Category: Business

The Central Bank of Nigeria, CBN has given a 60 days deadline to Point of Sales terminals in the Country to be geo-tagged or will be shut down. This is another bold step taken by the apex bank to curb incessant cases of fraud against some of the terminals. “This initiative is designed to ensure that all PoS terminals are traceable and that transactions are secure. Terminals operating outside their registered location will be flagged, and non-compliant devices will be deactivated.” This is contained in a statement issued on Tuesday…

The Lagos Metropolitan Area Transport Authority (LAMATA) has said yellow buses, popularly known as Danfo, remain central to the state’s transport system despite ongoing reforms. This was disclosed by LAMATA”s Managing Director,  Abimbola Akinajo, while speaking on Channels Television’s Sunrise programme on Saturday. Akinajo said, “It is not about throwing away what exists. “We work with the yellow buses because if you do not interact with them, you cannot speak of regulation; they are the ones who carry the majority of people in Lagos.” Akinajo explained that the Bus Industry…

The Management of Dangote Petroleum Refinery has debunked recent reports alleging a shutdown of its operations, reassuring the general public and marketers that its activities remain fully active and stable. This was disclosed in an official statement by the Group Chief Branding and Communications Officer, Anthony Chiejina, the refinery’s management categorically denied claims that truck loading was suspended or production has been interrupted. “The Dangote Petroleum Refinery is fully operational. There has been no shutdown, nor has there been any suspension of truck loading activities” the statement added. The refinery…