Fakoyejo Olalekan

Dollar Scarcity Crippling Airline Business In Nigeria, Expert Reveals Solution

Dollar scarcity in Nigeria is crippling airline business within the country, the Deputy Managing Director of an aircraft serviceability firm, 7Star Global Group, Air Commodore Simon Okwuokei (retd), has revealed. In a report on Tuesday, Okwuokei said that domestic airline operators are

April 11, 2023

IMF Asks Nigeria, Others To Charge VAT, Capital Gains Tax On Crypto Assets

Business

Scammers, Hackers, Steal $452 million From Crypto Investors

Over $452 million was lost in the first quarter (Q1) of 2023 in the cryptocurrency market, as hackers and scammers take advantage of unsuspecting investors. Although this is 65.23 per cent lower than the $1.3 billion lost by cryptocurrency investors during the

April 11, 2023

Nigeria’s Pension Fund Assets Surge To N17.658trn In October 2023

Business

Nigeria’s Total Pension Fund Up By N1.68 trillion, Gov’t Securities Take Large Chunk

The total pension fund assets increased by 12.28 per cent according to the National Pension Commission (PenCom). This represents N1.68 trillion in monetary form. According to unaudited data obtained from the National Pension Commission, the total pension fund assets closed at N15.45 trillion

April 11, 2023

Business

Peak Milk Forced To Apologise Over “Offensive” Easter Advert

Peak Milk has been forced to apologise after the firm was accused of profiting from an “offensive” advert posted on its social media page to celebrate Easter over the weekend. According to a statement released by the Christian Association of Nigeria (CAN)

April 11, 2023

Senate Speedily Passes N2.176trn Supplementary Budget, Cites Dry Season As Reason

Business

Senate Order Budget Office To Refund N19 billion Disbursed Without Approval

Due to its failure to receive approval before disbursing N19 billion to four Ministries, Departments and Agencies (MDAs), the Budget Office has been directed by the Senate to refund the sum. The Senate disclosed that the Budget Office handed N19 billion to

April 10, 2023

Business

Nigerian Cinema Operators Affected By CBN’s Naira Policy, Earn N441 million

Over N441 million was generated by the Cinema Exhibitors Association of Nigeria (CEAN) in March 2023, the National Chairman of the cinema operators, Opeyemi Ajayi, revealed. The amount was generated from movies shown across various screen theatres including Silverbird Cinemas, FilmHouse Cinemas,

April 10, 2023

Business

Rabiu Abdulsamad’s Food Company Makes N418.34 billion From Sugar, Flour Sales

BUA Foods revealed that its revenue for the financial year of 2022 rose by 26 per cent, with the company’s bottom line up by 31 per cent. According to the financial records of BUA Foods, the firm largely owned by billionaire, Rabiu Abdulsamad,

April 10, 2023

Google Ordered To Delete Cashpal, Swiftkash, 16 Other Nigerian Loan Apps

Business·Technology

FG, Google Unveil Four Operational Requirements For Loan Apps, Aggregators

Google has stated that digital loan apps will no longer be able to access users’ data such as photos, videos and contacts amongst others. Recall that the Federal Government had stated that it was working with Google to curtail the illegal activities

April 10, 2023

Business

CBN Asked To Disburse N250 billion To Cushion Subsidy Removal

The Central Bank of Nigeria (CBN) has been urged to hand over the N250 billion intervention fund for the National Gas Expansion Programme to the Independent Petroleum Marketers Association of Nigeria (IPMAN). IPMAN asked that access to the fund should be granted

April 10, 2023

Breaking: CBN Tell Banks To Increase Interest Rate On Loan, Set MPR At 18.5%

Business

Over 134.39 million Bank Accounts Risk Shutdown As CBN Clampdown On Fraud

Bank accounts not linked to Bank Verification Number (BVN) system will be closed down by the financial regulator, the Central Bank of Nigeria (CBN). The central bank said it will take the step to crack down on fraud, as the accounts without

April 7, 2023

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Fakoyejo Olalekan

Dollar Scarcity Crippling Airline Business In Nigeria, Expert Reveals Solution

Scammers, Hackers, Steal $452 million From Crypto Investors

Nigeria’s Total Pension Fund Up By N1.68 trillion, Gov’t Securities Take Large Chunk

Peak Milk Forced To Apologise Over “Offensive” Easter Advert

Senate Order Budget Office To Refund N19 billion Disbursed Without Approval

Nigerian Cinema Operators Affected By CBN’s Naira Policy, Earn N441 million

Rabiu Abdulsamad’s Food Company Makes N418.34 billion From Sugar, Flour Sales

FG, Google Unveil Four Operational Requirements For Loan Apps, Aggregators

CBN Asked To Disburse N250 billion To Cushion Subsidy Removal

Over 134.39 million Bank Accounts Risk Shutdown As CBN Clampdown On Fraud

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