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Banks refund N76.75 billion, $20.90 million to customers after complaints – CBN

The Consumer Protection Department (CPD) of the Central Bank of Nigeria (CBN) has disclosed that banks refunded the sum of N76.75 billionand $20.90 million to…

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NIPOST ignores Minister’s e-payment order, collects cash on stamps, other services

The Nigerian Postal Service (NIPOST) has remained defiant to the directive of the Federal Government through the Minister of Communication and Digital Economy, Isa Pantami,…

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FG to capture 80% adult in financial inclusion net

The Federal Government (FG) is set to attract up to 80% of Nigerian adult population in the formal financial services sector, the Nigeria Deposit Insurance…

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Reps investigate N600 billion monthly revenue loss at Apapa, Tin Can ports

Lawmakers in the House of Representatives have commenced investigation on the N600 billion monthly revenue loss at the Apapa and Tin Can Island Ports in…

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LCCI wants taxes scrapped on solar equipment, says its alternative source to power

The Lagos Chambers of Commerce and Industry (LCCI) has called on the Federal Government to stop the import duty and taxes imposed on solar equipment…

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PZ Cussons’ low H1 profit blamed on under-performance in major markets

The profit of global consumer goods maker, PZ Cussons Plc, has continued to be negatively affected by lower sales in its Nigeria market and elsewhere. Reuters…

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Senate to probe PPPRA over unremited N800 billion FERMA fund

The lawmakers in the Senate is set to probe the Petroleum Products Pricing Regulatory Agency (PPPRA) over its failure to remit N800 billion to the Federal…

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CBN holds N43 billion stamp duty charges from banks – FG

The Federal Government has disclosed that the sum of N43 billion collected as stamp duty on domestic transactions is being kept with the Central Bank…

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Real estate: Declining credit reflects underlying weakness

The data published by the National Bureau of Statistics stated that the commercial banks’ credit to the real estate sector dropped by 17% y/y to…

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Refund N5.2 billion Anchor Borrower’s loan, CBN to Cotton farmers

The Central Bank of Nigeria (CBN) has asked the members of the National Cotton Association of Nigeria, Kano chapter, that participated in the government’s Anchor…

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NITDA issues non-compliance notice to 100 companies over data protection

No less than 100 companies are to be issued non-compliance notices by the Nigerian Information Technology Development Agency (NITDA) for their failure to comply with…

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FAO Price Index: Nigeria, others to lead rice rebound in Africa

The World Food Price Index report released by the Food and Agricultural Organisation (FAO) has predicted that Nigeria, alongside Egypt and Madagascar, would lead the…

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Oil marketers, PENGASSAN call for subsidy removal

Oil marketers in Nigeria and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have called for the removal of fuel subsidy. The groups…

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Nigerian economy’s 40% exposure to foreign credit is dangerous- CBN

The Central Bank of Nigeria (CBN) has warned that the 40% exposure of the nation’s economy to foreign credits portend danger. The apex bank warned that…

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FG defends new $22.7 billion loans from World Bank, others

Despite the rising concerns over Nigeria’s debt profile, the Federal Government (FG) has defended the new external debt borrowing of $22.7 billion from the World…

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Services sector: A potential “escalator” for employment growth

A principal link that economic growth is transmitted to the populace is the number of employment it creates. As a nation’s population grows, more people…

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Dangote set to invest more in agriculture

To support the focus of President Muhammadu Buhari-led administration on boosting the agricultural sector, Dangote Group has reiterated its commitment to invest more in the…

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FIRS staff to down tool over Fowler’s handover

The staff of the Federal Inland Revenue Service (FIRS) are determined to down tool. Their reason is that they claimed the immediate past Executive Chairman…

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Electricity workers begin nationwide strike

Nigerians may have to brace up for nationwide blackout as electricity workers in the country began indefinite strike this morning. The decision to embark on…

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AfDB moves to boost fashion SMEs, launches digital marketplace

In a bid to promote the African fashion industry, the African Development Bank (AfDB) has launched an initiative tagged the Fashionomics Africa Digital Marketplace. The…

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