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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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Failed Transactions: CBN Refunds N115.45b To Customers

By Favour & Akinola Ajibade


The Central Bank of Nigeria,CBN says it has  refunded customers to the tune of N115.45 billion in this country.

This follows decision by the apex banking regulatory body to resolve 33,437 cases  out of 35, 453 discovered in the industry.

Speaking on the issue recently, Mr Elachi Samuel of the Consumer Protection Department,CBN, urged stakeholders, including farmers to make use of an alternative payment channels in order to enable it reduce problems relating to banking transactions greatly in the future. 

This, Elachi said, would help in bridging the gap of Nigerians who outside banking industry and further deepening financial inclusion system in Nigeria. 

While enlightening stakeholders in Abuja, he implored farmer associations to embrace the e-Naira policy which is being  implemented in the country. 

He further said that the rights and responsibilities of financial consumer, particularly in chosen banks’ products, resolving failed bank transactions and disclosure of details, are necessary in developing the sector.

He noted: “It is within your right to receive transaction history on your mail to know how much you’re being charged. This will allow you to know that you’re not shortchanged and cheated. Financial consumers must know that they have the right to report their banks to the CBN over unresolved failed transactions.

“If you report the problem to us, we will look at the issues and ensure that we do justice. Between May 20, 2013 and May 20, 2023, we were able to refund N115.45 billion of failed bank transactions.We have received 35,453 complaints. We resolved 33,437″.

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