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Electric car demand rises in Europe amid Middle East

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Dangote Sugar exceeds N1tn market cap level 

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New naira note: CBN insist on January 31st deadline
Banking

We’re not hoarding new naira, banks debunk CBN’s claims

Oluwanifemi Ojo   Commercial bank operators in Nigeria have disputed assertions made by the Central Bank of Nigeria that they are hoarding naira notes despite having enough supply.   The claims of the Central Bank of Nigeria were countered by the officials of commercial banks that appeared before the ad hoc committee of the House […]

News

How CBN raised interest rate from 11.5% to 17.5% in eight months

  The Central Bank of Nigeria has raised its benchmark interest rate five times since May 2022. The bank had retained its 11.5 percent interest rate for six years before the consecutive increases that happened from May 2022 to January 2023. During this period, the Monetary Policy Rate was raised from 11.5 percent benchmark to […]

News

FCCPC extends digital money lenders registration deadline

  Bisola David The Federal Competition and Consumer Protection Commission stated on Friday that the registration deadline for online money lenders would be extended. The procedure has been extended to March 27, 2023, according to a statement made by the commission’s Chief Executive Officer, Babatunde Irukera, and provided to The Punch. According to him, the […]

News

Nigeria-Niger Rep rail project would increase trade, says FG

  Bisola David The Nigeria-Niger Republic rail project, according to the federal government, will increase trade and other socioeconomic exchanges between the two nations. The Punch reported that the minister in charge of the ministry, Mu’azu Sambo, said this on Thursday in Abuja at the signing of a Memorandum of Understanding on the project between […]

Business featured

Nigeria, India commerce volume hit $14b in 2022

Nigeria and the Republic of India conducted $14.95 billion worth of commerce in 2022. At the 74th Republic Day of India, in Abuja, the Indian High Commissioner to Nigeria, Gangadharan Balasubramanian, revealed this. According to Balasubramanian, between 2021 and 2022, India bought ten and a half billion dollars’ worth of oil from Nigeria. According to […]

Business

Why tech firms are laying off staff

Oluwanifemi Ojo     From last year, tech giants have embarked on job cuts, and the question of every employee will likely be who’s next to announce downsizing after the likes of Twitter, Spotify, and Microsoft among others.   Since the year began, world’s leading tech companies have been announcing the laying off of staff. […]

News

How Southerners paid more for kerosene in Dec 2022 – Report

  Bisola David The National Bureau of Statistics has said that according to information on its website, it has been discovered that Nigerians in the southeast of the country paid the highest kerosene prices in December 2022. The Punch also reported that Nigerians in the South East region spent an average of N1,203.95 per litre […]

News

‘FG committed to creation of Ekiti free trade zone’

The Federal Government has reiterated its commitment to establishing a free trade zone in Nigeria. According to The PUNCH, this was disclosed by the Managing Director of the Nigeria Export Processing Zone Authority, Prof. Adesoji Adesugba, during a courtesy visit to the state governor, Biodun Oyebanji in Ado-Ekiti, the state capital, on Thursday. Adesugba said […]

How VIN affected vehicle importation - Customs
Business featured

How VIN affected vehicle importation – Customs

The Nigeria Customs Service has said that the implementation of the Vehicles Identification Number for clearing imported vehicles resulted in a 40% decrease in imported vehicles in 2022 through its Ports & Terminal Multipurpose Limited Command. The acting Assistant Comptroller General and the command’s outgoing Controller, Suleiman Bomai, said this while outlining the command’s actions […]

Senate ask CBN to extend deadline of new naira note
Banking

Extend old, new naira deadline, NLC urges CBN

Wilson Adekumola     President of the Nigeria Labour Congress, Comrade Ayuba Wabba, on Thursday, has urged the Governor of Central Bank of Nigeria, Godwin Emefiele to extend the date for the expiration of old naira notes adding that it would affect the lives of people in the rural areas.   Comrade Wabba made this […]

Economy

Encourage local production, Femi Adesina urges Nigerians

Wilson Adekumola     The Special Adviser on Media to the President, Femi Adesina, has urged consumers to patronise locally produced goods, especially in the agricultural sector.   He stated that more citizens will be financially encouraged when locally manufactured goods are patronized.   He made this call at a one-day seminar/exhibition organised by Zakclair […]

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