Category: ECONOMY

‘I am confident we have brought First Bank of Nigeria to higher place – Sacked Ibukun Awosika

Tunde

Sacked former chairman of First Bank Nigeria Limited, Mrs. Ibukun Awosika, has Insisted the decision to sack reinstated Managing Director of the bank, Adesola Adeduntan, was taken in the best interest of the institution. She said maintained consistency in her contributions to development of the bank in over five years as chairman. Awosika explained she joined the bank’s board in October 2010 after which she was appointed to chair the board of FBN Life Insurance Limited. The Nation reports the Central Bank of Nigeria (CBN) wielded the big stick on…

Read More

Nigerian payments gateway Flutterwave raises $170m, now valued at over $1bn

Tunde
Nigerian payments gateway Flutterwave raises $170m, now valued at over $1bn

Nigerian payments gateway, Flutterwave, has closed a $170m Series C funding round, the largest amount ever secured by an African tech startup and one that gives it “unicorn” status with a value of over $1bn. As reported variously by online platforms, including Tech Crunch and Disrupt Africa, Flutterwave is one of several fintech groups aiming to facilitate and capitalise on a booming African payments market driven by increased mobile phone use and faster internet speeds. Launched in 2016 and  and headquartered in San Francisco, Flutterwave builds modern payments technology and…

Read More

Shoprite shutdown as workers begin strike

Tunde
ShopRite Exit Nigeria: South Africa’s grocery retailer, ShopRite shutdown in Nigeria after 15 years of running

Not less than 25 outlets of Shoprite in Nigeria have shutdown as workers embark on a nationwide industrial strike action demanding proper information on staff benefits as well as terms of sale to interested investors who are on course to acquire the Nigerian subsidiary of the South African retail outlet. A report by the Foundation for Investigative Journalism (FIJ) suggests that all 25 outlets of Shoprite in Nigeria have been shut down by workers. The report revealed further that the workers embarked on industrial action over claims of sale of the retail…

Read More

All you need to know about BOFIA act 2020

Tunde
BREAKING: President to address the nation by 7pm

President Muhammadu Buhari signed the Banks and Other Financial Institutions Act (BOFIA) 2020 yesterday here is all you need to know bout BOFIA 2020 The present who disclosed this on his official Twitter handle on Friday, said the new legislation which repealed the extant BOFIA 1991 as-amended, would strengthen confidence in the banking sector. President Buhari wrote: “Yesterday, November 12, 2020, I assented to the Banks and Other Financial Institutions Act 2020, which repeals the extant Banks and Other Financial Institutions Act 1991 as-amended. “The BOFI Act 2020 is a…

Read More

Check your 2020 SSCE Result on WAECDirect Portal Free

Tunde
Check your 2020 SSCE Results on WAECDirect Portal Free

Check your 2020 SSCE Results via WAECDirect Portal Free. Kindly login to https://www.waecdirect.org, WAEC result checker portal to check your 2020 Senior Secondary School Certificate Examination(SSCE) results free The West African Examinations Council (WAEC) has released the results of the 2020 Senior Secondary School Certificate Examination(SSCE). WAEC had promised the results would be released on Monday, November 2, 2020. If you are one of the candidates that participated in the examination, checking the result is very simple. Remember the smart identity card used during the exams? Well, the result checker…

Read More

Survival Fund: Registration commences as portal open, all you need to know

Tunde
Survival Fund: Registration commences as portal open, all you need to know

As the portal for the registration of prospective beneficiaries for the Survival Fund opens on Monday, the Federal Government has released the timetable for categories of businesses to register. A statement issued in Abuja on Sunday by the Project Delivery Office stated that the portal which opens at 10 PM, will have educational institutions as the first category of beneficiaries to register. “Nigerians interested in the Payroll Support scheme are to note that the site for registration will be open from 10 pm Monday, September 21, 2020. “In order to…

Read More

FG declares that filling stations will dispense gas in vehicles from September

Tunde
Federal Government declares Thursday as public holiday for Eid-el-Maulud celebration

The Federal Government has declared that filling stations will begin to dispense autogas into automobiles through selected filling stations across the country before the end of September. This was disclosed by the Federal Ministry of Petroleum Resources through a document. It was gathered that autogas to be dispensed into automobiles and other prime movers include; Liquefied Petroleum Gas, Compressed Natural Gas and Liquefied Natural Gas, depending on the type of vehicle. The Committee on National Gas Expansion Programme (NGEP) had been assigned to ensure the effective implementation and take-off of this…

Read More

Petrol price increases as PPPRA raises ex-depot price by N6

Tunde
Petrol price increases as PPPRA raises ex-depot price by N6

With N138.62 approved by the Petroleum Products Pricing Regulatory Agency (PPPRA) as ex-depot price for a litre of petrol, the stage is set for Nigerians to pay more for petrol. Many filling stations in Lagos were shut on Tuesday in anticipation of the price hike. National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Abubakar Maigandi told The Nation last night that the PPPRA raised the depot price from N132/N133 per litre by N6 per litre. According to him, the agency has approved an ex-depot N138.62 per litre price…

Read More

ShopRite Exit Nigeria: South Africa’s grocery retailer, ShopRite shutdown in Nigeria after 15 years of running

Tunde
ShopRite Exit Nigeria: South Africa’s grocery retailer, ShopRite shutdown in Nigeria after 15 years of running

South Africa’s grocery retailer, ShopRite is leaving Nigeria 15 years after it opened shop in the West African country. Shoprite opened its first store in Lagos in December 2005. In a trading update filed at the Johannesburg Stock Exchange on Monday morning, the retail giant said it was planning to discontinue its operations in Nigeria. International supermarkets (excluding Nigeria) contributed 11.6 per cent to group sales and reported 1.4 per cent decline in sales from 2018. South African operations contributed 78 per cent of overall sales and saw 8.7 per…

Read More