Thursday, June 30

Business

Wendy Williams says she can only feel 5 percent of her feet but it has inspired her next business plan
Business, Celebrity Gist

Wendy Williams says she can only feel 5 percent of her feet but it has inspired her next business plan

Wendy Williams has spoken out for the first time since The Wendy Williams Show ended. The media personality, who missed the series finale of her long-running chat show less than two weeks ago, said now that she is "100 percent retired" from the TV show, she's setting her sights on several new projects. Wendy, 57, revealed that she "can only feel maybe five percent of my feet" as a result of her ongoing struggle with Lymphedema. She did however note in a TMZ Live interview Wednesday, June 29, that she can stand up independently and does not currently require a wheelchair. She said her health battle has given her a new business idea: sneakers that would cater to the swollen feet caused by Lymphedema, which is caused by a blockage in the lymphatic sys...
EXCLUSIVE : Nigerians ‘Consume’ 2bn Litres Of Petrol In 28 Days
Business

EXCLUSIVE : Nigerians ‘Consume’ 2bn Litres Of Petrol In 28 Days

Petrol pump As the struggle to get Premium Motor Spirit (PMS) otherwise called petrol mounts, it has been estimated that Nigerians guzzled 2,020,248,000 litres of the product and spent at least N333.34 billion at official retail pump price on it in one month. Observers have, however, queried the figures. This week, petrol scarcity was more pronounced across Lagos, Abuja and other parts of the country leading to a hike transport fare across states. While some marketers blamed diesel hike on freight cost to lift the product, some others blamed NNPC Limited for cutting the daily quota to marketers from about 103 million to 65m since the last two weeks, after the government agency suspected higher rate of product smuggling. At the moment, various stations sell the product...
Business

State Houses Of Assembly Urged To Pass Local Government Autonomy Bill

State Houses of Assembly that are yet to pass local government autonomy bills into law have been urged to do so to enhance good governance at the grassroots level. Speaking at a stakeholders’ meeting in Lagos, the National Team Leader of Partnership to Engage Reform and Learn, Dr Adiya Ode, charged state legislators to pass the bills to bring government close to the people. The meeting was attended by journalists, social development advocates including new media influencers and social affairs analysts. Ode charged the participants to deploy their tools to mainstream the issue of local government autonomy and mobilise citizens to partake in the crusade until the bills are passed into law. He charged all Nigerians to add their voices to demand functional local government...
Hawker shocks motorists after he tried selling iPhone 11 Pro Max for N200k in traffic {VIDEO}
Business

Hawker shocks motorists after he tried selling iPhone 11 Pro Max for N200k in traffic {VIDEO}

A hawker shocked motorists in Lagos state after he tried selling an iPhone 11 Pro Max for N200k in traffic.  In the video shared online, the hawker was seen running after a car as its passengers queried him over the sale.  Watch the video below........... https://www.instagram.com/tv/CfKCOlHO0Iv/?utm_source=ig_web_copy_link Kindly leave your comment, like and share this story: FOR MORE INFOR, NEWS UPDATE AND LIVE STERAM JOIN US BELOW AND PLEASE HELP TO REACH 1K SUBSCRIBERS ON OUR YOUTUBE CHANNEL THANKS AND GOD BLESS https://youtu.be/EmD6FSuOK_c
Entire British Airways crew put in isolation over monkeypox fears after one tests positive for the infection
Business, Health

Entire British Airways crew put in isolation over monkeypox fears after one tests positive for the infection

An entire British Airways crew has been put into isolation in Singapore after one of them tested positive for monkeypox. The two pilots and nine stewards and stewardesses have all been put in quarantine for 21 days, according to Mail Online.  Health officials detected the infection in one steward when staff were tested after landing on Sunday evening. A BA insider said: 'One of them had it, so they impounded the whole crew. Now they have got to spend 21 days in quarantine.  'Everyone has been told not to talk about it – but it's all everyone is talking about.' The flight is on British Airways' flagship London to Sydney route, which goes via Singapore.  The crew are believed to have completed the outward journey and had a 2...
Telsa CEO, Elon Musk’s $44 bn deal gets unanimous endorsement from Twitter board
Business

Telsa CEO, Elon Musk’s $44 bn deal gets unanimous endorsement from Twitter board

Twitter's board has reportedly recommended unanimously that shareholders approve the proposed $44 billion saless of the company to billionaire and Tesla CEO Elon Musk. This was contained in a regulatory filing on Tuesday, June 21, according to ABC News. At the Qatar Economic Forum in an interview with Bloomberg, Musk listed the approval of the deal by shareholders as one of several “unresolved matters” related to the Twitter deal. AFP quoted Musk saying that his $44 billion move to take over Twitter remained held up by “very significant” questions about the number of fake users on the social network. “There are still a few unresolved matters,” Musk said by video link. This includes whether “the number of fake and spam users on the system is less than five percent a...
Kano Traders Groomed On Forex Trading
Business

Kano Traders Groomed On Forex Trading

A global platform providing basic information inquiry and regulatory license inquiry on forex trading, WikiFX, has called on investors that are either into forex trading or having interest in it to get the necess At a seminar, which took place at H&H Plaza, Kano, two experts engaged the participants on safe forex trading. The organizers of the event, Abdulmajid Shehu Zakar, and Hamza Abdulkarim, said WiKiFX decided to organise the event to teach people who are interested in forex or want to enhance their trading results how to trade fore0x. “The goal of the one day seminar is to help traders understand the current situation of forex trading, and how to mitigate in the future, ” said one of the organisers, Hamza. One of the resource persons, Aushazu Mukhtar Dahi...
We Can’t Continue To Sell Petrol At N165 Per Litre – IPMAN
Business

We Can’t Continue To Sell Petrol At N165 Per Litre – IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said its members can no longer continue to dispense Premium Motor Spirit (PMS), popularly known as petrol, at the regulated price of N165 per litre, citing unfavourable business environment. Akin Akinrinade, chairman, Lagos satellite depot, made this known in a media briefing in Lagos on Monday. 2023: INEC will comply with court order on voter registration – Okoye2023: Nigerians not ready for Peter Obi Presidency – Babangida Aliyu “Our members can no longer sell at N165. In fact, there is no reasonable businessman in this business that can sell below N180 per litre,” he said. He added that members of IPMAN shut dow...
JUST IN : Black Marketers Take Over As Fuel Scarcity Bites Harder In Lagos
Business

