In February, the Central Bank of Nigeria (CBN) revoked the licenses of 4,173 Bureau De Change operators for failing to adhere to regulatory guidelines, as explained in a statement by its acting Director of Corporate Communications, Sidi Hakama. According to the CBN, these operators violated regulatory provisions such as nonpayment of necessary fees within the…
In a statement issued in Abuja on Wednesday, both parties announced the signing of a memorandum of understanding (MoU) aimed at supporting Nigeria’s power sector development. The MoU, signed by USAID/Nigeria Mission Director Melissa Jones and Federal Ministry of Power Permanent Secretary Mahmuda Mamman, marks the implementation of a US government grant-funded technical assistance program…
Oluwatoni Oladiran, CEO of Oilden Energies, has raised alarm over the use of palm oil as a base oil in lubricant production, emphasizing its damaging effects on engines. Speaking to journalists, Oladiran expressed grave concerns about the prevalence of adulterated engine oils in the market, revealing that some unscrupulous producers were substituting base oils with…
During the first annual conference and third annual general meeting of the Alumni Association of the Federal College of Fisheries and Marine Technology in Lagos, maritime stakeholders highlighted Nigeria’s untapped potential in the fishing industry and its implications for economic growth. Under the theme “Unlocking the Potential of the Blue Economy: FCFMT Alumni Contributions to…
The Organised Private Sector (OPS) has urged for a fair and impact-driven distribution of government import waivers, highlighting transparency as crucial for economic growth and support to local industries. Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, emphasized the need for a transparent assessment of each waiver’s impact during a…
The Nigerian National Petroleum Company Limited’s (NNPCL) debts to Premium Motor Spirit suppliers have doubled in the last four months, reaching $6 billion, according to an online news report. This debt surge comes as the federal government depends heavily on NNPCL’s oil exportation for revenue and funding of capital projects. However, crude oil theft has…
The Board of Directors of Emerging Markets Telecommunication Services Limited, operators of 9mobile, has appointed Abolaji Idowu as its new Chief Financial Officer. Idowu succeeds Mrs. Nkem Oni-Egboma, who is stepping down to pursue new opportunities outside the company. In a statement released on Tuesday, 9mobile noted that Idowu’s appointment is part of a significant…
Delta Airlines has been named the Best Airline for the year 2024 and also received the Best Staff award, based on a passenger survey conducted by Skytrax, organizers of the World Airlines Award. The airline was recognized for its exceptional performance in both operational excellence and human capital at the 2024 World Airline Awards held…
The Air Peace Chief Operating Officer, Toyin Olajide, announced that all economy class seats on the airline’s Lagos to London flights are fully booked for the next 60 days, starting from July. Nigerian travelers, including travel agencies, have praised Air Peace for launching flights to European countries three months ago. In a recent interview in…
