...news, reports, issues... about Lagos
THERE were indications,weekend, that businesses and others might be losing over N100 billion monthly as containers and petrol tankers continue to stay permanently on Apapa roads and environs in Lagos, where Tin Can and Apapa ports, factories, bonded terminals and other corporate organisations carry out their operations.Our Correspondents, who monitored the situation, noticed that the […]
•Deploys ONSA, CBN, Police, EFCC, Customs, NFIU to combat speculative activities •Tinubu Says $10bn FX inflow coming •President declares govt will create millions of jobs, unlock trillions in public wealth to boost economy •Shettima: Some forces hell-bent on plunging country into anarchy •NACCIMA writes CBN Gov, minister of trade, proffers Strategies to address naira slide, […]
The Special Adviser to the Lagos State Governor on eGIS and Urban Development, Dr. Olajide Abiodun Babatunde, has defended the move by the State Government to relocate the Computer village from Ikeja to Katangua area of the state. Speaking during an on-site evaluation of Computer Village in Ikeja on Tuesday Babatunde said the relocation was […]
The Chief Executive Officer of Nigerian Breweries Plc, Hans Essaadi, has said that the economic situation in Nigeria has deteriorated to the extent citizens can no longer afford to buy beer. Essaadi said this on Monday at the company’s investor call following the release of its 2023 results. “It has been unprecedented year for our […]
Dollar sales by Deposit Money Banks and other entities at the Nigeria Autonomous Foreign Exchange Market dropped by $252m to $84.1m on Friday. This represents a 74 percent drop from the $331.1m transactions recorded at the official Nigeria Autonomous Foreign Exchange Market on Thursday. Meanwhile, the naira depreciated to N1,537/$ on Friday from N1,498/$ recorded at the […]
Operators in the Micro, Small and Medium Enterprises (MSMEs) are fuming over the harsh economic scenario in the country that is leading to the death of many Small and Medium Enterprises(SMEs) in recent times. Price shocks, unavailability of raw material, exchange rate volatility and lack of awareness about mechanisms to manage unpredictable markets, the FX […]
The naira fell to a new all-time-low of N1,534/$ on the official Nigerian Autonomous Foreign Exchange Market on Monday. This indicates a loss of 3.93 per cent fall or N58 from the N1,476.13/$ the national currency closed last week Friday, according to FMDQ Exchange, a platform that publishes official foreign exchange trading in the country. […]
Nigerians will soon experience another wave of increases in the prices of goods by major manufacturers as most of them now depend more on loans to fund their operations, resulting in higher interest payments and increased cost of production. Financial Vanguard investigations show that due to scarcity of foreign exchange, general cash flow challenges and […]
The Central Bank of Nigeria has instructed regulated entities to provide customers with notices of outstanding obligations before beginning debt collection. This is to ensure that the debt recovery process is transparent, courteous, and fair. CBN stated this in a document released on Thursday on its website titled “Revised Consumer Protection Regulations.” It noted that […]
As Eight Million Businesses Shutdown In 2023 – ASBON National President The last five weeks have been an agonising period for Small and Medium Enterprises (SMEs), especially artisans – welders, frozen food operators, barbers, among others – due to the disruption in power supply in some parts of the country. Scores of traders have incurred […]
