The 4th CHINET Conference, scheduled for August 22, 2024, in Lagos, will bring together leading figures from the insurance, cargo, and aviation industries. Among the confirmed participants are Mr. Olusegun Omosehin, Commissioner of the National Insurance Commission (NAICOM), Chief Babajide Olatunde-Agbeja, and Mr. Eddie Efekoha, along with other prominent industry experts. This one-day conference will […]
Category archives: News
Fuel Prices Near ₦1,000 per Litre as Scarcity Worsens Across Nigerian States
Nigerians are facing growing concerns as the price of petrol approaches ₦1,000 per litre in several states, including the Federal Capital Territory (FCT) Abuja. The erratic supply of Premium Motor Spirit (PMS) has led to widespread fuel shortages, with many filling stations across the country unable to provide the product. In Abuja, some independent petrol […]
NEMA Reports Severe Flooding Across 27 States: Over 32,000 Homes Damaged, Nearly 230,000 Displaced
The National Emergency Management Agency (NEMA) has reported that recent flooding has affected 27 states in Nigeria, displacing 227,494 individuals and damaging 32,837 homes. Additionally, 16,488 hectares of farmland have been impacted. NEMA’s Director-General, Zubaida Umar, announced that the agency is intensifying public awareness on waste management and drainage maintenance to mitigate future flooding. She […]
Chinese Firm Targets Nigerian Assets Globally Amid Ogun FTZ Dispute
Zhongshan Fucheng Industrial Investment Co. Limited, the Chinese company involved in a legal battle with Nigeria, has initiated actions to seize Nigerian assets in eight countries, including the UK, USA, Belgium, Canada, France, Singapore, and the British Virgin Islands. This follows a court injunction that allowed the firm to ground three Nigerian presidential jets in […]
ICYMI: 11 Federal Government Initiatives Nigerians Can Access and How to Register
The Minister of Information and National Orientation, Mohammed Idris, has announced that Nigerians can now access eleven key initiatives established by the Federal Government. These initiatives cover various sectors, including education, transportation, business, housing, and skills acquisition. In a post on X, Idris highlighted these opportunities, urging Nigerians to take advantage of them. The Special […]
Prices of Garri, Fresh Fish, and Other Food Items Drop as Nigeria’s Inflation Rate Declines
Nigeria’s food inflation rate decreased to 39.53% in July 2024, down from 40.87% in June, according to the latest Consumer Price Index and Inflation report by the National Bureau of Statistics (NBS). This reduction is attributed to lower prices of key food items such as garri, akpu (fufu), milk, and fresh fish. On a month-on-month […]
Dollar to Naira Exchange Rate: Black Market Rates for August 16, 2024
The black market exchange rate for the Dollar to Naira (USD to NGN) as of August 16, 2024, stands at N1596 for buying and N1600 for selling, according to sources at the Bureau De Change (BDC) in Lagos. It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel […]
Shippers’ Council Initiative Saved Nigeria N6 Billion – Akuta
The Nigerian Shippers’ Council has disclosed how it’s dispute resolution initiative saved the country over N6 billion in the past years. Speaking in Abuja, during a courtesy Visit to the National Coordinator of the African Free Continental Trade Agreement (AfFCTA), the Executive Secretary NSC, Pius Akuta stated that the Council has established a complaint handling […]
Ogun State Government Criticizes Seizure of Presidential Jets, Accuses Chinese Firm of Deception
The Ogun State government has condemned the judicial actions leading to the provisional seizure of three Nigerian presidential jets by the Judicial Court of Paris. The court ordered the seizures in March and August 2024, as part of an ongoing legal dispute with Chinese company Zhongshan Fucheng Industrial Investment Co. Ltd. The jets, including a […]
GTBank Responds to Attempted Website Breach, Ensures Customer Data Safety
Guaranty Trust Bank Plc (GTBank) has confirmed an attempted breach of its website, which occurred shortly after the renewal of its domain name. The incident temporarily disrupted online services, causing concern among customers about potential data security risks. In a statement released on Thursday, GTBank clarified that while there was an attempt to compromise the […]