Business Archives - Page 28 of 46

Feb

16

2024

Abuja Supermarket Sealed Over Price Fixing

Business, Economy, Metro, NewsAbuja, Business, Economy, FCT, Metro

A popular supermarket in Abuja, Sahad Store, was sealed by the federal government on Friday due to allegations of price fixing and hoarding of commodities. The enforcement, led by Adamu Ahmed Abdullahi, the executive vice-chairman of the Federal Competition and Consumer Protection Commission (FCCPC), was a response to reports of the store charging prices different from those displayed on shelves. Mr. Abdullahi stated that FCCPC's preliminary investigation confirmed the supermarket's lack of transparency in pricing, contravening Section 115 (3) of the law. The store will remain sealed pending further investigation. Under Section 155, corporate entities found guilty could face fines…

Feb

10

2024

By Amos Oge Kalu

Debt dispute between MTN Nigeria and Globacom is resolved.

Business, Economy, Metro, NewsBusiness, Economy, GLO, Metro, MTN, NCC

An amicable resolution has been reached to the interconnect debt dispute between MTN Nigeria Communications Plc. (MTN) and Globacom Limited (Globacom). The Nigerian Communications Commission (NCC) made this pronouncement on Thursday. The NCC's Director of Public Affairs, Mr. Reuben Muoka, signed a statement stating that this resolution revokes the disconnection authorization that MTN was previously given to disconnect Globacom. In order to minimise any possible disruptions to subscribers, the Commission made additional regulatory interventions after publishing its original public notice. These interventions included resolving disputes between parties and aiding in the reconciliation process. "Strong compliance with licence terms and conditions,…

Feb

09

2024

By OHAFIATV

Ohanaeze advises Tinubu to engage Okonjo-Iweala, Ezekwesili, Adesina in addressing Nigeria’s hardship

Business, Economy, NewsBreaking, Business, Economy, Inflation

The revered Igbo group Ohanaeze Ndigbo has condemned the incompetence, nepotism-based appointments, and corruption that have plagued the Buhari and Tinubu administrations, respectively, which has contributed to the present economic crisis, inflation, and uncertainty in Nigeria. Essential commodity prices have soared to record levels, causing enormous pain for Nigerians. The widespread indignation in the nation is a reflection of the intolerable suffering caused by the constant threat of starvation that its inhabitants face. Nigerians have become tired of the federal government's empty promises, which have been made worse by the Naira's depreciation as a result of the current FX exchange…

Feb

08

2024

By Amos Oge Kalu

FG directs 102,000 metric tonnes of rice and corn to be released immediately.

Business, Economy, Metro, NewsBusiness, Economy, Metro

The delivery of 102,000 metric tonnes of rice and corn to Nigerians has been ordered by the federal government due to the country's food crisis and inflationary trend. The government has also stated that, in order to supplement supply, it may start importing any shortages that may arise. The Minister of Information and National Orientation, Mohammed Idris, made this statement while responding to inquiries from State House media soon after the Thursday meeting of the Presidential Committee on Food Emergency at the Presidential Villa in Abuja. According to him, "food will be made available, whatever it takes," under the president's…

Feb

03

2024

By Amos Oge Kalu

Increase in customs import duty rates directly undermines Nigeria’s economy – Dr Kalu

Business, Economy, News, OpinionEconomy, Metro, Next Level, Nigeria, Nigeria Customs, Opinion

In consideration of the nation's dampening, decaying, and dwindling economy, the Nigeria Customs Service still finds it suitable to announce an increase in the import duty rate that is directly going to have adverse impacts on the entire national economic structure. Since the inauguration of this government in power, Nigerians have been sandwiched in tunnels of hardship, lack, and other confronting challenges without any meaningful commitment by the authorities to address the situation. The news on board all social media platforms has been the federal government's unexpected announcement that the January salary of Federal civil servants would not be paid…