The Central Bank of Nigeria (CBN) has lifted its restrictions on OPay, Moniepoint, Kuda, Palmpay, and Paga, allowing these fintech companies to resume onboarding new customers. This follows a five-week suspension by the Central Bank, prompted by concerns over the fintechs’ accounts being used for illicit foreign exchange transactions. While the CBN has not issued…
The Federal Government has announced its readiness to pay a minimum wage exceeding N60,000, urging organized labor to accept the offer. The figure was disclosed by the government late Monday after a meeting with the Nigeria Labour Congress NLC and its counterpart, the Trade Union Congress TUC at the Office of the Secretary to the…
The Central Bank of Nigeria has revoked the banking licence of Heritage Bank Plc, with immediate effect. This decision was made due to the bank’s failure to improve its financial performance, posing a threat to financial stability. The apex bank’s Acting Director of Corporate Communication Department, Sidi Ali, disclosed this in a statement on Monday….
The Federal Government has temporarily suspended the contentious $300 helicopter landing fee imposed on helicopter operators. This newspaper reports that helicopter operators have protested against the levy outsourced to a consultant, Messers NAEBI Dynamic Concept Limited. Minister of Aviation and Aerospace Development, Mr Festus Keyamo, had earlier defended the levy inherited from his predecessor, Senator…
The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have announced a nationwide strike starting June 3rd, 2024, due to the tripartite committee’s failure to reach consensus on a new minimum wage and electricity tariff increase. The President of the TUC Festus Osifo announced the strike at a joint news conference with the leadership…
Nigeria may boost its daily crude oil output by 480,000 barrels as the Nigerian National Petroleum Company Limited (NNPCL) and ExxonMobil move towards resolving the dispute over ExxonMobil’s asset sale to Seplat Energy. NNPCL said on Thursday that it has reached a settlement with ExxonMobil in Nigeria over the sale of Seplat Energy Offshore Limited…
A Federal High Court in Lagos has ordered Guaranty Trust Bank (GTB) to temporarily seize the assets of Afex Commodities Exchange due to an outstanding debt of N17.808 billion linked to the Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme. Justice Chukwujekwu Aneke gave the ruling on Wednesday in an application instituted by GTBank dated…
In celebration of his first year in office, President Bola Tinubu has announced on Wednesday that all commuters can ride the Abuja Metro Line for free until the end of the year. The President made the declaration while flagging off the re-launch of commercial operations on the Abuja Light Rail. The President, in a statement…
Chief Justice of Nigeria, Justice Olukayode Ariwoola, has summoned the Chief Judges of the Federal High Court and Kano State High Court over conflicting interim injunctions concerning the Kano Emirate, sparking uncertainty in the state. Recall that Justice S. A. Amobeda of the Federal High Court in Kano has ordered the eviction of Emir Muhammadu…
Amid ongoing controversies surrounding the Kano Emirate, the Bichi Emirate Council declared on Tuesday their strong opposition to dissolving the five emirates established by former Governor Dr. Abdullahi Ganduje’s administration. The council issued a strong warning to the state government and State Assembly, demanding an urgent reversal of the repealed emirates law to allow the…
