Telecoms giant, MTN, says it is finalising modalities to compensate its subscribers for the major network disruption last week. Corporate Services Executive at the leading mobile network operator, Sam Koranteng, said discussions on the compensation package will soon be announced. “At MTN, when our subscribers have gone through some discomfort[Read More…]
News
Our labs are certified to check substandard products – NAFDAC
Prof. Mojisola Adeyeye, the Director-General (DG), National Agency for Food and Drug Administration and Control (NAFDAC), says five out of its seven laboratories are now certified to check substandard products. Adeyeye said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday. “We have seven[Read More…]
CBN sets new rules to improve PoS usage
Central Bank of Nigeria (CBN) is taking steps meant to get more people embrace e-payment channels, especially Point of Sale (PoS) machine. The Nigeria Interbank Settlement System (NIBSS) data showed the total volumes of PoS transactions for 2017 stood at 146.3 million, which was worth N1.4 trillion; 285.9 million transactions[Read More…]
NESG urges Nigeria to maximise AfCFTA opportunities
Latest technical report by Nigerian Economic Summit Group (NESG), has revealed that the African Continental Free Trade Area (AfCFTA), may lead to one of two outcomes; a win-win outcome for all African countries, or a zero-sum game in which the gain of one country becomes the loss of another and[Read More…]
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…]
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…]
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…]
Substandard products: SON prosecuting 15 defaulting importers, manufacturers
Standards Organisation of Nigeria (SON) has no fewer than 15 ongoing cases of defaulting importers and manufacturers of substandard products under prosecution in various courts across the country. Mr Bola Fashina, Special Assistant to SON Director-General, disclosed this in an interview with News Agency of Nigeria (NAN) in Abuja recently.[Read More…]
Electricity consumer group faults NERC’s plan to cap estimated bills by DisCos
A group, the All Electricity Consumers Protection Forum on Thursday faulted the plan to regulate estimated electricity bills issued by power distribution companies to their unmetered customers, billed to begin in February. Its National Coordinator, Mr Adeola Samuel-Ilori, told the News Agency of Nigeria (NAN) in Lagos that the Nigerian[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…]