Business

The rhythm of Nigeria's business world
Nigeria fines Meta $220 million for violating data privacy laws. The FCCPC's decision, following a 2021 investigation, cites unauthorized data sharing and market dominance abuse. Nigerian social media reactions vary from support for accountability to skepticism about the fine's impact on the...
Nigeria's consumer protection agency, FCPC fines Meta $220 million for alleged discriminatory practices and data privacy violations. The penalty follows a joint investigation into Meta's operations from 2021 to 2023. The decision highlights increasing regulatory scrutiny of tech giants in...
The naira fell to N1,620 against the dollar in the parallel market on July 18, marking its fifth straight day of depreciation. Official rates showed a slight recovery to N1,566.82. The Central Bank of Nigeria's interventions and calls for stabilization highlight ongoing concerns about currency...
NMDPRA clarifies that Dangote refinery is at 45% completion and has not been licensed, addressing concerns about energy security and product quality. Social media reactions are mixed, with users questioning political interference and the refinery's progress. The Nigerian Midstream and...
The CBN has authorized the sale of $20,000 to each BDC at N1,450/$1 to bolster the naira and address forex market challenges. This initiative aims to stabilize exchange rates and reduce disparities between official and parallel markets. Stay informed on CBN's efforts to enhance currency...
Nigeria's Naira hits a historic low, trading at N1,630/$1 on online platforms. The currency crisis, driven by high demand and limited supply, impacts businesses and everyday Nigerians. Experts call for robust economic policies to stabilize the currency and ensure sustainable growth. The naira...
President Tinubu appoints Didi Walson-Jack as Nigeria's new Head of Civil Service, effective August 14, 2024, succeeding Dr. Folasade Yemi-Esan. Walson-Jack, a Federal Permanent Secretary since 2017, is set to take over key administrative roles amid the transition. President Bola Tinubu has...
The Dangote Refinery accuses International Oil Companies (IOCs) of obstructing crude purchases and inflating prices. Despite the Petroleum Industry Act’s provisions, IOCs demand premiums above official prices. The refinery urges the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to...
Aliko Dangote announced that Dangote Group aims to be the leading FX supplier, targeting $30 billion in revenue by 2025. This shift aims to boost the Naira's value by increasing forex inflows through Dangote's businesses. The refinery's full operations and planned stock listings are part of this...
Nigeria secures $751.88 million from World Bank's $1.5 billion loan for economic reforms. The RESET program aims to boost revenues, expand social safety nets, and liberalize imports. Conditions include VAT reforms and executive orders. World Bank to monitor Nigeria's compliance with agreed...
Back
Top