CBN bans discriminatory e-payment services
The Central Bank of Nigeria (CBN) has banned all forms of discriminatory practices in the provision of electronic payment service. This was one of the highlights of two revised guidelines relating to e-payment services issued by the apex bank on Friday. The guidelines are: Guidelines on Transactions Switching in Nigeria; and Guidelines on Operations of Electronic Payment Channels in Nigeria.
Bailing out: FG’s exercise in futility
We are looking asking for an eighteen-month moratorium before we can start paying , so that we will be able to strategise…To develop the IGR is not overnight, it is a long term programme that one has to plan for…and we cannot say we are going to cut salaries and wages.” Governor Yari, Chairman of Nigeria Governors Forum, April 28, 2016, in Abuja.
Experts to parley on expanding access to affordable housing
How to expand access to affordable housing in Africa will be the focus of stakeholders in the built environment as participants from 10 countries and 200 indigenous companies gather at the 10th Abuja Housing Show scheduled for 18th to 20th July, 2016. The Abuja Housing Show is an annual one stop-shop for real estate stakeholders presenting new products, innovative services and technology. It is a unique forum where practitioners in the housing and construction industry meet to exchange ideas and proffer solutions to housing problems.
NCAA denies knowledge of foreign airlines demanding dollars from Nigerian passengers
Nigeria Civil Aviation Authority, NCAA, has said the regulatory authority is not aware of any reported case of foreign airlines operating in Nigeria charging Nigerian passengers dollars instead of Naira the official currency of the country. Investigations by Vanguard revealed that most of the Public relation consultants of the foreign airlines operating in Nigeria are not aware of this development also. The Media Executive, JSP Communications, Ijeoma Okolie, media consultants to Emirate Airlines, said she is not aware of the airline charging fares in dollars and compelling Nigerian passengers to also pay in foreign currencies.
Inflationary pressures to continue as international prices rise
Ahead of next week’s scheduled release of April 2016 inflation reading, economists at FSDH Merchant Bank have predicted a continued spike in the headline index. According to them the April 2016 inflation rate (year-on-year) is expected to increase to 13.7 per cent from 12.77 per cent recorded in the month of March 2016.
Court strikes out AMCON’s suit against Capital Oil
A Federal High Court sitting in Lagos, has struck out the suit instituted by Assets Management Company of Nigeria, AMCON against Capital Oil and Gas Ltd, holding that the suit is premature and seeks to circumvent existing suits in different courts on issues relating to the alleged indebtedness of Capital Oil and Gas, which is currently under dispute.
