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Business

October, 2021

  • 15 October

    Naira crashes to record low at official market

    The value of the naira fell further by 1.68 per cent against the dollar at the official market on Thursday. At the Investor & Exporter foreign exchange window, the local currency opened at 413.15/$1 on Thursday but closed at 422.07/$1. The naira had depreciated by 0.19 per cent to 415.10/$1 on Wednesday after closing at 414.30/$1 on Tuesday. At the ...

  • 14 October

    Adeduntan lists 6 key benefits of First Bank’s new deal with NIBSS

    First Bank Nigeria Plc. has gone into partnership with the Nigeria Inter-Bank Settlement System Plc. (NIBSS) on its Nigeria Quick Response (NQR) payment solution. The Bank’s Chief Executive Officer, Dr Adesola Adeduntan, said in a statement issued on Wednesday in Lagos. NQR is an innovative payment option implemented for all financial service providers. From his comments YOU NEWS list the ...

  • 12 October

    Osinbajo calls for devaluation of Naira !

    Nigeria’s Vice-President, Yemi Osinbajo, has called on the country’s apex bank, Central Bank of Nigeria (CBN), to devalue the naira to reflect the reality of the market. Speaking at the midterm retreat of President Muhammadu Buhari’s second tenure, the vice-president said the exchange rate is artificially low, and this is deterring investors from bringing foreign exchange into the country. “As ...

  • 10 October

    Customers demand compensation as MTN apologizes on failed network

    “Trust there would be some compensation for loyalty. Some serious virtual meeting disrupted!” Let’s hope that “Time bound” data subscribers will get an extension. These and many similar direct request went viral . In a quick reaction on Saturday afternoon the MTN Senior Manager, External Relations, Funso Aina wrote: ”Good evening dear friends. Please note this. We are very sorry ...

  • 10 October

    12.5kg cooking gas may sell for N10,000 by Dec
    -marketers

    Marketers of Liquefied Petroleum Gas, well known as cooking gas, on Saturday, expressed worry over the supply shortage leading to persistent increase in the price of the commodity. They warned that 12.5kg of cooking gas currently selling between N7,500 and N8,000 could rise to N10,000 before December if nothing was done to address the crisis. The marketers lamented that more ...

  • 9 October

    Man uses boy as ‘collateral’ to steal two bags of rice from Lagos shop

    retailer on Felicia Oke Street in the Olowora area of Lagos State, Olabisi Opeyemi, is smarting from the loss inflicted on her by a suspected thief who disguised as a customer to steal two bags of rice from her shop. The suspect, still at large, went to the shop on Thursday afternoon in company with two boys said to be ...

  • 2 October

    Opinion : ABC of why Rivers, Lagos, others want to control their VAT

    Vat means value added tax. This is a tax imposed on all products at the point of sale. If a product is produced in Lagos, and Mr Audu buys it from the company in Lagos at 30naira , he has already paid VAT i.e 7.5% of the money paid by Audu to the company will be collected by FIRS not ...

September, 2021

  • 29 September

    Finally, Messi scores for PSG to make it 2-0 vs Man City

    Messi has sprung to life vs Manchester City, netting a sumptuous ball from the edge of the ball to make it a 2-0 lead for PSG in Tuesday night’s encounter. The two Group A teams were having a cagey second half despite PSG’s early lead through a Gueye goal. However, a counter-attack led by Mbappe and co saw PSG score ...

  • 27 September

    Banks shut branches as robbers send ‘notice of attack

    Fear has gripped the ancient town of Ijebu-ode and its environs, as commercial activities in the town have been grounded, due to a letter purportedly written by armed robbers, which has also forced commercial banks in the city to down tools. You News learnt that the banks closes office, as it is believed that government could not guarantee security of ...

  • 27 September

    Naira exchanges 580 to the dollar

    The naira exchanged to the dollar at 580 on Friday, while the Pound Sterling traded for 780 at the parallel market. Some Bureau de Change operators who spoke to our correspondent said that the naira to the dollar was bought and sold at 575 and 580, while the Pound Sterling was bought and sold at 775 and 780. At the ...