Governor Chukwuma Soludo of Anambra State has been urged to reduce the recently increased stallage Fees in Anambra markets, especially Government-owned markets. The Anambra Traders’ Forum who made the appeal in a statement issued and made available to the media in Onitsha, the State commercial hub, lamented that the fees are becoming unbearable for […]
Chairman and Chief Executive of the Dangote Group, Aliko Dangote, has criticised the latest increment of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN). While addressing the audience during the opening session of a three-day summit Organised by the Manufacturers Association of Nigeria (MAN) at the Banquet Hall […]
The Securities and Exchange Commission (SEC) says Alpha Trust Investment Club (ATIC) and its investment schemes are not registered or approved by the capital market regulator. Aderemi Adeoye, a retired commissioner of police (CP), co-founded ATIC in June 2018. In a statement on June 26, the SEC said operations of the investment club are […]
Meta, the parent company of Facebook, has announced the availability of two new monetisation features for content creators in Nigeria and Ghana. Speaking on Monday, Meta said the features — which include Facebook in-stream ads and Facebook ads on reels — will allow creators to earn money for creating original videos and building communities. […]
A newly released report by the National Bureau of Statistics (NBS), said total capital importation into Nigeria rose by 210.16 per cent to $3,376m in the first quarter of 2024. According to the report, the rise was from $1,088m recorded in Q4 2023. The increase is higher than the $1,132m recorded in Q1 2023, […]
The Central Bank of Nigeria has issued new guidelines for Deposit Money Banks regarding the deposit of foreign currency notes. This directive was detailed in a circular issued by the Director of Currency Operations, Mohammed Solaja, and posted on the bank’s website on Friday. The CBN specified that each bank is allowed a maximum […]
The Central Bank of Nigeria (CBN) says the foreign exchange (FX) price verification system (PVS) portal used by importers has been discontinued. The CBN disclosed this in a statement on Thursday signed W. J. Kanya, its acting director of trade and exchange department. In August 2023, the CBN had said price verification from the […]
The number of estimated electricity customers rose by 10.22 per cent to 6.43 million in Q1 2024, according to data from the National Bureau of Statistics (NBS). The NBS report, ‘Electricity Report for the first quarter (Q1) of 2024’ released on Tuesday in Abuja, said the increase was against the 5.83 million recorded in […]
The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited. Harris, who disclosed this at a meeting with the […]
Femi Otedola, the billionaire businessman, has acquired an additional 2.22 percent shares in FBN Holdings. The acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Monday. The fresh acquisition further cements the billionaire’s control in the company as his shareholding has now reached 11.63 percent — the highest. According […]
