The naira continued its decline against the dollar at the official foreign exchange market on Monday, January 13. New data from FMDQ showed that the naira weakened to N1,548.89 against the dollar on Monday from N1,543.03, indicating a N5.86 fall compared to N1,543.03 traded at the close of last Friday. Similarly, on the black market, …
N200bn USSD debt: NCC to name defaulting banks this week 14th January 2025
The Nigerian Communications Commission will this week publicly release the names of 18 banks that have failed to settle their outstanding debts for using Mobile Network Operators’ Unstructured Supplementary Service Data platforms. These banks collectively owe a total of N200bn, and the telecom regulator is preparing to take action, including suspending USSD services for the …
Naira appreciates to N1,650/$ in parallel market
The Nigerian Naira appreciated N1,650 per dollar in the parallel market on Tuesday, December 31 after close of trading compared to N1,655 on Monday Also, the Naira appreciated to N1,535 per dollar in the official foreign exchange market. New data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for the …
FG signs MOU with Japan to enhance rice production
The National Cereals Research Institute (NCRI), Badeggi, Niger State, has formalised a partnership with the Japan International Cooperation Agency (JICA) to enhance rice seed production systems across Nigeria. The collaboration, cemented through a Memorandum of Understanding (MoU), underscores a commitment to strengthening the nation’s agricultural development goals. Focus on Advanced Equipment and Capacity Building As …
TikTok’s Explosive Growth Amid Global Controversies
TikTok has grown from a niche app to a global social media phenomenon, boasting over 1.04 billion monthly active users as of 2024. However, its meteoric rise has been accompanied by significant controversies worldwide, ranging from data security to its impact on users and society. In Albania, Prime Minister Edi Rama announced a one-year TikTok …
Nigeria, Germany to deepen ties as Tinubu hosts President Steinmeier
President Bola Tinubu, on Wednesday, assured German businesses of Nigeria’s readiness to fully implement existing pacts to ease investment in renewable energy, youth skill development and industrial growth. Speaking during the visit of German President, Frank-Walter Steinmeier, Tinubu highlighted ongoing reforms aimed at fostering a business-friendly environment and attracting foreign investment. These include import duty …
IFIC Conference: Access Bank wins Financial Inclusive Bank of the Year Award
Access Bank, Nigeria’s largest-growing financial institution, has been named Financially Inclusive Bank of the Year at the 2nd International Financial Inclusion Conference (IFIC). The prestigious event hosted by the Central Bank of Nigeria (CBN) was graced by CBN Deputy Governor, Financial System Stability, Philip Ikeazor; Director-General of the National Pension Commission (PenCom), Omolola Oloworaran. Also …
Guardian paper announces it will no longer post on Elon Musk’s X
The Guardian has announced it will no longer post content on Elon Musk’s social media platform, X, from its official accounts. In an announcement to readers on Wednesday, November 13, the news organisation said it considered the benefits of being on the platform formerly called Twitter were now outweighed by the negatives, citing the “often …
Nigerian govt issues traders 30-day ultimatum to crash prices
The Nigerian government, through the Federal Competition and Consumer Protection Commission, has given traders in the country a one-month ultimatum, September 2024 to crash the prices of goods. FCCPC vice chairman, Tunji Bello disclosed this during a stakeholders’ meeting on exploitative prices in Abuja on Thursday. According to him, the Commission has uncovered several cases …
September rollout: Tinubu panel, Dangote refinery brainstorm on petrol pricing
There are indications that the Federal Government’s committee which was set up to ensure the implementation of crude oil sales to local refineries in naira will further discuss the pricing of Premium Motor Spirit, popularly called petrol, to be released by the Dangote Petroleum Refinery next month. Multiple officials, both among oil marketers and members …