NAFDAC Warns About Fake Milk In Circulation

The National Agency for Food and Drug Administration and Control (NAFDAC) has warned members of the public in a statement issued on Wednesday about the sale of fake Arla Dano 14g full cream milk powder currently in circulation in Nigeria. The statement reads in part, “NAFDAC zonal directors and state coordinators have been directed to conduct surveillance and mop up the counterfeited Arla Dano 14g full cream milk powder across the states in Nigeria.

CBN Pays $2Bn FX Backlog, Defaulters To Be Sanctioned

The Central Bank of Nigeria (CBN) has stated that it has paid approximately $2 billion in Foreign Exchange (FX) backlog across several sectors. This was made known in a statement issued by the CBN Spokesperson, Hakama Sidi Ali, adding that FX defaulters will be prosecuted.

OPay To Block Accounts On March 1 For Non-Compliance With KYC Requirements

OPay, a Fintech company, has disclosed that fraudulent accounts and accounts which are not KYC compliant will be blocked on its system from March 1, 2024. KYC (Know-Your-Customer) is a process utilized by banks to obtain information about the identity and address of its customers, which helps to ensure that the services of banks are not misused. The Fintech firm stated that security measures on its platform have been upgraded and new customers are now required to provide their National Identity Number (NIN) for account opening.

Lagos State Warns Over Poisonous Plantain Chips

The Lagos State Consumer Protection Agency (LASCOPA) has warned residents over the consumption of fried plantains popularly known as “plantain chips”, regarding the unhealthy practices and frying of the plantain chips.

Biggest Container Vessel Berths At Lekki Deep Seaport

The largest container vessel to sail in Nigerian territorial waters landed at the Lekki Deep Seaport. The vessel measuring 367M in length overall christened “Maersk Edirne” has a Breadth of 48.2 and carries a Gross Registered Tonnage (GRT) of 142,131metric tonnes and a Deadweight Tonnage (DWT) of 147,340 metric tonnes, constituting 3,376 total cargo onboard was navigated to safety by the highly experienced and thoroughly equipped Pilots of the NPA.

Naira Falls To N1,330/$ At Parallel Market

The Naira on Tuesday, January 16, declined to N1,330/$ at the parallel market. If fell by 3.91 percent or N50 from the N1,280/$ rate recorded on Monday. This comes despite a 460.52 percent forex turnover rise to $147.81 million at the end of Tuesday's trading. The depreciation at the official forex market comes after the Nigerian government received a $2.25 billion foreign exchange boost loan from the African Import-Export Bank over a week ago.

Improved Exposure To Internet Reduced Nigeria’s Poverty Rate By 7% - World Bank

The World Bank has said consistency and improved exposure to internet and other related online materials brought down the rate of poverty by 7% in Nigeria. The bank disclosed this in a new brief themed, “Digital transformation drives development in Africa.”

Ajaokuta Steel Mill To Begin Production Of Military Hardware

The Minister of Steel Development, Shuaibu Audu revealed that the Federal Government plans to begin production of military hardware at Ajaokuta Steel Mill located in Kogi State. He made this known on Monday during an interview on the Channels Television programme, Politics Today.

Alex Otti Appoints Sanusi, Okonjo-Iweala, Others As Members Of Economic Council

Abia State Governor, Alex Otti has listed the seventh Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, and the former governor of the Central Bank of Nigeria (CBN), His Highness Muhammad Sanusi II (14th Emir of Kano) and other eminent citizens as members of the newly inaugurated Abia Global Economic Advisory Council (AGEAC) Global Economy Council. The governor who made this announcement on Thursday, 18th of January 18 2024 during the inauguration of the council disclosed that the team is aimed at building the state into a self-sustaining economic hub.

NNPC Seeks Private Entities to Run Port Harcourt Refinery

In a move aimed at boosting efficiency and productivity, the Nigerian National Petroleum Company Limited (NNPCL) is seeking to transfer the operations of the Port Harcourt Refinery to private entities. The Minister of State for Petroleum Resources, Heineken Lokpobiri, announced the mechanical completion of the refinery last month. The national oil company is actively searching for reputable and credible Operations & Maintenance (O&M) companies to operate and maintain the Port Harcourt Refining Company (PHRC) to ensure reliability and sustainability to meet the nation’s fuel supply and energy security obligations.