CBN speaks on Inflation Rate The Central Bank of Nigeria’s governor, Olayemi Cardoso, has assured that the Monetary Policy Committee will take all necessary measures to combat and control the country’s ongoing inflationary pressures. The CBN’s hawkish stance on inflation had become obvious from the first MPC[Read More…]
Dangote ranks 6th richest in global manufacturing Aliko Dangote has been ranked as the world’s sixth richest person in the manufacturing industry. Dangote whose net worth is put at $14.3 billion is the founder of Dangote Cement, the leading cement producer in Africa, in which owns about 85[Read More…]
Tinubu orders suspension of Cybersecurity levy President Bola Tinubu has told the Central Bank of Nigeria (CBN) to suspend the implementation of the cybersecurity levy policy. This comes after the policy was greeted with widespread condemnation. According to the Act, a levy amounting to 0.5 per cent of[Read More…]
NCAA Audit: Dana Air Lays Off Workers Temporarily Dana Air has announced that it is temporarily laying off some of its workers amid an ongoing operational audit by the Nigerian Civil Aviation Authority (NCAA). The airline has stated that the decision was made to ensure efficient management of resources[Read More…]
American Express Unveils Business Credit Card for Nigeria Users American Express Co. has unveiled its first business credit card in Nigeria through a collaboration with local neobank O3 Capital, potentially enhancing dollar accessibility for businesses in the West African nation. The new card, introduced on Thursday in Lagos,[Read More…]
CBN orders Banks to suspend charges on Deposits till September The Central Bank of Nigeria (CBN) has ordered deposit money banks and financial institutions to suspend processing fee on deposits till September 30, 2024. In a circular, the apex bank ordered that financial institutions suspend processing charges imposed[Read More…]
Cadbury Finance Director in Nigeria, Ogaga Ologe resigns Cadbury Nigeria Plc, a food, sweets and drink company headquartered in Lagos, Nigeria has announced the resignation of Ogaga Ologe as its finance director which will be effective on July 22, 2024. This is according to a statement released[Read More…]
ASCSN urges Govt to reverse electricity tarrif Comrade Tommy Okon, the National President of ASCSN, has urged the federal government to reverse the electricity tarrif back to N66 per kWh from N225. On April 3, the Nigerian Electricity Regulatory Commission (NERC) approved an increase in electricity tariff[Read More…]
Ikeja Electric adds 19 new Band A feeders to communities Hours after slashing the tariff for Band A customers who get between 20-24 hours of electricity supply daily, Ikeja Electric has added more communities to the Band A network. The regions Incorporated into Band A of the Disco network[Read More…]
NERC Unbundles TCN, sets up new system operator The Nigerian Electricity Regulatory Commission (NERC) has unbundled the Transmission Company of Nigeria (TCN) with the establishment of the Nigerian Independent System Operator of Nigeria Limited (NISO). NERC made this known in an Order dated April 30, 2023 and[Read More…]
