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Nigeria loses billions daily as the JTF continues to steal oil in the Niger Delta

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Chi wins most Innovative FMCG company award

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Nigerian downstream operators have lamented the impact of the 14-day lockdown which has led to low business patronage Despite having had its fair share of the economic turbulence prior to the outbreak of COVID-19, the downstream industry remains one of the most fragmented industries in the Nigerian economy, competing with both a regulator and an …

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The dollar exchanged for N412 on Monday at the Bureau De Change segment of the market. This followed a temporary suspension of the sale of forex to the Bureau De Change operators in the industry by the Central Bank of Nigeria. The Association of Bureaux De Change Operators of Nigeria had made a request to …

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As more businesses in Nigeria encourage remote work and social distancing, leading financial technology (fintech) firm, SystemSpecs has launched Paylink, a web-based solution that helps Micro, Small and Medium-scale Enterprises (MSMEs) as well as religious organisations, not-for-profit outfits, social media sellers, freelancers, individuals and many more to swiftly receive payments from everywhere, even abroad, this …

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The international oil benchmark, Brent crude, which stood at $45.72 per barrel on Sunday, has slumped to $33 per barrel. Oil prices suffered a historic collapse overnight after Saudi Arabia shocked the market by launching a price war against onetime ally Russia. Brent, against which Nigeria’s crude is priced, fell by $11.62 to $33.45 as …

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An official of the World Health Organisation (WHO) says banknotes can spread coronavirus disease. Speaking with UK Telegraph, a WHO spokesman said banknotes move from one hand to the other, thereby increasing its chances of spreading the virus. The official recommended the use of contactless payments and the washing of hands after handling banknotes. “Yes it’s …

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Dangote Fertiliser Limited has begun a countdown to the inauguration of its $2 billion Granulated Urea Fertiliser complex located in the Dangote Free Zone. With a capacity of 3 million tonnes per annum, the plant has been classified as the biggest project in the entire fertilizer industry history in the World. Siapem of Italy is …

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The Central Bank of Nigeria (CBN) on Thursday said it has so far recovered over N60 billion from erring banks as excessive charges imposed on customers. The bank also said it has equally returned same amount to the affected customers. This is just as the Apex Bank has announced that it had commenced the processes …

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SystemSpecs, a leading provider of financial technology and human capital management solutions and services, will be hosting an insightful session during the 2020 edition of the Social Media Week (SMW) in Lagos. The session with the theme, “Human-Focused Lending in a Digital World: Impact of Fintech Collaborations,” would hold next Thursday in Lagos. According to …

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The Nigeria Customs Service(NCS), has said that Nigeria now rakes in between N5 billion and N6 billion daily from imports since the closure of its land borders with neighbouring countries. Prior to the closure in August 2019, daily duty collections hovered between N4 billion and N5 billion, said the Nigerian Customs Service (NCS) in Lagos …

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The consumer price index, which measures inflation, rose to 12.13% in January; hitting its highest point in 21 months. According to data released by the National Bureau of Statistics on Tuesday, the index increased from the 11.98% recorded in December 2019. The last time inflation was in this region was in April 2018. “The consumer …

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