BUSINESS

In today’s uncertain economic climate, many individuals face various financial obstacles that hinder their path to financial freedom. Whether it’s managing debt, living paycheck to paycheck, or struggling to save for the future, overcoming these challenges requires proactive strategies and a shift in mindset. In this comprehensive guide, we’ll explore …

Budgeting is the cornerstone of financial success, especially for millennial navigating the complexities of adulthood. In this comprehensive guide, we’ll explore essential budgeting tips tailored specifically for millennial to help them take control of their finances, prioritize their spending, and achieve their financial goals. 1. Understanding the Importance of Budgeting: …

The Federal Government on Thursday announced the closure of the Third Mainland Bridge in Lagos starting from midnight of Saturday, October 21 to midnight of Sunday, October 22 to carry out repairs. The Federal Controller of Works in Lagos State, Mrs. Olukorede Kesha, in a statement, said the government was …

The Nigerian National Petroleum Company Limited (NNPC) has clarified that the contracts for pipeline rehabilitation were awarded based on evaluation criteria and following industry standards. The management of NNPC Limited made this known in a statement on Sunday while reacting to reports in some sections of the media alleging underhand …

The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has said the dollar might drop to N200 after the redesigning of the naira. Bawa stated this when he spoke in an interview with Deutsche Welle (DW) Hausa service. “The law says the redesigning of Naira notes should be …

Estée Lauder has agreed to buy Tom Ford’s high-end fragrances, making designer, film director, art collector and fashion world provocateur, Tom Ford now officially a billionaire.   On Tuesday, Estée Lauder announced it had agreed to buy his company in a deal that totaled $2.8 billion the largest in the luxury industry …

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has insisted that the Federal Government will do away with petroleum subsidy by June 2023. Ahmed said this on Tuesday in Abuja during a press conference to mark the end of the 28th National Economic Summit. The fuel subsidy gulped …

Amazon is planning to lay off up to 10,000 people, making the e-commerce titan the latest digital powerhouse to implement a large-scale redundancy strategy. According to The New York Times, this would be less than 1% of the group’s entire payroll, which had 1.54 million employees globally at the end …

One of the world’s richest men, Amazon founder Jeff Bezos says he wants to give most of his fortune to charities that can ‘fight climate change’ Jeff Bezos, 58, has pledged to give away the majority of his £110 billion fortune to climate charities. He said he wanted to support …

The national carrier project may be stopped by the court as domestic airlines have taken the Federal Government and its foreign technical partner and majority shareholders to court. About eight local airlines and their association took the government to court on Friday, listing Nigerian Air, Ethiopian Airlines, Minister of Aviation, …

The Minister for Aviation, Hadi Sirika, has said the Economic and Financial Crimes Commission (EFCC) is currently investigating the contractor that handled one of the cargo projects at the Nnamdi Azikiwe International Airport, Abuja. Sirika revealed this when he appeared before the House of Representatives Committee on Aviation to defend …

The United Kingdom has announced an investment of £95 million as part of its climate adaptation budget to help with climate resilient and sustainable agriculture in Nigeria.UK Foreign Secretary, James Cleverly announced the pledge at the Conference of Parties (COP) 27 on Climate Change going on in Sharm El Sheikh …

Over N52 billion cash has been deposited in Nigerian banks barely two weeks after the announcement of plans by the Central Bank of Nigeria (CBN) to redesign some naira notes. There were indications that the deposit sum may increase in the next few days because it is suspected that about …

Tesla Inc. Chief Executive Officer, Elon Musk has reportedly sold about 19.5 million shares of the company ever since he reached a deal to buy Twitter for $44 billion According to The Verge, these shares are close to worth $4 billion as per the forms filed with the Securities and Exchange Commission.  The report …

Foreign currency dealers have complained to the Inspector-General of Police, Usman Baba, about their ordeals in the hands of operatives of the Economic and Financial Crimes Commission following the arrests. The dealers will also send a copy of their petition to the Senate even as members of the Association of …

The Peoples Democratic Party, PDP, presidential candidate, Atiku Abubakar, has urged the Central Bank of Nigeria, CBN, to put former President Olusegun Obasanjo’s image on the redesigned naira notes. Atiku said “Obasanjo’s face should be on the naira note due to his efforts in making Nigeria a better place”The PDP …

The Economic and Financial Crimes Commission (EFCC) is monitoring some state governors who hid billions of naira in various houses. The EFCC Chairman, Abdulrasheed Bawa made this known in an interview with Daily Trust on Thursday, November 3. This comes on after of the recent announcement by the Central Bank …

