The Standards Organisation of Nigeria (SON) has arrested two Chinese nationals for importing fake and substandard mobile phones into the country. The Director General, Mr Osita Aboloma said at the clamp down of the office of the importer. Aboloma who was represented by the Director Compliance, SON, Mr. Bede Obayi, an engineer explained

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Global youth unemployment last year rose by 13.1 per cent, an increase from 12.9 per cent recorded at the end of 2015, the International Labour Organisation (ILO) has said. This was contained in ILO’s latest research report titled: “World Employment and Social Outlook for Youth 2016: Trends for Youths.” The report quoted ILO Deputy Director-

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The Central Bank of Nigeria (CBN) yesterday appointed Deposit Money Banks (DMBs), Microfinance Banks (MfBs) and Development Finance Institutions (DFIs) to disburse N220 billion targeted at the Anchor Borrowers’ Programme (ABP). The apex bank also released guidelines for the implementation of ABP which it said was established in line with its

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Oil prices hit 18-month highs yesterday, the first trading day of 2017, buoyed by hopes that a deal between Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members to cut production, which kicked in on Sunday, will drain a global supply glut. Benchmark Brent sweet crude jumped more than two per cent to a high of 58.37

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A cute scarcity of kerosene has hit the ancient city of Kano, making life unbearable for low-income earners, who depend on the product for cooking. Investigation showed that during the Christmas and New Year celebrations, the product became very scarce and the price rose. Filling stations have resorted to hoarding the commodity, selling to black-

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The power sector lost more than N534billion of revenue in 2016, the Nigerian Electricity Supply Industry (NESI) has revealed. Of this figure, the industry lost N1.525 billion on December 24, last year alone. According to NESI, the N534billion amounts to the value of electricity lost on account of the challenges, part of which could have been used to

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The Central Bank of Nigeria (CBN) has deregulated the Merchant Service Charge (MSC) and will be implementing a new pricing regime on electronic transactions by the second quarter of this year. MSC is a fee paid by merchants for e-transactions done through Point of Sales (PoS) terminals. CBN Director, Banking and Payment System Department

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