...news, reports, issues... about Lagos
Nigerians no longer worry over what the state of the nation will look like tomorrow. Everyone is now focused on how to survive in the failing economy. It is no longer news that people’s purchasing powers have continued to decrease, as prices of goods and services continue to rise, unabated. The continuous rise has affected […]
Manufacturers of fast-moving consumer goods, FMCG are in dire agony over the continued rise in unsold goods in their warehouses, a development which would lead to a further significant decline in output level in the sector.The continued rise in unsold goods is caused by two factors namely the rising cost of living and the declining […]
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to stop the implementation of 0.5 percent cybersecurity charges on electronic transactions. This was disclosed in a circular to all commercial, merchant, non-interest, payment service banks, other financial institutions, mobile money operators and payment service providers. The circular was jointly signed by Chibuzor Efobi, […]
The World Bank has blacklisted 58 Nigerian companies and individuals for engaging in corrupt practices, a move which comes as part of the institution’s ongoing efforts to uphold integrity and transparency in its projects and operations. Among those affected are 39 Nigerian companies previously debarred by the African Development Bank (AfDB), along with 19 individuals identified by […]
The earnings of some of Nigeria’s biggest banks more than tripled in the first three months of 2024 as a result of the record hike in the benchmark interest rate by the Central Bank of Nigeria (CBN). This development marks a turnaround from when the devaluation of the naira led to huge foreign exchange gains […]
Point of Sale operators under the aegis of the National President of the Association of Mobile Money and Bank Agents in Nigeria says it has concluded plans to head to court to address the legality of the mandatory Corporate Affairs Commission for its members. The President of the association, Fasasi Sarafadeen, faulted the directive mandating […]
The Federal Government is working on a system that will provide tax relief to 95 percent of the informal sector of the economy. Mr Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms Committee, said this at the closing session of the committee on Sunday in Abuja. He said this would be achieved […]
Tiny generators known to power the homes of the least wealthy households and shops of the smallest businesses in Nigeria’s commercial capital, Lagos, have gone out of reach for many amid a rapid price surge. “I better pass my neighbour,” the phrase used to describe the generators, now make their owners not only better than […]
The Federal Government has said mandatory registration of Point-of-Sales operators nationwide will reduce kidnapping and help security agencies arrest recipients of ransom payments from kidnap victims. It also vowed that security agencies would go after PoS operators who fail to comply with the directive to register with the Corporate Affairs Commission after July 7, 2024. […]
The Corporate Affairs Commission (CAC) has given Nigeria’s 1.9 million PoS agents a deadline of two months to onboard and register its agents and merchants with the commission as part of plans to improve transparency and reduce fraud in the financial space. Daily Trust reports that CAC announcement is coming on the heels of the […]