JUST IN : Black Marketers Take Over As Fuel Scarcity Bites Harder In Lagos

Abdullateef Aliyu Fuel scarcity which spread to Lagos, the nation’s commercial capital, over the weekend is now biting harder with motorists spending their night at filling stations. Reports by our correspondent within Ikeja and its environs indicated that most petrol stations are now shut down, claiming they have run out of stock while only a few were dispensing. In all the few filling stations, our correspondent observed long queues of between 500 meters to almost one kilometer as motorists scrambled to get fuel. Those affected included both the commercial and private vehicle owners who lamented spending long hours in the queues. At a Mobil Station along the Obafemi Awolowo Road near the popular Allen Roundabout Ikeja, our correspondent reports that the queue had exte...
Selling petrol at N165 is unrealistic – IPMAN says as fuel scarcity persists in Lagos
Business

Selling petrol at N165 is unrealistic – IPMAN says as fuel scarcity persists in Lagos

Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), have said that it has become unrealistic for the pump price of petrol to remain at N165 per litre. The chairman of the Lagos chapter of the union, Akin Akinrinade, stated this while reacting to the recent fuel scarcity being experienced in Lagos state. According to him, the situation across the state is a result of the operating environment which has become hostile to their businesses.  In an interview with Channels TV, Akinrinade said marketers have found it difficult to operate considering the dependence on diesel whose price has skyrocketed. He listed the high cost of buying petrol at the depots, the high cost of diesel for running their station, and the increased cost of freigh...
Public debt in Nigeria and other countries now at 50 year high – World Bank
Business

Public debt in Nigeria and other countries now at 50 year high – World Bank

The World Bank Group has said that public debt in Nigeria and other low- and middle-income countries is now at a 50-year high, which is equivalent to more than 200 per cent of government revenues. According to a new report titled, “Raising the Bar on Debt Transparency,” released by the bank, the pandemic-induced economic slowdown, the impact of the war in Ukraine and the rise of interest rates, many countries were facing severe challenges in servicing their debts. The report read in part “Total public debt stands at an alarming 50-year high in low- and middle-income economies, the equivalent of more than 200 percent of government revenues.” According to the World Bank’s recent International Debt Statistics 2022 report, as a result of COVID-19, the external debt burden...
The Next Titan Nigeria is back for Season 9 with N20M Grand Prize, and N5M for Runners-up
Business

The Next Titan Nigeria is back for Season 9 with N20M Grand Prize, and N5M for Runners-up

The Search for the Game Changers begins! And this could be your own opportunity as Number One Entrepreneurial Reality TV Show, THE NEXT TITAN NIGERIA is back for Season 9, tagged -The Game Changers. The Season 9 is scouting for tenacious entrepreneurs, the bravehearts, and the masterminds with unbeatable business ideas and the skills, the drive, and the will to transcend all barriers and limitations. The winner of the Season 9 of the 12-week business reality show will walk away with a Cash Prize of N20 Million Naira, and N5 Million Naira for the Runners-up Auditions will hold in Lagos, Abuja, Port Harcourt, Enugu and Online for entrepreneurs (21 -40 years old). The Season 9 is brought to you by Headline Sponsor, LUNO (a global c...
JUST IN : Soludo relocates Onitsha head bridge drug market to Oba
Business

JUST IN : Soludo relocates Onitsha head bridge drug market to Oba

ANAMBRA State governor, Professor Chukwuma Soludo has finally taken the bold step that would see the popular drug market from head bridge, Onitsha to Oba in Idemili South local government area. There had been several attempts by previous administrations in the state to relocate the market considered to be one of the biggest in the country, but the drug dealers themselves had consistently posed a stumbling block. At the weekend, Soludo, while performing the groundbreaking ceremony for what he named the International Drug Coordinated Wholesale Center at Oba, explained that the project would be bankrolled by Sterling Bank Plc with a completion deadline of twenty four months. Explaining the importance of the project, Soludo said the initiative tallied with his administration’...
Price Of 5kg Cooking Gas Hits N3,921.35 – NBS
Business

Price Of 5kg Cooking Gas Hits N3,921.35 – NBS

FILE PHOTO: Nigerians groan as cooking gas price keeps soaring The National Bureau of Statistics (NBS) says the average price of refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) increased to N3,921.35 in May 2022. This is contained in the NBS Liquefied Petroleum Gas (Cooking Gas) Price Watch for May 2022 released in Abuja on Sunday. The NBS said refilling the cylinder used to cost N3,800.47 in April 2022, adding that the increase indicated a 3.18 per cent month-on-month increase. However, on a year-on-year basis, the average retail price of cooking gas increased by 89.28 per cent from N2,071.69 in May 2021. The report showed that the highest average price for refilling a 5kg cylinder of cooking gas was recorded in Gombe at N4,366.67, followed by Bayelsa...
Nigeria To End Kerosene Lighting By 2030 – Buhari
Business

Nigeria To End Kerosene Lighting By 2030 – Buhari

Muideen Olaniy President Muhammadu Buhari has renewed Nigeria’s commitment for a safer and healthier global climate with the inclusion of elimination of kerosene lighting by 2030, increase in use of buses for public transport and reduction in burning of crop residues in the country’s updated Nationally Determined Contribution (NDC).   The president spoke on Friday in a virtual meeting hosted by President Joe Biden of the United States, on Major Economies Forum on Energy and Climate Change (MEF).   The Federal Government of Nigeria, in collaboration with stakeholders in the petroleum industry, had in December 2012 commenced drafting of a new policy to phase out kerosene and firewood usage and replace them with Liquefied Petroleum Gas (LPG), otherwise known as cooking gas. ...
US cosmetics giant, Revlon files for bankruptcy
Business

