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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

Banking

South Africa’s inflation rises to 3.1% as cost pressures

Economy

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Economy

High food prices’ll continue in Nigeria, others till 2023 –IMF

The International Monetary Fund says the impact of the war in Ukraine is likely to sustain pressure on commodity prices, affecting oil and gas prices severely in 2022 and food prices well into 2023 in Nigeria and other countries of the world. The Washington-based lender disclosed this in its ‘World Economic Outlook: War Sets Back […]

Energy

Cooking gas price jumps by 83% in one year –NBS report

THE average retail price for cooking gas increased by 83.62 per cent from N2057.71 in March 2021, according to a new report by the National Bureau of Statistics. The report titled, “Liquefied Petroleum Gas (Cooking Gas) Price Watch (March 2022),” indicated that the average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking […]

FG halts planned 5% tax on GSM calls, SMS
News Telecommunications

SIM-NIN: Telecom consumers set to sue FG, demand policy suspension

TELECOMMUNICATION subscribers under the aegis of the National Association of Telecoms Subscribers have said they are set to drag the Federal Government to court in May in a bid to temporarily suspend the government’s barring of subscribers’ outgoing calls. On Monday, April 4, the Federal Government ordered telecom companies to bar outgoing calls on all […]

Banking News

Kuda Bank defends customer’s harassment amid criticisms

KUDA Bank has said the event leading up to one of its customers being forcibly dragged out of its office by law enforcement officers is a result of the customer’s refusal to cooperate with the security agents after his account was flagged for criminal activity. In a statement on Kuda’s verified Twitter handle, the microfinance […]

Pension remittances: 20 firms default, pay N211.5m penalty
News

131,376 retirees withdraw N32bn, quit pension scheme

AT least 131,376 workers, who retired from active service, cannot be placed on monthly pensions, according to the National Pension Commission. Figures obtained from PenCom show that the affected workers have received all the contributions in their Retirement Savings Accounts totalling N32.58bn and quit the Contributory Pension Scheme. PenCom said the affected retirees had below […]

100% cashless economy possible in Nigeria - Emefiele
Economy News

External reserves return to growth path, gain $243.83m

Nigeria’s external reserves rose by $243.83m in 19 days, according to figures obtained from the Central Bank of Nigeria. The CBN revealed in its data on movement in reserves that the value rose from $39.54bn as of April 1, 2022 to $39.78bn as of April 19, 2022. The external reserves fell by $313m in March, […]

Flights to South-South most expensive - NBS
Uncategorized

Domestic, int’l passengers rise by 44%, hit 15.23million

Nigerian Airports witnessed increased patronage between January and December 2021, as the number of air travellers rose to 15.23 million from 10.55 m recorded in 2020. According to the latest Air Transport Report released by the National Bureau of Statistics, the figure includes domestic and international passengers. This means that air travellers across Nigerian airports […]

Anger as customs sell seized vehicles as scrap
News Ports and Airports

Maritime lawyers oppose 15% imported vehicle levy

AS the controversy surrounding the introduction of 15 per cent National Automobile Council levy on imported vehicles lingers, some maritime lawyers have demanded court intervention as a way of resolving the matter. The Nigeria Customs Service had recently introduced a 15 per cent NAC levy on used imported vehicles, a decision which didn’t go down […]

Banking News

10 banks lend customers N2.9tn in 12 months

Between December 2020 and December 2021, the combined loan portfolio of 10 Deposit Money Banks in Nigeria rose by N2.9tn, data collated from their audited financial statements show. The banks are Stanbic IBTC, Fidelity Bank Plc, Sterling Bank, Wema Bank, First City Monument Bank, Access Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa […]

Appointments

Temple Group appoints subsidiaries’ MDs

THE Group Managing Director of Temple Group Limited, Segun Obayendo, has announced the appointment of Mrs Ifeoma George-Oji as the managing director of Temple SYC Limited; and Mrs Chinwe Uwaegbute as managing director of Drivers Testing Resources Limited. Their appointments took effect on April 14, 2022. The firm said the announcement signalled the end of […]

Appointments

Abbey Mortgage gets acting MD

Abbey Mortgage Bank Plc says its Managing Director/Chief Executive Officer, Mr. Madu Hamman,  has been appointed as the new Managing Director of Federal Mortgage Bank of Nigeria, the apex mortgage bank in the country, by the President, Major General Muhammadu Buhari. As a result, the company said its board had also named Mr Mobolaji Adewumi, […]

Banking News

BoI Group records N62.28bn profit

The Bank of Industry Group on Tuesday said its profit before tax rose by 75 per cent to N62.28bn at the end of December 31, 2021, from N35.54bn recorded in the corresponding period of 2020. A statement from the bank on its financial performance said discounted for tax, the profit for the year under review […]

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