One of Nigeria’s leading financial services provider, First Bank of Nigeria Limited, has announced that within the last year, it has supported educational institutions in the country with loans in the sum of over 10 billion naira. The Bank’s support is carried out through its FirstEdu product, an educational solution[Read More…]
Author: Godwin Anyebe
Finance ACT 2019: 20 Basic Food Items, Sanitary Pads Others Make List of VAT Exemption List
In a bid to ensure that the cost of living does not rise for Nigerians because of the changes in the Value-Added Tax, several basic food items, locally manufactured sanitary towels, pads and tuition relating to nursery, primary, secondary and tertiary education have been added to the exemption list of[Read More…]
Reps panel asks NERC to suspend electricity tariff increase
The house of representatives committee on power has asked the National Electricity Regulatory Commission (NERC) to suspend the planned increase in electricity tariff. NERC had directed the electricity distribution companies (DisCos) to enforce an upward review of the tariff starting from April 1. But at its meeting in Abuja on[Read More…]
Huawei leads in products type approval by NCC
Huawei remains the firm to beat in terms products Type Approval amongst all Original Equipment Manufacturers (OEMs) and digital products distribution franchises operating in Nigeria, according to the Nigerian Communications Commission (NCC). Recalls that the NCC is empowered by the Nigerian Communications Act 2003 to establish and enforce standards for[Read More…]
Investigation: Honey products with NAFDAC number impure, compromise health
There is a proliferation of impure honey in major malls and shops in Abuja, Nigeria’s capital city. The spread of low quality honey products compromises the health of Abuja residents, Amos ABBA and Rebecca AKINREMI examine five popular honey products in Abuja supermarkets. In the report, they also expose how[Read More…]
CBN Directive: Petrol Stations, Malls Still Charge N50 Stamp Duty
Despite the repeated clarification and caution from the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC), investigation by Daily Trust reveals that merchants have continued to charge their customers N50 stamp duty. Daily Trust reports that the Federal Government recently stopped the additional N50[Read More…]
Expert urges amendment of Consumer Protection Act
A retired Judge of the Federal High Court, Justice E. O. Sanyaolu, has urged stakeholders in the justice sector to take a look at the Federal Competition and Consumer Protection (FCCPC) Act 2019 in order to address possible areas of amendment of the Act. Noting that the Act was signed[Read More…]
How would SON react to consumers’ issues in 2020?
Most market transactions in Nigeria continue to be governed largely by the dated rule of caveat emptor (BUYERS BEWARE) despite the evolution of government agencies saddled with regulating the exchange of quality goods and services for consumers hard earned money. Actually, Nigerians deserve better and the concerned agencies will do[Read More…]
Unlawful Account Freeze: Court ordered Access Bank Plc fine of N25million
An Ikeja High Court has ordered Diamond Bank Plc (Access Bank Plc) to pay a Lagos-based legal practitioner, Adetokunbo Odutola, Twenty Five million naira (N25m) as damages for unlawfully freezing his bank account. Justice S.O. Nwaka held that the bank failed in its duty of care to Odutola and was[Read More…]
Between fuel pump scam and Consumers
These digital fuel pumps are being used by filling station attendants to scam fuel buyers when you are buying into vehicle tank. It had happened to me several times but my suspicion was not confirmable and contestable. Yesterday, I opted to buy N2,500.00 fuel. The attendant programmed the pump accordingly.[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]