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The Federal Competition and Consumer Protection Commission (FCCPC) has issued a strong warning to loan apps and other digital lenders harassing Nigerians over unpaid debts, declaring that “no consumer should live in fear.” The Commission therefore urged borrowers who face threats, blackmail, or public shaming to report such abuse immediately. Across Nigeria, the boom in…
Nigerians sending parcels to the United States will now have to pay a mandatory $80 customs duty or its naira equivalent, following a directive announced today. The new charge, which takes effect immediately, applies to all postal shipments destined for the U.S. and will be collected at the point of dispatch. According to clarifications from…
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At a recent company meeting, Group Chief Executive Officer of NNPCL, Bayo Ojulari, disclosed critical insights into the underperformance of the Port Harcourt Refinery, describing “massive monthly losses” and operational inefficiencies that have plagued the facility. Refinery Losing Up to ₦500 Million Monthly Ojulari revealed that when he began reviewing refinery operations, he discovered that…
A wave of operational disruption has swept through Nigeria’s seaports in the past two weeks, as persistent network glitches in the Nigeria Customs Service (NCS) B’Odogwu digital platform have slowed, or in some cases completely halted the clearance of goods. The fallout is stark, more than 5,000 cargoes remain trapped at ports, while port users…
A Federal Capital Territory (FCT) Magistrate Court in Wuse Zone II, has summoned former Kogi West Senator, Dino Melaye, to appear before it on September 5, 2025, over allegations of non-payment of more than ₦500 million in Personal Income Tax. The summons, signed by Magistrate Chiemena Nonye-Okoronkwo on August 21, 2025, followed a petition by…
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The Securities and Exchange Commission (SEC) has cautioned Nigerians to steer clear of GVEST Global, describing the company as an unregistered investment adviser and fund manager that is promoting illegal investment schemes. In a public notice, the Commission explained that GVEST Global also operates under different names, including GVEST (Alausa) Cooperative Multipurpose Limited, GVEST Investment…
The depot price of petrol in Nigeria has once again been adjusted, as Dangote Petroleum Refinery, Aiteo, and AA Rano confirmed an upward review to ₦823 per litre, up from the previous ₦821. The latest increase reflects the ripple effect of global crude oil price movements, which recently climbed from $65 to $67 per barrel,…
Nigeria’s state governments have collectively received a total of ₦7.1 trillion from the Federal Government under the administration of President Bola Ahmed Tinubu. This was revealed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a ministerial briefing in Abuja. Edun explained that the funds represent all federal allocations and…
Lagos, Nigeria – August 15, 2025 — In a bold overhaul of Nigeria’s downstream sector, the Dangote Petroleum Refinery today began delivering petrol and diesel—free of logistics charges—directly to retailers, marketers, and industrial users nationwide. This strategic pivot, built on heavy infrastructure investment, includes a fleet of 4,000 Compressed Natural Gas (CNG) tankers and more…
The Dangote Petroleum Refinery has suspended its widely anticipated fuel discount scheme following the discovery of a fuel diversion racket involving some of its strategic partners. The discount initiative, which aimed to offer Premium Motor Spirit (PMS) at reduced rates to select marketers, was designed to help stabilize supply and maintain healthy margins for retail…
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