Business

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Emirates Airlines has announced the suspension of its flight operations to Nigeria, starting September 1, 2022, over its $85 million revenue awaiting repatriation from Nigeria. This was announced in a statement by the airline on Thursday, the airline stated that the suspension is due to its inability to repatriate its earnings in foreign exchange from […]

Nigeria’s Ministry of Agriculture and Rural Development has rejected claims it spent N18.9 billion on a bush clearing contract during the COVID-19 lockdown. The Ministry disclosed this in a statement on Wednesday through its Director of Information in the ministry, Dr Joel Oruche, in Abuja, according to NAN. The ministry said it only carried out […]

Labour Unions across the nation have shut down major TCN stations across the country, cutting power supply to electricity consumers. This is coming days after threats from Labour unions to shut down power supply over Labour-related issues with the Ministry of Power. Electricity workers under the umbrella of the National Union of Electricity Employees (NUEE) […]

The House of Representatives’ Committee on Public Accounts is investigating the Federal Ministry of Agriculture over the award of contracts worth about N18.9bn to several companies to clear bushes during the COVID-19 lockdown. According to Punch, Chairman of the committee, Oluwole Oke, made this known at an investigative hearing in Abuja on Tuesday. The lawmaker […]

The nation’s electricity supply crisis could worsen from tomorrow as the organised labour has directed workers in the power sector to down tools and commence an indefinite strike over pending labour issues with the Transmission Company of Nigeria (TCN).  The aggrieved workers under the aegis of the National Union of Electricity Employees, NUEE, are scheduled […]

Nigeria’s apex bank, the  Central Bank of Nigeria (CBN) has ordered banks in the country to pay savings deposit accounts an interest rate of at least 4.2%, an increase from the 1.4% previously received. This was made known in a circular dated August 15, 2022, titled “Review Of Interest Rate On Savings Deposits” and signed […]

The exchange rate between the naira and the US dollar closed at N430/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. Naira depreciated by 0.09% on Monday, 15th August 2022 to close trading at N430/$1 from N429.62/$1 recorded in the previous trading session. However, forex supply inclined significantly by 190% to […]

Nigeria’s annual inflation quickened to 19.64% in July, rising for a sixth straight month on the back of price increases for both food and non-food items. Inflation, which has been in double digits in Africa’s biggest economy since 2016, was at 18.60% year on year in June. The National Bureau of Statistics (NBS) said this […]

Seplat Energy has said it did not get any official notification from the Federal Government reversing its proposed acquisition of the entire share capital of Mobil Producing Nigeria Unlimited. The company in a statement obtained from the Nigerian Exchange Limited (NGX) also stated that it is seeking clarification from the relevant authorities that the president […]

Nigeria Liquefied Natural Gas Ltd. (NLNG) has denied reports that it enabled the illegal exportation of crude oil and natural gas in Nigeria. This was disclosed in a statement by Mr Andy Odeh, the General Manager, External Relations and Sustainable Development, on Thursday in Lagos. NLNG said it is simply not true that the illegal […]


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