US cosmetics giant, Revlon files for bankruptcy

Revlon, a 90-year-old cosmetics giant, has filed for Chapter 11 bankruptcy protection because of its crippling debt and mounting celebrity competition. The company has been a mainstay on store shelves since its founding 90 years ago in New York City, overseeing a stable of household names, from Almay to Elizabeth Arden. Revlon failed to keep pace with changing tastes, slow to follow women as they traded flashy red lipstick for more muted tones in the 1990s. In addition to losing market share to big rivals like Procter & Gamble, newcomer cosmetic lines from Kylie Jenner and other celebrities successfully capitalized on the massive social media following of the famous faces that fronted the products. Already weighed down by rising debt, Revlon’s problems o...
FCMB provides 300,000 underbanked Nigerians with Microloans worth N40bn
Business

FCMB provides 300,000 underbanked Nigerians with Microloans worth N40bn

First City Monument Bank (FCMB), through EasyAgents, its agency banking network and other channels, has successfully onboarded and empowered one million financially excluded Nigerians, ensuring they have a better and more sustainable future through access to financial services. As part of its financial inclusion programme, the Bank has provided microloans valued at N40 billion to over 300,000 beneficiaries comprising 200,000 women traders across the country who have accessed over US$51.28 million (N28.7 billion) of the total loan sum. Committing to affordable and sustainable financial services for unbanked and underbanked Nigerians, the Managing Director of FCMB, Mrs Yemisi Edun, said: "We are proud of our significant role in integrating Nigeria's huge informal...
CBN makes new plans to fix forex crisis
Business

CBN makes new plans to fix forex crisis

CBN Governor, Godwin Emefiele  Share Central Bank of Nigeria (CBN) Governor Godwin Emefiele hinted yesterday of new plans to combat the nation’s forex crisis. He said the apex bank was looking beyond monetary policy measures to deal with the challenges. According to Emefiele, monetary policies cannot sufficiently address the problem in the face of rising demand for foreign exchange for goods, services and other needs. Speaking at the maiden bi-annual Non-Oil Export Summit in Lagos, Emefiele described the RT200 FX Programme recently unveiled by the apex bank as one of such strategies. The RT200 FX Programme is an initiative of the Bankers’ Committee aimed at raising $200 billion in non-oil export earnings over the next three to five years. Emefiele listed valu...
Tesla CEO, Elon Musk and companies sued for $258bn over alleged Dogecoin ‘pyramid scheme’
Business

Tesla CEO, Elon Musk and companies sued for $258bn over alleged Dogecoin ‘pyramid scheme’

Elon Musk and two of his companies, Tesla and SpaceX, are facing a $258 billion lawsuit after an investor claimed he was “defrauded” by a Dogecoin “pyramid scheme.” The investor, Keith Johnson, has named the entrepreneur, as well as his companies Tesla and SpaceX, in the lawsuit filed in federal court in Lower Manhattan on Thursday, June 16.  Mr Johnson is demanding $86bn in damages in addition to tripled damages of $172bn for losses incurred from trading the cryptocurrency since 2019, as well as an order blocking Musk and the companies from promoting Dogecoin, and declaring that Dogecoin trading constitutes gambling under US and New York law. The price of one dogecoin on Thursday was just below six cents, a long way off from its M...
‘They are 100% based on greater fool theory’ – Bill Gates slams crypto and NFTs
Business

‘They are 100% based on greater fool theory’ – Bill Gates slams crypto and NFTs

Microsoft co-founder Bill Gates has called cryptocurrencies and Non Fungible Tokens a sham  Gates said he's not a fan of digital currencies or investments and that cryptocurrencies and NFTs are "100% based on greater fool theory." NFTs are tokens that can't be exchanged for one another. They're often touted as a way to prove ownership of digital assets like art or sports collectibles.  Many NFTs are built on the network behind ethereum, the second-biggest token. Speaking at a TechCrunch talk on climate change Wednesday, Gates described the phenomenon as something that's "100% based on greater fool theory," referring to the idea that overvalued assets will go up in price when there are enough investors willing to pay more for them. Gates joked that "expensive...
BREAKING : Airlines May Shut Down Soon, Operators Lament Jet Fuel Crisis
Business

BREAKING : Airlines May Shut Down Soon, Operators Lament Jet Fuel Crisis

There is no end in sight to the crisis over aviation fuel known as Jet A1 as the Airline Operators of Nigeria (AON) has raised fears that three airlines may soon shut down operations. Though the three airlines were not mentioned, the Vice-President of AON, Mr. Allen Onyema, confirmed that the fuel price has now hit an all-time high of N714 per litre. Daily Trust reports that several interventions by the Federal Government and the National Assembly have failed to resolve the crisis as the price of Jet A1 continues to skyrocket. In his presentation at the ongoing Federal Airports Authority of Nigeria (FAAN) National Aviation Conference (FNAC) in Abuja, Onyema said while the aviation fuel crisis is not limited to Nigeria, it was made worse by the naira to dollar exchang...
Reaction as Diesel price may hit N1,500 per litre in the next two weeks – Marketers
Business

Reaction as Diesel price may hit N1,500 per litre in the next two weeks – Marketers

The Natural Oil and Gas Suppliers Association has said that the price of diesel would keep increasing and might hit N1,500 per liter in the next two weeks if nothing drastic is done to curtail the current challenge faced by importers of the product. Speaking to newsmen in Abuja, the National President of the Association, Bennett Korie, said that about 75 per cent of filling stations across the country are currently out of business due to their inability to purchase diesel required to power their tankers and transport Premium Motor Spirit, popularly called petrol, to their various outlets. He stated that the only solution to the current challenge is for the Federal Government to raise the pump price of petrol a little in order to reduce the huge foreign exchange used ...
JUST IN : JP Morgan wins $1.7 billion UK trial against Nigeria
Business, Law

JUST IN : JP Morgan wins $1.7 billion UK trial against Nigeria

JP Morgan wins $1.7 billion UK trial against Nigeria JP Morgan Chase Bank has won a $1.7 billion court battle with the Nigerian government over the transfer of proceeds from the sale of OPL 245 in 2011. The Federal government had sued JP Morgan on the ground of “Quincecare duty”, alleging that the bank “ought to have known” that there was corruption and fraud in the transaction which saw Malabu sell its 100 percent in OPL 245 to Shell and Eni for $1.1 billion. However, the bank rejected the Nigerian government’s claim, maintaining that all due processes were followed and money laundering checks were done, arguing that allegations of fraud only came up after a new government took over in Nigeria. Nigeria argued that there were enough “red flags” for JP Morgan to have halted...
Russia has earned $97bn on energy exports since invasion of Ukraine
Business

