Dangote Petroleum Refinery and Petrochemicals in Lagos State has moved the supply date for Premium Motor Spirit (PMS) popularly known as petrol from June to mid July. The President and Chief Executive Officer of the refinery, Aliko Dangote, attributed the postponement to slight delay but assured the public that by second to third week […]
The Central Bank of Nigeria (CBN) says the banking system and depositors’ funds are safe. Sidi Ali Hakama, the bank’s acting director of corporate communications, said this on Monday during a chat with journalists in Abuja. This comes amid concerns about the stability of some banks following the licence revocation of Heritage Bank Plc. […]
The National Bureau of Statistics (NBS) says Nigeria recorded a N6.5 trillion trade surplus between January and March of 2024. NBS made this known in its foreign trade report for the first quarter (Q1) of 2024 on Sunday. In the first quarter of the year, NBS said Nigeria’s exports totalled N19.1 trillion and total […]
The Enugu Electricity Distribution Company (EEDC) has threatened to disconnect all the five South East Government Houses, the University of Nigeria, Nnamdi Azikiwe University, the Nigerian Army, among others, for failure to clear their accumulated energy bills. In a disconnection notice, EEDC advised them to clear the bills on or before June 10, 2024. […]
The Competition and Consumer Protection Tribunal on Friday fined Multichoice Nigeria, the owners of DSTV and GoTv services, the sum of N150 million for disobeying its orders, which restrained the pay-TV company from increasing its monthly subscription pending the determination of the suit brought before it. The tribunal also ordered the pay-TV company to […]
Acute food insecurity is projected to worsen in magnitude and severity across 18 hunger “hotspots,” including Nigeria. This was revealed in a recent report from the United Nations. The report emphasised the immediate need for assistance to prevent femine in Gaza and Sudan, as well as the worsening hunger crises in Haiti, Mali, and […]
The Federal Government’s ban on the export of Liquefied Petroleum Gas, popularly called cooking gas, has led to a crash in the cost of the commodity from about N1,500 per kilogram to around N900/kg, LPG dealers stated on Wednesday. Cooking gas dealers under the aegis of the Nigerian Association of Liquefied Petroleum Gas Marketers […]
The Central Bank of Nigeria has denied plans to revoke the licenses of Unity Bank, Polaris Bank, and Keystone Bank. “The content is fake and not from the CBN.” Online reports had claimed that the apex bank would terminate the licenses of the three banks, following the revocation of Heritage Bank’s license. However, the […]
Financial technology (Fintech) companies have resumed onboarding new customers. In separate statements on Monday, OPay and Kuda Microfinance Bank announced the Central Bank of Nigeria (CBN) has authorised them to start enrolling users. On April 29, CBN directed fintech companies to pause enrollment of new customers. This followed the federal government’s effort to address […]
The International Air Transport Association (IATA) has given an update on airline funds trapped in Nigeria, disclosing that 98% of the blocked funds have been cleared. At its peak in June 2023, Nigeria’s blocked funds amounted to $850 million, significantly affecting airline operations and finances in the country. However, as of April 2024, 98% […]
