Foreign Airlines Trapped Funds Reached $743m – IATA
The International Air Transport Association revealed on Tuesday that the trapped money of international airlines operating in Nigeria had increased…
Year: 2023
Fuel Prices will Rise Due to a Lack of Supply, Marketers Warn
According to oil marketers, the discrepancy in the price of Premium Motor Spirit, also known as gasoline, at the pump…
Naira Redesign Has Two Issues: Moghalu
Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria, has voiced his displeasure with the string of…
Ghana Removes Fuel Subsidies and Establishes a Special Refinery Fund to Stabilize the Energy Sector.
According to the Ghana National Petroleum Authority (NPA), the nation has put in place regulatory measures, such as removing gasoline…
Kenya Plans to Work with Zambian Farmers on a Special Maize Importation Agreement.
In an effort to reduce the price of the staple, Nairobi will sign contracts with farmers in Zambia next month…
Kenya Nuclear Proposal will Require Billions for Grid Improvements.
When Kenya chooses to move forward with plans to build nuclear power facilities to help meet the nation’s expanding energy…
The CBN Schedules the MPC Meeting.
The Monetary Policy Committee meeting will be place on March 20 and 21, 2023, according to the Central Bank of…
DMO Reopens and Sells Four N360bn FGN Bonds in March
The Debt Management Office (DMO) opened an auction for the purchase of four Federal Government of Nigeria (FGN) Bonds worth…
Cheque Transactions Down to N482.5bn in Two Months Low Naira Supply
The total value of cheque transactions fell to N482.5 billion in the first two months of 2023, a decrease of…
Osinbajo Unveils $600 Million in Financing for the ICT and Creative Industries
A $600 million program for young Nigerians in the technology and creative industries was introduced by Vice President Yemi Osinbajo,…
Forex Crisis: Banks Reduce PTA/BTA to $2000, Review Processing Time to 120 Days
Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) dollar amounts have been reduced by 50% at Nigerian banks, from…
Meta To Cut 10,000 Jobs In A Second Wave Of Layoffs
The parent company of Facebook, Meta Platforms Inc has slashed 10,000 additional workers, becoming the first major internet corporation to…
Virgin Atlantic joins Sky Team Alliance.
Virgin Atlantic has joined SkyTeam Alliance, becoming the group’s first and only airline from the United Kingdom. Delta Air Lines…
Nestle SA Invests N90bn in its Nigerian Arm.
Nestle South Africa, a food and beverage corporation, has purchased N90.29 billion worth of Nestlé Nigeria Plc shares. The transaction…
Dollar shortage: Banks Decrease Travel Allowance, International School Costs
In response to a deepening foreign exchange crisis, Deposit Money Banks have reduced the amount of Personal Travel Allowance and…
Guinea Insurance Gets Fresh N900m Capital
According to Guinea Insurance Plc, it invested around N900 million in its operations during the 2022 fiscal year. In addition,…
NPA lauds union over workers’ pay rise
The Maritime Workers’ Union of Nigeria received praise from the management of the Nigerian Ports Authority for its assistance and…
Economic Hardship and Population Growth are Increasing The Unemployment Situation.
The head of the CPPE emphasized the necessity of fostering an atmosphere that would allow micro, small, and medium-sized firms…
FG Investigates a $1.1bn Oil Well Robbery
Oil Mining Licence 17 has been linked to an illegal oil bunkering operation, and individuals responsible for the oil theft…
Polaris Encourages Women’s Empowerment In The Workplace.
The country’s institutions have been urged by Polaris Bank Limited and other financial sector players to offer opportunities that would…
NSIA Introduces a Technology Competition Portal.
A site for applications has been made available by the Nigeria Sovereign Investment Authority for the first award for innovation…
Pfizer To Pay $43 billion to Buy Seagen
The multinational biotechnology business Seagan Inc. and the pharmaceutical behemoth Pfizer have agreed to combine for $43 billion, or $229…
Court Sentences Yobe State Auditor-General to Five Years in Prison for N19 million Fraud
Alhaji Idris Yahaya, the Yobe State Auditor General for local government, was given a five-year jail term for misappropriating N19.9…
E-payment Declines to N37tn as Unsuccessful Transactions Increase
Cashless gateways were utilized 901.46 million times in February compared to 638 million times in January. Despite a rise in…
FG Closes Lagos Airport’s Runway and Redirects all Foreign Flights
The Murtala Muhammed International Airport in Lagos will be closed for eight weeks for repair, according to a statement from…
Nigerians to Pay N1,000 NIN Fee For Passports
Nigeria will charge N1000 to verify a Nigerian’s National Identity Number when they apply for a passport.The commission claims that…
Emefiele Eventually Gives in to Pressure and Declares Old Naira Notes to be Legal Currency.
Godwin Emefiele, the governor of the Central Bank of Nigeria, succumbed to pressure on Monday and formally ordered commercial banks…
The Chairman Of Vitafoam Board Retires.
The Chairman of Vitafoam Nigeria Plc, Bamidele Makanjuola, has retired after 10 years of service, in line with the company’s…
Indian Prateek Gupta Steals $600m From Trafigura In Nickel Shipment Fraud
According to court records from London, the global commodities trader Trafigura has accused Indian businessman Prateek Gupta of committing “systematic…
PAPSS will Promote Capital Market Diversity – SEC
The execution of the Securities and Exchange Commission’s agreement with the Pan-African Payment Settlement System is expected to promote intra-African…