August 7, 2025

Business

Business Health

NAFDAC Destroys N1tn Worth of Fake Drugs in Anambra Crackdown

The National Agency for Food and Drug Administration and Control (NAFDAC) has destroyed counterfeit, substandard, and expired pharmaceutical products worth over one trillion naira in Anambra State. The destruction took place on Friday at the Anambra State Waste Management Authority Dump Site in Agu Awka, Awka South Local Government Area. Speaking at the event, NAFDAC

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Business

FCMB Opens New Branch to Boost Local Economy

First City Monument Bank (FCMB) has expanded its presence with the opening of a new branch in Ogbomoso, a move aimed at boosting financial inclusion and supporting local economic growth. The newly launched branch, situated along the Ogbomoso-Ilorin road, was inaugurated on March 12, 2025, in a ceremony attended by local leaders, the bank confirmed

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Business

$193,000 Hidden in Yoghurt Carton Intercepted at Abuja Airport March 22, 2025

A sum of $193,000 in cash, concealed inside a carton of yoghurt, has been intercepted by the Nigeria Customs Service (NCS) at the Nnamdi Azikiwe International Airport, Abuja. The National Public Relations Officer of the service, Abdullahi Maiwada, confirmed in a statement on Friday that the interception was made by officers of the Federal Capital

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Business

Naira-for-Crude Crisis: Petrol Imports Surge to 154 Million Litres Weekly.

Seven vessels carrying Premium Motor Spirit (PMS), commonly known as petrol, are expected to arrive at Nigerian seaports between Monday, March 17, and Sunday, March 23, as efforts continue to stabilize fuel supply across the country. According to a document obtained from the Nigerian Ports Authority (NPA) on Thursday, these vessels will deliver a combined

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Business

Apple TV+ Loses Over $1bn Annually.

Apple Inc. is reportedly losing more than $1 billion per year on its streaming service, Apple TV+, according to a recent report by The Information. The report revealed that Apple has been spending over $5 billion annually on content since launching Apple TV+ in 2019. However, the company reduced this expenditure by approximately $500 million

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Business Politics

National Assembly Urged to Exclude VAT from Tax Bills

The Nigerian National Assembly has been urged to exclude Value Added Tax (VAT) from the proposed tax legislation to allow for more flexible amendments in the future. The proposed tax bill, titled An Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation and Enact the Nigeria Tax Act to

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Business

Nigeria and Canada Enhance Aviation Collaboration with Code-Sharing Agreement

The Nigerian and Canadian governments have officially signed a code-sharing agreement aimed at enhancing connectivity and efficiency within the aviation industry. This initiative is expected to provide passengers with more travel options and improve operational flexibility for airlines in both countries. The announcement was made by Gbenga Saka, Special Adviser on Digital Media to the

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Business

Customs Intercepts $578,000 Undeclared Cash at Lagos Airport.

The Nigeria Customs Service (NCS), Murtala Muhammed International Airport Command, has intercepted $578,000 in undeclared cash from an inbound passenger arriving from South Africa. John Harrison, the Customs Area Controller, disclosed this to journalists at the command’s headquarters on Friday. He stated that the suspect, Okorie Sunday, arrived in Nigeria on Wednesday, March 19, 2025,

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Business

Shettima Urges Lawmakers to Prioritize Legislation for Better Nutrition and Food Security

Vice-President Kashim Shettima has called on lawmakers to enact policies that will enhance nutrition and food security across Nigeria, emphasizing the need for government-led solutions to address malnutrition. Shettima made the call on Wednesday while hosting members of the National Legislative Network on Nutrition and Food Security at the Presidential Villa, Abuja. The delegation was

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Business

Air Peace Announces Significant Airfare Reductions on London-Lagos Route.

Air Peace has introduced a special offer for travelers flying between London and Lagos, providing fare reductions of up to N600,000 and an additional luggage allowance. The airline made this announcement in a statement on Wednesday, highlighting that the promo will run until March 31, 2025, with an extended travel period until April 15, 2025.

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