Russia has earned $97bn on energy exports since invasion of Ukraine

Russia earned $97bn from oil and gas exports during the first 100 days of the war in Ukraine, according to a new report. According to the independent Centre For Research on Energy and Clean Air (CREA), oil revenues have been falling since March, after many countries shunned Russian energy supplies, but Russia's revenues from energy is still high. The EU, US and UK are among those to have pledged to cut Russian imports. Overall, energy sales has also declined from a peak of well over $1bn a day in March but Russia still earned $97bn in revenue from fossil fuel exports in the first 100 days of the Ukraine conflict, from 24 February to 3 June, the CREA report found. The European Union made up 61% of these imports, worth approximately $59bn. The report added that Russia...
Court Orders Unsealing Of Zenith Bank In Imo
Business

Court Orders Unsealing Of Zenith Bank In Imo

The Court of Appeal sitting in Owerri, yesterday, ordered the unsealing of Zenith Bank branches in Owerri, the Imo State capital. The order followed an appeal by the Imo State government over the order of the National Industrial Court, which ordered the bank to pay N1.9 billion to a former deputy governor of the state, Eze Madumere.  Madumere had sued the state government attaching the accounts of the state with the bank as garnishee.  He had claimed that he’s being owed N1.9bn being his benefits while in office. The state government in its statement of claims had asked the court to unseal the bank in order to allow it carry out its financial transactions. The government also asked the Court of Appeal for the leave to file an appeal against a judgement of the N...
SoKlin & Paris Saint-Germain unveil West Africa Regional Partnership
Business, Sports

SoKlin & Paris Saint-Germain unveil West Africa Regional Partnership

SoKlin, together with Paris Saint-Germain, has unveiled an exclusive regional partnership in West Africa. This is a 3-year partnership which will extend to 2025, covering the West African countries of Nigeria, Ghana, Senegal, Ivory Coast, and Mali. SoKlin, a Wings Group brand, is a household name in the region, as a leading premium detergent in sub-Saharan countries. Since its introduction to the continent in 1995, the Concentrated Detergent brand has been trusted by millions of families in Africa to provide an excellent wash that is ‘Faster, Brighter, and Cleaner’. This is thanks to its ‘30% Concentration’ formulation and constant pursuit of high quality. Paris Saint-Germain enjoys immense popularity in the region for its leading performance; boasting more than 21 million A...
Access Bank Reiterates Funding for SMEs
Business

Access Bank Reiterates Funding for SMEs

L-R: Kunle Sosanya; Ayodeji Fambo,  Relationship Managers,  Private Banking, Access Bank ; Chairman Instagas Limited, Ifeoma Onubagu; Deputy Managing Director Access Bank , Victor Etuokwu; and  Paul  Modebe, Relationship Manager,  Private Banking, Access Bank during the Access Bank Cocktail and Business Conversations in Abuja recently.  Nigeria’s top financial lender, Access Bank, has pledged to fund entrepreneurs and create market access for small businesses by putting them in the right community. Speaking during a conversation with customers in the micro-, small- and medium- scale category, Deputy Managing Director, Access Bank, Victor Etuokwu, said the bank remained resolute in its drive to engage and empower MSMEs by providing access to fun...
Judge approves seizure of jets belonging to former Chelsea owner, Roman Abramovich
Business

Judge approves seizure of jets belonging to former Chelsea owner, Roman Abramovich

A federal judge in New York on Monday, June 6, approved a warrant authorizing the seizure by the Justice Department of two jets owned by Russian oligarch and former Chelsea,  Roman Abramovich, which are valued at more than $400 million. The order from Judge Sarah Cave, based in Manhattan, is one of several sanctions from the US, and other western countries aimed at billionaires from Russia over the invasion of Ukraine.  The jets tied to Abramovich, who is close to Russian President Vladimir Putin, are a Boeing 787-8 Dreamliner, and a Gulfstream G650ER, according to documents filed in U.S. District Court in Manhattan. Prosecutors said both planes were flown in March to Russia, in violation of U.S. export restrictions imposed on the heels...
UPDATE : Why Cooking Gas Price Fails To Drop
Business

UPDATE : Why Cooking Gas Price Fails To Drop

Simon Echewofun Sunday The price of cooking gas has failed to drop because of Nigeria’s heavy dependence on import, occasioned by the dwindling purchasing power of the naira, Daily Trust on Sunday reports. In the last six months, Nigeria imported Liquefied Petroleum Gas (LPG) or cooking gas worth over N171 billion as consumers in the country continue to groan over rising prices. A 12kg worth of cooking gas is sold at nearly N10,000 in many parts of Nigeria, an equivalent of one third of the minimum wage being paid to civil servants in the country.   Although the federal government had come up with what it called  a ‘Decade of Gas’ policy, with a view to utilising its vast resources, conserve energy and  reduce heavy dependence on other countri...
Nigeria spends N5,900.83bn on importing goods in Q1 2022
Business

Nigeria spends N5,900.83bn on importing goods in Q1 2022

Nigeria has imported goods worth N5,900.83billion in the first quarter of this year 2022, while its total exports were N7,100.46billion in the same period under review, pegging total trade for the country at N13,001.28billion. The statistics were disclosed by the National Bureau of Statistics (NBS) on Thursday with the title: ‘Foreign Trade in Goods Statistics (Q1 2022).’ According to NBS, Nigeria’s total trade for January – March 2022 was higher than the value recorded in the last quarter of 2021 which stood at N11,707.20billion. The Nigerian government data agency asserted that the exports increased by 23.13 per cent in comparison to the October – December 2021. The statement read, “In the first quarter of 2022, Total trade stood at N13,001.28billion, this wa...
British man arrested in Dubai over £1.3b tax fraud case
Business

