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PETROL SUBSIDY NOW N47.5/LITRE AS OIL PRICE HITS $67.86

The subsidy on Premium Motor Spirit, popularly known as petrol, has risen to N47.5 per litre as the expected open market price of the commodity hit N180.78 on Monday, latest data from the [...]

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FG REVERSES DECISION TO SELL OIL ASSET STAKE

For the second year in a row, the Federal Government has failed to carry out its planned sale of some of its stake in joint venture oil assets. The Federal Government did not include the sale of [...]

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BANKS RECORD N97.32TN INSTANT, POS PAYMENTS IN 11 MONTHS

Banks’ customers carried out a total of N97.32tn worth of financial transactions on the Instant Payment and Point of Sale platform between January and November this year, the latest report from [...]

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REDUCTION OF ELECTRONIC FEES’LL BOOST ECONOMY, SAYS MINISTER

Minister of Communications and Digital Economy, Dr Isa Pantami, has hailed the reduction of the cost of electronic cash transactions as well as Automated Teller Machine card maintenance fees by [...]

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CRUDE OIL, GAS EXPORTS INCREASE BY 53% –NNPC

The Nigerian National Petroleum Corporation on Sunday announced that crude oil and gas export sales increased by 52.84 per cent to $355.93m in September 2019. NNPC’s crude oil and gas exports in [...]

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SELL-OFFS IN BANKING STOCKS DRIVE MARKET N197BN LOWER

Banking stocks listed on the Nigerian Stock Exchange led the decrease in market capitalisation by N197bn in one day, following sell-offs witnessed on Monday. The market capitalisation of equities [...]

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FG REVENUE DIPPED BY N388BN IN NOVEMBER – CBN

Federally-collected revenue fell by N388bn in November, latest statistics from the Central Bank of Nigeria have revealed. Part of the CBN’s report on ‘Monthly economic report for the month of [...]

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UBER’S PLAN TO LAUNCH AN AIR TAXI SERVICE IN 2023 GETS BOOST FROM STARTUP

Uber’s ambitious plans to launch an urban air taxi service just got a lift from a secretive, well-financed startup. The ride-hailing company said it would join forces with Joby Aviation, a [...]

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US NAVY BANS TIKTOK OVER SECURITY WORRIES

The US Navy has banned Chinese app TikTok from government-issued mobile devices because of cybersecurity concerns. In a bulletin posted early this week to a Facebook page for military personnel, [...]

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FACIAL RECOGNITION FAILS ON RACE, GOVERNMENT STUDY SAYS

A US government study suggests facial recognition algorithms are far less accurate at identifying African-American and Asian faces compared to Caucasian faces. African-American females were even [...]