Dollar conversion: CBN to block bank customers’ account
The Central Bank of Nigeria has said it will place A 'Post no Debit’ on the accounts of customers, especially politicians, converting the naira to the dollar as electioneering spending…
NNPC becomes commercial entity amid fuel scarcity
The President, Major General Muhammadu Buhari (retd.) officially unveiled the new brand of the Nigerian National Petroleum Company Limited on Tuesday, at the State House, Abuja, to usher in some…
Bread scarcity looms as bakers threaten strike
The Association of Master Bakers and Caterers of Nigeria has issued a two-week ultimatum to the Federal Government to address various challenges facing the industry. The Kogi State Chairman of…
Aero Contractors suspends operations
Aero Contractors has announced the temporary suspension of its operations in Nigeria over the country's economic crisis. Nigeria’s oldest airline made this known in a statement released on Monday. The…
Uber settles US lawsuit for overcharging persons with disabilities
Uber will offer several million dollars in compensation to tens of thousands of passengers with disabilities who were charged extra fees, US prosecutors said Monday. The case brought by the…
Nigeria’s inflation hits 20%, surpasses World Bank’s projection
Nigeria’s inflation rate is now at 20 per cent, 0.5 per cent above the World Bank’s projection of 15.5 per cent, despite raising its Monetary Policy Rate (interest rate). In…
Nigeria’s inflation hits 18.6%, highest in five years
The Consumer Price Index, which measures the rate of change in prices of goods and services, surged to 18.60 per cent in June 2022, up from 17.71 per cent in…
Car sales slump 14% in six months – Report
European auto sales slumped by 14 per cent in the first half of this year, data showed Friday, as supply shortages continued to plague manufacturers. With the lack of computer…
PMS at N165/litre not sustainable – Oil marketers
The Association of Oil Marketers in Nigeria on Wednesday said that the sale of Premium Motor Spirit also known as petrol is not sustainable at N165/litre. The Independent Petroleum Marketers…
Court orders MultiChoice to sublicense channels
An Appeal Court sitting in Port Harcourt, the Rivers State capital, has ordered entertainment company, MultiChoice, to sublicense some channels to a satellite company, Metro-digital. The court ruled pursuant to…
Efficient energy valuable than infrastructure – Petroleum expert
A petroleum expert, Bala Zaka, has said that affordable and efficient energy is more necessary for businesses than infrastructure. Zaka, who is also a Technical Director at Template Design Limited,…
10 bank directors share N6.9bn allowance
Ten bank directors have shared N6.96bn executive compensation, fees and sitting allowances. The amount represents an increase of 3.32 per cent from the N6.74bn the directors received in 2020. United…
