Category: Business
Oil prices dropped below the $100 per barrel mark as COVID-related lockdowns in China weighed on demand expectations. Data from Reuters showed Brent crude the international benchmark for Nigerian oil closed Monday at $99.01 per barrel after losing 3.76 per cent or $3.77. While the United States West Texas Intermediate (WTI) crude futures depreciated by […]
The National Agency for Food and Drug Administration and Control (NAFDAC) has called the attention of the general public to the recall of a contaminated product. In the alert for recall numbered No. 021/2022, Continental Mills is recalling a single lot of Great Value Buttermilk Pancake and Waffle Mix, due to a potential foreign material […]
The Nigerian Communications Commission (NCC), on Sunday, said that phone numbers not linked to a National Identity Number (NIN) will remain barred from making calls until the affected subscribers obey the directive. A statement by the commission told telecoms consumers whose Subscriber Identity Module (SIM) cards are barred from making calls that affected SIMs will […]
Telecommunications giant, MTN Nigeria has been granted final approval to operate mobile money (MoMo) payment service bank (PSB) licence in Nigeria. MTN announced, yesterday, that it has been given permission to operate the bank by the Central Bank of Nigeria (CBN), and that it would soon offer financial services under the licence requirements. MTN Group […]
A suit challenging the constitutionality of CBN’s cashless policy was struck out by Justice Akintayo Aluko on the grounds of incompetence, lack of proof, and absence of jurisdiction. In the suit marked: FHC/L/CS/1730/2019, Victor Onyegbado( the plaintiff) Sought an order of perpetual injunction restraining CBN from implementing the cashless policy, on the grounds that its […]
With limited capacity to build reserves via deadweight tonnage of tanker fleets through Very Large Crude Carriers (VLCC), the Federal Government may leverage the 2.4 billion litre crude storage facility by Dangote Refinery to serve as the country’s strategic reserve. Strategic petroleum reserves are stockpiles of crude oil maintained by countries for release in the […]
Mr Uchenna Nwankwo, Deputy Sales Officer, Dangote Fertiliser Ltd., made this known in a statement on Sunday from the ongoing Enugu International Trade Fair. Nwankwo said the training, which Is part of the company’s agriculture extension services will involve spot demonstrations, result demonstrations, field demonstrations and soil sample collections. He added that the exercise was designed […]
The Debt Management Office (DMO) has announced two federal government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. According to a circular on its website on Monday, DMO said the issuance, which will opened on April 4, would run till April 8. A bond is a fixed income instrument (loan) made by an investor […]
The Federal Government of Nigeria has disclosed plans to build a $272 million, 5.76km rail track in the Federal Capital Territory. This was disclosed by the Federal Capital Territory Administration (FCTA) Transportation Secretariat through, Alhaji Zakari Dobi, its secretary on Monday, inspecting vandalized Light Rail Track, Station and Idu Training Centre on Monday in Abuja. […]
The House of Representatives has resolved to investigate the rise in the cost of diesel and cooking gas with a view to cushioning the effects on Nigerians. This is sequel to a unanimous adoption of a motion by Chike Okafor (APC-Imo), at the plenary on Tuesday. Moving the motion, Mr Okafor said that the Nigeria […]
Mr. President has anchored his policies towards the creation of jobs for Nigerians. The Minister of Communications and Digital Economy, Prof Isa Ali Pantami, starting from when he was the Director-General of Nigerian Information Technology Development Agency (NITDA), has consistently been an advocate for local content in ICT culminating in the National Policy for the […]
The Nigerian billionaire industrialist is currently worth a staggering $20 billion. He is also the 79th richest person in the world and the only African among the top 100 richest people in the entire world. Recall that during the start of 2022, Mr Dangote had a net worth of $19.2 billion and was ranked the […]
The workplace, just like other aspects of human endeavor, has continued to evolve. One of such areas of evolution is remote work. While there have been arguments for and against the concept, one thing is certain, remote work is a concept that is here to stay. One common point of dispute for employers has been […]
The Debt Management Office (DMO) said on Thursday the Federal Government used loans secured from multilateral lenders as a tool for economic recovery. The Director-General of the DMO, Patience Oniha, stated this in a keynote address at the fourth national budget roundtable and panel discussion at Covenant University, Ogun State. She said Nigeria’s current debt […]
Oil prices fell more than 5% on Monday to the lowest in nearly two weeks following the announcement from the United States government that it will release 180 million barrels of oil over six months. Also, a pandemic-linked travel ban in China has also cast doubt on demand. Data shows that on Thursday, Brent the […]
