Category: BUSINESS

Dangote Cuts Petrol Price to N899.50 As the festive season approaches, the news of a petrol price reduction by Dangote Refinery has brought relief to many Nigerians. On December 19, 2024, the company announced a significant cut in the price of Premium Motor Spirit (PMS), commonly known as petrol, from N970 to N899.50 per litre. This decision not only reflects the complex dynamics of market forces but also aims to alleviate the financial burden on consumers during a period traditionally marked by increased transportation costs. CBN Sets N100,000 Daily Withdrawal Limit for PoS Transactions The Context of the Price Reduction...

CBN Sets N100,000 Daily Withdrawal Limit on PoS Transactions The Central Bank of Nigeria (CBN) has recently made headlines with its new policy imposing a N100,000 daily withdrawal limit on Point-of-Sale (PoS) transactions. This decision is part of a broader initiative to promote a cashless economy, enhance financial security, and curb fraudulent activities. In this article, we’ll explore what this means for consumers and businesses alike, and how you can adapt to these changes Understanding the CBN PoS Withdrawal Limits As of now, the CBN has set a daily limit of N100,000 for individual customers using PoS terminals. This means that regardless of how...

What is Driving the Rising Inflation Rate in the UK? The economic landscape in the UK is currently under scrutiny as inflation rates have surged to 2.6% in November 2024, marking the highest level since March. This rise is primarily attributed to increased costs in petrol and clothing, significantly impacting the cost of living for many families across the nation. As discussions about the effectiveness of current government policies heat up, the keyword “UK” has become a hot topic among economists and everyday citizens alike. Key Factors Behind the Recent Inflation Surge According to the latest data from the Office for National Statistics...