The Association of Table Waters Producers (ATWAP) has stated that the price of pure water may be sold for N100 per one due to the high cost of production materials. They lamented that producers face challenges such as the high cost of diesel, lack of power as well as high cost of production, stressing […]
MTN Nigeria says multiple fibre cuts are responsible for the service outage experienced by its subscribers on Wednesday. Several users had complained about suffering network disruption. According to a post on its X page on Wednesday, MTN said the outage is affecting voice and data services. The telecommunications company also expressed regret at the […]
Presidential spokesman, Bayo Onanuga, says if not stopped, cryptocurrency trading website Binance will destroy the Nigerian economy by arbitrarily fixing foreign exchange rate. “If we don’t clamp down on Binance, Binance will destroy the economy of this country. They just fix the rate,” a displeased Onanuga said on Channels Television’s Politics Today programme on […]
Two senior executives at Binance have been detained in Nigeria as the country cracks down on cryptocurrency exchanges, Vanguard is reporting. The executives flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites last week but they were detained by the office of the country’s national security adviser and their passports […]
The Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) has raised the Monetary Policy Rate(MPR) by four hundred basis points to 22.75 percent from 18.75 percent. Governor of the CBN Yemi Cardoso announced this after the first MPC meeting for the year in Abuja on Tuesday. “All 12 members of the committee decided […]
The Federal High Court sitting in Lagos has restrained telecom operators in Nigeria from deactivating or barring any line or sim whose user did not link same to the National Identification Number (NIN). Justice Ambrose Lewis-Allagoa restrained the telecom operators from taking such action while ruling on an application filed by a Lagos-based lawyer, […]
The National Bureau of Statistics (NBS) on Monday, February 26, said the average airfare paid by passengers rose from N74,648.65 in January 2023 to N89,975.68 in January 2024. It also noted that on a Month-on-Month basis, the average airfare increased by 5% from the fare paid in December 2023. This was contained in the […]
The Central Bank of Nigeria (CBN) has placed limits on the foreign exchange (FX) sales by Bureau De Change (BDC) operators. The apex disclosed the directive on February 23, 2024, in a document titled ‘Revised Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria’. According to the circular, BDCs may sell foreign […]
The Federal High Court sitting in Lagos has ordered the Federal Airports Authority of Nigeria (FAAN) to show the total annual generated revenue from toll gates and parking lots fees in all Federal Government-owned airports and how much it remitted from January 2015 till January 2024. Justice Ibrahim Kala who granted the order, also […]
The Central Bank of Nigeria has pegged the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. This was as the bank instructed the Customs to utilise the FX closing rate on the date of the ‘Form M’ submission by importers for the clearance of goods and import […]
