EU aviation regulator to allow FAA to observe its plane audits
European aviation regulators are proposing a new level of cooperation with their American counterparts. The European Union Aviation Safety Agency…
Month: June 2024
US farmers opt for soy to limit losses as all crop prices slump
Illinois farmers like Mark Tuttle are planting more soybeans and less corn this year in a desperate attempt to minimize…
U.S. job openings drop in April, as labor market cools
The U.S. job market appears to be cooling down, with job openings dropping to a three-year low in April. This…
Chinese security firm Nuctech challenges EU raids over alleged subsidies
Nuctech, a Chinese company manufacturing security scanners, is suing the European Commission after its offices were raided on suspicion of…
Boeing’s Calhoun says board will decide his successor
Boeing’s outgoing CEO David Calhoun is stepping down by the end of the year. The board is actively searching for…
Toyota Recalls Over 100,000 Vehicles Due to Potential Engine Stall
Attention Toyota and Lexus owners! There’s a recall on certain 2022-2023 Tundra pickup trucks and LX 600 SUVs equipped with…
Paramount Global’s top execs detail restructuring plan; shares fall
Paramount Global is undergoing a major shakeup. Facing declining revenue from traditional television and a yet-to-be-profitable streaming service, the company…
Flour Mills revenue hits N2.3tn
Flour Mills of Nigeria (FMN), a leading food and agro-allied company in Nigeria, announced impressive financial results for the year…
UK dedicated to maximising trading scheme uptake – Envoy
The British government is eager to leverage a trade scheme designed to benefit developing countries like Nigeria. The Developing Countries…
Tax reforms committee proposes daily sharing of FAAC funds
The federal government has approved a new policy exempting small businesses from withholding tax. This means businesses earning N25 million…
Shutting Down Of National Grid Is Treasonable Felony – Group
The Centre for Social and Economic Rights (CSER), a Nigerian civil society organization, has strongly condemned the recent strike by…
CBN Lifts Ban on New Customer Signups for OPay, Kuda and Others
In a move welcomed by Nigerian fintech users, the Central Bank of Nigeria (CBN) has lifted its ban on onboarding…
FMBN Inaugurates Task Force To Recover Delinquent Loans
In a move to improve its financial health, the Federal Mortgage Bank of Nigeria (FMBN) has launched a major loan…
Strengthening National Capacities For Debt Management Crucial – Cardoso
Building strong debt management skills is crucial for West African nations, according to Nigeria’s Central Bank Governor, Olayemi Cardoso. Speaking…
Heritage Bank Loses License, Depositors to be Paid by Insurance Corporation
The Central Bank of Nigeria (CBN) has revoked the operating license of Heritage Bank due to ongoing financial struggles. The…
Tax Reform Committee Proposes Lower Fees for Tax Collectors, Daily Revenue Sharing for States
Nigeria’s Presidential Fiscal Policy and Tax Reforms Committee is proposing significant changes to tax collection. The Committee Chair, Taiwo Oyedele,…
Trading continues on NGX amid strike, investors lose N103bn
The Nigerian Stock Exchange (NGX) opened the week on a down note, with investors losing N103 billion. Sell-offs in major…
Strike: FG offers ‘above’ N60,000 minimum wage as NLC/TUC revert to organs
Nigerian labor unions have called off their nationwide strike after a productive meeting with the federal government. The government pledged…
Petrol: Landing cost rises 46.8 per cent to N1,026.71 — Investigation
Despite claims of subsidy removal, the landing cost of petrol in Nigeria has risen sharply over the past year. In…
Naira closes at N1,476.12 as dollar supply drops
The Nigerian Naira appreciated against the US dollar at the official foreign exchange market on Monday, even though there was…
After trial, investors weigh Trump 2.0 factor as election looms
Last week, Donald Trump became the first former president to be convicted of a felony, but Wall Street remains optimistic…
Stock investors gain N619bn in May despite rates hike
The Nigerian equities market showed resilience in May, posting a marginal gain of N619 billion despite the Central Bank of…
Apprehension as FG borrows N20.1trn under Tinubu
In the first year of President Bola Tinubu’s administration, the Federal Government of Nigeria borrowed N20.1 trillion from domestic investors,…
CBN Predicts Growth in Shariah-Compliant Banks
The Central Bank of Nigeria (CBN) announced that more shariah-compliant banks are expected to emerge due to the economic benefits…
Cryptocurrency Suffers $42.6 Million Loss to Hacks in May
In May, the cryptocurrency industry faced significant losses totaling $42.6 million due to various hacking schemes, including flash loan attacks,…
Nigeria to monitor mining sites via satellite, curb illegal activities
Dr. Dele Alake, Minister of Solid Minerals Development, announced that the Nigerian government will implement satellite technology to monitor mining…
Iran-Africa Trade Reaches $1.2 Billion, with Iran Targeting Nigerian Market
The Government of the Islamic Republic of Iran announced that its trade with African countries has reached $1.2 billion over…
FG eyes $7bn FDI from oil sector – Wale Edun
Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, announced the securing of $7 billion in Foreign…
Aviation Workers’ Strike Causes Flight Delays and Cancellations
On Monday, flights from Lagos airport terminals and other airports nationwide experienced significant delays and cancellations due to a strike…
CBN Revokes Licence Of Heritage Bank
The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect, citing a breach…