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Top News Stories from Last Week

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Top Stories You May Have Missed from Last Week

FG to shut down online banks pestering debtors

The Federal Government, last week announced plans to delist any #loan application company that continues to harass or threaten its customers. This move was made known by the Federal Competition and Consumer Protection Commission (FCCPC). The agency added that it will instruct #Google to permanently delete such applications from its app store.

This is in reaction to some digital companies continuing to harassment on #Nigerians, with unsolicited text messages and sometimes life-threatening phone calls to customers and their family members or close contacts.

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FG reports a drop in monthly fuel consumption by 18.5m litres after subsidy removal.

The Federal Government last week said that the volume of petrol consumed in Nigeria decreased by an average of about 18.5 million litres daily in June after President Bola #Tinubu announced the removal of fuel #subsidy.

This was according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority in #Abuja According to the regulatory body, the amount of petrol consumed across the country in the first half of 2023 was 11.26 billion litres.

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Centre lauds new executive orders, rejects informal sector VAT proposal

The Centre for Promotion of Private Enterprises (CPPE) last week commended President Bola Tinubu’s recent executive orders on #ValueAddedTax

In a statement on Sunday in Lagos Muda Yusuf, the founder of CPPE said that the president’s move shows that he is sensitive to the predicament of the #manufacturing sector.

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Oil eases ahead of China, US data, but OPEC+ cuts support market

Crude oil prices fell in early Asian trade on Monday as investors exercised caution ahead of fresh economic data from top consumers in the United States and China this week, This development happened as promises of supply cuts from top oil producers #SaudiArabia and #Russia supported the market.

Accordingly, #Brent crude futures fell 22 cents, or 0.3 per cent, to $78.25 a barrel by 0107 GMT, and U.S. West Texas Intermediate crude was at $73.57 a barrel, down 29 cents, or 0.4%.

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