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Immigration blames CBN for shortage of Nigerian passports
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Immigration blames CBN for shortage of Nigerian passports

    By Christian George The Nigerian Immigration Service has pointed out that one of the greatest factors that culminate in the shortage of Nigerian passports is not unconnected with the Central Bank of Nigeria’s policy on foreign exchange regulation. This was made known by the service Comptroller-General, Idris Jere on Tuesday while appearing before […]

Why Abuja airport doesn't need another runway - Analysts
Aviation

Why Abuja airport doesn’t need another runway – Analysts

Analysts in the aviation industry have criticized the need for the construction of a second runway at Abuja airport. The Punch reported that the recent request by the National Assembly Joint Committee on Aviation has reignited the discussion among aviation stakeholders.  for the construction of a second runway at the Nnamdi Azikiwe Airport in Abuja […]

Business

Metaverse to contribute $760bn to US GDP by 2035 – Report

A study commissioned by the owner of Facebook, Meta Platforms, has revealed that Metaverse could contribute up to $760 billion, or about 2.4 per cent of the annual US gross domestic product by 2035. The report, conducted by consulting firm Deloitte and accessed by Reuters, suggests that economic gains could come from the use of […]

Amazon launches general-purpose AI agent Nova Act
Business

Amazon to open more warehouses in Europe

Amazon is planning to increase its presence in Europe by opening new warehouses and hiring more employees, despite the global economic downturn leading to cost-cutting measures and layoffs. According to Reuters, the company has invested €142 billion in Europe since 2010 and has seen growth in the region due to increased online shopping during COVID-19 […]

UAE cancels Airbus H225M helicopters deal
Business

UAE cancels Airbus H225M helicopters deal

The United Arab Emirates has reportedly cancelled a 2021 deal with Airbus to acquire twelve H225M Caracal multirole helicopters for around 800 million euros ($880.6 million). This was revealed following reports from Breaking Defense magazine. According to an official at the UAE’s defense and security acquisitions authority, Muammar Abdulla Abushehab, the decision was not politically […]

Logo and the photo of the Central Bank of Nigeria's building
Maritime

CBN to sanction shipping companies over undocumented cargoes

By Wilson Adekumola   The Central Bank of Nigeria has vowed to sanction shipping companies exporting undocumented cargoes from the country.   According to Vanguard, the CBN Governor, Godwin Emefiele made this known on Tuesday while speaking at the RT200 Non-Oil Export Summit 2023 in Abuja with the theme, “RT200: Challenges and Prospects”.   The […]

The vice president of Nigeria, Prof. Yemi Osinbajo
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Nigeria on track to full electrification – Osinbajo

Vice President, Prof. Yemi Osinbajo has stated that Nigeria is on track to achieving national energy access in the next decade. Osinbajo made this statement on Tuesday during the commissioning of the Afam3 Fast Power 240-megawatt turbine in Rivers State. The project, which was executed in collaboration with General Electric and the Federal Government is […]

Airtel
Business

Airtel Africa renews spectrum licence with N59b

A telecommunications company, Airtel Africa, has stated that its Nigerian subsidiary, Airtel Networks Limited, Airtel Nigeria, has paid N58.7 billion to renew its 2×10 MHz 2100 MHz spectrum license with the Nigerian Communications Commission. This information was disclosed in a statement made by the company’s Company Secretary, Simon O’Hara, accessed by Nairametrics. The statement also […]

Naira and Dollar displayed
Business

Naira drops as forex market records 29% decline

The value of the naira dropped against US Dollar due to a decline in the daily foreign exchange turnover by 29.15% in the official market. According to the data obtained by Business Day from the FMDQ on Monday, the market turnover declined to $99.33 million from $128.29 million on Friday. A financial market dealer whose […]

Nigeria, Turkey partner to promote automotive industry
Business

Nigeria, Turkey partner to promote automotive industry

The Nigerian government has collaborated with an automotive manufacturing entity located in Turkey to advance the country’s automobile sector. According to the News Agency of Nigeria, this was disclosed by the Director-General of the National Automotive Design and Development Council, Jelani Aliyu, in an interview with newsmen. Aliyu noted that the agreement was reached when he […]

LinkedIn to cut 700 jobs including China app
News

LinkedIn to cut 700 jobs including China app

LinkedIn, a social media site for business connections, has announced its intention to close its app for Chinese job seekers as well as lay off more than 700 employees. According to Aljazeera, following losses at Google, Meta, and Amazon, job cuts are the most recent layoffs to affect the technology sector in recent months. In response to the slow […]

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