Some foreign investors who spoke to THISDAY on Thursday on condition of anonymity, have expressed concerns over move by the Senate to retroactively amend the Finance Act 2023, and impose a one-time windfall tax on banks’ foreign exchange gains realised in their 2023 financial statements. This comes as the Minister[Read More…]
Author: Godwin Anyebe
FCCPC has accused Meta of data misuse and market abuse, imposing a $220 million fine for infringing Nigerian consumer rights.
The Federal Competition and Consumer Protection Commission (FCCPC) on Friday, imposed a $220 million fine on Meta, formerly known as Facebook and WhatsApp over alleged consumer rights’ infringements. In a statement, acting Executive Vice Chairman/Chief Executive, FCCPC, Dr. Adamu Abdullahi, accused the social media platforms of denying Nigerian data subjects[Read More…]
WITH GIANTS CAMPAIGN, FIRSTBANK IS TRULY WOVEN INTO THE FABRIC OF SOCIETY
The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and outside Nigeria. In its usual creative conjecture, 13O-year-old FirstBank, has[Read More…]
Dangote Refinery 45% completed, not yet licensed – NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday said the 650,000 barrels per day Dangote refinery is still at the pre-commissioning stage and has not yet been licensed. The NMDPRA Chief Executive, Farouk Ahmed, disclosed this while speaking to the state house correspondents on Thursday. Mr Ahmed[Read More…]
Dufil Prima Foods Unveils New Flavour For Indomie Relish
…Expands its offerings with refreshed beef flavour to deliver a complete meal experience to consumers Dufil Prima Foods Limited, renowned for its leading Indomie brand, is proud to announce that it has added a new beef flavour to its Indomie Relish line of products, marking a significant milestone for the[Read More…]
Air tickets cross-border trading must be tackled — FCCPC
Cross-border trading of foreign airlines Inventories, which has impacted negatively on Nigeria’s travel economy, has been described as a monster that must be tackled frontally and destroyed. Alhaji Adamu Abdullahi of the Federal Competition and Consumer Protection Commission ( FCCPC), stated that the trend if left unchecked, is dangerous, worrisome,[Read More…]
Nigerian Court strikes out Advertising Regulatory Council of Nigeria’s N30 billion ‘illegal advert’ suit against Meta Platforms
The Federal High Court sitting in Abuja has struck out a N30 billion alleged illegal advertisement lawsuit instituted against Meta Platforms Incorporated (owners of Facebook, Instagram and WhatsApp platforms) and its agent AT3 Resources Limited by the Advertising Regulatory Council of Nigeria (ARCON). Justice Peter Lifu struck out ARCON’s case[Read More…]
Dangote Group targets $30bn revenue to strengthen naira
The President of Dangote Group, Aliko Dangote, has said that his businesses’ $30bn revenue target by the end of 2025 will boost the naira. Dangote said this on Sunday during a tour of Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited by media executives, indicating a plan to attain[Read More…]
NAFDAC shuts Sokoto bakery for using saccharine, bromate
The National Agency for Food Drug Administration and Control (NAFDAC) has shut down a bakery for using unfortified sugar and banned bromate in Sokoto. The NAFDAC State Coordinator, Mr Garba Adamu, told the News Agency of Nigeria (NAN) on Friday that the bakery was detected during a special raid by[Read More…]
Challenges of Weight and Measure for Nigerian Consumers and the Way Forward
In Nigeria, the issue of accurate weight and measure poses significant challenges for consumers across various sectors, from food and beverages to commodities and retail products. The accuracy of measurements directly impacts consumer trust, fairness in trade, and overall economic stability. Addressing these challenges requires a concerted effort from regulatory[Read More…]
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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…]