Iwo, an ancient town in Osun State, is said to be the most populous local government area in the state, according to the 2006 Nigeria National census figures of 191,348. It has over 30 traditional rulers, all under the Oluwo of Iwoland, Oba Abdulrasheed Adewale Akanbi, as the only Consenting Authority and first-class paramount ruler…
Hopes for cheaper Premium Motor Spirit (PM), otherwise known as petrol, rose, last night, as indications emerged that the product may sell for between N857 and N865 per litre after the Nigerian National Petroleum Corporation Limited (NNPCL) starts lifting the product from Dangote Refinery today. It was learnt that the NNPCL, as the sole off-taker…
A surge in fraudulent activities across banking platforms in Nigeria led to a loss of N42.6 billion by Nigerian banks in three months between April and June this year. This was revealed by the Financial Institutions Training Centre (FITC) in its Q2 2024 Fraud and Forgeries report just released. Without adding the Q1 record, the…
The Federal Government has started selling crude oil to local refineries and buying petroleum products using Naira. This move will help reduce pressure on the Naira, lower extra costs and make fuel more available. This was disclosed in a statement on X by The Federal Ministry of Information and National Orientation on Saturday, September 14….
The loading of Premium Motor Spirit (petrol) from Dangote Refinery for local consumption will commence on Sunday, September 15. The Presidential Committee on the Sale of Crude Oil and Refined Products announced this at the end of its meeting in Abuja on Friday night. The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji,…
Liberia’s Vice President, Jeremiah Kpan Koung, has praised Nigerian banks for their significant contributions to Liberia’s economic growth. Speaking at the 17th Annual Banking & Finance Conference in Abuja, Koung noted that Nigerian investors own four out of eight commercial banks in Liberia, increasing market competition and efficiency. The four Nigerian-owned banks in Liberia are…
Marketers of petroleum products in Nigeria have reportedly written to President Bola Tinubu to complain that the drop in price of Dangote Refinery’s diesel to N900 per litre, is negatively affecting their businesses. Devakumar Edwin, Vice President, Dangote Industries Limited, disclosed this on a Twitter Spaces session organized by Nairametrics. “Petroleum product marketers in Nigeria…
The Dangote refinery may resort to exporting its Premium Motor Spirit (petrol) following the refusal of the Nigerian National Petroleum Company Limited to be the sole buyer of its product. The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than…
Financial technology companies have started charging levies on electronic transfers into personal and business accounts in compliance with the Federal Inland Revenue Service regulations. In a notice to its customers on Saturday, OPay, one of the fintechs, stated, “Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will…
The federal government through the Corporate Affairs Commission (CAC) has warned Point of Sale (POS) operators in the Fintech sector and threatened to shut down those who fail to register their businesses. The CAC in a statement on Friday noted that the 60-day deadline for registration, which expired on September 5, 2024, has not been…