Microsoft is facing a £1.7 billion class action lawsuit in the United Kingdom over claims that it exploited its dominant market position to overcharge businesses. The case was filed by Maria Luisa Stasi on behalf of roughly 59,000 UK businesses and organisations. At the heart of the lawsuit are allegations that Microsoft imposed higher fees…
The Federal Competition and Consumer Protection Commission (FCCPC) has clarified that it has not banned airtime or data borrowing services in Nigeria. The clarification comes after MTN Nigeria suspended its “Xtratime” service, citing compliance with the Digital, Electronic, Online or Non-Traditional (DEON) consumer lending regulations introduced in 2025. According to the commission, the DEON framework—launched…
The Corporate Affairs Commission (CAC) has announced a temporary suspension of its company registration portal. The commission disclosed this in a statement shared on its X account, following confirmation of a cyberattack on its database that affected millions of data records in Nigeria. According to the CAC, the portal will be unavailable for three days,…
The Central Bank of Nigeria (CBN) has proposed setting up a mediation panel to handle loan-related disputes, with the aim of reducing dependence on courts in secured lending cases. The proposal was detailed in a circular signed by P. I. Oluikpe, Acting Director of the Development Finance Advisory Department, which invited stakeholders to…
Nigeria’s crude oil output recorded a slight rebound in March 2026, rising to 1.38 million barrels per day (bpd), according to the latest report by Organization of the Petroleum Exporting Countries. The figure, based on official data submitted by Nigerian authorities, marks a 5.25 percent increase from the 1.31 million bpd produced in February. Despite…
Stefano Gabbana has stepped down as chairman of Dolce & Gabbana, though he will remain active in shaping the brand’s creative direction. The company confirmed that the 63-year-old left his corporate roles effective January 1, describing the decision as part of a broader shift in its organisational and governance structure. In a statement, the move…
The Trade Union Congress of Nigeria (TUC) has warned that the price of Premium Motor Spirit (PMS), commonly known as petrol, could rise to nearly ₦2,000 per litre if urgent steps are not taken to address the impact of soaring global crude oil prices and the weakening naira. Speaking to journalists on Thursday, April…
The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing of Individual annual tax returns by two weeks, from April 1 to April 14, 2026. LIRS announced the extension on Monday, March 30, in a press statement signed by the Head, Corporate Communications, Monsurat Amasa-Oyelude. Amasa-Oyelude quoted the Executive Chairman of LIRS, Dr. Ayodele…
Amid persistently high petrol prices across Nigeria—despite the availability of domestic refining—management of Dangote Refinery has said the expected relief from local production is being undermined by global market pressures, particularly tensions in the Middle East. Speaking in an interview on Arise Television, the refinery’s Managing Director, David Bird, explained that fuel pricing remains tied…
The Nigerian naira edged lower to N1,383.5/$ on Tuesday, slipping slightly from N1,383/$ recorded the previous day, as falling external reserves and cautious global sentiment continued to weigh on the currency. Figures from the Central Bank of Nigeria showed the naira traded between N1,372/$ and N1,389/$ خلال the session. The mild depreciation reflects sustained…
