BUSINESS
MultiChoice To Appeal Tribunal’s N150m Fine, Free Subscription Order
MultiChoice Nigeria has said it will appeal Friday’s ruling of the Competition and Consumer Protection Tribunal in Abuja, which awarded a N150 million fine against it for challenging the court’s jurisdiction. The News Agency of Nigeria (NAN) reports that the tribunal had fined MultiChoice Nigeria the sum of N150 million for disobeying its order. The order had restrained the pay-TV company from...
Presidency Refutes Reports Of Finance Minister’s N105,000 Minimum Wage Proposal
The presidency on Thursday, June 6, dispelled rumours surrounding an alleged proposal by the minister of finance and coordinating minister of the economy, Wale Edun, suggesting a N105,000 minimum wage for Nigerian workers. The special adviser to the president on information and strategy, Bayo Onanuga, on his X platform refuted the claim, saying that such a proposal was never put...
CBN Revokes Heritage Bank License
The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect. The CBN said the action became necessary due to the bank’s breach of Section 12 (1) of the Banks and Other Financial Act BOFIA, 2020. The apex bank also said the board and management of the bank have not been able to improve the...
FG Has Secured $30bn Investment In Last One Year, Says Minister Of Trade And Investment
Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite said Nigeria had secured an investment commitment of over $ 30 billion in the last one year. She spoke on plans to establish commercial courts across the country to adjudicate business cases. She said the government had approved N430 million to fix the Lagos International Trade Fair Complex, adding that the complex...
Tinubu’s Implementation Of Fuel Subsidy Removal, Coup In Niger Was Poor — Obasanjo
Former President Olusegun Obasanjo has knocked the administration of President Bola Tinubu over poor implementation of the removal of subsidy from petroleum products as well as the floating naira. Obasanjo said though the policies were necessary, they were wrongly implemented. According to a statement made available to journalists on Sunday by his Special Assistant on Media, Kehinde Akinyemi, Obasanjo also condemned...
Nigeria Spending $25bn On Petrol Importation Yearly – Shettima
Vice-President Kashim Shettima has revealed that Nigeria spends $25 billion per annum on the importation of petroleum products. He said that the importation of fuel would soon be forgotten as the government of President Bola Tinubu is making efforts to make life comfortable for Nigerians. Shettima made this known at the Vanguard Economic Discourse themed ‘Reforms in the Era of Global...
King Apostle Chibuzor Signs Multi-Million Dollar Investment Deals In Italy, Set To Transform Abia
In a landmark achievement, His Royal Majesty King Apostle Chibuzor Gift Chinyere, Founder/General Overseer of Omega Power Ministries (OPM) and King of Ikwuorie Autonomous community in Ohanku Ndoki Ukwa East Local Government Abia State, has signed a multi-million dollar foreign investment deals in Milan, Italy, ABN TV reports. King Chinyere, who has been on a three-week investment drive, visited Taiwan,...
Nigeria’s Ten Years Economic Mismanagement Cannot Be Reversed In One Year — Sanusi
A former Central Bank of Nigeria governor and the 14th Emir of Kano, Muhammadu Sanusi, says it will take a while to for the Nigerian economy to bounce back from 10 years of mismanagement. He said that realistically, it requires more than six months or one year for the economic mismanagement of the last 10 years to be undone. The former...
Opay, Moniepoint, Others To Register New Customers From July
The Central Bank of Nigeria (CBN) has announced that mobile money operators, including fintech firms like Opay, Palmpay, Kuda, and Moniepoint Microfinance Banks will resume enrolling new customers in a couple of months from now. The disclosure was made by CBN Governor, Mr Olayemi Cardoso, at the end of 295th Monetary Policy Committee (MPC) meeting of the apex Bank in Abuja on...
VIDEO: Ohafia Traditional Rulers Council Unveils Economic Development Masterplan
In a groundbreaking move, the Ohafia Traditional Rulers Council (Nde Eze Ohafia) has launched a comprehensive economic development package aimed at transforming Ohafia Local Government Area (LGA) into a hub of economic growth and development. https://youtube.com/live/yoZSsWJO6ic The package includes a range of projects designed to unlock the economic potential of the region and make it a modern architectural city like Dubai. At...
