March 2022 - Page 3 of 10 - Business Metrics

CBN Release N1.73 Trillion for Food Imports in Six Months

FULL TEXT: CBN Communique No. 141 of the MPC Meeting – Mar 21, 2022

The Monetary Policy Committee (MPC) met on 21st March 2022, in an environment of heightened geopolitical tensions and persisting macroeconomic uncertainties, associated with the recent Russia-Ukraine...

CBN fines Access, Stanbic, UBA N800m over crypto transactions

Economy3 years ago

Banks’ credit to private sector rises 4.2% to N36.9trn

As CBN retain rates Currency in Circulation moderates to N3.29trn Banks’ credit to the private sector rose Month-On-Month (MoM) by 4.23 per cent to N36.9 trillion...

Iconic Folake Solanke urges CBN to stabilize naira

General3 years ago

Iconic Folake Solanke urges CBN to stabilize naira

The first female Senior Advocate of Nigeria, Chief Folake Solanke, has urged the Central Bank of Nigeria (CBN) to stabilise value of the naira to prevent...

General3 years ago

Buhari bets on Dangote’s $2.5bn fertiliser plant to boost food production, export

The President, Major General Muhammad Buhari, (Rtd) on Tuesday, inaugurated the $2.5 billion Dangote Fertilizer plant in Lagos. The plant has capacity to produce three million...

Over $10bn food production at risk in Nigeria

Politics3 years ago

How Ukraine war affects Africa: AfDB President Adesina highlights dangers

As many analysts look into how Ukraine war affects Africa, the President of the African Development Bank, Akinwumi Adesina, has warned that many African countries may...

Economy3 years ago

Reps go tough on NNPC, others over N5.6trn debts to FG

The House of Representatives’ Ad Hoc Committee on Recovery of Outstanding Debts Owed By Oil and Gas Companies has advanced drastic steps to recover a total...

Delta Airlines eying purchase of up to 100 Boeing 737 MAX

Aviation3 years ago

Delta Airlines eying purchase of up to 100 Boeing 737 MAX

Delta Air Lines and Boeing are advancing in negotiations to finalize the purchase of up to 100 737 MAX 10 aircraft, as reported by Reuters. According...

Aviation3 years ago

Delta Airlines to commence flight operations to new routes

DELTA Airlines has said it will soon commence flight operations to new routes as part of efforts to provide improved services to its customers. A statement...

Court Fines Multichoice N150m over Tariff Hike, Orders One Month Free Subscription The Competition and Consumer Protection Tribunal has fined the prominent Pay-TV operator, Multichoice Nigeria, owners of DSTV, GOTV, N150 million for disputing the court’s jurisdiction, and ordered the company to provide Nigerians with a one-month free subscription to its subscribers. A three-man panel led by Thomas Okusu gave the verdict on Friday. The tribunal had previously blocked Multichoice from raising subscription fees without proper notice, based on a lawsuit by Barrister Festus Onifade who claimed the eight-day notice given for the price increase was inadequate. Onifade had sued DSTV, accusing the Pay-TV of unjustly increasing subscription fees without one month’s notice to customers and leveraging on it to seek interim orders. Counsel for Multichoice had contended that previous rulings had settled price regulation issues, while Onifade focused on the inadequate notice rather than the price hike itself, prompting the tribunal to affirm its jurisdiction and rule against Multichoice. Court Fines Multichoice N150m over Tariff Hike, Orders One Month Free Subscription The Competition and Consumer Protection Tribunal has fined the prominent Pay-TV operator, Multichoice Nigeria, owners of DSTV, GOTV, N150 million for disputing the court’s jurisdiction, and ordered the company to provide Nigerians with a one-month free subscription to its subscribers. A three-man panel led by Thomas Okusu gave the verdict on Friday. The tribunal had previously blocked Multichoice from raising subscription fees without proper notice, based on a lawsuit by Barrister Festus Onifade who claimed the eight-day notice given for the price increase was inadequate. Onifade had sued DSTV, accusing the Pay-TV of unjustly increasing subscription fees without one month’s notice to customers and leveraging on it to seek interim orders. Counsel for Multichoice had contended that previous rulings had settled price regulation issues, while Onifade focused on the inadequate notice rather than the price hike itself, prompting the tribunal to affirm its jurisdiction and rule against Multichoice. The court subsequently fixed July 3 for a hearing of the plaintiff’s substantive suit.

Technology3 years ago

MultiChoice hikes prices of GOtv, DStv packages

MultiChoice has increased the prices of its DStv and GOtv packages in Nigeria. This was announced in a statement on Tuesday, stating the rising costs of...

STRIKE: Equity Market Records N102BN Loss

Markets3 years ago

Stock market sheds N17bn

Opening the week today the Nigerian equities sustained its losing streak for the third consecutive session as it declined by N17 billion. The All-Share Index (ASI)...