British man arrested in Dubai over £1.3b tax fraud case

Police in Dubai have arrested British national, Sanjay Shah over a £1.3billion ($1.7bn) tax fraud case. The officers working with Interpol say they plan to extradite the suspect, identified as Sanjay Shah, 52, who is wanted in Denmark over fraud allegations. Sanjay Shah founded Solo Capital, a hedge fund firm which closed in 2016, and Autism Rocks, a charitable organization that raises awareness for autism.  Shah was detained after Denmark signed an agreement in March to allow for extradition of alleged criminals to and from the United Arab Emirates. He is accused of fraud relating to foreign businesses pretending to own shares in Danish companies – then claim tax refunds for which they were not eligible, according to a statement from Dubai police Brigadier Genera...
Gunman opens fire in Iowa church parking lot killing two young women and himself
Business

Gunman opens fire in Iowa church parking lot killing two young women and himself

Bank customers to provide indemnity for online transfers above N1m – CBN Bank customers will henceforth be required to produce indemnity for highly secured online funds transfers. The new directive was issued in a circular with the reference number: PSM/DIR/PUB/CIR/01/006,  issued by the Central Bank of Nigeria and signed by  Director, Payments System Management Department, Musa Jimoh.  The circular titled ‘Circular on the review of operations of the NIBSS Instant Payments System and other electronic payment options with similar features’ which was released on Thursday June 2, read;  “Further to the circular on the above reference BSP/DIR/GEN/CIR/01/011 and dated August 13, 2014, banks are hereby required to comply wit...
FIRS to ask FG to reject loan requests of states owing taxes
Business, Government

FIRS to ask FG to reject loan requests of states owing taxes

The Federal Inland Revenue Service (FIRS) has threatened to initiate a new process of enforcing and recovering unremitted tax deductions owed by some states and local governments. In a public notice signed by Muhammad Nami, executive chairman of the FIRS, the agency said it would advise the federal government and the ministry of finance to reject requests for external and domestic loans by defaulting states. The agency also threatened to name and shame defaulting states and local governments. Read the statement below...... Kindly leave your comment, like and share this story: FOR MORE INFOR, NEWS UPDATE AND LIVE STERAM JOIN US BELOW AND PLEASE HELP TO REACH 1K SUBSCRIBERS ON OUR YOUTUBE CHANNEL THANKS AND GO...
“Return to the office or resign” Elon Musk orders all Tesla employees as he says remote workers “pretend to work”
Business

“Return to the office or resign” Elon Musk orders all Tesla employees as he says remote workers “pretend to work”

Elon Musk has requested that all Tesla employees stop remote work and come back to the office or else they will be fired. When the Covid-19 pandemic hit, Tesla allowed remote work for every role where it was possible. But this doesn't seem to be working for the company. CEO Elon Musk sent a series of emails yesterday, May 31, that basically requests employees come back to the office or be terminated. The mail reads: "Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla. This is less than we ask of factory workers." The CEO added that there might be some exceptions, but he will review and approve those himself, which is a good way to incentivize people not to ask for exceptions. In a follow...
JUST IN : Chelsea confirm Todd Boehly takeover to signal end of Roman Abramovich reign
Business, Sports

JUST IN : Chelsea confirm Todd Boehly takeover to signal end of Roman Abramovich reign

Chelsea have confirmed the 'final and definitive agreement' has been reached for merican billionaire Todd Boehly to take over the club with the £4.25billion deal all set to be completed on Monday, May 30. The announcement from Chelsea marks the official end to Roman Abramovich's era and will see the Russian replaced as owner by Boehly and the Clearlake Capital group. Roman Abramovich 'Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the Club to the Todd Boehly/Clearlake Capital consortium,' Chelsea said in a statement. 'It is expected that the transaction will be completed on Monday. The Club will update further at that time.' Abramovich declared his pride at his successful tenure - signing off with a statement ...
Court rules that NBC can’t regulate advertising in Nigeria
Business

Court rules that NBC can’t regulate advertising in Nigeria

A Federal High Court sitting in Lagos has ruled that the Nigerian Broadcasting Commission (NBC) acted beyond its powers in seeking to regulate the practice of advertising in Nigeria.  The court which ruled on the case filed by a Lagos based journalist, Mr Femi Davies, said NBC's action contravenes provisions of the extant Advertising Practitioners (Regulation) Act of 2004. Justice Ambrose Lewis-Allagoa who held that the NBC lacks the power to prohibit exclusivity on privately acquired intellectual property right in programme contents of a right holder viz a viz the salient provisions of the constitution and the copyright act, also set aside the proposed amendment to the 6th Edition of the NBC Code for being ultra vires, incompetent null and void, and perpetua...
Twitter investors sue Elon Musk and Twitter over handling of $44b takeover bid
Business

Twitter investors sue Elon Musk and Twitter over handling of $44b takeover bid

Twitter investors are suing Elon Musk and the social media platform over the handling of Musk's $44bn take over bid for the company. The lawsuit alleges Musk violated California corporate laws in different ways. The lawsuit accuses Musk of "wrongful conduct" as his "false statements and market manipulation have created 'chaos' at Twitter's headquarters in San Francisco". The lawsuit also said Musk benefitted financially by delaying the disclosure of his significant stake in Twitter, and his plan to become a board member of the company. The suit also alleges that several tweets posted by Musk, who is a regular Twitter user with more than 95m followers, were "misleading". This included a post in which Musk said his takeover bid for the social media firm was on hold becaus...
Nigeria’s low oil production is not enough to cover petrol import costs – Minister of Finance, Zainab Ahmed
Business

Nigeria’s low oil production is not enough to cover petrol import costs – Minister of Finance, Zainab Ahmed

Minister of Finance, Zainab Ahmed has said that the country's low oil production is not enough to cover the petrol import costs.  The Minister said this in an interview with Reuters on the sideline of the World Economic Forum (WEF) in Davos on Thursday May 26.  Ahmed further revealed that the federal government is hoping that oil production will average 1.6 million barrels per day (bpd) this year. She said;  “We are not seeing the revenues that we had planned for.“When the production is low it means we’re … barely able to cover the volumes that are required for the (petrol) that we need to import.” Kindly leave your comment, like and share this story: FOR MORE INFOR, NEWS UPDATE AND LIVE STERAM JOIN US BELOW AND PLEASE HELP TO REACH...
Jack Dorsey to “leave Twitter’s board of directors” 16 years after co-founding the firm
Business

