BUSINESS
Every Fund In Dormant Accounts Should Be Sent To Us, CBN Tells Banks
The Central Bank of Nigeria (CBN) has directed all banks and other financial institutions to transfer funds in all dormant accounts to the apex bank. A circular by CBN Ag. Director of Financial Policy and Regulations, Mr. John Onoja, last night indicated that accounts that have remained dormant for 10 years and above would be affected. It said, “The provisions of...
Tinubu Writes National Assembly, Wants 2024 Budget Increased By ₦6.2tn
President Bola Tinubu, on Wednesday, requested the Senate to amend the 2024 Appropriation Act and the 2023 Finance Act by increasing the budget with ₦6.2tn. Tinubu’s request was contained in a letter addressed to the President of the Senate, Godswill Akpabio, and read at plenary on Wednesday. The President in the letter, said the move was pursuant to Section 58, sub-section...
No Going Back On Commencement Of Crude Refining At Port Harcourt Refinery In Aug, NNPC Vows
The Nigerian National Petroleum Company Limited (NNPCL), has reaffirmed its preparedness to commence crude oil refining at the Port Harcourt refinery in early August. This was revealed by the NNPCL Group Chief Executive Officer, Mele Kyari, on Monday while addressing an emergency session at the National Assembly joint committee on finance. Kyari explained that the Port Harcourt refinery will kick off...
I Live In A Rented Apartment In Abuja – Dangote
Mr Aliko Dangote, Africa’s richest man has said the house he stays whenever he is in Nigeria’s capital city is not his personal property. During a media parley at the Dangote Petroleum Refinery, Ibeju-Lekki, Lagos State, on Sunday, Dangote said his passion for an industrialized Nigeria is the sole reason he doesn’t have houses outside Nigeria. He revealed that he once...
Gov. Otti, Fulfills Campaign Promise With N1Billion Loan Scheme, Bus Donation (Photos, Video)
Abia State Governor Alex Otti has fulfilled a key campaign promise by launching a N1 billion interest-free revolving loan scheme to empower 10,000 nano and small-scale business owners across the state's 184 wards. The event which took place on Thursday at the International Conference Center (ICC) Umuahia. https://youtube.com/live/ZRXrQHjyOx8 This initiative is expected to provide a significant boost to the local economy and support...
In 180 Days, Food Prices Will Crash, FG Assures Nigerians
As Nigerians hit the streets to protest hunger, the Minister of Agriculture and Food Security, Sen Abubakar Kyari, Wednesday, disclosed that in 180 days food prices will crash. Kyari stated this on his X (formerly Twitter) handle, where he unveiled measures that will be implemented over the next 180 days. He said: “Our administration has unveiled a series of strategic measures...
After Tinubu Announced Plan To Create Livestock Ministry, NRC Says Movement Of Cows By Train Will Soon Commence
The Nigerian Railway Corporation (NRC) says herders and traders can soon move their cows from northern Nigeria to the country’s southern region using rail services. NRC Managing Director, Fidet Okhiria, disclosed this on Channels Television’s The Morning Brief breakfast show on Wednesday, hours after President Bola Tinubu announced the creation of a new ministry for livestock development. He said the movement...
9,200 Abians To Benefit From Gov. Otti’s N1bn Interest Free Loan
Abia state government would on Thursday, launch a N1 billion interest free revolving loan under the Abia cooperatives scheme for 9,200 residents from the 184 wards of the state. Commissioner for Information and Culture, Prince Okey Kanu,who disclosed this at Government House , Umuahia while briefing journalists, explained that 50 beneficiaries have been selected from each of the 184 wards...
Logistics, Flooding Responsible For Latest Fuel Scarcity, NNPC Tells Nigerians
The Nigerian Nigerian Petroleum Company Limited (NNPCL), has blamed resurfacing of fuel queues in some parts of the country on the disruption of ship-to-ship (STS) transfer of Premium Motor Spirit (PMS), also known as petrol, between Mother Vessels and Daughter Vessels resulting from recent thunderstorm. A statement by the company’s Chief Corporate Communications Officer, Olufemi Soneye, on Monday, said the...
ECOWAS Nations Set To Launch Single Currency ECO
Finance Ministers and Central Bank Governors from the 15 Economic Community of West African States (ECOWAS) have advanced plans to launch the single currency initiative, known as the ECO. This initiative envisioned to propel economic growth and development throughout the West African sub-region, received Nigeria’s endorsement. The single currency is part of the features in the three-in-one Identity cards planned by...
