The Federal Government, yesterday, disclosed that Nigeria spent a whooping N10.413 trillion on fuel subsidy between 2006 and 2019, a period of 14 years. Minister of Information and Culture, Alhaji Lai Mohammed, who made the disclosure at a media briefing in Abuja, said the quantum of fund spent subsidising petroleum products during that period translated […]
There are indications that bank customers are on the verge of losing confidence in electronic banking as frauds associated with the system threatens their life savings through a Subscriber Identity Module (SIM) card cloning. SIM cloning is the process in which a legitimate SIM card is duplicated by a fraudster and used in a different […]
The Central Bank of Nigeria, CBN, on Thursday, in restarting forex trade, directed licensed bureaux de change, BDC, operators to sell dollars to customers at a rate not higher than N386 to the dollar. This came as the Federal Government, Thursday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact […]
The UK economy has suffered its worst slump on record between April and June 2020 as COVID-19 lockdown measures pushed the country officially into recession. The country’s economy experienced 20.4 percent contraction between the first and second quarter, the biggest since records began in 1955. Household spending tumbled as shops were ordered to close, while […]
The Independent Petroleum Marketers Association of Nigeria has said the withdrawal of service by petroleum tanker drivers in Lagos State as from Monday, August 10, 2020 will cause fuel scarcity in the entire South-West and beyond. The Chairman of IPMAN, Ore Depot, Mr Shina Amoo, said this on Saturday in an interview with newsmen in […]
Beginning 2022, Rotaractors of university-based clubs will have to pay annual dues of $5 and community-based clubs $8. The dues have been introduced to cover the cost of additional support for Rotaract clubs, which can participate in global grant projects from July 1, 2022. They can be international or host sponsor of a GG if they […]
The Naira on Friday weakened marginally against the dollar at both the parallel market in Lagos State and the investor’s window. According to reports, the Nigerian currency traded at N472.5 to the dollar at the parallel market, down by 0.5 points from N472 exchanged on Thursday. The Pound Sterling and the Euro closed at N582 […]
The Senate ad hoc committee investigating financial recklessness in the Niger Delta Development Commission (NDDC) on Thursday said the agency had spent N1.3 trillion within four years, with some of the spending unlawful. The committee revealed the figure during the presentation of its investigative report before the Senate days after the acting NDDC Managing Director, […]
Contract splitting is rampant in the Niger Delta Development Commission (NDDC), Niger Delta Affairs Minister Godswill Akpabio, said on Monday. According to him, the management of the agency indulges in splitting contracts to outwit the minister and evade approval. Speaking before the House of Representatives Committee on Niger Delta in Abuja, the minister alleged that […]
United Bank for Africa (UBA) Plc has introduced the new UBA Naira Credit Card to its customers in fulfilment of its promise to ease accessibility to funds and improve the standard of living. UBA’s Group Head, Digital Banking, Sampson Aneke, said as a bank is interested in the welfare of Nigerians, a reason it is […]