Jack Dorsey to “leave Twitter’s board of directors” 16 years after co-founding the firm

Jack Dorsey will reportedly leave Twitter's board of directors today May 25 - 16 years after co-founding the firm. He is expected to stand down ahead of the $44billion takeover by Tesla magnate, Elon Musk. According to the business news website The Street, Dorsey was set to leave Twitter on Wednesday May 25. Dorsey stepped down as CEO of the company in the fall, handing the reins to Parag Agrawal. He founded Twitter with Noah Glass, Biz Stone, and Evan Williams in 2006. News of Jack Dorsey leaving the Twitter board comes after a former company veteran and ex-director accused him of stabbing his company’s board in the back by serving up the social media platform on a platter to Elon Musk. Jason Goldman, the former vice president of Product and member of Twitter's foundin...
No plane crash in Lagos – FAAN
Business

No plane crash in Lagos – FAAN

The Federal Airports Authority of Nigeria (FAAN) has debunked claim of an airplane crashing in Ikeja area of Lagos state. In a statement released on Tuesday night May 24, the agency said the aircraft which allegedly caused traffic in the area while being transported to a different location, didn't crash. FAAN added that the aircraft was sold by the owner to a buyer, who was taking it to its final destination. Kindly leave your comment, like and share this story: FOR MORE INFOR, NEWS UPDATE AND LIVE STERAM JOIN US BELOW AND PLEASE HELP TO REACH 1K SUBSCRIBERS ON OUR YOUTUBE CHANNEL THANKS AND GOD BLESS https://youtu.be/EmD6FSuOK_c
CBN raises interest rate to 13%
Business

CBN raises interest rate to 13%

The Central Bank of Nigeria has increased the country's interest rate for the first time in two years.  The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted unanimously to raise the Monetary Policy Rate (MPR) to 13%. CBN Governor, Godwin Emefiele made the announcement at the end committee’s meeting at the apex bank’s headquarters in Abuja. Emefiele justified the increment by saying the MPC suspects “there might be an aggressive accretion of inflation”.  He added that in order to prevent the looming inflation, the MPC had to increase the monetary policy rate by 150 basis points. Kindly leave your comment, like and share this story: FOR MORE INFOR, NEWS UPDATE AND LIVE STERAM JOIN US BELOW AND PLEASE HELP TO RE...
Kaduna Airport resume commercial flights two months after bandits’ attack
Business

Kaduna Airport resume commercial flights two months after bandits’ attack

Commercial flights resumed on Monday May 23, at the Kaduna International Airport two months after the facility was attacked by bandits. Recall that bandits attacked the facility on March 26, killing a private security guard attached to the Nigerian Airspace management Agency near the outer perimeter fence. Though they were repelled by security forces attached to the airport, commercial airlines plying the route suspended their flights, seeking improved security. Channels TV reported that efforts have been made to allay fears of airline operators as the first commercial flight since the incident landed at the airport at exactly 8am on Monday morning. The Kaduna airport manager, Amina Salami, said she was “very happy” about the reopening. She added that m...
Customers lament as barbing saloon becomes flooded with dirty water following rainfall in Imo State
Business

Customers lament as barbing saloon becomes flooded with dirty water following rainfall in Imo State

Customers at a barbing saloon were forced to lift their legs in the air as flood water entered the saloon following heavy rainfall in Imo State. The saloon was packed with customers when the brown water from outside began pouring into the saloon. One customer is heard lamenting. "Look at what we're seeing in Imo State," the customer said. "Oh my goodness. I've never seen anything like this in all my life. It is unprofessional. It is very unprofessional." He added that he was getting a haircut in the saloon when the place became flooded. Watch the video below. https://www.instagram.com/tv/Cd8AQgBN_Rl/?utm_source=ig_web_copy_link Kindly leave your comment, like and share this story: FOR MORE INFOR, NEWS UPDATE AND LIVE STERAM JOIN US BELOW AND P...
Actor Aremu Afolayan tackles VP Osinbajo after he changed 6,500 Dihram in Dubai to N1 million
Business

Actor Aremu Afolayan tackles VP Osinbajo after he changed 6,500 Dihram in Dubai to N1 million

Actor Aremu Afolayan has tackled Vice President Yemi Osinbajo over the dwindling economy. Aremu who is currently in Dubai was surprised when he changed 6.500 Dihram to N1 million. In a post shared on his Instagram page, he said he wishes all Nigerian citizens can move out of the country. Calling out VP Osinbajo, he wrote; ''I wish everyone can move out of Nigeria,let’s see who you evil serpent will govern overOloriburuku gbogbo@profosinbajo I thought you are of God. I thought you no GodI thought you fight for humanityI thought you are person of GodYou are faceless to me.I thought your time will bring peace and Furtune to my people.Pls stop going to church,it’s not watt it'' Watch the video he shared below... https://www.instagram.com/tv/Cd7txSwLxE9/...
Drake loses more than $230K (N95m) on Formula 1 Spanish Grand Prix bet
Business, Celebrity Gist

Drake loses more than $230K (N95m) on Formula 1 Spanish Grand Prix bet

Canadian rapper, Drake has lost more than $230,000 after placing a bet that Formula 1 driver Charles Leclerc would win the Spanish Grand Prix. The Ferrari ace, who was leading the world championship when Drake placed the bet, lost the lead Sunday afternoon after suffering an engine failure. The rapper had shared a screenshot of his digital betting slip onto an Instagram story with the caption, “First F1 bet… let’s see how this goes @stake”, revealing he placed $300k Canadian dollars bet with cryptocurrency betting platform, Stake. Despite starting from first place on the grid and maintaining a convincing lead for the first 27 laps of the Grand Prix, which was held at Circuit de Barcelona-Catalunya in Spain, power unit issues saw Charles fail to finish ...
Mercedes-Benz 300 SLR Coupe becomes world’s most expensive car
Business, Technology

