With the International Monetary Fund throwing its weight behind the Central Bank of Nigeria’s plan to shift policies supporting foreign exchange restrictions and devaluation, stakeholders raise alarm over the nation’s economic outlook. The Monetary Policy Committee of the CBN spread panic on Tuesday when it released a communique hinting at long periods of harsh economic […]
Continue ReadingThe Tony Elumelu Foundation and United Bank for Africa Plc (UBA) partnered with the United States Department of Commerce to host a panel and roundtable discussion between members of the U.S. Presidential Council on Doing Business in Africa (PCDBIA)and a diverse community of African entrepreneurs. The 11 person U.S. delegation, along with representatives of several […]
Continue ReadingThe Nigerian National Petroleum Corporation (NNPC) mega station at the Central Business District in Abuja has been gutted by fire. A member of staff at the mega station who preferred anonymity told the News agency of Nigeria (NAN) on Monday that the fire started around 10pm on Sunday when a tanker was discharging fuel. The […]
Continue ReadingThe petroleum sector in Nigeria has witnessed yet another major change, this time, it is an increase in the price of Kerosene as from N50 to N83 per litre, as announced by the Petroleum Products Pricing Regulatory Agency, PPPRA. The new products pricing template was released on Sunday in Abuja. The agency stated that the […]
Continue ReadingIf you are a current account holder in Nigeria, then this is a bad news because Nigerian banks have been able to come up with a plan that will enable them extort customers.It would be recalled that the CBN has ordered banks to stop deducting Cost of Transaction on customers accounts with effect from this […]
Continue ReadingA fire outbreak on Tuesday, reportedly gutted the Nigerian National Petroleum Corporation (NNPC), Mega Station in Dutse, Jigawa State. This is as reported by the News Agency of Nigeria. An anonymous staff of the station, told NAN that a 40,000-liter tanker, which brought petroleum, caught fire while offloading. The source said the incident happened at […]
Continue ReadingGlobal electronic payments company Visa, has partnered with United Bank of Africa Plc (UBA) to launch “SmartMoney”, a 21st century banking solution comprising a prepaid card and a mobile app for the African market. The partnership brings together Visa Inc’s trusted payments technology and SmartMoney’s mobile app experience to establish a millennial centric product proposition, […]
Continue ReadingSome embittered workers of the National Mirror and Newswatch Times on Monday 18th January, 2016, stormed the Nicon Luxury, Abuja, venue of the Global Fleet Group annual management conference as the group managing director and publisher of two newspapers, Jimoh Ibrahim, was delivering a lecture to top management staff of the company. The workers lamented […]
Continue ReadingNATCOM Consortium, the parent company of Nigeria Telecommunications (NITEL) and its subsidiary Nigerian Mobile Telecommunications Limited (M-Tel), is planning to roll out 4G LTE services in March this year, initially covering Lagos, Abuja and Port Harcourt. The NATCOM chairman, Olatunde Ayeni said that NATCOM has invested USD1 billion into NITEL/M-Tel since its acquisition last year, when the former gained access to […]
Continue ReadingTHE Manufacturers Association of Nigeria (MAN) has faulted the Nigerian Electricity Regulatory Commission’s (NERC’s) Multi-Year Tariff Order (MYTO), especially the fixed charges. Its President, Dr Frank Udemba Jacobs, said that with the poor supply of electricity, there would be an increase in the cost of production of manufacturers and this would translate to higher prices […]
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