THE CABLE
Here are the seven top business stories you need to track this week — July 24 to July 28.
CBN TO HOLD MPC MEETING
The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) will meet to decide on key lending rates on July 24 and July 25, respectively.
This would be the first time the committee would assemble to deliberate on critical economic issues without Godwin Emefiele, who was suspended as the CBN governor last month.
The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within the economy is built on it.
In May 2023, the committee raised the interest rate from 18 percent to 18.5 percent, as inflation surged to 22.79 percent.
TWITTER TO REPLACE BIRD LOGO WITH ‘X’
Elon Musk, owner and chief executive officer of Twitter, said he would change the logo of the social media platform to an “X”, from the famous bluebird.
The change in the Twitter logo marks a major alteration since he bought the social media platform.
In a series of posts on his Twitter account, Musk said he is looking to effect the change worldwide as soon as Monday.
“And soon we shall bid adieu to the Twitter brand and, gradually, all the birds,” Musk tweeted.
NCAA TO PROBE CONTAMINATION OF AIRCRAFT FUEL TANKS
The Nigeria Civil Aviation Authority (NCAA) says it would intensify its investigation to establish the root cause of contamination in the fuel tanks of some aircraft.
Musa Nuhu, NCAA director-general, spoke during a meeting with all domestic/international operators, aviation fuel suppliers, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja on Thursday.
According to Nuhu, the authority began the investigation due to the recent incident of a safety breach where water was found in the fuel tanks of some aircraft in the country.
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