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

New naira: Customers flood Kebbi bank one week to CBN deadline

  As the deadline for the use of old naira notes draws closer, some customers in Birnin Kebbi, Kebbi State capital, on Monday, flocked to banks to deposit or withdraw cash and voiced concerns about the new naira notes’ limited availability. According to The Punch, many customers complained that they have been there for more than […]

How Nigerian banks performed first half of 2022
Banking

Banks lending rate to customers hits 29.13%

  As of the end of December 2022, the maximum loan rate in the banking industry was 29.13%, while the return on savings deposits was 4.13%. Data on money market indicators received from the Central Bank of Nigeria were made public on Monday. The report states that the prime loan rate was 13.85% and the […]

FIRS hits record N10.1trn tax revenue in 2022
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FIRS hits record N10.1trn tax revenue in 2022

The Federal Inland Revenue Service has announced that it collected over N10 trillion in tax revenue in the year 2022, the highest tax collection ever recorded in its history. Special Assistant to the Executive Chairman, FIRS on Media & Communication, Johannes Wojuola made this known via in its “FIRS 2022 Performance Update,” report signed by […]

10 facts about the Lekki deep seaport
Business featured

10 facts about the Lekki deep seaport

The Lekki deep sea port, a part of the Lagos Project Festival is fully completed and is to be commissioned today in Lagos by the President, Major General Muhammadu Buhari (ret.d). AMBusiness reports that the port is intended to serve as a major hub for cargo and passenger traffic in West Africa and is expected […]

Bayelsa Airport
Aviation

Lagos airport passengers stranded over NAHCO staff strike

  The Nigerian Aviation Handling Company employees, who are being led by the unions, have begun an indefinite strike which is causing several international and local flights at the airport to be grounded. This morning, passengers at the Murtala Mohammed International airport, Lagos, were left stranded at the airport following an industrial action by members […]

Jet A1 hike threatens airlines' existence - Ibom Air COO
News

Subsidy: Petrol may hit N800/litre, says marketers

  Oil marketers have revealed that if the Federal Government goes ahead with its plan to remove the subsidy on Premium of Motor Spirit, popularly called petrol, the cost of the commodity would cross N800/litre. It has been widely reported by those working in the oil industry that the high price of gasoline subsidies has […]

Monarchs begs CBN to extend old naira deadline
Economy

MPC meets over interest rate hike

  The Monetary Policy Committee meeting of the Central Bank of Nigeria is expected to meet on Monday to proffer solutions to the recent rise in interest rates. According to The PUNCH, the meeting is expected to hold between the 28th to 29th in Abuja. Cordros Securities analysts expect a rate hike after the meeting, […]

Business

S’East traders, transporters lament multiple taxes

  Traders and transporters in the South Eastern part of the the country have expressed their grievances over the undue collection of taxes and levies, particularly by touts and market unions in this region. According to Vanguard, these category of residents revealed their concerns in a survey conducted on the Effects of Multiple taxes on […]

Buhari
News

Buhari to flag-off Lagos deep sea port, rice mill

  The President, Major General Muhammadu Buhari (retd.), is expected to inaugurates the Lagos deep sea port project among other projects in the State on Monday. According to the Nation, this is part of the activities of the President, who will be having a two day working visit to the State. During the visit, Buhari, […]

News

Petroleum Minister to secure new capital for Nigeria at London event

  The African Energy Chamber has proudly announced that the Minister of State for Petroleum Resources of Nigeria, Timipre Sylva, will be leading the investment-focused discussion at the Invest in Africa Energy Reception slated to hold on January 26 in London. AEC says the participation of Minister Sylva is essential for securing new capital for […]

FG owes N100bn electricity bill debt - Distributors
Electricity

Electricity: SERAP sues Buhari over tariff hike

Oluwanifemi Ojo     The Socio-Economic Rights and Accountability Project has filed a lawsuit against the President, Major General Muhammadu Buhari(retd.), over “the failure to reverse the unlawful, unjust, and unreasonable increase in electricity tariff, and to probe the spending of public funds as ‘investments and bailouts’ to DisCos and GenCos since 2005.”   Attorney-General […]

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