BUSINESS
Fuel Subsidy Removal: We Must Undergo This Pain To Emerge Victorious, Says Soludo
Governor Chukwuma Soludo of of Anambra state, has described the removal of fuel subsidy as a pain Nigeria must undergo before it will emerge “victorious.” Soludo made this assertion during the commissioning of the Solution Innovation District in Awka, the state capital on Thurday. The governor stressed the need for the country to embrace its greatest resource which he said is...
Bakers Set To Raise Prices Of Bread Again, Say Cost Of Production Increasing
Bakers, under the aegis of the Premium BreadMakers Association of Nigeria, have warned of yet another hike in prices of bread due to the skyrocketing cost of baking materials. President of the association, Emmanuel Onuorah, disclosed this to The PUNC...
Shell Commence Construction Mega Gas Plant In Aba
Shell Nigeria Gas Limited, SNG, said it has commenced the construction of a huge gas plant in the commercial city of Aba, in Abia, an official said. SNG, a subsidiary of the Shell Petroleum Development Company, SPDC, said the facility will be used for the transmission and delivery of gas to its business customers in the area. The Managing Director of...
VP Shettima Calls For Equity In Distribution Of Fertilizers To Nigerian Farmers
Vice President Kashim Shettima has called on stakeholders to ensure transparency, equity and fairness in the distribution of fertilizers to farmers. He made the call on Tuesday when he met with Fertilizers Producers and Suppliers Association of Nigeria (FEPSAN) at the Presidential Villa, Abuja. Shettima said President Bola Tinubu is passionate about reducing the cost of fertilizers for Nigerian farmers as...
Binance To Depart Nigerian Market, Ends Services In Local Currency
Binance will discontinue all services for Nigeria’s fiat currency, the naira, amid an ongoing regulatory conflict in the country. The crypto exchange will automatically convert naira balances to USDT from March 8 at 8:00 a.m. UTC but will cease support for NGN deposits after 14:00 UTC today. Withdrawals will become unsupported after March 8 at 6:00 a.m. UTC. Posting on its...
BREAKING: Banks Reach Agreement To Halt Staff Sack
The bankers' committee of the Central Bank of Nigeria (CBN), has agreed that plans to lay off staff would be suspended. This was announced in a statement signed by Isaac Okorafor, Director, Corporate Communications said the CBN, Bankers’ Committee both decided to suspend lay-offs in banks. Also Read: Banks In Abuja, Lagos, Others To Open From Monday Access Bank has been trending...
ECOWAS Nations Set To Launch Single Currency ECO
Finance Ministers and Central Bank Governors from the 15 Economic Community of West African States (ECOWAS) have advanced plans to launch the single currency initiative, known as the ECO. This initiative envisioned to propel economic growth and development throughout the West African sub-region, received Nigeria’s endorsement. The single currency is part of the features in the three-in-one Identity cards planned by...
With Introduction Of CNG Buses, Nigerians Will Pay Less On Transportation — FG
The federal government has said the introduction of Compressed Natural Gas (CNG) buses under the Presidential CNG Initiative (PCNGi) will lead to a substantial reduction in transportation costs, ultimately helping to curb inflation. The Finance Minister and Coordinating Minister of the Economy, Olawale Edun, stated this during a visit to the JET Motor Company (JET) Assembly Plant in Lagos, where...
Senate Warns That Looted Funds Should Not Be Used For Banks Recapitalisation
The Senate Committee on Capital Market & Institutions has cautioned against the potential risks of utilizing laundered funds for the recapitalization of banks. The Chairman of the Committee, Senator Osita Izunazo, during the 2nd Quarter Symposium organized by the Association of Capital Market Academics of Nigeria (ACMAN), urged the Central Bank of Nigeria (CBN) to intensify efforts in ensuring that...
We’re Working Hard To Ensure Free Fall Of Naira Stops, Emefiele Vows
With an escalating demand for foreign exchange for both goods and services by Nigerians, the Central Bank of Nigeria (CBN) has assured that it would continue to make deliberate efforts in the foreign exchange sector to avert further downward slide in...
