BREAKING: Court Stops CBN From Releasing Allocation To Rivers State Government

The Federal High Court in Abuja has stopped the Central Bank of Nigeria CBN from further releasing monthly financial allocations to the Rivers state government. The court held that the receipt and disbursement of monthly allocations since January this year by governor Siminalayi Fubara is a Constitutional sommersault and aberration that must not be allowed…

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FULL LIST: Firms That Left Nigeria From 2020 To 2024 Over Economic Challenges

In recent years, Nigeria has witnessed an increasing trend of multinational and local companies shutting down or relocating their operations due to economic challenges, currency volatility and rising operational costs. The latest company to announce its departure from Nigeria is South African grocery retailer Pick n Pay, which confirmed on Monday that it will exit…

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Fuel Supply To Increase As FG Grants Licenses For Companies To Operate Refineries In Nigeria

Nigeria’s fuel supply is set to increase as the Federal Government, through the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA) has granted licenses to nine modular refineries, seven construction licenses, and four operational licenses. The development was announced by Farouk Ahmed, CEO of NMDPRA, at the 2024 Oil Trading & Logistics Africa Downstream Energy Week…

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20 Governors Begin Payment Of New Minimum Wage

At least 20 states have either started paying the new minimum wage or will commence payment from this week. After negotiations by the government, the Organised Private Sector and the Labour Centres, the minimum wage was raised from N30,000 to N70,000. The Federal Government has commenced payment. Following negotiations at the sub-national level with labour…

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