BUSINESS NEWS

The Securities and Exchange Commission (SEC) has described Ponzi scheme as “cancer” bedevilling effective operations of the capital market. The Director-General of SEC, Mr Lamido Yuguda, said this at a post Capital Market Committee (CMC) meeting press conference in Abuja on Friday. Yuguda said the commission had been fighting a serious war against Ponzi schemes […]

NIGERIA’S inflation rate rose from 18.6% to 19.64% within a month, the National Bureau of Statistics said yesterday. The Bureau attributed the 17-year all-time high 1.82% jump – the highest in 17 years – to rising food prices and other Consumer Price Index (CPI). Also listed as contributors were the increased in costs of gas and liquid/solid […]

The Nigeria Liquefied and Natural Gas (NLNG), has refuted an online publication by a newspaper alleging $the theft of $1.2billion crude oil, gas. In a statement made available to newsman NLNG described the report as false, malicious and a deliberate rehash of fallacious claims reported in an online media channel in January 2022. The General Manager, External […]

The Federal Government has vowed to go ahead with the planned implementation of a five per cent hike in call and data tariff. A statement from the Federal Ministry of Finance Budget and National Planning said the tariff hike will go on in spite of resistance from the Minister of Communication and Digital Economy, Prof. Ali […]

The Nigerian Railway Corporation (NRC) says it has reduced the number of trips on the Lagos-Ibadan train service due to the hike in the price of automotive gas oil, better known as diesel. The move would hamper the revenue drive of the sector, as rail transport raked in N6 billion last year. In an interview […]

Airline passengers will experience more flight delays and cancellations in the coming days following the closures of Runway 18L, hike in aviation fuel also known as Jet A1, and suspension of aero contractors and Dana airlines. The Airlines Operators of Nigeria, AON has also called on the Federal Aviation Authority of Nigeria, FAAN, to intervene […]

The consumer price index (CPI), which measures the rate of change in prices of goods and services, hit a five-year record high leapfrogging from 17.71 per cent in May to 18.60 per cent in June 2022. The National Bureau of Statistics (NBS) disclosed this in its consumer price index (CPI) report for June 2022, released […]

The World Bank has pledged continued support to Tanzania in financing the east African country’s development projects.  A statement by the Ministry of Finance and Planning revealed on Monday that the pledge was made by the newly appointed World Bank Vice President for Eastern and Southern Africa, Victoria Kwakwa, when she held talks with the […]

The International Labour Organisation (ILO) says it will continue to support Nigeria in strengthening Labour Migration Governance in the country. The ILO Country Director to Nigeria, Vanessa Phala, said this in an interview with the journalists on Tuesday in Abuja. Phala said the ILO was collaborating with the Ministry of Labour and Employment and other […]

Zimbabwe’s central bank on Tuesday said it would start selling gold coins as a store of value to tame runaway inflation, which had considerably weakened the local currency. The central bank governor John Mangudya said in a statement that the coins would be available for sale from July 25. According to him, the sale will […]