Mercedes-Benz 300 SLR Coupe becomes world’s most expensive car

Mercedes-Benz 300 SLR Coupe, dubbed “the Mona Lisa of cars” has become the most expensive automobile ever sold in an invitation-only auction. The car, which was never produced for commercial use, sold for €135 million (£115 million), beating the previous record of £63 million paid for a 1962 Ferrari 250 GTO in 2018. According to the Telegraph, Simon Kidston, a British expert and dealer based in Switzerland, spent 18 months lobbying Mercedes on behalf of a client to hold the sale. It was Mr Kidston, on behalf of a client, who made the winning bid. Its new owner has chosen to remain anonymous. A peep into the Mona Lisa of cars The Mercedes Benz Mona Lisa “If you had asked classic-car experts and top collectors over the past half a century to name the most desirable car...
UPDATE : Nigerian Railway Corporation cancels resumption of Abuja-Kaduna train service
Business

UPDATE : Nigerian Railway Corporation cancels resumption of Abuja-Kaduna train service

The Nigerian Railway Corporation (NRC) has suspended the resumption of train services on the Abuja-Kaduna route. This comes amidst threats by members of the over 50 Nigerians kidnapped by terrorists during the March 38 train attack who vowed to occupy the train tracks if the Federal government resumes the train services without first securing the release of their loved ones. The corporation had immediately suspended train services on the route. However, last week, it announced that it will resume services on May 23rd, a situation that did not augur well with the victims’ families who threatened to disrupt operations. In a statement issued by NRC’s spokesman, Yakub Mahmood, on Friday, May 20, the agency said a new date would be announced soonest. “Sequel to our ea...
Russia stops gas supplies to Finland days after halting electricity supply
Business

Russia stops gas supplies to Finland days after halting electricity supply

Russia has halted its supply of natural gas to Finland, the Finnish state-owned energy firm Gasum has said. After the EU and US sanctioned Russia over the war, Russia said "unfriendly" countries must pay for gas using the Russian currency, a move the EU considers blackmail. Finland imports most of its gas from Russia but gas accounts for less than a tenth of the country's energy consumption and Finland said it will not pay for its supplies in roubles.  Also, Finland and Sweden early this week applied to join western Transatlantic military alliance, NATO. On Sunday May 15, Russia cut electricity supplies to Finland after threatening retaliation should Finland apply to join Nato. On Friday May 20, it was confirmed by Finland that its gas supplies have also been stopped....
Lagos airport shut temporarily after mangled corpse was found on runway
Business

Lagos airport shut temporarily after mangled corpse was found on runway

The mangled body of a dead man found on Runway 18R of Murtala Muhammed International Airport, Lagos, led to international wing of the nation’s flagship airport being shut temporarily on Thursday May 19.  Identity of the corpse could not be ascertained and it could not be established whether the dead man was knocked down by an aircraft taking off or landing on the runway. The airport officials told Punch that the runway was temporarily shut down while a team of officials from the Federal Airports Authority of Nigeria and the Nigeria Police Force evacuated the corpse from the runway. International flights were prevented from landing and taking off from the airport’s international terminal after temporary shutdown of the runway.   This inclu...
Polaris Bank in a mess: Businesswomen slam N10m suit over alleged illegal deduction
Business

Polaris Bank in a mess: Businesswomen slam N10m suit over alleged illegal deduction

Three businesswomen and customers of Polaris Bank have dragged the bank before a Surulere Magistrate Court in Lagos over alleged freezing of their domiciliary and Naira accounts with the bank and subsequent illegal deductions on the said accounts amounting to about $30,769 (USD). The applicants – Mrs. Adebomi Orogun, Mrs. Kehinde Banjo, and Mrs. Oluwatoyin Ode, in an originating application brought pursuant to Order 1 Rule 2 of the Magistrates’ Courts Civil Procedure Rules of Lagos State (2009), accused the bank of freezing their USD (US Dollar), Euro and Naira accounts with the bank without a valid court order. They said the bank proceeded to make unauthorized deductions from their accounts without any justification whatsoever as there was no time they were accused of engaging ...
Netflix lays off 150 employees due to slow revenue growth and business needs
Business

Netflix lays off 150 employees due to slow revenue growth and business needs

Netflix is reportedly laying off nearly 150 employees in the coming days due to disappointing earnings and slow revenue growth. According to a Variety report, the Amazon Prime Video rival might also terminate its contract with contractual contributors. The layoffs are about 2 per cent of Netflix’s US workforce. “As we explained [in reporting Q1] earnings, our slowing revenue growth means we are also having to slow our cost growth as a company. So sadly, we are letting around 150 employees go today, mostly U.S.-based,” a Netflix spokesperson said. The statement further revealed that the decision was primarily driven by business needs rather than individual performance. Netflix reported $7.87 billion in Q1, which was short of Wall Street’s estimates of $7.93 billion. Th...
Aviation fuel scarcity is a global problem – Sirika
Business

Aviation fuel scarcity is a global problem – Sirika

Minister of Aviation, Senator Hadi Sirika, has said the current aviation fuel scarcity in the country with its attendant high cost is a global problem. Sirika made the claim after Airline Operators of Nigeria (AON) told Nigerians to be prepared for flight disruption due to scarcity of aviation fuel, adding that scarcity and high cost of Jet A1 in civil aviation is driven by many factors which include low capacity to refine the product, high demand around the world, increased activity, increased number of airplanes and users of jet A1. The Minister who briefed reporters after accompanying a delegation led by the Secretary General of International Civil Aviation Organization (ICAO), Mr Juan Carlos Salazar, to the State House, Abuja on Tuesday May 17, furth...
UPDATE : Tesla CEO, Elon Musk threatens to pull the plug on Twitter deal
Business

UPDATE : Tesla CEO, Elon Musk threatens to pull the plug on Twitter deal

Elon Musk has threatened to pull the plug on the Twitter deal until the social media company shows proof of its spam account figures. The Tesla CEO, who last month offered $44billion for the tech platform, disputes their claims that bots represent around five percent of their users, believing the figures could be 'much higher' than 20 percent.  The world's richest man fired off a tweet this morning stating: '20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. 'My offer was based on Twitter’s SEC filings being accurate. 'Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does.'  This comes days after Musk claimed he wanted to pause the deal to verify ...
NBA star Rajon Rondo accused of threatening to kill his ex-wife and children with gun
Business, Crime

