Fear Grips CBN workers Over layoffs of 117
The Central Bank of Nigeria has sacked about 117 staff cutting across 29 departments, staff of the apex bank said. Daily Trust reported that the layoff had been going on…
CBN Bans Foreign Collaterals for Naira Loans
▪︎CBN Governor, Olayemi Cardoso The Central Bank of Nigeria, CBN, on Monday, banned the use of foreign denominated collaterals for naira loans. This was contained in a circular dated April…
Indorama Eleme Secures $75m AfDB Loans for Expansions
▪︎Image: $75m loan agreement signing ceremony between AfDB and Indorama Eleme Fertiliser The African Development Bank has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals…
Nigerian Banks Begin Fresh Rounds of Recapitalisation
In Summary▪︎Global Banks N500bn▪︎National Banks N200bn ▪︎Regional Banks N50bn ▪︎All banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on…
SON Warns Importers Against Stuffing Tyres Before Shipment
The Standards Organisation of Nigeria (SON) has warned importers of tyres against stuffing it before shipment They may look nice in the eyes, but we rely on scientific investigation and…
Fanning and Cooling The Flames For Cement Importation
By Industrial Times staff writer For some time now, some among our tenth Republic Ministers have been fanning the flames to return Nigeria to the era of importation of bagged…
CPPE: Badmouthing Cement Manufacturers Is Unfair
Dr Muda Yusuf, the CEO of the Centre for the Promotion of Private Enterprise has condemned the recent remarks on the floor of the House of Representatives on cement price…
FCCPC Moves To Dissolve Market Associations Nationwide
▪︎ The Acting Executive Vice-Chairman of FCCPC, Dr Adamu Abdullahi. The Federal Competition and Consumer Protection Commission (FCCPC) is warming up to dissolve market associations in the country, saying that…
Unilever Ghana Moves Lipton Tea Production To Nigeria
“Again, Mr Speaker, Unilever Ghana, which has for a very long time been producing its famous Lipton tea in Ghana, has stopped its tea production here. Unilever has relocated its…
Spanish’s GB Foods Tomato Processing Factory Takes- Off in Nigeria
A new tomato processing factory and farm expansion by the Spanish multinational group, GB Foods have been commissioned in Gafara, Ngaski Local Government of Kebbi State. Abubakar Kyari, the Minister…