Business
The rhythm of Nigeria's business world
Former employees of Honeywell Flour Mills (HFM) Plc staged a peaceful protest against Flour Mills of Nigeria (FMN) Plc's decision to deduct gratuity from their severance packages. The demonstration occurred at HFM's Tincan office, where more than 25 ex-workers held placards reading, "Our...
The Central Bank of Nigeria (CBN) has introduced an online platform called the CBN Licensing, Approval and Other Requests Portal (CBN LARP) for microfinance bank (MFB) license applications. This new digital platform will replace the previous manual submission process for MFB license...
The exchange rate between the Nigerian naira and the US dollar plummeted to an all-time low of N983/$1 in the black market, according to data from Nairametrics. This represents a 2.93% drop from the previous day's rate of N955/$1 and a significant depreciation from the N950/$1 rate observed just...
PayDay, a Nigerian fintech startup, has been in turmoil as it discusses a potential acquisition. The company, which raised $3 million in a seed funding round led by Moniepoint six months ago, is reportedly negotiating with potential buyers.
Favour Ori, CEO of PayDay, confirmed that the company...
Kano, Nigeria — The Nigerian National Petroleum Company Limited (NNPC) has made a significant move by compulsorily retiring all management staff members with less than 15 months remaining until their statutory retirement. The decision, announced via the company's official social media platform...
Americas
Elon Musk's Bold Plan to Transform X/Twitter: Subscription Fees for All Users! What You Need to Know About the Twitterverse Shake-Up
Image by Iván Jesus Rojas from Pixabay
Elon Musk has suggested that he may transition X, formerly known as Twitter, into a subscription-based social network. During a discussion on artificial intelligence with Israeli Prime Minister Benjamin Netanyahu, Musk mentioned the possibility of charging...
Nigeria
Shocking Revelation: NNPC Fails to Remit $1.9 Billion in 2021- Here's What You Need to Know!"
The Nigeria Extractive Industries Transparency Initiative (NEITI) has reported that the Nigerian National Petroleum Corporation Limited (NNPC) did not remit $1.9 billion to the government's account by the end of 2021. NEITI conducts annual audits of the oil, gas, and solid minerals sector in...
Oil marketers in Nigeria have warned that the combination of increasing crude oil prices and the depreciation of the naira against the US dollar may result in a surge in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. They revealed that the cost of crude oil and the...
The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Muhammed Shehu, clarified that political officeholders do not earn exorbitant salaries. Contrary to misconceptions, he revealed that President Bola Tinubu earns less than N1.5 million monthly, and ministers earn...
Nigeria has encountered a substantial revenue loss of over N8.7 trillion ($21 billion) from January to August 2023 due to its inability to meet its allocated quota by the Organization of Petroleum Exporting Countries (OPEC). This unfortunate situation has transpired at a time when Nigeria is...
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