1. CIBN grows revenue by 16% to N2.06 billion
The Chartered Institute of Bankers of Nigeria has reported a 16.9 per cent increase in revenue to N2.06 billion in 2022 from N1.76 billion in 2021. The Institute also stated that its net assets and net operating surplus will increase by 7.3 per cent and 4.9 per cent, respectively, to N6.66 billion and N837.94 million in 2022… Read more
Source: https://punchng.com/cibn-grows-revenue-by-16-to-n2-06-billion/
2. Sign energy commission amendment bill, PENGASSAN urges Buhari
The Petroleum and Natural Gas Senior Staff Association of Nigeria, on Friday, appealed to the President, Major General Muhammadu Buhari (retd.), to as a matter of urgency, assent to the Energy Commission of Nigeria Amendment Bill, 2022, before handing over to the incoming administration on May 29, 2023… Read more
Source: https://punchng.com/sign-energy-commission-amendment-bill-pengassan-urges-buhari/
3. Inflation driving 64 million Nigerians into food crisis – World Bank
At least 64 million Nigerians are at risk of emergency food and nutritional assistance due to the attendant effects of rising inflation, climate change, among others, according to the World Bank… Read more
Source: https://punchng.com/inflation-driving-64-million-nigerians-into-food-crisis-world-bank/
4. Firms collaborate for crude oil transportation
Petralon 54 Limited, a firm licensed to carry out exploration, production and disposal of hydrocarbons, has said it engaged Barge FP Amangwu to barge legally produced and government-authorised crude oil…Read more
Source: https://punchng.com/firms-collaborate-for-crude-oil-transportation/
5. FAAN to manage Gombe airport
The Federal Airport Authority of Nigeria has taken over the operations of Gombe airport. Disclosing this shortly after undertaking an inspection of major areas of the airport, the Managing Director of FAAN, Captain Rabiu Yadudu, said the visit had heralded the smooth takeover of its operations… Read more
Source: https://punchng.com/faan-to-manage-gombe-airport/
6. Foreign transactions on capital market dip by 75% in eight years
Market uncertainty, political risk and foreign exchange (FX) illiquidity and other headwinds have triggered an unprecedented drop in foreign appetite for the Nigerian capital market as total foreign transactions executed on the equities market declined by about 75 per cent in the last eight years… Read more
7. Thousands of Amazon staffers are pouring into its Seattle offices. Will it restore the downtown’s fortunes?
Wang’s truck is located on the corner of 6th Avenue and Lenora Street, the shiny heart of what some here playfully call “Amazonia”, after Amazon, the largest employer in the downtown area. And the extra customers that he and similar outlets are scrambling to serve are some of the 55,000 employees Amazon ordered to return to the office to work at least three days a week starting in May… Read more
8. Central banks ‘risk losing trust if they cannot tame inflation’
Central banks risk losing public trust if they fail to bring down high rates of inflation found across the developed world, according to the boss of the body that advises them… Read more
9. Disney cancels plans for $1bn campus in Florida amid battle with DeSantis
Disney has scrapped plans to build a near $1bn (£804m) corporate campus for 2,000 employees in Florida, amid an increasingly bitter political and legal battle with the state’s governor, Ron DeSantis, over the future of the entertainment giant’s theme parks… Read more
Source: https://www.theguardian.com/film/2023/may/20/disney-cancels-1bn-florida-campus-2000-jobs
10. Nike could be fined over $530m for misclassifying thousands of workers
The sporting goods company employs more than 79,000 people worldwide, and, like many large corporations, relies on an army of independent contractors to do much of the work, including business consulting, T-shirt graphics, photography and event planning… Read more
Source: https://www.theguardian.com/business/2023/may/18/nike-tax-fines-temporary-workers
