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Nvidia CEO rejects claims AI could wipe out humanity

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Agents protest as customs hike imported vehicle duty

Following the Nigeria Customs Service’s decision to increase duty on imported automobiles by 10%, freight forwarders have predicted a congestion at the nation’s seaports due to the influx of imported vehicles. According to The PUNCH, the agents accused the service of effecting 10 per cent duty increase but failed to apply the 10 per cent […]

Debt
News

Rising debt profile not sustainable, says OPS

  The Lagos Chamber of Industry as well as the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture have stated that the current debt profile is not sustainable. According to The PUNCH, the agency through its Director-General, Patience Oniha, said this during the public presentation of the 2023 budget organised by the Minister […]

Pollution: Shell to pay Nigerian farmers €15m compensation
News

Shell to pay first tax in UK since 2017

Following significant global gains last year, Shell has announced that it will pay taxes in the UK for the first time since 2017. In the last three months of the year, the energy company predicted that profits in the UK and the EU would “take a knock” of about $2 billion (£1.7 billion). In order […]

Oil and Gas

NUPRC shortlists 139 firms for gas flare trading

The Nigerian Upstream Petroleum Regulatory Commission has selected 139 companies from a total of 300 applicants to participate in the Nigerian Gas Flare Commercialisation Programme 2022. The upstream petroleum regulator announced on Friday that 300 companies had expressed interest, including those who had already submitted proposals. In order to prevent gas flaring from oil production […]

Banking

PennyTree redesigns app to improve retail banking

Nigerian Fintech company, PennyTree, has redesigned its mobile app to provide retail banking services for individuals and merchants looking to scale and grow their business operations.   The Co-founder of PennyTree, Abayomi Ogunjobi, announcing the launch on Thursday, explained that the new direction is a necessary solution designed to help individuals make the most of […]

News

CBN halts ‘over-the-counter’ withdrawal of new notes

  The Central Bank of Nigeria has directed deposit money banks not to pay customers who make over-the-counter withdrawals of fresh naira notes. To guarantee that the money circulates across the country prior to the deadline of January 31, 2023, when the old notes will no longer be accepted as legal tender, the central bank […]

Kogi residents lament scarcity of new naira note
News

New naira same as old notes, stains white surfaces – NSPM

  Nigerian Security Printing and Minting Plc has drawn attention to some of the new naira notes’ features in an effort to educate Nigerians who have voiced concerns about the notes’ quality. The company underlined the need to educate Nigerians about the new Naira’s attributes in a statement released on Friday and signed by NSPM’s […]

Banking

Zenith Bank suspends international transactions on naira cards

Zenith Bank Plc. has suspended international transactions on naira cards.   The bank, in a notice to its customers on Thursday, said the latter will no longer be able to carry out any international transaction on their naira debit cards effective from Monday, January 9.   The notice read, “Please be informed that you will […]

Opinion

Low demand for Nigeria’s LPG to affect forex earnings – Expert

A senior analyst at Financial Derivatives Company, Oluwatomi Mayowa, has projected a decline in demand for Nigeria’s natural gas, which will subsequently reduce the amount of foreign exchange earned through exports.   This projection is as a result of the fall in global natural gas prices by over 50% in January, while, noting that natural […]

Tweeps knock FG as fuel scarcity leaves commuters stranded
News

NMDPRA seals fuel stations in Kano over price hike

  Several Kano gasoline stations were closed on Thursday by the Nigeria Mainstream and Downstream Petroleum Regulatory Authority. According to Guardian, the fuel stations were closed down by the former Department of Petroleum Resources enforcement team of the Kano zonal office for selling goods above the permitted price. Prices ranging between N300, N290, and N295 […]

News

Why FG should keep fuel subsidy- Sowore

  The presidential candidate of the African Action Congress, Omoyele Sowore, has stated that the fuel subsidy should not be removed. According to him, the removal of the fuel subsidy will only add to the sufferings of Nigerians. He stated this during an interview on Arise TV on Thursday. He said the fuel subsidy should […]

Electricity

EEDC to begin mapping for mass metering in Anambra

The Enugu Electricity Distribution Company has said it would begin the 2023 mobile mapping process for mass metering in Anambra state on January 10.   The Head, Corporate Communications of EEDC, Emeka Ezeh, said this in a statement on Thursday, according to The News Agency of Nigeria.   He stated that this measure was to […]

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