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Naira vs USD: CBN Considers Crackdown on Street Trading, Introduces New Guidelines for BDCs. Amidst the ongoing volatility of the Naira against the US dollar in the foreign exchange market, the Central Bank of Nigeria (CBN) is contemplating measures…
Breaking News: EFCC Arrests 115 BDC Operators, Seizes Over N100m in Enugu State. In a significant crackdown, the Enugu Zonal Command of the Economic and Financial Crimes Commission (EFCC), in collaboration with a Joint Task Force comprising teams from…
World Food Program Temporarily Halts Local Food Purchases in Nigeria Awaiting Price Stabilization. The United Nations World Food Program (WFP) has announced a strategic pause in its procurement of local food supplies in Nigeria, citing the need for market…
Challenges in Real Estate Development: Rising Cement Prices and Economic Pressures. In the realm of real estate development, escalating costs of building materials, particularly cement, coupled with economic uncertainties, are compelling developers to reconsider their projects nationwide. This shift…
NERC Considers Price Adjustment for Prepaid Meters Amid FX Challenges. The Nigerian Electricity Regulatory Commission (NERC) is contemplating a potential increase in the price of prepaid meters, responding to mounting production costs encountered by meter manufacturers. Sources familiar with…
Nigerian Customs Foils Smuggling Attempt: 15 Truckloads of Food Seized in Sokoto. In a concerted effort to combat smuggling activities exacerbating the inflation of essential commodities, the Nigeria Customs Service (NCS) has successfully intercepted 15 trucks laden with food…
Impact of Rising Fuel and Commodity Prices on Nigeria: AfDB Warns of Potential Social Unrest. The African Development Bank (AfDB) has issued a cautionary note, highlighting the looming threat of social unrest in Nigeria due to escalating prices of…
Nigerian Breweries 2023 Annual Report: Navigating Challenges with Strategic Moves Despite N106 Billion Loss. Key Highlights: Revenue surges by 9%, showcasing resilience amidst economic challenges. Operating profit declines by 15% due to increased input costs and economic pressures. Expansion…
Tinubu Vows Against Food Imports and Price Controls: A Push for Agricultural Self-Sufficiency. President Bola Tinubu has made a resolute declaration, stating his opposition to the importation of food and his refusal to establish a price control board. This…
Are Dating Apps Like Tinder and Hinge Exploiting User Addiction for Profit? On Valentine’s Day, Match Group, the parent company of popular dating apps like Tinder and Hinge, found itself embroiled in a potential class-action lawsuit. The lawsuit alleges that…
