The Central Bank of Nigeria (CBN) will soon come up with stringent measures to stabilise multiple exchange rate in the country. The CBN Acting Governor, Mr Folashodun Shonubi, disclosed this to State House Correspondents after a meeting with President Bola Tinubu on Monday in Abuja. Shonubi said...
BUSINESS
By MBAFAN ADE , Lagos – Ethiopian Airlines, the largest network operating carrier in Africa is pleased to announce that it will commence a thrice weekly services to/from London-Gatwick starting from November 21, 2023. The new service will be operational every Tuesday, Thursday and Sunday as per the...
A member of the People Democratic Party (PDP), National Presidential Campaign Council, Adetokunbo Pearse, says Nigerians have a right to know the actual landing cost of Premium Motor Spirit (PMS). Dr Pearse, speaking on Channels Television’s Sunrise Daily on Monday stated that a thorough scrutiny should be carried out on...
A shipper, Rev. Jonathan Nicole, has kicked against the sole collection of revenue by the Federal Inland Revenue Service (FIRS). Rev. Nicole, who is the former President, Shippers Association of Lagos State, disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday in Lagos....
By SOLA AFUYE, Abuja – The Shamies Unusual Hearts Foundation, a distinguished Abuja-based non-governmental organization (NGO), has embarked on a transformative mission to empower 20 people with invaluable skills to cushion the effect of the recent fuel subsidy removal, especially among the indigent in Nigeria. Held in Abuja on...
By PATRICK ABANG, Calabar – A coalition of UK and Nigeria based NGOs has used the International Day Against Witch Hunts on 10th August to call for government and key partners to join hands to implement the UN resolution on the elimination of witchcraft. According to the coalition,...
The Organisation of the Petroleum Exporting Countries (OPEC) has said that Nigeria’s economic growth in the first quarter of 2023 (1Q23) stood at 2.4 per cent year-on-year (y-o-y). OPEC made this known in its Monthly Oil Market Report for August obtained by the News Agency of Nigeria (NAN)...
Unless the National Assembly and the Presidency quickly wade into the current crisis rocking the Abuja Markets Management Limited (AMML), the situation could stultify the achievement of the objectives for which the company was established. The AMML, which was conceived by the Federal Capital Territory Administration (FCTA) during the...
By MBAFAN ADE, Abuja – The global momentum and impact of the energy transition have made it mandatory for players in the oil and gas sector to challenge their thinking and evolve innovative measures to mitigate the confounding effect of the energy transition, the Chief Executive of the...
The hike in the foreign exchange rate and activities in the international market may result to increase in the price of cooking gas, says the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM). The President of the association, Mr Olatunbosun Oladapo, issued the warning on Thursday in Lagos...
Naira depreciated against the dollar on Wednesday as it exchanged at N782.38 at the Investors and Exporters window. It lost by 3.38 per cent when compared with N757.51 for which it exchanged for the dollar on Tuesday. The open indicative rate closed at N778.49 to the dollar...
By TENEBE ANTHONIA, Lagos – With the aim of enhancing investor participation and securities lending transactions in the Nigerian capital market, the Securities and Exchange Commission (SEC), National Pension Commission (PENCOM) and Nigerian Exchange Limited (NGX) have reaffirmed their commitment to further developing the securities lending landscape....
The Chief Executive Officer (CEO), First Bank of Nigeria Ltd., Mr Adesola Adeduntan, says technology will drive financial inclusion and increase efficiency in the banking system as trends evolve globally. Adeduntan said this in Ibadan on Wednesday at the inauguration of the FirstBank Digital Xperience Centre, in the...
In a nationwide address last Monday, President Bola Tinubu announced some palliatives to mitigate the impact of the high cost of living brought about by the fuel subsidy removal. Great speech! Excellent delivery! So, kudos to Mr President! However, a section of Nigerians frowned at the speech because...
By DAVID IORJA, Abuja – President Bola Tinubu on Tuesday in Abuja expressed his resolute commitment to break the vicious cycle of overreliance on borrowing for public spending, and the resulting burden of debt servicing it places on the management of Nigeria’s limited government revenues. Inaugurating...
Pope Francis on Tuesday called for a global reflection on the potential dangers of Artificial Intelligence (AI), noting the new technology’s “disruptive possibilities and ambivalent effects.” Francis, 86, said in the past he does not know how to use a computer, issued the warning in a message for...
Elon Musk’s company Neuralink, which said it could connect the brain to a computer using neural implants, has raised another 280 million dollars from investors. The fresh funding round was led by technology investor, Peter Thiel’s venture capitalist Founders Fund, Neuralink said in a social media post on...
The government of President Bola Ahmed Tinubu should without delay toe the path of India government which recently imposed restrictions on import of laptops, tablets, all-in-one personal computers and ultra-small computers and servers with immediate effect. This is in the spirit of product nationalism whereby countries deliberately promote patronage...
By JOY ADARA, Abuja – For Nigeria to attain optimum tax revenue collection capacity across the Federal, States and Local Government tax authorities, the country must make hard but necessary reforms that would yield long term benefits. This was the position stated by the Chairman of the...
● Araraume says appeal by NNPCL against his reinstatement abuse of Court process Senator Ifeanyi Ararume has described as an abuse of court process, the appeal filed by the Nigerian National Petroleum Company Limited (NNPCL), seeking to upturn the judgment of a Federal High Court, which ordered his reinstatement...