Economy Archives - Page 50 of 69

Apr

10

2023

FG bars online banks from accessing customers’ photos, contacts

Business, Economy, Lifestyle, MetroBusiness, Economy, Metro, Nigeria

Loan apps on Play Store will lose their ability to access their users’ contacts or photos from May 31, 2023. This came as the Federal Government said it would enforce the latest policy by Google, saying the action was consistent with the Nigerian authorities’ move to curtail the invasion of customers’ privacy by loan app firms. The Federal Government had in recent time taken major decisions aimed at tackling the violation of customers’ privacy by loan apps. Notably, the Federal Competition and Consumer Protection Commission had recently registered 170 loan apps out of the 200 operating in the country. Google,…

Apr

02

2023

By Amos Oge Kalu

Nigeria to save $1.3bn by eliminating substandard products – UN

Business, Economy, NewsBusiness, Economy, Metro, Nigeria, Opinion, United Nations

The United Nations Environment Programme has said Nigeria will save about $1.3 billion yearly if it stops using air conditioners and refrigerators with energy efficiency ratios below globally acceptable Minimum Energy Performance Standards. It disclosed this in its latest report titled, “Project Overview of Scaling-Up Energy-Efficient and Climate-Friendly Cooling in Nigeria’s Nationally Determined Contribution Revision.” In the report made available on Friday by the Energy Commission of Nigeria, the Programme Management Officer, UNEP, Brian Holuj, explained that attaining Nigeria’s NDC concerning energy efficiency would significantly impact the country’s energy savings. The development comes on the heels of the increased number…

Mar

28

2023

By Amos Oge Kalu

Fire guts five-storey building in Balogun Market, Lagos

Business, Economy, MetroBusiness, Economy, Lagos, Metro

Fire on Tuesday gutted a section of a five-storey In Balogun Market, Lagos building. The fire which started in the early hours of Tuesday led to the loss of properties worth millions of naira. Confirming the incident, the Lagos State Fire and Rescue Service in a statement signed by the Director Adeseye Margaret said the fire was under control. The statement said, “Fire at Balogun under control. “The fire is however under control as mitigation is on to limit its spread update to follow as the situation unfolds.”

Mar

26

2023

By Amos Oge Kalu

CBN Clears Air On Suspending OPAY & PALMPAY Accounts

Business, Economy, MetroBusiness, CBN, Economy, Metro, Money, Nigeria

The Central Bank of Nigeria (CBN) has debunked claims going around that it has suspended accounts of some Fintech companies like OPAY and PALMPAY. The apex bank in reaction to the reports described it as fake news. The Acting Director of Corporate Communications of CBN, Isa AbdulMumin, on Friday, March 24, 2023, in Abuja described the viral news as “simply fake’’. The report which was credited to AbdulMumin claimed that the CBN was about to suspend accounts of the Fintech companies because they were being used to perpetrate fraud. The viral news partly read, “Please if you are using OPAY,…

Mar

25

2023

By Amos Oge Kalu

Soludo, Okonjo-Iweala, best appointments I made as President – Obasanjo

Business, Economy, Metro, Opinion, PoliticsEconomy, Metro, Next Level, Nigeria, Obasanjo, Opinion, Politics

Former President Olusegun Obasanjo on Saturday recalled his relationship with Governor Chukwuma Soludo of Anambra State and current Director General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala as his appointees. He said they about the best appointments he made while he was President. The former Nigerian leader also condemned the “persistent” discrimination against people of southeastern extraction, which he describes as Igbophobia. Obasanjo spoke at an event to commemorate Governor Soludo’s one year in office. In Obasanjo’s administration which spanned 1999 to 2007, Soludo served as the Governor of the Central Bank of Nigeria (CBN), while Okonjo-Iweala was the…