Some offices of black market currency dealers in Abuja was on Tuesday, was raided by operatives of the Economic and Financial Crimes Commission, who arrested some Bureaux De Change operators.  The areas raided included Zone 4 of the Federal Capital, Abuja where numerous currency dealers thrive in large number and sell …

The Federal Government exceeded its borrowing by N1.15tn for the period between January and August 2022. A copy of the public presentation of the 2023 proposed budget by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, showed that the Federal Government planned to borrow N6.10tn in 2022. …

Former Emir of Kano, Muhammadu Sanusi, has said that the Central Bank of Nigeria governor, Godwin Emefiele, has confirmed to him that the Arabic inscription aka ‘Ajami’ would not be removed from the redesigned Naira notes. Since his announcement of the redesigning of the N200, N500 and N1000 notes, While …

A Nigerian man has inspired people on TikTok after he proudly showed off the N5.5 million he has saved in his piggy bank. n a viral video he posted on his TikTok handle @offwhite633, he brought out a large wooden box and carefully cracked it open. He has inspired many …

President Buhari on Sunday said he gave the Central Bank of Nigeria (CBN) approval to redesign and replace N200, N500 and N1, 000 notes, effective December 15, 2022. Buhari stated this in reaction to the outrage that greeted the announcement of the plan to introduce the redesigned Naira notes into …

The Federal Government on Wednesday approved a contract to indigenous motor company, Innoson, to supply 21 vehicles to the Federal Road Safety Corps (FRSC). Information Minister, Lai Mohammed, disclosed this to newsmen at the end of the Federal Executive Council (FEC) meeting chaired by Vice-President Yemi Osinbajo, at Aso Rock …

T.J. Maxx is the latest company to pull the plug on Kanye West’s Yeezy brand.  TJX Companies – operators of T.J. Maxx, Marshalls, and Home Goods – made the announcement on Wednesday. The company told CNN Business, “At TJX we do not tolerate discrimination, harassment, or hate of any kind. We have …

Nigeria’s tax agency, Federal Inland Revenue Service (FIRS) has announced that it has commenced the direct deduction and collection of taxes at transaction points from online gaming companies using the Sentinal National Payment Gateway and Electronic Solution. This was made known in a statement by Johannes Oluwatobi Wojuola, the Special …

A Federal High Court in Abuja has restrained Kogi State government from shutting down Dangote Cement factory in the Obajana area of the state. The court also stopped the state government from disrupting or suspending the activities of Dangote Coal Mines Ltd and Dangote Industries Ltd in Okaba, Ankpa Local …

The Central Bank of Nigeria has made a new announcement about naira notes. The bank announced that it will launch new Naira notes before the end of 2022. The newly redesigned Naira notes are to come into use, December 15, 2022. The CBN Governor Godwin Emefiele disclosed this at a …

The naira on Monday exchanged at N441.38 to the dollar at the Investors and Exporters window, an appreciation of 0.09 per cent, compared with N441.67 to the dollar it exchanged at the close of business on October 21. The open indicative rate closed at N440.40 to the dollar during the …

After initial losses, Sterling recovered ground strongly on Friday as the dollar retreated and risk appetite recovered. From lows near 1.1060, the Pound to Dollar (GBP/USD) exchange rate rallied strongly to highs above 1.1300. There was a fresh spike higher ahead of Monday’s Asian open with highs above 1.1400 as …

The first ship to set sail from Ukraine with grain exports since the beginning of the Russian invasion is due to leave on Monday under a guaranteed safe passage agreement, Turkey’s defence ministry said.The Sierra Leone-flagged ship Razoni will set off from Odesa port for Lebanon with its cargo of …

Danish Prime Minister Mette Frederiksen has expressed a wish to make her country “independent of Russian gas as soon as possible”, but specified no time frame. According to the energy company Ørsted, it is impossible to sever ties before 2030. Danish Prime Minister Mette Frederiksen expressed a desire to make …

(IN NIGERIA) Corporate Affairs Commission has told the House of Representatives’ Committee on Navy that HSL International Limited, the firm the Federal Government awarded the Deep Blue Project contract, is not registered with it. The President, Muhammadu Buhari, had on June 11, 2021, inaugurated the Integrated National Security and Waterways …

A former foreign office minister has said the UK risks falling into “dystopian economic collapse” should it move to sanction Russian gas. It comes as Britain may move this week to ratchet up sanctions on Russia’s oil and gas industries as part of efforts to isolate Putin’s regime globally. Sir …

