Curfew: “Save Our Livelihood, Means Of Survival In Abia” – De Latinos CEO Urges Govt
An entrepreneur and the CEO De Latinos, a leading hospitality organisation in Abia, Emmanuel Okenini aka Bello has decried the prolonged curfew imposed in various cities of Abia including Aba and Umuahia, saying it is putting their business under existential threat., ABN TV reports. Okeini said at a time when the industry was gradually getting its foot back on the...
Oando, Ecobank Record Price Fall As Nigerian Stock Market Loses N54bn
The Nigerian equities market began trading for the week on Monday still in a negative mood with 0.27 percent loss due to renewed profit-taking. Specifically, the All-Share Index which opened for the week at 38,648.91 shed 103.61 points or 0.27 percent to close at 38,545.30. Accordingly, month-to-date gain moderated to 0.3 percent, while year-to-date loss increased to 4.3 percent. In the...
Nigeria Will Continue To Borrow Responsibly – Senate President Lawan
President of the Senate, Ahmad Lawan, has explained why it is important for the Nigerian government to continue to borrow responsibly to fund critical projects in the country. He believes it is not feasible for the government to tax the people further in the face of the present economic situation and the nation’s infrastructure must be developed. The Senate President made...
Senate Approves Buhari’s $6.1 Billion Loan
The Senate on Wednesday approved a loan request of $6.1 billion by President Muhammadu Buhari, ABN TV reports. The $6.1 billion which is about N2.343trillion was approved following the consideration of the report of the Senate Committee on Local and Foreign Debts at plenary. The Chairman of the committee, Senator Clifford Ordia, presented the report. President Buhari had in May, asked...
Stop Mortgaging Future Of Our Youths, End Borrowing, Moghalu Advises Buhari
Convener of Moghalu4Nigeria Movement (M4N), Prof. Kingsley Moghalu, has deplored Nigeria’s debt exposure, which stood at $32.85 billion by March this year. The former Central Bank of Nigeria (CBN) deputy governor, therefore, advised the Federal Government to urgently “halt this borrowing binge, which is exposing the country to a possible future debt peonage, considering our external debt by 2015 was...
Nigeria’s Inflation Rate Drops To 17.7% In June
Nigeria’s Inflation has yet again fallen to 17.75% as the economy steadily improves. The country’s inflation rate dropped further in the month of June 2021 to 17.75% from 17.93% recorded in May 202!. This represents the third consecutive decline in headline inflation. This is according to the latest consumer price index report, released by the National Bureau of Statistics (NBS). READ ALSO:...
Ogah Seeks Republic of Korea’s Collaboration To Develop Nigerian Mining Sector [PHOTOS]
Minister of State, Mines and Steel Development, Dr. Uchechukwu Sampson Ogah has said that about 44 different minerals in commercial quantities in the country, urging the Republic of Korea to invest in Nigeria's solid minerals sector for the mutual benefit of both countries. The Minister also added that Korea could source raw materials from Nigeria for its manufacturing and technological...
CBN To Supply Forex To Banks Only
The Central Bank of Nigeria, CBN has announced that Forex will only be supplied to banks as all sales to Bureau De Change operators (BDCs) have been discontinued. CBN Governor, Godwin Emefiele made this revelation during a Monetary Policy Committee (MPC) meeting on Tuesday, July 27th. Emefiele disclosed that the apex bank had to make this move because of the suspicious...
Minerals Development: Turkish Ambassador Hosts Uche Ogah
As part of moves to synergize with Nigeria for the development of mineral resources, Ambassador of the Republic of Turkey to Nigeria, H.E, Ambassador Hidayet Bayraktar recently hosted Nigeria's Minister of State for Mines and Steel Development, Dr. Uche Ogah. ABN TV gathered that the minister and his host also discussed Nigeria-Turkish relationship in the Minerals and Metal sector and...
States Government, Not FIRS To Collect VAT – Court Declares
The Federal High Court sitting in Port Harcourt has declared that it is the Rivers State Government and not the Federal Inland Revenue Services (FIRS), that should collect Valued Added Tax (VAT) and Personal Income Tax (PIT) in the State. The court presided over by Justice Stephen Dalyop Pam, has also issued an order of perpetual injunction restraining the Federal...
