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Russia-Ukraine: Higher food prices may cause unrest in Nigeria, others
The International Monetary Fund has said higher food prices as a result of the Russia-Ukraine war might cause unrest in Nigeria, other Sub-Saharan Africa countries, Latin America, the Caucasus, and Central Asia.…
CBN Introduces Bank Cash Hubs To Boost Cash Management Efficiency
The Central Bank of Nigeria (CBN) has introduced cash collection centres called Bank Neutral cash hubs to serve as central cash deposit points for bank…
Crude oil prices fall below $100 a barrel — lowest in three weeks
Oil prices, on Tuesday, plummeted over 6 percent amid hopes for progress to end Russia’s invasion of Ukraine. Brent crude, the global oil benchmark, fell to $99.98 a barrel, while West Texas Intermediate (WTI)…
Blackcopper Launches BC Health
Blackcopper, one of Nigeria’s leading credit and financial institutions, recently launched its…
Airline operators will be granted licence to import aviation fuel – NNPC
The Nigerian National Petroleum Company (NNPC) Limited says it will grant a licence to the Airline Operators of Nigeria (AON)…
GTCO, Lead Sponsor Of NUGA 2022 Receives Torch of Unity From UNILAG
Guaranty Trust Holding Company Plc (GTCO), the lead sponsor of the 26th edition of the Nigerian…
Appeal court orders Shell deposit $2B in 48 hours for Nigerian oil spill claims
The Appeal court in Owerri has ordered Shell to deposit about $2 billion in an account controlled by the court within two working days. The three-man panel made the ruling on 11 March. The court also stopped Shell…
Eko DisCo appoints Deputy Chief Executive Officer
The Board of Director of Eko Electricity Distribution Company has approved the appointment of Dr. Tinuade Sanda as the Deputy Managing…
Nigeria To Lose N1.2bn Daily Over Agip Oil Export Cut
Nigeria’s energy crisis on Monday took a multiple dimension as Agip announced a halt in oil export at its 25,000 barrels per day (bpd) Brass export terminal in Bayelsa. This was sequel to a blast at its facility, which…
CIBN Partners ACAMB to Bridge Reputation Management gap in Nigeria’s Banking Sector
The Chartered Institute of Bankers of Nigeria (CIBN) has signified interest to partner Association of Corporate Affairs Managers of Banks (ACAMB) to bridge…
Gencos: Nation in Darkness Because We are Owed N1.6trn Since 2013
Power Generation Companies (Gencos) under the Association of Power Generation Companies (APGC) yesterday stated that the power supply situation in the country was worsening because they were owed over N1.6 trillion…
Dangote jumps 29 places in rich list, wealthier than 429 powerful billionaires
Africa's richest man and president of Dangote Group, Aliko Dangote, as of Wednesday, 9th March 2022 is now the 71st richest person in the world as against his previous ranking of 100th…
N1trn inflow set to escalate excess cash in banks
Liquidity inflows totaling N1.02 trillion will hit the interbank money market this month aggravating the volume of excess cash in banks. The inflows comprise of N335.13 billion coupon (interest) payment on FGN…
IWD: Dangote Pledges Greater Investment in Women Empowerment
Dangote Group has reiterated its commitment to continue supporting all forms of investments that would help develop and empower the women…
Solid minerals revenue rises by 54% to N128bn, NEITI reports
Revenue from the solid minerals sector to the Federation Account rose by 54 percent in 2020 to N128 billion compared to N75 billion recorded in 2019, an audit report of the mining sector by the Nigerian Extractive…
Manufacturers send SOS to FG as diesel price hits N730
The Manufacturers Association of Nigeria (MAN), is seeking urgent intervention from the Federal Government to support the production of goods, as diesel price hits N720-730 per litre. Mr Lanre Popoola, the Chairman,…
Why Diaspora remittances to Nigeria, Ghana spiked in 2021 – Report
A report by WorldRemit, a global payments company, has revealed that remittances by immigrants in countries like the United Kingdom, the United States and Canada rose significantly in 2021. The report added that the…
Farmers’ association applauds FG’s ban on direct purchase of agric produce by foreigners
The All Farmers Association of Nigeria (AFAN) has commended the federal government’s ban on foreigners’ direct purchase of agricultural produce. The federal executive council (FEC) had on Wednesday approved a memo…
Uber adds surcharge as gas prices spike in US
Uber Technologies Inc said on Friday U.S. customers, excluding New York City, will have to pay a fuel surcharge from March 16 as the ride-hailing firm tries to address concerns of drivers and couriers hit by…
Deutsche Bank backpedals out of Russia
Deutsche Bank, made a volte face within hours Friday by deciding it would wind down its business in Russia, following stinging criticism from some investors and politicians. It joins the ranks of Goldman Sachs and…
How Lessors Rip-off Nigerian Airlines with Exorbitant Rates
It has emerged that the Nigerian air travel market has become a huge windfall for leasing companies as they rake in millions of dollars from Nigerian airlines. According to THISDAY investigation, after the lockdown…
NICON Assets: Court Okays Process To Jail AMCON MD
A Federal High Court in Abuja has issued an order to commence committal proceedings against the Managing Director of the Assets Management Company of Nigeria (AMCON), Ahmed Lawal Kure, over alleged seizure of NICON…
Barclays suspends Chelsea’s bank account, credit cards
Chelsea’s bank account and credit cards have been temporarily suspended by Barclays, following the UK sanctions on the club’s owner Russian oligarch Roman Abramovich. The bank premised the action on the need to…
Why southeast ranks low in VAT collection
As the debate over whether the state or Federal Government should collect Value Added Tax (TAX) is yet to settle, inability to invest at home,…