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Nigeria’s Minister of Health, Mohammed Pate, recently addressed the significant migration of Nigerian medical professionals to countries like the United Kingdom. During an interview on Politics Today on Channels Television, Pate highlighted…
Category: Business and Economy
Explore the intricate landscape of “Business and Economy” through our News category. Delve into the realms of commerce, finance, entrepreneurship, and market trends. From insightful analyses of global economic shifts to guidance for small business owners, this category offers a comprehensive resource hub for individuals interested in understanding the dynamics that drive our financial world.
Germany to partner Nigeria on renewable energy sources …as Enugu keys into energy transition trend
The Consul General, German Consulate, Lagos Nigeria, Weert Borner, on Friday stated that Germany is partnering Nigeria in building renewable energy sources in order solve its energy crisis.
New Minimum Wage Bill Signed into Law by President Tinubu
President Bola Ahmed Tinubu has officially signed the new minimum wage bill into law, establishing a revised minimum wage of N70,000. The signing took place during a meeting of the Federal Executive…
South-South Stakeholders Urge President Tinubu to Act Against Alleged Sabotage of Dangote Refinery
South-South Nigerian stakeholders are intensifying their demands for President Bola Tinubu to take decisive action against those allegedly undermining the nation’s oil industry, particularly in light of recent challenges faced by the…
NNPC Declares State of Emergency in Nigeria’s Oil and Gas Sector
Nigeria’s national oil company, NNPC Ltd., has taken decisive action by declaring a state of emergency in the country’s oil and gas industry. Mele Kyari, NNPC’s Group Chief Executive Officer, made this…
Nigeria Launches N75,000 Cash Transfers for 15 Million Households
In a bid to combat poverty and provide immediate relief to vulnerable households across Nigeria, President Bola Tinubu has officially launched the Conditional Cash Transfer program, set to disburse N75,000 to 15…
How Heritage Bank Customers Will Receive ₦5 Million in Insured Funds: A Step-by-Step Guide
The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of Heritage Bank Plc that they will receive their insured funds following the bank’s liquidation. This announcement came shortly after the Central Bank…
CBN Revokes Heritage Bank’s License Amidst Financial Stability Concerns
In a move aimed at safeguarding Nigeria’s financial system, the Central Bank of Nigeria (CBN) has taken decisive action by revoking the operating license of Heritage Bank Plc. The decision, announced by…
Nigeria Inaugurates Largest Lithium Processing Plant in Nasarawa State
In a significant milestone for Nigeria’s industrial sector, President Bola Tinubu presided over the opening ceremony of the country’s largest lithium ore processing plant in Lafia, Nasarawa State. The event, held in…
CBN Mandates 0.5% Cybersecurity Levy for Banks
In a bid to bolster cybersecurity measures within the financial sector, the Central Bank of Nigeria (CBN) has mandated a 0.5% transaction fee on cybersecurity for Nigerian deposit money banks. The levy,…
CBN’s New Cybersecurity Levy Exempts 16 Banking Transactions
The Central Bank of Nigeria (CBN) has introduced a 0.5% cybersecurity fee on electronic transactions, effective from May 6, 2024. However, this levy does not apply to certain banking transactions, as outlined…
FG Directs 1.9 Million PoS Operators to Register
In response to legal requirements and Central Bank of Nigeria (CBN) guidelines, Point of Sale (PoS) companies are mandated to register their agents, merchants, and individuals with the Corporate Affairs Commission (CAC)…
Nigerian Government Moves to Outlaw Naira on Cryptocurrency Exchanges
In a bold move aimed at curbing dollar speculation and combatting exchange rate manipulation, the Federal Government of Nigeria plans to delist the Naira from all peer-to-peer cryptocurrency platforms. This development comes…
OPay Reassures Customers on Fund Safety Following CBN Directives
In response to recent directives from the Central Bank of Nigeria (CBN), leading financial services company OPay has sent reassuring messages to its customers regarding the safety of their funds. The fintech…
Nsukka zone living on gold, dying of hunger, says NSCCIMA President
The President of Nsukka Chamber of Commerce, Industry, Mines and Agriculture, NSCCIMA, Barr. Sam Otoboeze, on Thursday, said that the people of Nsukka cultural zone were yet turn the huge natural resources in the zone into economic prosperity for the sustainable development of the people.
Nigerian Electricity Regulatory Commission Approves 300% Tariff Increase for Urban Consumers
In a significant development, the Nigerian Electricity Regulatory Commission (NERC) has authorized a substantial increase in electricity tariffs, raising them from N68 to N225 ($0.15) per kilowatt-hour. The decision, announced by Musiliu…
Enugu lawmaker trains 40 constituents on Biopreneurship
Member representing Igbo Eze South State Constituency at the Enugu State House of Assembly, Hon. Harrison Ogara has said that he has chosen to teach his constituents how to catch fish instead of giving them fish.
President Tinubu Establishes Economic Management Teams to Tackle Economic Challenges
In a strategic move aimed at addressing the prevailing economic challenges in Nigeria, President Bola Tinubu has approved the establishment of two key bodies: the Presidential Economic Coordination Council (PECC) and the…
Enugu State Gov. Signs Bill to Establish SUMAS Teaching Hospital in Nsukka Zone
In a significant move aimed at enhancing healthcare delivery and medical education in Enugu State, Governor Dr. Peter Mbah has officially signed the Enugu State University of Medical and Applied Sciences (SUMAS)…
Only Seven Nigerian Banks Will Meet CBN’s Capital Increase Criteria
The Nigerian banking sector faces a seismic shift as reports indicate that nearly two-thirds of existing Deposit Money Banks (DMBs) may struggle to meet the Central Bank of Nigeria’s (CBN) proposed new…