Latest Nigeria Business News
A Federal High Court in Abuja told former Governor of Rivers, Nyesom Wike, on Wednesday that the Peoples Democratic Party (PDP) has the right to suspend or expel him if the action is done in accordance with the law. Justice James Omotosho stated this in a judgement he delivered on a suit filed by Wike […]
The Lagos chapter of the All Progressives Congress, APC, has refuted claims by the Peoples Democratic Party, PDP, that Gov. Babajide Sanwo-Olu’s achievements in his first term in office was characterised by an increase in poverty and unemployment. The News Agency of Nigeria (NAN) reports that PDP’s Publicity Secretary, Alhaji Hakeem Amode, in a statement […]
The Upper Shariah Court of Appeal No 1 sitting in Bauchi on Wednesday issued a warrant of arrest against the embattled Imam of Dutsen-Tanshi Jumma’at Mosque in Bauchi, Idris Abdul’aziz, over his failure to appear before the court. The embattled cleric was initially arraigned before the Bauchi Magistrate Court 1 by the state Commissioner of […]
Two persons, including a So-Safe Corps Area Commander, Ogunrinde Saheed, were shot dead by gunmen suspected to be kidnappers in Ogun State. The kidnappers were said to have killed two farm workers, while abducting two others at a farm in Awo village, Orile-Imo, Obafemi-Owode Local Government Area of Ogun State. The kidnappers, reportedly dressed in […]
The National Agency for the Prohibition of Trafficking in Persons, on Wednesday, dismissed five of its personnel, including a Deputy Director, for offences ranging from bribery, pilfering of confidential documents, amongst others. This was as two other officers were demoted by two ranks for soliciting bribes from a human trafficking suspect, while one officer was […]
Talks between the Federal Government and organised labour over the removal of fuel subsidy ended in a deadlock on Wednesday as they failed to reach a consensus following the hike in petrol pump prices to over N700 from N195 per litre by oil marketers. The hours-long meeting which was held at the Presidential Villa was […]
First City Monument Bank has unveiled an innovative product called FCMB Airtime Advance, which allows customers to borrow funds from their bank accounts. A statement from the bank said it allowed borrowings ranging from N200 to N5,000 directly from their bank accounts for the purpose of purchasing airtime, regardless of their financial status. “This solution […]
Aviation stakeholders have called on the Nigerian Civil Aviation Authority to take steps towards collaborating with other industry stakeholders and government agencies to achieve a 50 per cent carbon emission reduction in the industry by 2060. This was contained in a communiqué issued at the end of the second edition of the Federal Airports Authority […]
The President of the World Bank Group, David Malpass, has warned that Nigeria’s parallel exchange rate is harmful as it worsens future debt service payments and increases the risk of debt distress. Malpass said this in a blog post titled ‘Parallel Exchange Rates: The World Bank’s Approach to Helping People in Developing Countries’, published on […]
The insurance sector’s growth fell by 7.25 per cent in the first quarter of 2023, the latest figures obtained from the National Bureau of Statistics have revealed. The NBS disclosed in its ‘Nigeria Gross Domestic Product Q1, 2023’ that the finance and insurance sector consists of two subsectors which are financial institutions and insurance. It […]