Business
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FG set to launch centre to store about 1.4 petabytes data
The Federal Government has revealed its move to strengthen national security and efficiency by unveiling a state-of-the-art data centre that…
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BREAKING: CBN raises interest rate to 26.25%
The Central Bank of Nigeria Monetary Policy Committee has increased the benchmark interest rate to 26.25 percent. This was disclosed…
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UK CAA files report against Air Peace to Nigeria over Airport safety violations
The London Gatwick Airport has filed two mandatory occurrence reports to the United Kingdom Civil Aviation Authority (CAA) against operations…
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Labour to insist on N615,000 minimum wage
The Organised Labour has said it rejected the proposed N48,000 minimum wage because the Federal Government did not reveal how…
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Oil production rises to 1.7mbpd – NNPC
Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, stated that Nigeria’s oil production had…
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Court denies Binance executive bail
A Federal High Court in Abuja, presided over by Justice Emeka Nwite, has on Friday rejected the bail application of…
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How Enugu Trade and Investment ministry generated N86m in 4 months – Commissioner
The Enugu State Commissioner for Trade, Investment and Industry, Adaora Chukwu said the ministry generated N86 million as Internally Generated…
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Labour ends ongoing minimum wage negotiations
Organized Labour on Wednesday, May 15, pulled out of the ongoing minimum wage negotiations with the Federal Government.
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Nigeria’s oil output recovers after March dip, says OPEC
Nigeria’s daily oil production showed a promising trend in April, surging up from 1.23 million barrels per day in March…
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Kogi, Kwara, top NBS report for highest food prices
Kogi, Kwara, and Ondo are the three states in Nigeria with the highest food prices amid worsening hardship. This is…
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Tax payment not a burden but an investment in Nigeria’s future – Sanwo-Olu
The Governor of Lagos State, Babajide Sanwo-Olu has highlighted the critical role of a robust tax system in overcoming Nigeria’s…
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Naira Redesign: Emefiele implemented policy without approval – EFCC
The Economic and Financial Crimes Commission, on Wednesday, arraigned the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele,…
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BUA cement to finance Lokoja-Benin road under tax credit scheme
The Federal Executive Council (FEC) has approved the equalization of the Okpella section of the Lokoja-Benin road and others for…
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Herbert Wigwe-founded varsity, Wigwe University to kick off in August
Wigwe University founded by the late Chief Executive Officer of Access Bank, Herbert Wigwe, is set to officially launch operational…
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MTN Group revenue dips 19% in Q1 2024
The telecommunications provider, MTN Group has reported an 18.8% fall in Q1 service revenue compared to Q1 2023. However, in…
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Naira: Emefiele pleads not guilty to EFCC’s fresh charge
Ex Central Bank of Nigeria (CBN), Governor, Godwin Emefiele has pleaded not guilty to the allegation that he unlawfully printed…
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7.4m consumers still without electricity meters as installations rise 5%
Approximately 7.4 million electricity consumers in the Nigerian Electricity Market currently lack meters, despite a five per cent increase in…
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Naira falls to N1,520/$ in black market
The Naira yesterday depreciated to N1,520 per dollar in the parallel market, from N1,470 per dollar last week Friday. Similarly,…
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CBN will retain high interest rates to curb inflation — Cardoso
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has indicated that the apex bank will maintain high…
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Vodacom’s Egypt acquisition triggers boost in Group service revenue
Vodacom, a mobile network operator, has reported increased service revenue for the fiscal year which ended March 31, 2024. Vodacom…
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Manufacturing export dips as revenue drops 166% to N778bn
Nigeria’s quest for diversified foreign exchange earnings away from oil not feasible for now as revenue from the manufacturing export…
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Stop electricity subsidy, IMF tells FG
The International Monetary Fund (IMF) has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.…
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Q1 foreign debt servicing gulped $1bn – CBN
In the first quarter of 2024, the Federal Government allocated approximately $1.12 billion towards foreign debt service payments, underscoring the…
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Cash transfer scheme raised savings, but had little other impacts — W’ Bank
The World Bank said yesterday the conditional cash transfer programme of the Federal Government has had limited impact on household…
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Emefiele: I was pressured to offer $600k bribe, witness tells court
During the current trial of former Central Bank of Nigeria (CBN) governor Godwin Emefiele, a prosecution witness named Victor Onyejiuwa…
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Airtel to pay $13bn dividend despite $549m FX loss
The board of Airtel Africa has proposed a final dividend of $3.27 per share for the year ending March 2024.…
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Union Bank bags multiple ISO certifications
Union Bank has attained certifications in MSECB management system in ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018. MSECB is a…
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FG calls for further VAT increase
The Presidential Committee on Fiscal Policy and Tax Reforms calls for an increase in the value-added tax (VAT) rate. Speaking…
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Zambia’s currency hits record low against U.S. dollar
Zambia’s currency hit a record low against the U.S. dollar on Wednesday, touching 27.30 to the dollar amid hard currency…
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Jumia records increased sales in Nigeria, Ghana in Q1 2024
Jumia, an eCommerce platform, reported a $48.9 million revenue increase and a gross profit of $31.2 million in the first…
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Cybersecurity levy: Tinubu only interested in milking a dying economy – Peter Obi slams Presidency
Former presidential candidate of the Labour Party (LP), Peter Obi, has slammed President Bola Tinubu’s government for the imposition of…
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CBN Releases List of Licenced Deposit Money Banks
The Central Bank of Nigeria on Tuesday released lists of licenced Deposit Money Banks operating in the country. The list…
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Naira dips to N1,415/$ in parallel market
The Naira yesterday depreciated to N1,415 per dollar in the parallel market, from N1,410 per dollar on Monday. Also, the…
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CAC Registration: CBN issues July 7 deadline for PoS operators
The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to…
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Cybersecurity Levy: CBN direct banks to charge 0.5% on all electronic transactions
The Central Bank of Nigeria on Monday directed all banks to commence charging a 0.5 percent cybersecurity levy on all…
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Band A electricity tariff reduced from N225 to N206.80/kwh
Electricity Distribution Companies in Nigeria have announced a reduction in the tariff of customers under the Band A classification to…
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Bolt Nigeria denies laying off nearly 50% of its staff
Bolt Nigeria has denied laying off 22 of its 45 staff, three days after one publication reported the layoff.
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Breaking News: FG approves reduction of Electricity Tariff for Band A customers
The Ikeja Electricity Distribution Company has slashed the tariff payable by its Band A customers to N206.80 per kilowatt-hour from…
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Nigeria equity market rebounds after N3.5tn loss in April
The Nigerian equity market recorded its first weekly gain after losing N3.54tn in April. It gained N812bn last week after…
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Customs increases FX rate for import duties to N1,441/$
The Nigeria Customs Service (NCS) has increased the foreign exchange (FX) rate for import duties to N1,441.58 per dollar. The…
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