The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to immediately close all the naira accounts of International Money Transfer Operators (IMTOs), such as Western Union, licensed to operate in the country. The apex bank, which stated this in a circular posted on its website Friday, said the directive is aimed at […]
The people of Obite Community in Ogba Egbema Ndoni Local Government Area of Rivers State have shut down a gas plant owned by TOTAL Exploration and Producing Nigeria Limited over the alleged refusal of the oil giant to pay them the sum of N2.5 billion. According to hundreds of residents of the five villages in […]
The United States (US) has suggested that the process to find a new director-general of the World Trade Organisation (WTO) needs to be reopened, BBC is reporting. Robert Lighthizer, US trade representative, during an interview on Wednesday, said the WTO needs “someone with real experience in trade, not someone from the World Bank or a […]
The Senate on Thursday passed for third reading, the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Senator representing Lagos West and chairman, Senate Committee on Finance, Olamilekan Solomon Adeola presented the Conference Report of the Joint Committee of the Senate and House of Representatives on Finance on the floor of the […]
Oil prices extend its gains Thursday morning to a nine-month high at $51.06 after United States (US) crude stockpiles declined more than expected and lawmakers edged closer toward a new stimulus agreement. The last time it traded above $50 region was in March 4, 2020, when it traded at $51.13. Brent crude futures rose 72 […]
The Central Bank of Nigeria (CBN) has alerted the public on the activities of two unauthorised International Money Transfer Operators (IMTOs), Transferwise and Messrs Azimo. A statement by Mr Osita Nwanisobi, CBN‘s Acting Director, Corporate Communications urged the public not to do business with both companies. “The attention of the CBN has been drawn to […]
A contempt charge has been instituted against the Governor of Central Bank of Nigeria, Godwin Emefiele, over his alleged refusal to order payment of N182 billion to Ogoni people. The sum was awarded against Shell Petroleum over the oil spillage caused the Ogoni land by the company. The Ogoni people represented by Lucious Nwosu (SAN), […]
Ekiti State government on Monday cautioned residents against engaging in business transactions with unverified loan givers to avoid being scammed. Commissioner for Information and Values Orientation, Mr Akin Omole, said in a statement issued in Ado-Ekiti that some unscrupulous persons and organisations were going about baiting people with attractive loan packages to swindle the gullible. […]
The high cost of food items across the country will linger for months due to the effects of insecurity and the COVID – 19 pandemic on food production , Nigerian farmers have said . According to them , the production of food had dropped and this has further escalated the prices of agricultural commodities nationwide. […]
Oil prices touched their highest level since March on Thursday, as hopes of swifter-than-thought vaccine rollout fueled bullish expectations of strengthening oil demand early next year. As at Thursday afternoon, brent crude, the international benchmark, sold at $50.55 per barrel, for the first time since the first days in March, when Saudi Arabia and Russia […]
