Business Archives - Page 5 of 32 - Independent Digital News Network

NAFDAC Denies FG Order Suspending Sachet Alcohol Ban, Calls Reports Misleading

The National Agency for Food and Drug Administration and Control (NAFDAC) has denied reports that the Federal Government suspended its sachet alcohol ban, describing circulating claims as misleading. The agency clarified that regulatory timelines remain unchanged and urged the public to rely only on official communications regarding enforcement decisions.

Arik Air Flight Returns to Lagos After Engine Anomaly, NSIB Opens Probe

IDNN4 months ago4 months ago0

An Arik Air engine anomaly forced a flight to return to Lagos shortly after takeoff, prompting a safety investigation by the Nigerian Safety Investigation Bureau (NSIB). The aircraft landed safely with no reported injuries, while regulators confirmed that standard aviation protocols were activated immediately.

Electricity Workers Issue 21-Day Strike Notice Over NESI Wage and Pension Dispute

IDNN4 months ago4 months ago0

Electricity workers have issued a 21-day strike notice over unresolved wage and pension claims within Nigeria’s power sector. The electricity workers strike notice affects operators across the Nigerian Electricity Supply Industry (NESI) and could disrupt national power supply if negotiations fail before the deadline.

NAFDAC Uncovers ₦3bn Fake Drug Syndicate in Lagos, Seizes Over 10 Million Doses

IDNN4 months ago4 months ago0

Nigeria’s drug regulator has uncovered one of the largest counterfeit medicine operations in recent years, seizing over 10 million fake and banned drug doses worth more than ₦3 billion in Lagos. The bust exposes a sophisticated international syndicate cloning life-saving medicines and pushing them into local markets, raising fresh alarms about public health safety and regulatory enforcement.

IMF Growth List Sparks Debate After Elon Musk Reacts to Nigeria Ranking

IDNN4 months ago4 months ago0

Nigeria’s inclusion on an International Monetary Fund list of top global growth contributors has triggered online debate after billionaire Elon Musk reacted to the ranking. While the IMF data reflects projected contributions to global growth, economists caution that headline figures often mask domestic pressures, turning the spotlight on how global metrics intersect with local realities.

Oshiomhole Says Viral Private Jet Clip Is AI-Generated

IDNN4 months ago4 months ago0

Former Edo State governor Adams Oshiomhole has dismissed a viral private-jet clip circulating online as an AI-generated fabrication, rejecting allegations implied by the footage. The claim has intensified scrutiny of manipulated media, as observers weigh the responsibilities of platforms, the speed of online amplification and the difficulty of verifying content in high-profile political disputes.

World Bank Praises Nigeria’s Reform Consistency as Tinubu Says ‘No Turning Back’

IDNN4 months ago4 months ago0

The World Bank has commended Nigeria for maintaining consistency in its ongoing economic reforms, while President Bola Tinubu reaffirmed his administration’s commitment to staying the course despite short-term pressures. The remarks come as the government pushes fiscal and monetary adjustments aimed at stabilisation, investor confidence and long-term growth.

What Emefiele Told Buhari: Memo Reveals Naira Redesign Approval Trail

IDNN4 months ago4 months ago0

A memo submitted by former Central Bank Governor Godwin Emefiele to then President Muhammadu Buhari has surfaced, outlining the approval process behind Nigeria’s controversial naira redesign. The document, now cited in court proceedings, traces institutional consent at the highest level and intensifies scrutiny of responsibility, due process, and the legal weight of executive approval in one of Nigeria’s most disruptive monetary decisions.

FCT Strike Ends as NLC, TUC Direct Workers to Resume

IDNN4 months ago4 months ago0

The industrial action that paralysed parts of the Federal Capital Territory has ended after the Nigeria Labour Congress and the Trade Union Congress directed workers to resume duties. The decision followed negotiations with the FCT Administration, raising expectations of restored public services while shifting attention to whether agreed terms will be implemented beyond the immediate return to work.

FG to Share Electricity Subsidy Burden With States From 2026

IDNN4 months ago4 months ago0

The Federal Government has announced plans to share electricity subsidy costs with state and local governments from 2026, ending the long-standing practice of carrying the burden alone. Officials say the move is aimed at transparency and fiscal discipline, as Nigeria grapples with mounting power-sector debt and seeks to stabilise an electricity market strained by unpaid subsidies.