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Business
CBN: Inflation may rise to 14.15% by December
The Central Bank of Nigeria (CBN) has lamented that the country’s inflation rate which stood at 12.82 per cent in July may rise up to 14.15 per cent by the end of December 2020.
The development is coming as the federal government’s…
Shoprite announces plan to leave Kenya
Supermarket group, Shoprite Holdings, has announced plans to sell or close its remaining two stores in Kenya by the end of December 2020.
The South African company said the decision to exit Kenya was influenced by the ripple effects of…
NBS: Nigeria records N1.8 trillion trade balance deficit
The National Bureau of Statistics (NBS) says the country recorded a trade balance deficit of N1.8 trillion at the end of the second quarter, making the third consecutive quarter of negative trade balance.
This was contained in NBS’s report…
NSE suspends Medview Airline, Niger Insurance, others from trading
Medview Airline Plc, Niger Insurance Plc, Capital Oil plc and three other quoted firms have been suspended the Nigerian Stock Exchange (NSE) for their inability to file corporate accounts as required.
The other firms are FTN Cocoa…
NUPEND shelves strike as Chevron recalls 175 sacked workers
The Nigeria Union of Petroleum and Natural Gas Workers, (NUPENG) has suspended its planned nationwide strike scheduled for tomorrow Thursday, August 27.
The decision to shelve the industrial action was sequel to the resolve of the Chevron…
COVID-19: FAAN MD laments loss of N18.9 billion revenue
The Federal Airports Authority of Nigeria (FAAN) says it has lost over N18.9 billion as a result of the rampaging COVID-19 pandemic.
A breakdown of the figure shows the agency lost N17.5 billion of aeronautic charges in 23 weeks and also…
Obaseki’s reforms: Edo Modular Refinery applies to NNPC for crude supply
…set to meet 18% of Nigeria’s diesel demand on expansion
The Edo Modular Refinery being developed by Edo Refinery and Petrochemical Company Limited (ERPC) with support from the Edo State Government has applied to the Nigerian National…
Banks to take over collection of electricity bills
The Central Bank of Nigeria (CBN) has directed commercial banks to take over the collection of electricity bill payments in the country.
The development is aimed at improving revenue collection efficiency and financial liquidity…
Edo 2020: Christian Leaders endorse Ize-Iyamu, APC
The election bid of Pastor Osagie Ize-Iyamu, the Edo APC candidate in the Sept. 19 Governorship election, gained a major boost on Monday with a weighty endorsement from a powerful coalition of Christian Leaders across Edo State.…
Contributory Pension: FG pays N14.92bn accrued rights for retirees
The Federal Government has released the sum of N14.92 billion for the payment of accrued rights for retirees under the Contributory Pension Scheme (CPS).
A statement by the Head, Corporate Communications Department, PenCom, Peter Aghahowa,…