Finance
Diageo Sells Stakes in Guinness, Joining Multinationals Exiting Nigeria
On Tuesday, Diageo announced the decision to sell majority stakes in its subsidiary Guinness Nigeria to Tolaram Group, becoming the latest multinational to...
NNPC Denies Allegations Of Inflating Fuel Subsidy By N3.3 Trillion
The Nigerian National Petroleum Company Limited (NNPCL) has denied the allegations that it inflated Premium Motor Spirit (PMS/Fuel) subsidy claims by N3.3 trillion...
Schengen Visa Fees Increased by 12% for Non-EU Citizens Starting June 11
Non-European Union citizens applying for a Schengen visa will see an increase in fees starting June 11, 2024. The European Commission announced that...
Nigeria’s Economy To Hit $1.85 Trillion By 2029, But To Fall From Largest To Fourth In Africa -IMF
The International Monetary Fund (IMF) has predicted that Nigeria’s economy will reach $1.85 trillion by 2029 in terms of Purchasing Power Parity (PPP)....
European Central Bank To Cut Rates For First Time Since 2019
The European Central Bank (ECB) is set to announce a reduction in interest rates at its meeting in Frankfurt, Germany on Thursday. This...
Naira Left Out Of IMF’s June Currency List
The Naira has been omitted from the International Monetary Fund’s (IMF) Representative Exchange Rates for Selected Currencies for June 2024. This exclusion shows...
CBN and NDIC Face Criticism Over Heritage Bank Liquidation as Depositors Demand Full Refund
The Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation (NDIC) have come under fire from Heritage Bank depositors following the revocation...
Access Bank Allegedly Loses Over N75M Of Customers Money To ‘Network Glitch’
On May 26, Uchechukwu Innocent, an Onitsha-based businessman, received a total inflow of $49,718 in his Access Bank domiciliary accounts through Access Bank...
Labour Party Advices Re-negotiation, Says ₦494,000 Minimum Wage Demand Unrealistic
The Labour Party has urged workers’ unions to reconsider their indefinite strike and re-negotiate with the government for a new minimum wage. This...
Strike: NLC, PASAN Cuts Water Supply To National Assembly
The water supply to the National Assembly complex has been cut by members of the Parliamentary Staff Association of Nigeria (PASAN), an affiliate...
CBN Revokes Heritage Bank Plc’s License Due to Financial Instability
The Central Bank of Nigeria (CBN) has announced the immediate revocation of the banking license of Heritage Bank Plc, citing breaches of financial...
Lagos Ends 25% Discount on Public Transport Fare
The Lagos Metropolitan Area Transport Authority (LAMATA) has announced that the 25% discount on fares for regulated public buses, ferries, and train services...