Economy

The Department of State Services (DSS) has invited Dr Obadiah Mailafiya, a former Deputy  Governor of the Central Bank of Nigeria (CBN) for questioning again. Yakubu Bawa, Mailafiya’s lawyer confirmed this to the News Agency of Nigeria (NAN) on Monday in Jos. According to him, Mailafiya is expected to be …

National Bureau of Statistics, NBS, Friday said that Nigeria’s unemployment rate rose to 27.1% in the second quarter of 2020. “The unemployment rate during the reference period, Q2, 2020 was 27.1%, up from the 23.1% recorded in Q3, 2018. The underemployment rate increased from 20.1% in Q3, 2018 to 28.6%.” …

SUSPENDED acting chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, has told the  Ayo Salami-led Judicial Commission of Inquiry that his rights to a fair hearing are being violated. This is contained in a  letter written by Magu’s lawyer, Mr Wahab Shittu, dated August 11, and …

Customers are set to pay more for ride-hailing services such as Uber and Bolt due to a new regulation being introduced by the Lagos State Government. This comes barely weeks after the Babajide Sanwo-Olu administration increased LAGBUS fares by 46 per cent The new regulation for e-hailing taxing services is …

The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, on Tuesday, announced that the registration of Batch C of its N-Power programme has closed. It said the registration closed on August 9, 2020, adding that a total of 5,042,001 Nigerian youths applied as at the end of the …

The Rivers State House of Assembly on Monday approved Governor Nyesom Wike’s N18bn loan request meant for developmental projects in the state. The approval was granted after the Speaker of the house, Ikunyi Ibani, read the governor’s request during plenary. Wike, in the letter, said the loan would be serviced …

NIGERIA spends between $1.3 billion to $1.5 billion annually on importation of milk and other dairy products, it was learnt on Sunday. To address the trend, which has caused continued capital flight, the Kano State Agro Pastoral Development Project is investing heavily in local milk production and processing to fast-track …

OIL climbed to a five-month high in London, topping $45 a barrel after United States (U.S.) industry data showed a decline in the nation’s stockpiles. Brent for October settlement rose to $45.45 a barrel while West Texas Intermediate (WTI) for September delivery rose $1.02 to $42.72 a barrel Brent futures …

President of African Development Bank(AfDB) Dr Akinwumi Adesina has been completely absolved of ethical wrongdoings. A report of an Independent Review Panel led by a former Irish President, Mary Robinson, said Adesina is not guilty of any infraction alleged by petitioners.  The Independent Review Panel was set up by the …

In line with current realities of the COVID-19 pandemic, the Corporate Affairs Commission has barred customers from physically visiting its office premises in Abuja and Lagos to carry out official transactions. According to a public notice released through its verified Twitter accounts on Thursday, the CAC said customers would be …