Musk
Chinese electric car titan BYD has overtaken Tesla in British sales for the first time as public…
Reps asks FG to immidiately halt Shell, TotalEnergies’ divestment
The House of Representatives on Thursday asked the federal government to immediately halt all divestment processes by Shell,…
US imports hit record high as Trump tariffs backfire
US imports surged to a record high in December, official figures showed today as Donald Trump’s threat of tariffs triggered a rush among American…
NIBSS bets big on contactless payment with new innovations
The Nigerian Interbank Settlement System (NIBSS) is reinforcing its commitment to a cashless economy with…
Naira appreciates further after CBN’s new BDC directives
The naira appreciated further in the parallel market, popularly called black market, on Thursday, a day after the Central Bank of Nigeria (CBN) issued new directives…
Dangote refinery attains peak PMS production of 33m litres a day
The giant Dangote refinery in Lagos has attained a peak PMS production of 33 million litres a day just as the plant attains another landmark of 550,000 barrels a day, proof that the refinery has significantly…
BREAKING: NPA increases tariffs by 15% after 32 years
The Nigerian Ports Authority (NPA) has announced a 15% tariff increase, the first in 32 years. NPA managing director, Abubakar Dantsoho, disclosed this on Thursday in Lagos during the stakeholders’ engagement for…
Importers to pay more as customs introduces 4% FOB levy
The Nigeria Customs Service (NCS) says it will implement a 4 percent charge on the free-on-board (FOB) value of imports. FOB is when the seller is responsible for delivering the goods to the port of departure,…
CBN Restricts BDCs To $25,000 Fx Weekly, One Dealer Bank
The Central Bank of Nigeria (CBN) yesterday released new guidelines which permits Bureau de Change (BDC) operators to purchase up to $25,000 weekly from Authorised Dealer Banks (ADBs) to meet retail market…
Dangote, in Africa’s first, exports jet fuel to Saudi Aramco
The giant Dangote refinery in Lagos has exported two cargoes of jet fuel to Saudi Aramco in what some analysts say truly…
PoS Transactions Hit All-Time High Of N18tr In 2024
The value of transactions over Point of Sales (PoS) terminals in Nigeria surged to N18 trillion in 2024, hitting an all-time yearly record. This is according to data obtained from the Nigeria Inter-Bank Settlement…
Naira sustains gains, appreciates to N1,595/$
The Naira yesterday appreciated to N1,595 per dollar in the parallel market from N1,610 per dollar on Monday. Thus the Naira has recorded N45 week-on-week, WoW appreciation from N1,640 per dollar Tuesday last…