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Reps to summon CBN, banks over unverified POS operators

The House of Representatives on Wednesday resolved to invite the Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the Chief Executive Officers of commercial banks to appear before it to propose solutions to the challenges posed by the lack of documentation of Point of Sale Users across the country. The resolution of the...
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Top 10 most expensive foods in Nigeria for October 2024

The cost of staple foods like rice, yam, plantains, and beans significantly increased in October 2024, as Nigeria’s headline inflation rate rose to 33.88%, up from 32.7% in September, marking a 1.18 percentage point increase. According to the National Bureau of Statistics Consumer Price Index report, the rise in inflation can be largely attributed to...
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Heineken to launch first large-scale brewery in Dubai

Dubai is set to host the Gulf’s first large-scale brewery as a joint venture involving Heineken NV prepares to produce popular beer brands in the emirate. This marks a significant shift in a region traditionally known for its strict regulations on alcohol sales and consumption. Sirocco, a partnership between Heineken NV and Dubai-based Maritime and...
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Nigeria’s BPO market to hit $1.8bn by 2028

The Chairman of Polar-Afrique Consulting, Mr Chris Itsede, has revealed that the Nigerian Business Process Outsourcing market, valued at approximately $980m in 2023, is projected to grow annually at a rate of 12.56%, potentially exceeding $1.8bn by 2028. Speaking at the 10th Fellowship Investiture/Induction Conference of the Association of Outsourcing Professionals of Nigeria, with the...
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Seed network pledges support for businesses

The Stanford Seed Transformation Network Nigeria has reaffirmed its commitment to fostering resilience among business leaders in challenging economic times as it inducted 16 new members into its ranks. The induction, recently held in Lagos, also doubled as the network’s end-of-year celebration with the theme “Connect, Collaborate, Conquer,” according to a statement. The President of...
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BIC awards winners of Art Master competition

Stationery brand BIC has given awards to Nigerian artists in the sixth edition of its Art Master Africa competition, a ballpoint pen art contest that spotlights creativity across the continent. The competition, which attracted participants across the continent to interpret the theme Ubuntu; a philosophy of unity and interdependence, using BIC’s ballpoint pen, celebrated winners...
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SEC cautions investors against cryptocurrency scammers

The Securities and Exchange Commission has cautioned investors and the general public against engaging with Marino FX Ltd, which is falsely claiming to be an SEC-licensed cryptocurrency exchange. In a statement released on Wednesday, on the commission website, the regulator clarified that Marino FX Ltd is neither registered nor licensed by the SEC to operate...
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FG attracted $1.27bn capital from BRICS countries – Shettima

Vice President Kashim Shettima has disclosed that Nigeria attracted $1.27bn in foreign capital from BRICS countries by June 2024, marking a significant rise from the $438.72m recorded during the same period in 2023. The BRICS bloc comprises Brazil, Russia, India, China, and South Africa, alongside newer members including Iran, Egypt, Ethiopia, and the United Arab...
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Nigeria-China trade relations hit $22.6bn in 2023

Vice President Kashim Shettima has revealed that Nigeria-China trade relations reached $22.6bn in 2023, making it one of the highest trade volumes between China and any African country. Shettima’s spokesman, Stanley Nkwocha, disclosed this on his official X (formerly Twitter) page on Wednesday. Nkwocha quoted Shettima to have said so while addressing a Chinese delegation,...
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I apologise for saying no heaven without tithe – Adeboye

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...