Cabals benefit from petrol imports, frustrate local refineries –IPMAN
The massive imports of Premium Motor Spirit, popularly called petrol, using the United States dollar, will continue to put pressure on the naira and cause a further devaluation of the…
Banks tighten access to forex as reserves hit seven-month low
The country’s external reserves hit a seven-month low after falling to $38.57bn as of May 25, 2022, figures obtained from the Central Bank of Nigeria have revealed. Findings have shown…
New law’ll curb money laundering in real estate –SAN
The International Real Estate Federation, FIABCI-Nigeria, has expressed optimism that the recently passed Money Laundering Act will curb the rate at which funds are siphoned through the real estate sector.…
Lagos to inaugurate Imota rice mill in 10 weeks
The Lagos State Government has assured that the 32-metric tons per hour Rice Mill in Imota, Ikorodu division, will be ready for inauguration in 10 weeks. Ms Abisola Olusanya, the…
Marketers clash over price as cooking gas demand falls by 38%
National cooking gas demand has dropped by 38 per cent, according to the Nigerian Association of Liquefied Petroleum Gas Marketers. The revelation came on the heels of clamours by a…
Lagos runway repairs delayed, flights diverted to Ghana, others
There was pandemonium at the Murtala Muhammed Airport, Lagos on Saturday night as a seven-hour closure of the international runway for repairs later turned to a total closure of the…
Experts warn Nigeria as World Bank predicts global recession
Economic and financial experts have warned that Nigeria could face serious economic consequences if the global economy contracts into a recession, as predicted by the World Bank. The President of…
CBN loans to farmers hit N1tn amid high default rate
The total amount disbursed under the Anchor Borrowers Programme of the CBN rose to N1.01tn as of the end of April. Figures obtained from the CBN’s reports from members of…
Elon Musk’s Starlink to operate in Nigeria
Elon Musk, the billionaire tech entrepreneur, has announced that his satellite Internet service, Starlink, has been granted approval to begin operations in Nigeria. Musk made this known via his Twitter…
How to identify quacks in real estate – Expert
In this interview, the Chief Executive Officer, ElanOrris, Ayobami Alo, speaks on how to identify quacks in the real estate industry and the government's role in advancing the sector The…
Petroleum fund shortlists 8,800 for overseas scholarships
The Petroleum Technology Development Fund has shortlisted 8,800 applicants from 26,000 who applied for its overseas scholarship programme. This was disclosed on Monday by the Manager, Overseas Scholarship, PTDF, Bello…
Twitter shareholders sue Elon Musk for ‘unlawful conduct’
Shareholders of social media giant, Twitter, have filed a lawsuit against Elon Musk on grounds of “unlawful conduct” aimed at sowing doubt about his intention to finalise the acquisition deal…
