The World Bank has warned that the newly redesigned naira which went into circulation last week may have adverse effects on the Nigerian economy and on poor Nigerians due to its short transition period. The Washington-based bank revealed this in a new report titled, “Nigeria Development Update.” This came amid the mixed reactions that had...
Category: <span>Business</span>
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UK targets 2024 for King Charles banknotes circulation
The first banknotes bearing the image of King Charles III are set to enter circulation by mid-2024, the Bank of England said on Tuesday as it unveiled their designs. “The portrait of The King will appear on existing designs of all four polymer banknotes (£5, £10, £20 and £50), with no other changes to the...
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touring 40 cities globally sharpen my business skills — Vincent Okonkwo
A Nigerian serial business development expert, Engr Vincent S. Okonkwo, has said that with determination, forthrightness and willingness to relearn, every business practitioner will make profits in their investments. Okonkwo, found to be a hardworking and highly ambitious individual who says he never believes that anything is impossible, said, it was his “can-do spirit” that...
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Twitter to ban users from promoting rival social platforms
Twitter announced Sunday it would no longer allow users to promote their accounts on a host of social media platforms including Facebook and Instagram — the latest policy change by the company under its controversial new owner Elon Musk. The move — which also affects Mastodon, Post and Truth Social as well as third-party social...
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Worker arraigned for stealing 426 cartons of spaghetti
A 35-year-old worker, Chris Iruonagbe, has been accused of stealing 426 cartons of spaghetti belonging to the company he worked for. Iruonagbe was arraigned before Chief Magistrate L.O. Owolabi sitting at the Ogba Magistrates’ Court, Ogba, Lagos State, on two counts of conspiracy and stealing. The defendant was alleged to have conspired with other fleeing...
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Cooking gas retailers task FG on policy to curb substandard cylinders
The Liquefied Petroleum Gas Retailers (LPGAR) has urged the Federal Government to come up with a policy on standard gas cylinders as part of its LPG development plan. The association, which is a branch of the National Union of Petroleum and Natural Gas (NUPENG), said the such a policy would ensure only standard cylinders were...
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Cosmetic surgery goes wrong, Abuja judge, therapist clash
A skin-care therapist, Pamela Onyeagusi, and an Abuja National Industrial Court judge, Justice Zainab Bashir, have traded blame following unsuccessful cosmetic procedures which left burns on the latter’s skin. The therapist accused the judge of harassing and making life unbearable for her after she (Bashir) complained that the cosmetic treatments were not successful. However, Justice...
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Amid Slow Circulation, Banks Begin Pay Out Of New Naira Notes
Commercial banks in major cities in Nigeria have started paying out the newly redesigned naira notes to over-the-counter customers. However, Ugama Tv checks showed that circulation of the new notes have been slow on the first day of many branches of commercial banks in Lagos state, Abuja among others, were yet to receive the new...
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NAFDAC seizes unregistered food products in Kano, arrests 2
The National Agency for Food and Drugs Administration and Control (NAFDAC), has raided 10 warehouses in Sabon Gari market in Kano State, where they seized unregistered food products and arrested two people. The Deputy Director, Investigation and Enforcement Directorate of NAFDAC, Kaduna office, Mr. Tamanuwa Andrew, disclosed this to the News Agency of Nigeria (NAN)...
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NNPC slashes price for marketers to ease scarcity
The Nigerian National Petroleum Company Limited, NNPCL, yesterday, adopted new measures aimed at guaranteeing adequate fuel supply across the country, by fixing N148 per litre as the price for lifting petrol at depots. It also agreed to supply outstanding stock to independent oil marketers, to end product shortage. This came as the independent marketers said...