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August 30, 2024 Federal Government Grants Approval to Crypto Operators
IFMUYONEWS

Federal Government Grants Approval to Crypto Operators

The federal government has officially granted operational approvals to several crypto operators, indicating official acceptance of the digital currency.

On Thursday, the Securities and Exchange Commission (SEC), announced that it has granted two Digital Assets Exchanges approval-in-principle to commence operation under its Accelerated Regulatory Incubation Programme (ARIP) and also admitted four firms to test their models and technology under its regulatory incubation programme.

The firms include Busha Digital Limited, Quidax Technologies Limited, Trovotech Ltd, Wrapped CBDC Ltd, HousingExhange.NG Ltd, Dream City Capital, and Blockvault Custodian Ltd.

August 30, 2024 FG Gives Deadline To Traders Hiking Prices of Goods in the Country
IFMUYONEWS

FG Gives Deadline To Traders Hiking Prices of Goods in the Country

The Federal government has given a one-month deadline to traders and other market stakeholders involved in exploitative pricing to crash the prices of goods.

 

 

Speaking at a one-day stakeholders engagement on exploitative pricing on Thursday in Abuja, the newly appointed Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), Mr. TUNJI BELLO, said the commission will begin enforcement after the one month deadline.

 

 

He said that the meeting was to address the growing trend of unreasonable pricing of consumer goods and services and the unwholesome practice of market associations.

August 29, 2024 MAN Appeals to Central Bank of Nigeria to Reduce Interest Rates
IFMUYONEWS

MAN Appeals to Central Bank of Nigeria to Reduce Interest Rates

The Manufacturers Association of Nigeria (MAN) has appealed to the Central Bank of Nigeria – CBN to reduce interest rates to save the country’s manufacturing sector.

The outgoing Chairperson of MAN in Kwara/Kogi States, BIOKU RAHMAN, made the appeal at the association’s 10th Annual General Meeting (AGM) in Ilorin, the Kwara State capital.

Mr RAHMAN said the CBN needs to direct commercial banks to reduce interest rates on industrial loans. He also urged the Bank of Industry (BOI) to roll out further reductions in its lending rates to industries.

The outgoing MAN Boss urged the CBN to widen the window of foreign exchange to local industries while urging the federal government to harmonise taxes and levies at the federal, state and local government levels.

August 19, 2024 NNPCL Denies N6.8b Debt to International Oil Traders
IFMUYONEWS

NNPCL Denies N6.8b Debt to International Oil Traders

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has refuted claims that it owes international oil traders 6.8 billion dollars.

The NNPC’s statement follows a recent report alleging that the oil giant was in debt to foreign oil traders and had failed to remit revenue to the Federation Account since January.

Reacting to this, NNPC, in a statement through its spokesperson, OLUFEMI SONEYE, dismissed the allegation as inaccurate.

The company explained that while it operates on credit terms in the oil trading business, it is up-to-date with its payments and maintains open credit lines with multiple traders.

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