Lagos Govt. Commence Demolition Of Markets Around Train Stations
The government of Lagos State has started demolishing markets around train stations. Earlier, the Governor of Lagos State, Babajide Sanwo-Olu, had on Wednesday issued a two-day ultimatum to traders selling their wares on train tracks to vacate. The Lateef Jakande Train Station was the first to be demolished as part of the Lagos State Building […]
What China’s Economic Problems Mean For The World
There is a saying that when the United States sneezes, the rest of the world catches a cold. But what happens when China is unwell? The world’s second-largest economy, home to more than 1.4 billion people, is facing a host of problems – including slow growth, high youth unemployment and a property market in disarray. […]
CPPE Urges CBN Governor Cardoso To Urgently Fix Forex Crisis
The Centre for the Promotion of Private Enterprise (CPPE) has urged the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, to urgently fix the foreign exchange crisis. Muda Yusuf, the director of CPPE, made this known in a statement outlining a ten-point agenda for Cardoso on Sunday. He advised the CBN governor […]
UAW Strike Expands To Dozens Of Sites At GM And Stellantis
The United Auto Workers union (UAW) is escalating its fight with some of America’s biggest carmakers by taking strike action at dozens of parts distribution centres across the US. UAW boss Shawn Fain said the new walkouts would hit 38 sites owned by General Motors and Stellantis, as the row over pay and benefits continues. […]
Nigeria Spent ₦2.34trn On Debt Servicing Within Six Months – DMO
A new report from the Debt Management Office (DMO) states that Nigeria spent ₦2.34 trillion on servicing its debts within six months. Nigeria spent ₦849.58 billion less on debt servicing in the second quarter of 2023 than in the first. This was a decrease of 43.04% from the debt servicing costs of ₦1.49 trillion in […]
iPhone 15: Apple Forced To Ditch Lightning Charger
Apple has confirmed its new iPhone will not feature its proprietary lightning charging port, after the EU forced the change. The tech giant said that the iPhone 15, unveiled at its annual event on Tuesday, would use a USB-C cable as the “universally accepted standard”. A new Apple Watch series was also unveiled with a […]
Google Trial: US Takes On Tech Giant In Landmark Case
Just a few years ago, a crackdown in the US to curb the might of America’s tech giants seemed at hand. Bosses from Apple, Amazon, Google and Facebook had been hauled before Congress and President Joe Biden was putting in place a slew of officials known for their tough-on-tech views. But efforts by Congress to […]
CBN Issues Fresh Directive On Foreign Exchange To Commercial Banks
Commercial banks have been directed by the Central Bank of Nigeria (CBN) to stop using their foreign exchange revaluation profits for dividends and operating expenditures. The directive was contained in a letter dated September 11, 2023, and it was signed by Haruna Mustafa, Director of the Banking Division Department. The apex bank ordered commercial banks […]
FG Removes 37 Illegal Loan Apps
In a recent report, the Federal Competition and Consumer Protection Commission (FCCPC) announced that thirty-seven loan apps had been removed off the list. The commission revealed that the number of loan apps that were delisted rose from nine to thirty-seven. According to its website’s most recent updates, which were posted on Monday, the number of […]
238 Mining Companies Owe FG N1.06bn Annual Service Fees –NEITI
The Federal Government is owed about N1.06 billion in annual service fees by 238 companies, according to the Nigeria Extractive Industries Transparency Initiative (NEITI). This information was included in the recently launched NEITI Industry report for the Solid Minerals Industry for 2021. “From the IA review of MCO’s record of mineral title holders, it was […]
