Business Archives - Page 17 of 33 - Independent Digital News Network

Nigeria inflation rate cut likely as MPC meets after fifth month of decline

By IDNN Economy Desk Nigeria’s inflation slowed for a fifth consecutive month in August, dropping to 20.12% from 21.88% in July, according to the NBS....

Microsoft seizes 330 Nigeria phishing websites in global cybercrime bust

IDNN12 months ago12 months ago0

Microsoft has shut down 330 websites tied to a Nigerian phishing ring, accusing the network of stealing over 5,000 user credentials worldwide.

Dangote DAPPMAN subsidy dispute deepens as refinery dares marketers to go to court

IDNNSep 20, 202520.09.20250

Dangote Refinery has challenged petroleum marketers to seek legal redress over subsidy demands, rejecting calls for a ₦1.5trn intervention to balance fuel prices.

CBN naira abuse warning: Cardoso urges Nigerians to keep currency clean

IDNNSep 20, 202520.09.20250

The Central Bank of Nigeria has warned against spraying, hawking, or mutilating the naira, calling it a national symbol that must be treated with respect.

Court Halts NUPENG Strike, Shields Dangote Refinery from Shutdown

IDNNSep 18, 202518.09.20250

The National Industrial Court has issued an interim order restraining NUPENG and truck drivers from disrupting operations at Dangote Refinery. The ruling follows growing tensions over workers’ rights and allegations of anti-labour practices. Justice E.D. Subilim said irreparable harm could occur if refinery activities were crippled, a decision welcomed by Dangote’s legal team.

Lagos Inferno: Afriland Tower Fire Claims Seven Lives, FIRS and UBA Staff Among Dead

IDNNSep 18, 202518.09.20250

Seven lives were lost in the Afriland Tower fire on Lagos Island, including four Federal Inland Revenue Service staff and unnamed UBA employees. The Tuesday blaze forced desperate escapes, left dozens injured, and paralysed Broad Street. Billionaire Tony Elumelu cut short his U.S. trip to mourn, as questions mount over Nigeria’s urban fire safety.

Nigeria Suspends 4% Import Levy After Industry Backlash

IDNNSep 17, 202517.09.20250

Nigeria’s finance ministry has suspended a 4% levy on imports after fierce opposition from businesses and industry groups. Finance Minister Wale Edun said the policy, introduced by the Nigeria Customs Service, threatened trade facilitation, economic stability, and competitiveness. Airline operators and manufacturers welcomed the decision, calling it proof of government’s responsiveness

Dangote Declares End to Nigeria’s 50-Year Battle with Fuel Queues

IDNNSep 17, 202517.09.20250

Aliko Dangote says Nigeria’s five-decade struggle with petrol scarcity has ended following one year of operations at his 650,000-bpd refinery. At an anniversary briefing, he said pump prices had dropped to ₦841 per litre, while 4,000 new CNG trucks will cut costs and create 24,000 jobs. Dangote vowed to expand capacity to 700,000 barrels daily.

Tinubu: NIN-SIM Linkage Reduces Fraud, Boosts Security

IDNNSep 17, 202517.09.20250

President Bola Tinubu says the linkage of National Identification Numbers with SIM cards has drastically reduced fraud and boosted national security. Speaking at Nigeria’s Identity Day, he described digital identity as the “foundation of citizenship” and pledged to enforce its mandatory use across sectors. Officials say 126m Nigerians are now enrolled in the NIN database.

⚡ Nigeria Power Grid Collapse Sparks Fresh Questions over Energy Oversight

IDNNSep 11, 202511.09.20250

Nigeria’s national electricity grid suffered a major collapse overnight, plunging large parts of the country into darkness and reigniting debate over regulatory oversight and chronic infrastructure failures