Category: Finance and Economy

Obi Cubana Launches ‘Enviable Transport’ In Abuja, Takes Off with 100 Hybrid EVs

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Obi Cubana Launches ‘Enviable Transport’ In Abuja, Takes Off with 100 Hybrid EVs

Committed to the vision of continuous innovation and leading in the Nigerian e-hailing space, businessman Obi Cubana has unveiled Enviable Transport in the Federal Capital Territory (FCT) Abuja on Friday. This is coming days after Enviable Transport took delivery of over 100 units of hybrid electric vehicles (EV) as part of the company’s devotion to…

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Trade and Commerce, Transport and Aviation

ICPC Questions OAGF, CBN Officials Over ‘Missing $3.4 Billion IMF Loan’

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ICPC Questions OAGF, CBN Officials Over ‘Missing $3.4 Billion IMF Loan’

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has questioned two officials of the Central Bank of Nigeria (CBN) and one from the Office of the Accountant-General of the Federation (OAGF) over $3.4 billion loan allegedly granted to Nigeria by the International Monetary Fund (IMF). The anti-graft agency has also invited another set…

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Finance and Economy

91m Bank Accounts RiskDeactivation Over BVN-NIN Linkage

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91m Bank Accounts RiskDeactivation Over BVN-NIN Linkage

ABOUT 91 million bank accounts are at risk of being frozen following the March 1 expiration deadline given by the Central Bank of Nigeria (CBN) to commercial banks to get all accounts linked with customers’ Bank Verification Number (BVN) or National Identity Number (NIN). It was learnt that many banks sent fresh and final reminders…

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Finance and Economy

Locations With Commercial Quantity Lithium Identified in Nigeria – Alake

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Locations With Commercial Quantity Lithium Identified in Nigeria – Alake

The Minister of Solid Minerals Development, Mr Dele Alake, said the Federal Government (FG) has identified locations where Lithium occurs in commercial quantities in the country. He said comprehensive data on the pattern and quantity of energy mineral Lithium are available at the Nigerian Geological Survey Agency for businesses interested in establishing lithium companies in…

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Trade and Commerce

Fuel Subsidy: FG Still Pays N1 Trillion Monthly – CEO Pinnacle Oil

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Fuel Subsidy: FG Still Pays N1 Trillion Monthly – CEO Pinnacle Oil

The Chief Executive Officer, CEO, and Managing Director of Pinnacle Oil and Gas Limited, Robert Dickerman, has revealed that the Nigerian Government still pays one trillion naira every month for petrol subsidy. This is despite the total deregulation of petroleum products as announced by President Bola Tinubu on the day of his inauguration. Dickerman disclosed…

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Finance and Economy

CBN Revokes Operational Licenses Of BDCs (see list)

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CBN Revokes Operational Licenses Of BDCs (see list)

Information filtering in indicate that the Central Bank of Nigeria (CBN) has revoked the operational licenses of 4,173 Bureau de Change (BDCs) operators in the country. This was contained in a statement on Friday by Sidi Ali Hakama, CBN’s acting director of corporate communications. The statement reads: “The Central Bank of Nigeria (CBN), in exercise…

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Exchange and Forex, Finance and Economy

Igbo Traders Allege Intimidation, Over Taxation, Close Shop In Kwara

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Igbo Traders Allege Intimidation, Over Taxation, Close Shop In Kwara

Traders and businessmen under the aegis of the Igbo Traders Association in Ilorin, Kwara State closed their shops on Friday in protest against alleged intimidation and over taxation of their businesses by the Kwara State Internal Revenue Service (KWIRS). It was gathered that the development left many traders and businessmen stranded in such locations as…

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Finance and Economy, Trade and Commerce

Nigeria Posts $10bn Fine On Binance

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Nigeria Posts $10bn Fine On Binance

. Top Officials Arrested in Nigeria, Passports Seized Authorities in Nigeria have slammed $10 billion in penalties on the global cryptocurrency exchange platform Binance, alleging the country has incurred massive losses due to the platform’s activities. The Nigerian government detained two Binance Holdings Ltd. executives, days after the central bank governor said that the nation…

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Cryptocurrencies, Finance and Economy

More Hardship Ahead As Telecom Operators Insist On Increasing Tariffs

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More Hardship Ahead As Telecom Operators Insist On Increasing Tariffs

The lingering economic hardship may be compounded as telecom operators insist on increasing their tariffs. The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has been advocating for a tariff hike, citing rising operational costs. In a recent meeting with the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, ALTON Chairman Engr. Gbenga…

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Finance and Economy

Economic Quagmire: Tinubu Confers With Business Sector Players For Solutions

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Economic Quagmire: Tinubu Confers With Business Sector Players For Solutions

The uncertainty in the Nigerian economy has prompted an emergency meeting between President Bola Tinubu and members of the business community on Sunday. Prominent among those who attended the meeting at the Presidential Villa Abuja, were the Chairman of Dangote Group, Aliko Dangote, Chairman of BUA Group, Abdulsamad Rabiu, current governor of Anambra State, Charles…

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Finance and Economy