The Central Bank of Nigeria (CBN)’s slashing of Cash Reserve Ratio (CRR) of Merchant banks, means money for the real sector of the economy to create jobs. The CBN on Friday revised the CRR of Merchant banks to 10 percent from 32.5 percent, and this takes effect August 1, 2023. Haruna Mustafa, director, banking supervision …
Seychelles has announced increased border controls that will see tourists with Nigerian passports go through increased screening before they are granted entry. This development is coming after reports of drug trafficking and fraudulent activities by some Nigerian passport holders reports, The News Agency stated. Ahmed Afif, Seychelles Vice President, told reporters on Thursday that Nigerians …
Seychelles tightens border procedures for Nigerians over drug trafficking Read More »
A British Airways captain was stabbed after going for a run between flights in South Africa, according to media reports. A thug was said to hold him at gunpoint before plunging a knife into his thigh. The airline’s pilot was rushed to hospital for immediate treatment. He had gone jogging with a crew member during …
British Airways pilot ‘stabbed, held at gunpoint’ during stopover Read More »
Barely one week after its reopening, Eko Bridge in Lagos will be closed again for 24 hours on Sunday, July 16, 2023. Lagos State government, which announced the closure on Saturday in a statement, explained that the action was to enable palliative work to be done on the bridge. “The closure is for immediate remedial …
Eko Bridge: Lagos announces 24-hour closure on Sunday Read More »
read more Bad spots persist on Akpongbon bridge, despite 10-month closure for repairBusinessday NGRead More
The Central Bank of Nigeria (CBN) Friday said it would sanction, by blacklisting bank directors with loans that remain non-performing for more than one year. This was contained in the new corporate governance guidelines for commercial banks, financial holding Companies (FHCs), merchant banks, non-interest and payment service banks, released on Friday by the CBN. “Any …
CBN to blacklist directors with more than one year non-performing loans Read More »
The Nigerian Electricity Regulatory Commission (NERC), in an effort to promote transparency and customer engagement in respect of the proposed tariff hike request from the 11 electricity distribution companies, has called on the general public to send in their comments. The NERC said that customers comments will help in gauging public opinion and be a …
NERC seeks public opinion on electricity tariff increases Read More »
Bilaad Development Trust has called on government and the private sector to invest in education and entrepreneurship to reduce high levels of poverty and unemployment rates in the country. Usman Babayitso , Chairman of the group said this would help in curbing the tide of social problems in the country and shape a world where …
Why government must prioritise education, entrepreneurship – Bilaad Read More »
Shell Petroleum Development Company (SPDC) has suspended loadings of Nigeria’s Forcados crude oil due to a potential leak at the export terminal. This is according to a Reuters report. Shell has temporarily stopped loading Nigeria’s Forcados crude oil due to a suspected leak at the export terminal. “We can confirm that injections into the Forcados …
Shell halts loading of Nigeria’s Forcados crude oil Read More »
The federal government’s move to tax the informal sector could worsen the burden of small business owners and heighten poverty and hardships facing Nigerians, economic experts have said. The federal government, through the Federal Inland Revenue Service (FIRS), recently disclosed plans to implement the VAT Direct Initiative, which is aimed at enabling the government to …
Experts fault FG’s planned taxes on informal businesses Read More »