Business Commodities Fuel Scarcity: 9,000 oil marketers face license loss, IPMAN appeals for extension May 3, 2024 Ekemini Uba As Nigerians grapple with fuel scarcity, over 9,000 oil marketers are at risk of losing their operating licenses. The Independent Petroleum Marketers Association of Nigeria (IPMAN) is urging the Nigerian…
Banking Business Local FG mandates stamp duty charge on mortgage May 3, 2024 Ekemini Uba The Federal Government has instructed Deposit Money Banks to commence the deduction of a 0.375 per cent stamp duty charge on all mortgage-backed loans and bonds. This directive, conveyed to…
Business Petrol Scarcity: 7 Vessels Stranded at Escravos Channel” May 3, 2024 Ekemini Uba The current petrol supply crisis in Nigeria has been attributed to seven daughter vessels, collectively carrying 150 million litres of petrol, being trapped at the Escravos channel in the Niger…
Business CBN worries over declining economic activities May 3, 2024 Ekemini Uba The Central Bank of Nigeria (CBN) has expressed worry over the recent decline in economic activities in the country. According to Bala Bello, the CBN’s deputy governor of Corporate Services,…
Local Lagos GDP Hits N41trn, Ranks 7th In Africa May 2, 2024 Ekemini Uba The Lagos State Government has announced that its Gross Domestic Product (GDP) has increased from N27 trillion to N41 trillion in just four years of Governor Babajide Sanwo-Olu’s administration. The…
World Oil prices rebound after consecutive days of decline May 2, 2024 Ekemini Uba Oil prices saw a rebound on Thursday after three consecutive days of decline, reaching their lowest levels since mid-March. Brent crude futures for July rose by 58 cents to $84.02…
Business World Google faces closing arguments in US market power trial May 2, 2024 Ekemini Uba The U.S. government is set to present its antitrust case against Alphabet’s Google in closing arguments on Thursday, concluding a trial that commenced on September 12. In this trial, Google,…
World Peloton CEO McCarthy steps down, fitness equipment maker to cut 15% jobs May 2, 2024 Ekemini Uba Peloton CEO Barry McCarthy is stepping down over a 15% reduction in the company’s global workforce due to decreased demand for its connected fitness equipment in the post-pandemic era. McCarthy,…
Local U.S. Stock Futures Rise, Eyes on Earnings and Jobs Data May 2, 2024 Ekemini Uba U.S. stock index futures rose on Thursday following the Federal Reserve’s decision to leave interest rates unchanged, easing concerns of imminent rate hikes. While Fed Chair Jerome Powell acknowledged persistent…
Business Local Landmark Beach Management Addresses Customers Amid Demolition Plans May 2, 2024 Ekemini Uba Landmark Beach management has deactivated its app and issued a statement addressing its customers regarding the current developments surrounding plans for demolition. The organization expressed understanding for the inconvenience caused…
Local Tinubu Pledges Fair Wages and Improved Welfare for workers May 2, 2024 Ekemini Uba President Bola Tinubu has affirmed that hardworking Nigerians deserve fair wages and better welfare. This message was conveyed in his Workers Day address on May 1, 2024, by his spokesperson,…
Africa Business Tanzania, Kenya resolve poultry export dispute- EAC May 2, 2024 Ekemini Uba Tanzania and Kenya have finally resolved a trade dispute regarding the export of poultry and poultry products between the two countries, as announced by the East African Community (EAC). The…
Business Local NLC labels FG’s 35% salary increase mischievous May 2, 2024 Ekemini Uba The National President of the National Labour Congress (NLC), Joe Ajaero, has criticized the federal government’s increase of civil servants’ salaries by 35%, deeming it mischievous. Ajaero emphasized that the…
Local FG approves 25%-35% salary increase for civil servants in Nigeria May 2, 2024 Ekemini Uba The Federal Government has approved a salary increase ranging from 25% to 35% across various salary structures, aiming to enhance the welfare of civil servants. This increment will benefit personnel…
Local Extradition papers for escaped Binance executive ready – Interpol May 2, 2024 Ekemini Uba The International Criminal Police Organization for Africa (INTERPOL Africa) has finalized the extradition papers for Nadeem Anjarwalla, a Binance executive who fled detention in Nigeria. Garba Umar, INTERPOL Africa’s Vice…
Local Lagos State Uncovers 86 rooms under Ikoyi bridge where tenants pay N250,000 rent May 2, 2024 Ekemini Uba The Lagos State government has uncovered a network of makeshift apartments beneath the Dolphin Estate Bridge in Ikoyi, where tenants reportedly paid N250,000 per annum for a room. Commissioner for…
Africa ECOWAS warns West African countries against being proxy frontiers of foreign powers May 2, 2024 Ekemini Uba The Economic Community of West African States (ECOWAS) Council of the Wise, chaired by former Nigerian president Goodluck Jonathan, has issued a warning to West African governments regarding the dangers…
Banking Business Local FCMB Group records 186% profit growth May 2, 2024 Ekemini Uba FCMB Group Plc has announced a remarkable increase in profit before tax, reaching N104.4 billion, marking a substantial 186 percent Year-on-Year (YoY) rise compared to N36.6 billion recorded in 2022.…
Banking Local Banks close 2m accounts over BVN, NIN, others May 2, 2024 Ekemini Uba Commercial banks in Nigeria closed more than 2 million bank accounts in the first quarter of 2024 to adhere to regulatory directives regarding the linkage of bank accounts to the…
Business Finance Local Pension Fund Managers Increase Stock Investments to N550 bn May 2, 2024 Ekemini Uba In the first three months of 2024, pension fund managers in Nigeria purchased Nigerian stocks worth N550 billion, reaching a historic total exposure of N2.32 trillion in equities by the…
Business Local Coastal Highway: FG pays N2.75bn compensation for demolished properties May 2, 2024 Ekemini Uba During a meeting at Eko Hotel and Suites in Lagos, David Umahi, the Minister of Works, announced that the Nigerian government has paid N2.75 billion in compensation to property owners…
