Business Archives - Page 17 of 46

Feb

26

2025

The Exorbitant Effects of Current Telecom Charges: ECK Calls for Immediate Reversal

Business, Economy, Metro, News, Opinion, PoliticsEconomy, Emeka Kalu, Metro, Next Level, Nigeria, Politics

The recent hike in telecom service charges by network providers such as MTN and Airtel has sparked widespread concern among Nigerians. Despite warnings from labor unions and other stakeholders, these providers have increased data subscription charges, with one gigabyte now costing 600 naira, up from the original 350 naira. This move has been deemed highly exploitative, particularly in light of the country's current economic struggles. The Chairman and President of ECK Foundation Worldwide, and the director of Global Initiative For Good Governance, GIGG, Chief Dr. Emeka Kalu, has faulted the Nigerian government's approval of this tariff hike that has been…

Feb

07

2025

By Amos Oge Kalu

Naira Records Highest Gain Against Dollar at Black Market

Business, Economy, Metro, NewsBusiness, Economy, Naira

OHAFIATV reports that the Nigerian Naira has appreciated significantly against the US Dollar at the parallel foreign exchange market. According to a Bureau de Change Operator in Abuja, the Naira strengthened to N1570 per dollar on Thursday, gaining N20 from the previous day's rate of N1590 per dollar. This marks the largest daily gain for the Naira since the start of the week. Meanwhile, at the official market, the Naira fell to N1,500.65 per dollar on Thursday, down from N1,499.76 the previous day. After Thursday's trading, the Naira firmed up by N20 at the black market and dropped by N0.89…

Jan

31

2025

By Amos Oge Kalu

Abuja Police Crack Down On Massive Theft Ring, Recover Stolen Goods Worth N1 Billion

Business, Economy, Metro, NewsAbuja, Business, Crime, Police

Abuja, Nigeria - In a major breakthrough, the Abuja Police Command has arrested a group of suspects linked to the theft of critical infrastructure components, including 115 manhole covers and transformer parts, valued at an astonishing N1 billion. The daring heist, which occurred in various locations across Abuja, left residents and authorities stunned. However, following a meticulous investigation, police operatives tracked down the suspects and recovered the stolen items. The theft of manhole covers and transformer components not only poses a significant risk to public safety but also disrupts essential services, causing inconvenience to residents and businesses. The police have…

Jan

28

2025

By Amos Oge Kalu

Banking irregularity: Access Bank accused of granting N1b loan without collateral

Business, Metro, NewsAccess Bank, Business, Metro

More facts have emerged about how Access Bank granted an N1 billion loan to DDSS International Company Limited, using a property belonging to MOB Integrated Services as collateral without the owner's consent. According to details of the loan obtained by investigators, the property, owned by MOB Integrated Services, was first used to guarantee a loan of N193,139,200 to Balmoral International Limited on May 21, 2013. The credit facilities, referenced AOB/BB/VO/AD/031/05/2013, also included an N120 million term loan and an N20 million import duty facility. The term of the loan was 180 days from the date of disbursement at 20 percent…

Jan

28

2025

By Amos Oge Kalu

Court orders arrest of Access Bank MD, others over alleged property theft, belonging to Obanikoro’s family

Business, Economy, MetroAccess Bank, Business, Court, Economy

A Lagos State High Court judge, Justice Ibironke Harrison, has ordered the arrest of Access Bank's Group Chief Executive, Bolaji Agbede, Managing Director, Roosevelt Ogbonna, and Company Secretary, Robert Imowo, over an allegation of property theft belonging to Obanikoro's son. This is contained in a bench warrant issued by Court No. 18 of the High Court of Lagos State with suit No. LD/24884c/24 with Lagos State Government as Complainant and Bolaji Agree and others as Respondents. The Judge made the order when the defendants, including Balmoral International Limited, DDSS International Company Limited, and Adejare Adegbenro, accused of conspiracy, obtaining by…