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Friday, September 13, 2024

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Manny Akpan | Business & Economy Editor

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Fueling Change: Petrol Consumption Plummets 30% After Subsidy Cut in Nigeria

ABUJA, Nigeria — The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, disclosed on Friday, September 1, 2023, that...

Schools Reopen Amid Rising School Fees and Hardships: The Dark Side of Nigeria’s Fuel Subsidy Cut

NIGERIA - As primary and secondary schools across Nigeria reopen for a new academic session this September, parents are voicing their angst over rising...

Anti-Corruption Group Takes Battle to Court Over Acting Central Bank Governor’s Undeclared Assets

ABUJA, Nigeria - The Network Against Corruption and Trafficking Foundation, NACAT, a Nigerian pro-democracy civil society organisation, has filed a lawsuit against Folashodun Shonubi,...

Surge in Fraud Cases Rocks Nigerian Banks, Fueling Concerns Over Insider Involvement

LAGOS, Nigeria — Nigerian deposit money banks are grappling with a staggering increase in fraud cases and financial losses, as revealed in a report...

Forex Fluctuations Fuel Fears: Nigeria Braces for Petrol Price Hike

ABUJA, Nigeria - Amidst the escalating dollar rates, especially in the parallel market, oil marketers have warned of an imminent rise in petrol prices. They...

Stranded in Niger: Nigerian Drivers Appeal to Tinubu for Passage Home

ILLELA, Nigeria - Scores of Nigerian trailer drivers, stranded at the Republic of Niger-Nigeria border, are issuing desperate appeals to President Bola Tinubu's administration...

Azman Air Suspends Operations After 9 Years Citing ‘Operational Challenges’

ABUJA, Nigeria — Azman Air, after nine years of scheduled operations, has reportedly ceased its services. However, the airline's spokesperson, Mr. Nurudden Aliyu, contends that...

Naira Nosedives: Citizens Grapple as Currency Hits All-Time Low Amid New Forex Policies

LAGOS, Nigeria — The Nigerian naira nosedived to an all-time low of N925/$1 on the parallel market, reflecting the unanticipated aftermath of recent adjustments...

Central Bank Blames Unrecorded Diaspora Remittances for Naira’s Rapid Depreciation

ABUJA, Nigeria — The Central Bank of Nigeria, CBN, is pointing the finger at diaspora remittances that bypass the official system, attributing it to...

Nigerian Authorities Uncover Illegal Operators Selling Contaminated Jet Fuel at Airports

LAGOS, Nigeria — The Nigerian Civil Aviation Authority, NCAA, has exposed a scheme involving unapproved Jet A1 marketers operating illegally at Nigeria's airports and...

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