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Tinubu blames privatization for current power sector crisis

Electricity featured

Nigeria isn’t poor, huge money moves below radar –

Finance

Access Holdings disowns unauthorised 2025 financial highlight release

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Godwin Emefiele, CBN Governor and the redesigned naira note
Business featured

ICYMI: Old naira: What to know about CBN deadlines

The Central Bank of Nigeria on January 29, extended the deadline for phasing out the old note from January 31 to February 10. Following the naira crunch, the the Supreme Court temporarily stopped the CBN’s deadline. It means for now, the CBN has not communicated any other deadline for the old naira note to stop being […]

Petrol pump
Business

Scarcity: FG confirms availability of 1.3bn litres of petrol

Nigeria has confirmed the availability of about 1.3 billion litres of petrol which is said to resolve the lingering fuel scarcity. This was according to a report disclosed to The Punch on Saturday by the General Coordinator, South-West, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ayo Kadoso. Kadoso said this during a visit by the […]

Money bouquet, others abuse naira, CBN warns Nigerians
News

Money bouquet, others abuse naira, CBN warns Nigerians

  Wilson Adekumola   The Central Bank of Nigeria on Friday warned Nigerians against the practices deemed abusive to the naira currency. In a warning issued on Twitter, the apex bank told Nigerians that oractices such as money bouquet, squeezing, selling, and defacing as forms of naira abuse. Also included on the list of acts […]

Collapsed buildings in Turkey after the earthquake
Business

How earthquake’ll affect Turkey’s $819bn economy

The $819 billion economy-sized country, Turkey, is expected to experience an economic slow down following the earthquake that has disrupted its activities. The quakes which were nine hours apart on Monday have on Friday recorded about 22000 deaths.  This was reported to be one of the deadliest earthquakes on earth. It has affected almost all […]

News

Fuel scarcity: We don’t buy petrol N172/litre, says IPMAN

  Wilson Adekumola Independent Petroleum Marketers Association of Nigeria on Friday, dispelled the reports going viral that its members were buying petrol at N172 per litre. IPMAN’s Chairman, Western Zone, Alhaji Dele Tajudeen, wille speaking in an interview with the News Agency of Nigeria in Ibadan described the report being circulated that IPMAN members were […]

JUST IN: Make new naira available, Council of State orders CBN
Economy featured

Make new naira available, Council of State orders CBN

Christian George The Council of State has ordered the Central Bank of Nigeria to make the newly redesigned naira notes available in large quantity to Nigerians. The Governor of Taraba, Darius Ishaku, made the disclosure to newsmen on Friday after the Council of State emergency meeting held in Abuja. He said, “the CBN was advised […]

An Adidas Yenzy shoe brand
Business

Adidas may lose $1.3 bn in 2023

Adidas may lose about $1.3 billion in 2023 if they are not able to sell their current Yeezy stock. Yeezy is a fashion collaboration between the American rapper, designer, and entrepreneur, Kanye West and the German sportswear brand Adidas. According to Reuters, the Adidas stated that it was deciding what to do with the inventory […]

Russia to cut oil output by 500,000 bpd
Business

Russia to cut oil output by 500,000 bpd

  By Christian George Russia is hoping to reduce its oil production by 500,000 barrels per day in March. Deputy Prime Minister Alexander Novak said on Friday after an imposed price caps on its oil as well as oil products. Reuters reported that the price of Brent crude rose on the news of the output […]

Wema Bank hits record N12.6bn profit
Business

Wema Bank hits record N12.6bn profit

Wema Bank has reported a 41.7 per cent growth in profit after tax of N12.64 billion in 2022, having made N8.92 billion in 2021.   According to the bank, its gross earnings stood at N129.3 billion in the full year of 2022, up 38.1 percent from N93.63 billion in the full year of 2021.   […]

A picture depicting a decline in currency, recession
Business

How UK narrowly escaped recession in 2022 – Report

The economy of the United Kingdom narrowly escaped recession at the last quarter of 2022. This was reported by Reuters according to the figures from the Office for National Statistics that was disclosed on Friday. The figures showed zero growth from October to December, 2022. It managed to escape the technical definition of recession. Reuters […]

Fuel scarcity eases gradually after five months
Oil and Gas

Fuel scarcity eases gradually after five months

FThe severe fuel scarcity that has plagued the country since November 2022 is gradually phasing out, as petroleum products are already being made available at filling stations with little or no queues.   This development follows the efforts of the Nigerian National Petroleum Company Limited, the Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers […]

Business

Scarcity: Accept POS payment, FG orders fuel stations

The Federal Government of Nigeria has ordered fuel stations to make use of Point of Sale and accept payment via bank transfers.nairafuel Following this order, it mobilised security officials on Thursday to monitor the activities of fuel stations. According to The Punch, it said the move was necessary because of the information received about the […]

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