United States airplane manufacturer Boeing has said that it is suspending parts, maintenance and technical support for Russian airlines as the effect of sanctions in the wake of Russia’s invasion of Ukraine ripple across the global aviation industry. Boeing said on Tuesday, that it had halted major operations in its …

Nigerian aviation workers have suspended their planned industrial action billed to commence today (Tuesday). This followed a Memorandum of Settlement reached by the workers and the Federal Ministry of Aviation in the early hours of Tuesday. Both parties signed agreement at the end of a conciliation meeting held at the …

The International Monetary Fund (IMF) has said that Nigeria has adequate capacity to repay all its loans. The executive board of the financial institution said this in a statement issued on Monday, following the conclusion of its 2021 article IV consultation with Nigeria. At the onset of the COVID-19 pandemic, Nigeria received a …

Four persons have been arrested for allegedly setting former President Olusegun Obasanjo’s farm on fire. The suspects linked to the fire at the farm located at Howe district of Gwer East Local Government Area of Benue State where improved varieties of mango and other crops are cultivated in large quantities, were …

Johnson & Johnson created a plan last year to limit the financial bleeding from billions of dollars in jury awards to plaintiffs who alleged the company’s Baby Powder and other talc products caused deadly cancers. The healthcare and consumer-goods giant assigned more than 30 staffers to “Project Plato.” In a …

The National Economic Council has said it will take decisions on petroleum subsidy removal in June when the six-month period for subsidy payment in the 2022 budget elapses. NEC comprising Vice-President Yemi Osinbajo and state governors among others, stated this at its first meeting for the year at the Presidential Villa, …

Poet and activist Maya Angelou has become the first Black woman to appear on the US quarter, in a new version of the coin unveiled by the US Mint on Monday January 10. Angelou, author of “I Know Why the Caged Bird Sings,” will also be the first figure commemorated …

Bill Miller, an American billionaire investor has revealed that half of his personal net worth is now invested in bitcoin and other cryptocurrencies, going against his own known advice that investors should allocate just 1%-2% of their portfolios to digital assets. In a long interview with WealthTrack, 72-year-old Miller said he first bought bitcoin …

The Nigeria Labour Congress (NLC) has started off mass mobilization of civil society organizations (CSOs), ahead of its planned January 27 and February 1 nationwide protests against the proposed removal of petrol subsidy by the Federal Government. In a letter signed by the NLC President, Ayuba Wabba and General Secretary Emmanuel Ugboaja …

The Federation Accounts Allocation Committee (FAAC) has shared a total of N675.946bn November 2021 Federation Account Revenue to the Federal Government, States and Local Government Councils, within a communiqué issued at the end of a virtual meeting of the Committee for December 2021. The N675.946bn total distributable revenue comprised statutory …

Amazon.com Inc was marketing a collection of President Xi Jinping’s speeches and writings on its Chinese website about two years ago, when Beijing delivered an edict, according to two people familiar with the incident. The American e-commerce giant must stop allowing any customer ratings and reviews in China. A negative …

Nyesom Wike, governor of Rivers, has stated the state is not in a fight with the federal government over the collection of value-added tax (VAT). Rivers state governor, revealed this on Sunday, in Abuja at a public lecture to mark the 60th birthday of Ahmed Raji, a senior advocate of …

18 Nigerian firms and individuals have been blacklisted by the World Bank over their engagement in corrupt practices, fraud and collusive practices in its 2021 the fiscal year 2021. This was contained in the list of debarred individuals and firms presented in the new annual report titled World Bank Group …

President Muhammadu Buhari will unveil the Central Bank Digital Currency (CBDC), known as the eNaira, today, October 25, 2021 at the State House, Abuja. The Central Bank Governor, Godwin Emefiele has said the eNaira would operate as a wallet against which customers could hold funds in their bank account. “The eNaira, therefore, …

A CCTV footage showing what caused the fire outbreak at a popular supermarket a week ago, has surfaced online.When residents on Saturday, July 17, woke up to a popular supermarket located at Lokogoma district in Abuja razed down by fire. According to reports, it was a battle by the firemen …

The enforcement team of the Lagos State Water Regulatory Commission (LASWARCO) has sealed 30 Water Factories across the State for various infractions ranging from unhygienic production environment, failure to comply with regulatory provisions as well as operating without adhering to good manufacturing practices. Executive Secretary of LASWARCO, Mrs. Funke Adepoju, …

The Federal Executive Council has approved five road contracts worth N309.9bn to be handled by the Dangote Group. Minister of Works and Housing, Babatunde Fashola, revealed this during a media briefing after the council meeting on Wednesday. He said the contract would cover five federal road projects of 274.9 kilometres …