Panic as Queues Return to Petrol Stations After President’s Announcement

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion from the revenue generated by the nation in August 2023 for September to enable the three tiers of government; the federal government, states, and local government councils, to have funds to pay salaries and others. The allocation of the funds was confirmed by the Office of the Accountant General of the Federation on Friday following FAAC’s September 2023 meeting. According to a statement by the OAGF’s Director of Press and Public Relations, Mr Bawa Mokwa, there was “N1100.101 billion (N1.1 trillion) total distributable revenue.”

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Peer-2-Peer (P2P) wing of the foreign exchange market on Monday, October 2, as the official market, the Investors and Exporters (I&E) window closed for the Independence Day holiday. In the P2P segment, the Nigerian Naira appreciated against the American currency by N3 to sell at N998/$1 compared with the preceding session’s value of N1,001/$1. In the same vein, the local currency improved its value against the US Dollar on Tuesday by N1 to sell at N1001/$1 versus the previous session’s exchange rate of N1002/$1. During the Independence Day

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading. ChatGPT’s trading capabilities Without a doubt, ChatGPT has carved a niche for itself in the automated trading

By NJ Ayuk “The Minister of State for Petroleum Resources, Timipre Sylva, has declared 2020 as the year of gas for the nation”, the news piece started. What amazing news! And certainly, long overdue. As it seems, Nigerian officials have finally taken the cue. As I have said ever so often, more than an oil nation, Nigeria is a gas nation. It just doesn’t act like it. Undoubtedly, natural gas has the enormous potential to diversify and grow the Nigerian economy, power its industries and homes, produce ever-so-lacking wealth, create jobs, develop associated industries in the petrochemical sector, raise people

By Dipo Olowookere A new entrant into the last-mile delivery market in Nigeria, Kwik, has disclosed that it hopes to become the first platform for last-mile delivery in urban areas in Nigeria before extending its scope to neighbouring countries. The firm, owned by a French start-up Africa Delivery Technologies, said it intends to achieve this goal by executing 100,000 deliveries per day in three cities in the country before 2021. Business Post reports that on June 26, 2019, Kwik launched its app on both the Apple Appstore and Google Playstore. Kwik focuses particularly on B2B clients and allows them to

Introduction Those looking to move from casino table games to poker regularly cite the same reason for their desire to take it up — to take control of their chances at beating the house. Spend enough time in a casino and you’ll conclude that there are particular games with a slightly higher fighting chance at winning. Poker has always been a popular option amongst gamblers, hence it’s unsurprising that it has managed to retain its appeal to both seasoned and amateur casino players. However, with the influx of new casino players, there’s bound to be differences when making the transition

The African Continental Free Trade Area agreement (AfCFTA) came into force on May 30, 2019. In April 2019, Gambia ratified the agreement, bringing the total number of African Union (AU) member state ratifications to 22, the minimum threshold for AfCFTA’s implementation. In the last month, the required number of endorsements was received by the AU and the agreement is now in force. According to Virusha Subban, Partner specialising in Customs and Trade at Baker McKenzie in Johannesburg “AfCFTA aims to eliminate tariffs on intra-African trade, reduce unemployment, increase infrastructure development and create a more competitive, yet sustainable environment for cross-border

By Adedapo Adesanya The recent moves by the Lagos State Government are already making some Nigerians, especially those doing business, to raise eyebrows. There have been conspiracy theories in some quarters that there is a secret power play to suffocate innovation and leave citizens at the mercy of their government. It is not a hidden truth that technology has not only brought about ease of doing business but has also caused disruptions that have threatened old players, who either have to keep up or risk being kicked out of the scene. Also, technology has made some Nigerians think out of

By Modupe Gbadeyanka Fitch Ratings has revised the Outlook on 4 Nigerian banks to Negative from Stable and affirmed the Long-Term Issuer Default Ratings (IDRs) of 10 banks and financial institutions. The affected institutions are Zenith Bank Plc, First Bank of Nigeria Ltd, United Bank for Africa Plc (UBA), Guaranty Trust Bank Plc (GTBank), Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc, Union Bank Plc, First City Monument Bank Limited (FCMB), Wema Bank Plc and the bank holding company, FBN Holdings Plc (FBNH). The National Ratings of Stanbic IBTC Bank Plc, as well as its bank holding company, Stanbic

The Global Finance Magazine World’s Best Banks Awards 2020 has announced Nigeria’s leading financial institution, Zenith Bank Plc, as the Best Bank in Nigeria. The awards, which was published in the May 2020 edition of the Global Finance Magazine, was based on the performances of the banks in their respective regions and countries over the period from January 1 to December 31, 2019. Global Finance’s World’s Best Banks Awards are recognized amongst the world’s most influential banking/finance and corporate professionals as the most coveted and credible awards in the banking industry, with winners chosen in more than 150 countries across

By Kelvin Adegbenga “There are no journalistic ethics that transcend the value of human life. There are none. In a situation where you can save a human life, you must. There isn’t any conflict in my mind”. Sebastian Junger. My attention has been drawn to the press release by Amnesty International dated Wednesday 28 September 2016 tagged “Crackdown On Journalists And Assault On Protests Shrinking Civic Space” I would have ignored the press release because to me, I now see Amnesty International as an arm of the opposition to the Change Agenda in Nigeria. Amnesty International claimed that security forces