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Embrace skills, entrepreneurship, over white-collar jobs, Kwara urges youths

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FG deducts N256.5bn for gas projects in six months
Oil and Gas

FG mandates private employers adheres to N70,000 minimum wage

The Federal Government has mandated that agencies recruiting for the private sector adhere to the N70,000 minimum wage, warning that any deviations will not be tolerated. Emphasizing the necessity of the new minimum wage to reflect current economic realities, the government stated that no Nigerian worker, whether in public or private employment, should earn less […]

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Pension assets jumps to N20.79tn in July – PenCom

The Acting Director-General of the National Pension Commission, Omolola Oloworaran, has announced that pension fund assets under the Contributory Pension Scheme have increased to N20.79 trillion as of July 2024. Oloworaran shared this update during the Quarterly Consultative Forum for state and Federal Capital Territory pension bureaus, boards, and commissions held in Lagos on Wednesday. […]

News

NNPC-branded truck with stolen crude seized

Security agents have confiscated a truck bearing the logo of the Nigerian National Petroleum Company Limited for transporting stolen crude oil in the Niger Delta. This truck was one of several vehicles seized in recent efforts against oil theft. A visual report from the NNPC showed the truck surrounded by various security forces. The NNPC […]

News

Nigeria’s aviation rating hits 70.5 – Minister

Nigeria’s aviation rating has surged to 70.5, reflecting the country’s full compliance with the Cape Town Convention on dry-leasing of aircraft. This significant increase underscores Nigeria’s commitment to enhancing its aviation standards and attracting global investment. This was disclosed in a statement signed by the Special Adviser on Media and Communications to the Minister of […]

News

Heineken suspends loan interest to Nigerian Breweries amid financial reform

Nigerian Breweries PLC has received significant support from its parent company, Heineken, which disclosed that it has suspended interest payments on loans to the Nigerian subsidiary, as part of its ongoing financial restructuring efforts. This was announced by the Managing Director, Hans Essaadi during the “Facts Behind the Rights Issue” event at the Nigerian Exchange […]

Lagos plans CNG-powered buses by end of 2024
News

Lagos to partner Portugese firm for proposed Lekki-Epe International Airport 

The Lagos State Government is considering a collaboration with the Portuguese construction firm Mota-Engil Consortium to build the proposed Lekki-Epe International Airport. This initiative aims to reduce congestion at Murtala Mohammed International Airport and enhance infrastructure along the Lekki-Epe corridor. Governor Babajide Sanwo-Olu, currently on a two-day working visit in Portugal, shared the news through […]

Crypto

WazirX crypto hacker moves $11.6m in Ethereum to Tornado cash

The hacker responsible for the $230 million exploit of India’s largest cryptocurrency exchange, Wazir X, has transferred an additional $11.6 million in Ethereum to the notorious crypto mixer Tornado Cash. This latest transaction continues a pattern of using Tornado Cash to launder the stolen funds, making it increasingly difficult for authorities to track the assets. […]

News

FG not responsible for Dangote pipeline abandonment – Minister

The Ministry of Petroleum Resources (Gas), Ekperikpe Ekpo has addressed media reports regarding the Dangote Group’s abandonment of a proposed 1,200km subsea gas pipeline, stating that government policies were not responsible but a business decision for the company. This was disclosed in a statement signed by the Spokesperson to the Minister of Petroleum Resources (Gas), […]

Nigeria remains World Bank's third-largest debtor with $18.2bn IDA loans
News

Naira falls to N1,656/$1 amid Inflation slowdown

The exchange rate of the naira against the US dollar fell to N1,656.49 at the official Investor and Exporter (I&E) window, reflecting a 7.12% decline from N1,639.20 on September 13. This depreciation occurred despite recent data indicating a slowdown in inflation, which dropped from 33.40% in July to 32.15% in August. The naira’s recent fluctuations, […]

News

PenCom to integrate 60 million informal workers into pension scheme

The National Pension Commission has announced its initiative to integrate over 60 million informal workers into the national pension scheme. This strategic move aims to expand pension coverage and provide financial security to a significant portion of the workforce currently outside the formal pension system. The Commission is working on frameworks and policies to facilitate […]

News

Mobile, PoS systems lead fraud cases in Q2 – Report

Fraud cases involving computer, mobile, and point-of-sale systems dominated the fraudulent activities reported in Nigeria during the second quarter of 2024. According to the latest fraud report from the Financial Institutions Training Centre, a total of 11,532 fraud cases were recorded during this period. The rise in these cases highlights the growing vulnerabilities in digital […]

FG secures $163m AfDB loan for wheat production
News

Shettima pledges to resolve Air Peace landing right challenges

Vice President Kashim Shettima has pledged to engage with key stakeholders to address the bureaucratic challenges preventing Nigerian airline, Air Peace from securing landing rights at Heathrow Airport, one of the busiest airports in the world by passenger traffic. “It  is diplomacy. There is no quarrel, and the Vice President has vowed to meet with […]

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