The nationwide protests have forced commercial banks and other companies to halt operations.The demonstrators are demanding a reversal of the petrol subsidy removal policy implemented by President Bola Tinubu, and believed to be one of the policies that engendered hardship in the country.his support for the implementation of the federal government’s windfall tax on the foreign exchange gains of banks.
On his part, Tony Elumelu, chairman of the United Bank of Africa , also backed the federal government’s windfall tax policy, saying the movethe windfall tax on banks’ FX gains to 70 percent — from the proposed 50 percent — in the amended Finance Act of 2024.The agency said the decision was a sequel to an order by a federal high court.
Between July 27 and July 29, many Nigerians were unable to access their phone lines due to their “inability to verify” the linkage of “their national identification numbers with their subscriber identification modules ”. Reuters recently reported that Mele Kyari, group chief executive officer of NNPC, was in talks for a new oil-backed loan to finance the firm’s operations.The Federal Competition and Consumer Protection Commission says WhatsApp’s threat to exit the country in response to a $220 million fine is a strategy to influence public opinion.