Category: Business

BREAKING: System Error Causes Debt Cancellation On MTN Network

ADEOLA YUSUF

“You’ll pay,” Mobile network firm to joyous subscribers who have been celebrating “special gift” from “god of MTN”   A glitch in MTN Nigeria’s system has caused the disappearance of debt on the accounts of subscribers who borrowed airtime from the company, Platforms Africa reports. It is yet clear how much is at stake as the company’s potential loss to this glitch. READ ALSO::Cassowary: ‘Miracles’ Of The World’s Deadliest Bird Prophet Muhammed Planted 300 Date Palms Here To Free Salman Al-Farsi From Slavery + PHOTOS Federal Civil Servants’ 2023 Salaries…

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Nigerian Government Asks Universities, Others To Remit 40% Revenue

ADEOLA YUSUF

The federal government has begun implementation of a 40 percent automatic deduction from internally generated revenues of federal universities and other partially-funded institutions, Leadership reports. The policy of 40 percent auto-deduction of gross IGR is in line with the Finance Circular with reference number FMFBNP/OTHERS/IGR/CRF/12/2021 dated December 20, 2021. The circular limits the annual budgetary expenditure from IGR of the partially funded federal government. The information was contained in a letter that was issued by the accountant-general of the federation, Mrs Oluwatoyin Madein, to the universities titled ‘Implementation of 40%…

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Nigerians Spend N200bn On Betting In One Year

ADEOLA YUSUF

. 65 million Nigerian men, women, and even underage (children) lavish $5.5m daily on betting   The money Nigerians spend on betting has hit N200 billion ($2 billion) in one year. Executive Secretary, National Lottery Trust Fund, NLTF, Bello Maigari, who declared this, added that more than 65 million Nigerians spend millions on betting, despite worsening economic hardship. Maigari also said the global online betting market had experienced exponential growth, making it worth over $50 billion. READ ALSO: “They Beat Me o,” With Swollen Eye, Bruises, NLC President Speaks On…

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Fry Pan to Fire, EFCC Detains Emefiele After DSS Frees ex-CBN Gov

ADEOLA YUSUF

Former Governor of the Central Bank of Nigeria, Godwin Emefiele, is currently being detained in the custody of the Economic and Financial Crimes Commission (EFCC). Emefiele, who is currently being interrogated at the National Headquarters of the anti-graft agency, Jabi, Abuja, was picked up by EFCC operatives Thursday night, less than an hour after he regained his freedom from the dungeon of the Department of State Services, the PUNCH reports. READ ALSO: He Did It, Police Confirm UNIPORT Student’s Muder By Boyfriend DSS Releases EFCC’s ex-Chair Bawa After 4 Months…

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Why Tinubu Should Declare State of Emergency In Mining Sector

ADEOLA YUSUF

    Vice President of the Manufacturers Association of Nigeria (MAN), South-West Zone, Dr. Kamoru Yusuf is the Chairman Basic Metal, Iron and Steel and Fabricated Metal Products. In this interview with journalists, he speaks on the impending issues, implications and dangers envisaged on the reversal of the 43 items on the prohibition list by the Central Bank of Nigeria, (CBN) as well as the possible solutions. Excerpts;   Genesis of the ban of 43 items by previous administration There is no doubt that the Nigerian economy is facing challenges…

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Elon Musk Loses $24 Billion As Tesla Stocks Drop By 9%

ADEOLA YUSUF

Elon Musk’s net worth took a hit of $24 billion as Tesla’s stocks plummeted by 9%. Despite this, he remains the world’s richest individual, with a net worth of $231 billion. The drop in Tesla’s share price can be attributed to the company’s disappointing Q3 performance, as per data from the Forbes billionaire index. Tesla’s shares dropped 9.3% from $245 on Wednesday to $220 by Thursday evening. In this quarter, Tesla’s net income was reported at $1.85 billion, marking a 44% decline compared to the same period in the previous…

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Fresh Fuel Crisis Rocks Nigeria

ADEOLA YUSUF

Depots run dry of petrol With N617 per litre, Nigerians beg for fuel as queues return to filling stations . NNPC rations product, wants panic buying blamed  . Fuel subsidy returns five months after Tinubu declared scheme gone forever    Nigeria, Africa’s biggest exporter of crude oil, has been hit by a major fuel crisis that may worsen the anguish citizens have been going through. Platforms Africa reports that the country, which ironically, doubles as the biggest importer of petroleum products, is grappling with supply shortage for premium motor spirit,…

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9 Things To know About Nigeria’s N26.01 Trillion 2024 Budget

ADEOLA YUSUF

2024 budget made simple and clear in just 265 words as a part of Platforms Africa “Explainer” series   The Nigeria’s Federal Executive Council (FEC) on Monday, October 16, proposed N26.01 trillion for the 2024 fiscal year for submission to the National Assembly. This is according to the Minister of Budget and Planning Atiku Bagudu who spoke after the Council meeting presided over by President Bola Tinubu. Platforms Africa presents nine key points in the budget. READ ALSO: N150bn Gas Contract Racket Rocks Nigeria’s Palliative Scheme I’ve Been Fighting A…

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N150bn Gas Contract Racket Rocks Nigeria’s Palliative Scheme

ADEOLA YUSUF

What we know; LPG dealers petition Senate Panel, give details of secret contract allegedly awarded to Rungas Group of companies   The Nigeria’s fuel subsidy removal palliative scheme has been rocked by N150 billion contract racket, Platforms Africa reports. Liquefied Petroleum Gas (LPG) dealers, who confirmed this, have already petitioned the Senate Committee on Gas Resources over the alleged secret award of N150 billion contract to Rungas Group Group of companies. READ ALSO: Why ExxonMobil’s $1.6 Bn Asset Sale To Seplat Hit The Rock – NUPRC Wuraola Esan: 1st Female…

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Toothpick, Wheelbarrow’s Importers Can Now Access Forex – CBN

ADEOLA YUSUF

  “How will those factories compete now…There is forex scarcity.. We have huge dollar denominated debt. The unemployment rate is 25% and galloping inflation. Sincerely, I need education on Tinubunomics..” You actually want to read what some Nigerians said on this, here    Some Nigerians have taken to the Platforms Africa forum to query the lifting of foreign exchange access ban on 43 items including toothpicks, and wheelbarrows, by the Central Bank of Nigeria (CBN). The apex ban, Platforms Africa earlier reported,  lifted the ban on 43 items previously restricted…

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