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Ports and Airports

Funding hinders anti-corruption fight at ports, says ICPC

The Independent Corrupt Practices and Other Related Offences Commission has blamed limited funding for agency’s inability to effectively fight corruption at the nation’s ports. The anti-graft agency in a statement on its official Facebook page also reiterated its commitment to tackling corruption at the Nigerian ports. The ICPC Chairman, Professor Bolaji Owasanoye, a Senior Advocate […]

100% cashless economy possible in Nigeria - Emefiele
Banking

Why CBN can’t float exchange rate –Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that despite calls and recommendations by the International Monetary Fund, the World Bank and other global financial institutions, Nigeria cannot afford to operate a floated exchange rate system. Emefiele made this known at the IMF/World Bank Spring Meetings in Washington DC, United States. […]

100% cashless economy possible in Nigeria - Emefiele
Oil and Gas

Dangote Refinery’ll reduce import bill by 40% – Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele, says Dangote Refinery will reduce Nigeria’s import bill on petroleum products and other commodities by 40 per cent. He said this during an interview at the International Monetary Fund meeting in Washington Dc, United States on Thursday. Emefiele said, “With Dangote Refinery coming up with […]

How Nigeria’s refineries lost 218 workers, N69bn
Oil and Gas

Reps allege cover-up on refineries, summon Sylva, Kyari

The House of Representatives’ Ad Hoc Committee on the State of Refineries in Nigeria has summoned the Minister of State for Petroleum Resources, Timipre Sylva, and the Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari. The officials of the management of the nation’s refineries were also summoned to appear before the […]

Why oil theft estimates are unrealistic- Navy
Oil and Gas

Oil price rises as OPEC projects steady demand growth

Brent, the global benchmark for crude oil, rose marginally in price on Thursday, as the Organisation of Petroleum Exporting Countries projected that the demand growth for oil would continue this year. Industry figures showed that Brent moved up by $0.77 or 0.72 per cent to $107.57/barrel at about 7.13pm Nigerian time. It had traded around […]

Economy

High food prices’ll continue in Nigeria, others till 2023 –IMF

The International Monetary Fund says the impact of the war in Ukraine is likely to sustain pressure on commodity prices, affecting oil and gas prices severely in 2022 and food prices well into 2023 in Nigeria and other countries of the world. The Washington-based lender disclosed this in its ‘World Economic Outlook: War Sets Back […]

Energy

Cooking gas price jumps by 83% in one year –NBS report

THE average retail price for cooking gas increased by 83.62 per cent from N2057.71 in March 2021, according to a new report by the National Bureau of Statistics. The report titled, “Liquefied Petroleum Gas (Cooking Gas) Price Watch (March 2022),” indicated that the average price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking […]

FG halts planned 5% tax on GSM calls, SMS
News Telecommunications

SIM-NIN: Telecom consumers set to sue FG, demand policy suspension

TELECOMMUNICATION subscribers under the aegis of the National Association of Telecoms Subscribers have said they are set to drag the Federal Government to court in May in a bid to temporarily suspend the government’s barring of subscribers’ outgoing calls. On Monday, April 4, the Federal Government ordered telecom companies to bar outgoing calls on all […]

Banking News

Kuda Bank defends customer’s harassment amid criticisms

KUDA Bank has said the event leading up to one of its customers being forcibly dragged out of its office by law enforcement officers is a result of the customer’s refusal to cooperate with the security agents after his account was flagged for criminal activity. In a statement on Kuda’s verified Twitter handle, the microfinance […]

Pension remittances: 20 firms default, pay N211.5m penalty
News

131,376 retirees withdraw N32bn, quit pension scheme

AT least 131,376 workers, who retired from active service, cannot be placed on monthly pensions, according to the National Pension Commission. Figures obtained from PenCom show that the affected workers have received all the contributions in their Retirement Savings Accounts totalling N32.58bn and quit the Contributory Pension Scheme. PenCom said the affected retirees had below […]

100% cashless economy possible in Nigeria - Emefiele
Economy News

External reserves return to growth path, gain $243.83m

Nigeria’s external reserves rose by $243.83m in 19 days, according to figures obtained from the Central Bank of Nigeria. The CBN revealed in its data on movement in reserves that the value rose from $39.54bn as of April 1, 2022 to $39.78bn as of April 19, 2022. The external reserves fell by $313m in March, […]

Flights to South-South most expensive - NBS
Uncategorized

Domestic, int’l passengers rise by 44%, hit 15.23million

Nigerian Airports witnessed increased patronage between January and December 2021, as the number of air travellers rose to 15.23 million from 10.55 m recorded in 2020. According to the latest Air Transport Report released by the National Bureau of Statistics, the figure includes domestic and international passengers. This means that air travellers across Nigerian airports […]

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