NBA star Rajon Rondo accused of threatening to kill his ex-wife and children with gun

Cleveland Cavaliers star, Rajon Rondo has reportedly been accused of threatening to kill his ex-wife with a gun. Ashley Bachelor, Rondo's former partner and mother of his two kids, filed for an emergency protective order in Louisville last week, requesting protection for her, her son, and daughter,  reports TMZ Sports. Sharing disturbing details of the alleged incident, Bachelor said Rajon -- a 2x NBA champ and 4x All-Star -- was playing video games with his son on May 11 when Ashley asked the boy to separate laundry. Bachelor alleged that Rajon became enraged and ripped the game console out of the wall in front of the kid. Ashley said Rajon then continued the destructive behavior, smashing everything from a teacup to outdoor lights and trash...
Dollar hits N600 at parallel market
Business

Dollar hits N600 at parallel market

The dollar exchanged at N600 at the parallel market on Monday  May 16, In Uyo, currency dealers exchanged the Naira at N595.00 and sold within the range of N596.00 and N600.00 to a dollar, while Abuja black market dealers at wuse zone 4 said the currency was exchanged at N594.00 and sold at N595.00 per $1 on Monday. According to FMDQ, where forex is officially traded, the Naira which opened trading at N417.30 closed at N421.50 to a dollar at the close of business on Monday, May 16. The depreciation of the local currency has heightened fears of a further devaluation of the nation’s currency. Kindly leave your comment, like and share this story: FOR MORE INFOR, NEWS UPDATE AND LIVE STERAM JOIN US BELOW AND PLEASE HELP TO REACH 1K SUBSCRIBERS ON OUR YOUTUBE CHANNEL TH...
BREAKING : Nigeria’s inflation rate rises to 16.82%
Business

BREAKING : Nigeria’s inflation rate rises to 16.82%

Nigeria’s inflation rose to 16.82% in April 2022, according to recently released Consumer Price Index report released by the National Bureau of Statistics (NBS) on Monday May 16.  Annual food inflation rose to 18.4 percent from 17.2 percent in March, sending the headline rate to 16.8 percent, the highest in eight months.  The consumer price index, which measures the rate of inflation rose by 16.82% year-on-year in April 2022, which is 0.9% points higher than the 15.92% recorded in the previous month (March 2022). On a month-on-month basis, the headline index increased by 1.76% in April 2022, compared to 1.74% increase recorded in the previous month. Similarly, the urban inflation rate increased to 17.35% (year-on-year) in April 2022 from 18.68% recorded in Apri...
Airline operators announce flight disruption over scarcity of aviation fuel
Business

Airline operators announce flight disruption over scarcity of aviation fuel

The Airlines Operators of Nigeria (AON) have told Nigerians to be prepared for flight disruption due to a growing scarcity of aviation fuel (Jet-A1). Obiora Okonkwo, Chairman of United Nigeria airline and spokesperson of AON, said this in a public notice issued on Monday May 16.  The AON said the aviation fuel scarcity is negatively impacting on the seamless conduct of air transport operations and “would lead to flight rescheduling, and, or, cancellations”. The statement read;  “The Airline Operators of Nigeria wish to alert the public of impending disruptions to scheduled flight operations of members of the association. This development is being forced on members by the growing scarcity of aviation fuel popular as Jet-Al.“The scarcity is impacting nega...
JUST IN : Azman Air Passengers reportedly  Stranded For 24 Hours In Kano
Business

JUST IN : Azman Air Passengers reportedly Stranded For 24 Hours In Kano

Passengers of the Azman Airlines have been stranded at Malam Aminu Kano International Airport (MAKIA) for over 24 hours. Some of the passengers had to spend the night at the departure wing of the airport as they did not learn about the rescheduled flight until late in the evening. Many of the passengers, travelling to Abuja and Lagos, lamented that they were supposed to fly 4:00pm on Saturday but got the rescheduled notice around 8:00pm. “I was here yesterday and expected to fly around 4 but these people were not even around to tell us anything. Only to get notification around 8pm that the flight had been rescheduled to today (Sunday). Some of us spent the night here. This is totally disappointing,” Jamilu Rabiu, one of the passengers said. Daily Trust gathered from some s...
“Captain Jamil is no longer a pilot at Azman Air” Airline distances self from son of former IGP after he said “the punishment for blasphemy is death”
Business

“Captain Jamil is no longer a pilot at Azman Air” Airline distances self from son of former IGP after he said “the punishment for blasphemy is death”

Azman Airline has distanced itself from Captain Jamil Abubakar and a tweet he shared following the killing of a Christian student by her Muslim counterparts for alleged blasphemy. Deborah Samuel was beaten and stoned to death before she was set ablaze on Thursday, May 12. Her crime was a statement she made on her class WhatsApp group which her Muslim colleagues considered to be blasphemous to the Prophet. Tweeting following Deborah's death, Captain Jamil, an experienced pilot, son of the former Inspector General of Police Mohammed Abubakar, and son-in-law of Africa’s richest man Alhaji Aliko Dangote, tweeted: "In Islam we respect the Injil, Taura, Zabur, we were never taught to disrespect any of the book, or any of the prophets From Adam to Muhammad SAW & the Quran. ...
First Bank urges court to wind up Niger Insurance Plc
Business

First Bank urges court to wind up Niger Insurance Plc

First Bank of Nigeria has urged a Federal High Court in Lagos to wind up Niger Insurance Plc, based on its inability to pay a debt of N137.2 million. In a petition filed by a Lagos lawyer Onyeka Ofoegbu, First Bank alleges that a Vessel LB Tamuno was insured and registered with a consortium of insurance companies including Niger Insurance sometime in 2016. Sometime in August 2018, the Vessel sank in deep waters. All efforts made to salvage it failed. The bank demanded N2.496 billion as the total loss resulting from the sinking of the Vessel LB Tamino from the consortium of Insurers. The claim was reduced to N1.263 billion by the consortium of insurers. The Petitioner disagreed with the adjusted claim. Following a review by loss adjusters appointed by the consortium o...