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Billionaire Jeff Bezos sells $2bn Amazon shares
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Amazon to pay $30m settlement for spying on customers

Amazon has agreed to pay $30.8 million to resolve allegations that it breached customers’ privacy by spying on women in their homes. Aljazeera reported that the internet giant agreed to pay out $5.8m after the US Federal Trade Commission claimed that a former Amazon employee had used Ring security cameras installed in bathrooms and bedrooms to […]

CBN fines banks N1m daily over refusal of new naira
featured News

BREAKING: CBN denies naira devaluation

The Central Bank of Nigeria on Thursday, June 1, has denied devaluing the naira.   Recall that, in the early hours of Thursday, reports were in circulation that the apex bank had devalued the naira from N461.6/$1 to N631/$1.   However, in a more recent statement signed and issued by the the CBN through its […]

Nigerian-Indonesian trade hits $4.7bn - NICCI
Business

Nigerian-Indonesian trade hits $4.7bn – NICCI

Nigeria-Indonesia trade has exceeded expectations, reaching $4.7 billion, beyond the initial aim of $4 billion. Nairametrics reported that the President of the Nigerian-Indonesian Chamber of Commerce and Industry, Mr. Ishmael Balogun, said this on the second day of the Equipment and Manufacturing West Africa 2023 Exhibition and Conference on Wednesday in Lagos. According to the NICCI, the […]

NLC rejects new petrol pump prices
News

NLC rejects new petrol pump prices

The Nigeria Labour Congress has rejected the Nigerian National Petroleum Corporation Limited’s revised pump price for petrol. According to the Daily Trust, the NNPCL has instructed all of its stores to sell petrol for between N480 and N570 per litre. The price change, according to NNPC Ltd.’s Chief Corporate Communications Officer, Garba Deen Muhammad, was decided to […]

News

FG workers, military’s May salaries to be delayed

Nigerian civil servants under the employment of the Federal Government are expected to experience a delay in the payment of May salaries.   According to The PUNCH, this development is because Ministries, Departments and Agencies were yet to get debit approval from the Central Bank of Nigeria.   In a memo addressed to workers of […]

BREAKING: NNPCL confirms new petrol pump price increase
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BREAKING: NNPCL confirms new petrol pump price increase

  The Nigerian National Petroleum Company Limited has confirmed the increase of the petrol pump prices by more than 200 percent. This puts the cost of fuel between N488 and N557 per litre across the 36 states of the Federation. The petroleum agency revealed this through a press statement signed by Chief Corporate Communications Officer, […]

Fuel subsidy is gone, Tinubu tells Nigerians
Opinion

Subsidy: Tinubu brought Nigerians tears, sorrow, says NLC boss

Alex Omenye   The president of the Nigerian Labour Congress, Comrade Joe Ajaero has described as insensitive the removal of fuel subsidy by President Bola Tinubu.   “By his insensitive decision, President Tinubu on his inauguration day brought tears and sorrow to millions of Nigerians instead of hope. He equally devalued the quality of their […]

Subsidy: NNPCL alleged new price template goes viral
News

Subsidy: NNPCL alleged new price template goes viral

  The Nigerian National Petroleum Company Limited has increased petrol pump prices by more than 200 percent, putting the cost of fuel to between N488 and N557 per litre. According to a copy of a revised pricing template allegedly issued to oil merchants late yesterday by the NNPCL management, the new price adjustment was to […]

NEITI to release old data, says global body
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Nigeria spent $74bn on fuel subsidies 16 years – NEITI

The Nigeria Extractive Industries Transparency Initiative has revealed that Nigeria spent $74.39 billion, or N13.69 trillion, on fuel subsidies between 2005 and 2021. According to Nairametrics, they commended President Bola Tinubu’s subsidy removal, stating that it is a good thing as they urged him to put the conclusions and suggestions from the NEITI reports into practice. This information was […]

United Capital endorses CBN's stakeholder partnership
News

Why banks’ borrowings from CBN keep increasing – Report

CBN findings have revealed that banks’ borrowings from the apex bank, which had decreased month over month in February of this year by 14%, abruptly skyrocketed by 775 percent to N3.97 trillion in March before falling by 45.8 percent to N2.15 trillion in April. According to Vanguard, the information also revealed that bank deposits under […]

Why FG should reveal names of subsidy beneficiaries - NLC
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Fuel subsidy: FG to meet NLC on Wednesday

Juliet Buna Representatives of the Federal Government are expected to meet with the Nigeria Labour Congress today by 2 pm over the planned removal of fuel subsidy. The NLC National President, Joe Ajaero, made the disclosure during an interview with Channels Television on Wednesday morning President Bola Tinubu had declared that there would no longer […]

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