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United Capital endorses CBN's stakeholder partnership
Banking

CBN raises interest rate to 18.5%

The Central Bank of Nigeria has announced its increase of the Monetary Policy Rate from 18% to 18.5%. Channels TV reported the governor of CBN made this announcement on Wednesday after the policy-making committee had a meeting at the CBN headquarters in Abuja. As a result of this development, the apex bank will be increasing […]

Nigerians in the UK face job loss over sponsorship eligibility
Economy

UK’s inflation drops to lowest first tine in one year

Britain’s inflation rate dropped its lowest level in more than a year in the month of April 2023 as the effects of the surge in energy prices in 2022 started to ease.   Britain’s Office for National Statistics, on Wednesday, reported that consumer prices in Britain rose 8.7 per cent from a year earlier, the […]

Logo of the transmission company of Nigeria
Electricity

TCN blames vandals for Ogun power outage

By Wilson Adekumola   The General Manager Public Affairs of the Transmission Company of Nigeria, Ndidi Mbah has attributed the power outage in Abeokuta and its environs to the collapse of nine of its towers as a result of the activities of vandals.   Mbah made this known in a statement on Tuesday saying, “Tower […]

CBN releases financial report first time in seven years
Banking

Full list of microfinance banks delicensed by CBN

Kazeem Owoseni The Central Bank of Nigeria has revoked the operating licences of 132 microfinance banks, three finance companies, and four primary mortgage banks in Nigeria. This was disclosed in an official gazette issued by the federal government, which stated that the governor of the apex bank, Godwin Emefiele revoked the licences of the institutions […]

Minister of Interior, Rauf Aregbesola
Business

Staff welfare upgrade vital for improved security – FG

The Federal Government has identified Investment, improved staff welfare, and incentives as key factors contributing to improved performance, especially in the security sector. According to The Punch, the Minister of Interior, Rauf Aregbesola, highlighted this during the inauguration ceremony of the renovated parade ground, staff quarters, and office complex for retired civil defence officers in […]

NNPC, First E&P provide free healthcare in host communities
Oil and Gas

NNPC resumes Borno oil exploration after six years pause

The Nigerian National Petroleum Company Limited has begun oil drilling in Borno state’s Lake Chad Basin. Daily Trust reported that The President, Major General Muhammadu Buhari is anticipated to participate virtually at the Wadi-B oil well drilling event in the Tuba town of Jere Local Government Area. The project is being carried out by the NNPC Frontier […]

Ekiti Airport
Business

Ekiti cargo airport to begin operations October

The former technical adviser on the Ekiti State Cargo International Airport, Air Vice Marshal Adeniyi Ojuawo (retd), said on Tuesday that commercial operations at the airport would start in October. Ojuawo who is a member-elect of the House of Representatives, hinted that the runway of the airport, initiated during the tenure of former governor, Dr […]

LGBTQ+ focused bank Daylight shuts down
News

LGBTQ+ focused bank Daylight shuts down

  An LGBTQ+ banking platform, Daylight, is shutting down it’s operations. According to the CEO, Rob Curtis, the bank will cease operations on June 30. This comes months after New York Magazine published an explosive feature on the neobank. New York Magazine’s feature talked about the lawsuit filed by three former employees on the inappropriate […]

Group urges president-elect to create enabling environment for private sector
Economy

Economic group tells Tinubu how to end rising inflation

An economy oriented group has urged the incoming government of President-elect, Bola Ahmed Tinubu, to address foreign reserves inadequacies as the solution to rising inflation.   In April, the National Bureau of Statistics announced in its latest Consumer Price Index that the country’s inflation rate is 22.22 per cent.   The Chief Executive Director of […]

IPMAN threatens strike over Soludo's taxation
Business featured

How Dangote Refinery will tackle fuel scarcity, import issues – IPMAN

Nigeria’s Independent Petroleum Marketers Association of Nigeria has said that the opening of the Dangote refinery would solve the country’s problems with fuel import and scarcity. Nairametrics reported that the Chairman of IPMAN and Enugu Community Depot in charge of Anambra, Ebonyi, and Enugu State, Mr. Chinedu Anyaso, revealed this in Awka while he gave a speech on Monday. The […]

Lagos Free Zone will boost Nigeria's economy with N12bn - MD
Economy

Lagos Free Zone will boost Nigeria’s economy with N12bn – MD

The Managing Director/Chief Executive of the Lagos Free Zone, Mr. Dinesh Rathi, has reported that the Lagos Free Zone is anticipated to contribute $12 billion annually to Nigeria’s Gross Domestic Product by 2032. Vanguard reported that Rathi stated: we currently have 24 operating companies inside the zone, once we have 150 to 160 operating companies inside […]

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