Economy
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Netflix to charge fees over password sharing to non-primary account holders
Netflix, the online streaming company is to launch a test letting primary account holders pay an additional fee for users outside their households. This new attempt by the company is to address illicit password-sharing. According to the Netflix terms of service, a customer’s account “may not be shared with individuals beyond your household.” After years of turning a blind eye…
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Buhari takes responsibility over fuel scarcity, poor electricity supply, apologises to Nigerians
President Muhammadu Buhari has taken responsibility over the fuel scarcity and poor electricity supply in the country. President Buhari in a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, “expressed sincere regrets for the inconvenience caused to citizens of the country”. The president assured Nigerians that relief was on the way, saying that his government was…
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Zenith Bank, MTN Nigeria, others donate N16.5bn to charities in 2021
Leading companies in Nigeria, Zenith Bank Plc, MTN Nigeria Plc, and four others donated N16.47billion to different charities in 2021, a decline of 0.7 per cent from N16.58billion in 2020. Others are Dangote Cement Plc, Lafarge Africa Plc, United Bank for Africa Plc (UBA) and Guaranty Trust Holding Company Plc (GTCO). The donations are in accordance with the provisions of…
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NGX, IFC partner to build capacity on green bonds issuance
Nigerian Exchange Limited (NGX) in collaboration with International Finance Corporation (IFC) – a member of the World Bank Group – hosted a training for issuers and market operators on the issuance of sustainable financial instruments on 10th and 11th March 2022. The training themed ‘Deep Dive in Green, Social and Sustainability Bonds Issuance’, is sponsored by the Kingdom of Netherlands…
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Informal sector, key driver of economic growth, Oyetola
By Deborah Oladejo, Osogbo Osun State Governor, Mr. Gboyega Oyetola has described the informal sector as a key driver of economic growth, job creation and cultural preservation of every nation. Oyetola said this during a meeting with members of the state’s Artisan Workers Union on Tuesday in Osogbo. The governor, who was represented by his Special Adviser on Civic Engagement,…
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GTCO to host 5th edition of food, drink festival
Guaranty Trust Holding Company Plc (GTCO Plc), is set to continue its long-running showpiece event– The Food and Drink Festival. For the 5th edition, this headlining event will hold from Saturday, April 30 to Monday, May 02, 2022, at the GTCentre, Plot 1 Water Corporation Drive, Oniru, Lagos. The GTCO food and drink festival brings together the biggest chefs and…
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‘107.2 million barrels of crude oil missing’
Defunct Nigeria National Petroleum Corporation (NNPC) now NNPC Limited has failed to account for about 107,239,436 barrels of crude oil lifted for domestic consumption in 2019, a report by the Auditor-General for the Federation has indicated. It also stated that records from performance report of two depots indicated that about 22,929.84 litres of PMS worth N7.06 billion pumped to the…
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FG asks tech giants, Google, Apple to deactivate illegal online banks, loan apps
The Federal Competition and Consumer Protection Commission (FCCPC) has ordered Google LLC (Play Store) and Apple Inc. (Apple Store) to deactivate unauthorised online banks and loan applications operating in Nigeria. The Federal Government agency asked the tech giants to delete the applications where evidence has established inappropriate conduct or use of the application in violation of the rights of consumers.…
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Toll collection to resume at Lekki-Ikoyi link bridge April 1
Toll operations at the Lekki-Ikoyi Link Bridge will commence on April 1, 2022, the Lekki Concession Company Limited has announced. This was disclosed via a statement issued by the Managing Director of the LCC, Yomi Omomuwasan, on Monday. He noted that that commuters plying the corridor will not pay any toll for the first two weeks until April 15, 2022.…
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Stock Market begins week on investors’ profit-taking
The stock market of the Nigerian Exchange Limited (NGX) on Monday closed transaction for the first trading day of the week in the red, thereby halting the bullish run. The All-Share Index decreased by 8.81 basis points or 0.02 per cent to close at 47,428.67 points. Similarly, the market capitalisation lost N5 billion to close at N25.561 trillion. Market sentiment,…
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