Sachet alcoholic drinks spike mental illness, enforce ban, psychiatrists tell Reps

Sachet alcoholic drinks spike mental illness, enforce ban, psychiatrists tell Reps

Mental health experts have urged the House of Representatives to maintain the ban on sachet and small bottled alcoholic drinks, stressing that studies show that high intake is linked to mental health problems, particularly among young people. The psychiatrists stressed that the availability of sachets and small bottled alcoholic drinks has a more negative impact on mental health and said the ban is in the best interest of the Nigerians. […]

March 5, 2024 9

BUSINESS

Harsh economic policies worsening unemployment, OPS tells govt

Members of the organised private sector have stated that harsh economic policies from the government have exacerbated country’s unemployment rate. In separate chat with The PUNCH, they warned that if the poor economic policies are not quickly addressed, more businesses would fold up and it would worsen the country’s unemployment. The President of the Nigeria Employers’ Consultative Association, Adewale-Smatt Oyerinde, warned that the repercussions of inadequate economic policies and a hostile […]

February 28, 2024 23

BUSINESS

CBN resumes forex sale to BDC operators after three years

The Central Bank of Nigeria has announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country. The development came three years after the former CBN governor, Godwin Emefiele, announced the suspension of foreign exchange sales to BDC operators. The apex bank disclosed this in a new circular issued and signed by the Director, Trade and Exchange Department, Hassan Mahmud, on Tuesday. […]

February 28, 2024 51

BUSINESS

NNPCL plans to end fuel shortage in 10 years

The Nigerian National Petroleum Company Limited has assured Nigerians that the country’s energy scarcity will be over in the next 10 years. The NNPCL Group Chief Executive Officer, Mele Kyari, disclosed this Tuesday at the opening ceremony of the seventh edition of the Nigerian International Energy Summit held in Abuja. In a statement by the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, assured stakeholders of the company’s commitment to work […]

February 28, 2024 30

BUSINESS

CBN plans tough sanctions for banks

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has vowed to pursue an aggressive regulatory environment to reduce infractions in the country’s banking system. He said this on Tuesday in Abuja at the Monetary Policy Committee meeting of the apex bank, the first since he assumed office in September 2023. He also stated that an in-depth investigation was underway to determine the necessary actions against banks involved in […]

February 28, 2024 53

BUSINESS

Nigeria to become food exporter through mechanised farming – Tinubu

President Bola Tinubu, on Sunday, said his administration was keen to make Nigeria self-sufficient in food production and become a net exporter of agricultural products through what he called “aggressive mechanisation.” He affirmed his administration’s support to give ease and succour to the 2024 Hajj pilgrims. “Nigeria will become a net exporter of food through aggressive mechanisation,” Tinubu told a delegation from the Global Tijaniyya Movement, led by Khalifa Muhammad […]

February 12, 2024 29

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BUSINESS

Nigeria facing worsening economic crisis, says IMF

The International Monetary Fund has said stalled per-capita growth, poverty and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The report came amid rising inflation, exchange crisis, weak economic growth and business shutdowns. The global lender said this in a new report titled ‘IMF Executive Board Concludes Post Financing Assessment with Nigeria.’ According to the report, low revenue collection has hampered the provision of services and public […]

February 12, 2024 34 1

BUSINESS

Shell supplies 475,000 barrels of crude oil to P’Harcourt refinery

The Shell Petroleum Development Company of Nigeria Limited said it has completed the supply of 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited. The SPDC said this was in furtherance of the Federal Government’s commitment to increase domestic refining capacity and make petroleum products more readily available in the country. A statement by Shell Nigeria’s Media Relations Manager, Abimbola Essien-Nelson, on Monday disclosed that the company, […]

February 12, 2024 35

BUSINESS

Adewole resigns as MD of LivingTrust Mortgage Bank

Mr Adekunle Adewole has resigned as the Managing Director of LivingTrust Mortgage Bank. His resignation was contained in a corporate notice filed with the Nigerian Exchange Limited stating that he voluntarily resigned his position, ahead of the expiration of his tenure. Adewole became the bank MD in May 2020. During his time in office, Adewole supervised the growth in the bank’s Profit Before Tax which rose from N57m in 2019 […]

February 5, 2024 48

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