Africa ranks low in global business environment rankings

AfricaBusinessNewsAfrica ranks low in global business environment rankings

By Ezinwanne Onwuka (Senior Reporter)April 20, 2023

Singapore, Canada and Denmark will be the three countries with the best business environment over the next five years, according to the latest business environment rankings, BER, by the Economic Intelligence Unit, EIU. EIU’s BER measures the attractiveness of the business environment in 82 countries quarterly, using a standard analytical framework with 91 indicators. The latest ranking for the second quarter of 2023 shows that North America and Western Europe continue to be the best...

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PoS Operator In Police Net Over N280m Received In Error

BusinessNewsNigeriaPoS Operator In Police Net Over N280m Received In Error

Hassan Umar Shallpella (Regional Correspondent)April 20, 2023

Police in Ilorin, the Kwara State capital have confirmed the arrest of a Point of Sale operator Alfa Rafiu who erroneously received N280m transferred to his account by a commercial bank in Ilorin, the Kwara state capital has been arrested by the Police. It was gathered that the suspect who resides at the Akuji compound, the Abayawo area in the Ilorin West Local Government Area of the state was arrested on Monday when he went...

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Peak Milk changes controversial Easter ad after CAN’s rage, apologises for the ‘insensitivity’

BusinessNewsNigeriaPeak Milk changes controversial Easter ad after CAN’s rage, apologises for the ‘insensitivity’

By Ezinwanne Onwuka (Senior Reporter)April 12, 2023

The management of FrieslandCampina WAMCO Nigeria Plc, manufacturers of Peak Milk, has removed a controversial advert for the Easter season which depicts the crucifixion of Jesus Christ. The ad, a photograph of a dented tin of Peak Milk, punctured in two places, with a nail dripping milk, lying beside it, was publicised last Friday. It was captioned: Bruised and Pierced for us. #GoodFriday. Reacting to the ad, the Christian Association of Nigeria, CAN, described it...

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Nigeria to harness gas resources for energy transition, security – SPE

BusinessNewsNigeriaNigeria to harness gas resources for energy transition, security – SPE

By Uzoamaka Ikezue (Staff Reporter)April 10, 2023

The Society of Petroleum Engineers (SPE), Nigeria Council, has said that Nigeria needs to effectively harness the potential of gas resources to ensure not only energy transition but energy security. Mr Felix Obike, the chairman, SPE, Nigeria Council made that known while briefing journalists in Abuja. Obike enumerated the need to deepen programmes and projects on gas utilisation and policy implementation in realisation of the net zero carbon emission. He noted that the just concluded 2023...

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Over 100% Increment In Apron Pass Charges Affects Flight In Abuja Airport

BusinessNewsNigeriaOver 100% Increment In Apron Pass Charges Affects Flight In Abuja Airport

Hassan Umar Shallpella (Regional Correspondent)April 9, 2023

The face-off between the Federal Airports Authority of Nigeria, FAAN, and fuel marketers at the Abuja airport over a 100% increment in apron pass charges has put Airline operators in a dilemma. It was gathered that fuel marketers had refused to pay, and the agency equally denied fuel vendors from gaining access into the apron area, thereby halting landing and takeoff at the Abuja airport by all aircraft. It was further learned that the 100%...

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Matt Ruwe says Bose’s new product, the A30 aviation headset is designed for maximum comfort

BusinessNewsNigeriaMatt Ruwe says Bose’s new product, the A30 aviation headset is designed for maximum comfort

By Ezinwanne Onwuka (Senior Reporter)April 9, 2023

Bose, the Massachusetts-based company, is renowned for its home audio systems and speakers, noise-cancelling headphones, professional audio products and automobile sound systems. Bose’s products have been adjudged to be the best, and for good reasons: they are designed for comfort, improved clarity and noise cancellation. On March 28, the company unveiled the latest generation of Bose headset for pilots: the A30 aviation headset. Matt Ruwe, Senior Product Manager at Bose during a chat with Ezinwanne...

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Soyinka condemns CBN’s naira redesign policy

BusinessNewsNigeriaSoyinka condemns CBN’s naira redesign policy

By Ezinwanne Onwuka (Senior Reporter)April 4, 2023

Prof. Wole Soyinka has criticised the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for the controversial naira redesign policy that resulted in a nationwide cash crunch. Speaking in an interview with Channels TV on Monday, the Noble laureate said Emefiele “committed a crime against humanity”. The CBN introduced redesigned N200, N500, and N1,000 banknotes in October 2022 to control the money supply and aid security agencies in tackling illicit financial flows. The...

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Onne Port: 16 New Terminal Trucks commissioned by WACT

BusinessNewsNigeriaOnne Port: 16 New Terminal Trucks commissioned by WACT

By Uzoamaka Ikezue (Staff Reporter)April 3, 2023

To boost efficiency and cargo handling operation at the Onne Port, Rivers State, the West Africa Container Terminal (WACT) has commissioned 16 brand new terminal trucks, and has moved a step further to realise its vision of becoming the gateway to Eastern Nigeria and beyond. According to the report, the additional container handling equipment will further improve the already quick turnaround time for vessels. With the acquisition and commissioning of the new terminal trucks, WACT...

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Soludo Urges Residents To Report Banks That Rejects Old Notes 

BusinessNewsNigeriaPoliticsSoludo Urges Residents To Report Banks That Rejects Old Notes 

PilotnewsMarch 14, 2023

Anambra State Governor, Chukwuma Soludo has urged residents of the state to report any bank that refuses to accept deposits old notes. Soludo made this in a statement through his verified Facebook page. “Commercial banks have been directed by the Central Bank to dispense old currency notes and to also receive same as deposits from customers. Tellers at the commercial banks are to generate the codes for deposits and there is no limit to the...

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Naira scarcity: Buhari rebuts claims of alliance with CBN governor, AGF to defy S’Court’s order

BusinessNewsNigeriaNaira scarcity: Buhari rebuts claims of alliance with CBN governor, AGF to defy S’Court’s order

By Ezinwanne Onwuka (Senior Reporter)March 14, 2023

President Muhammadu Buhari has finally broken his silence over the Supreme Court’s order that extended the validity of the old N200, N500 and N1000 notes till December 31, 2023. His reaction came against the backdrop of speculations that he directed the Central Bank Governor, Godwin Emefiele, and the Attorney-General of the Federation, Abubakar Malami, to disregard the court order. Describing such attacks on the President as “unfair and unjust”, the senior special assistant to the...

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