BUSINESS
President Buhari Reportedly Set To Extend Validity Of Old Naira Notes Till April 10
President Muhammadu Buhari is reportedly considering extending the validity of old 200, 500 and 1000 naira notes by 60 days. TheCable reports that this is to avoid disobeying the order of the Supreme Court of Nigeria which ruled that the old notes remain valid until it delivers judgment in the case filed by some states against the federal government. The CBN...
Fake Naira Notes In Circulation, CBN Warns Nigerians
The Central Bank of Nigeria(CBN) has warned Nigerians to be wary of counterfeit naira notes in circulation amid reports of currency shortage in the country. In a statement released on Friday titled ‘Beware of Counterfeit Naira Banknotes in Circulation,’ the apex bank advised Deposit Money Banks, Financial Houses, Bureau de Change, and the public to be vigilant and implement necessary...
BREAKING: Abia Hits 1bn Naira In Monthly IGR As Ikpeazu Says Payment Of Workers Not A Problem
Abia State has met her target of hitting the N1bn mark in her internally generated revenue drive for the month of January 2020 thereby significantly raising her revenue profile while also paying the new minimum wage agreed by the Federal Government and Labour to its civil servants without any rancour or hesitation. This much was stated by the State’s Commissioner...
Sir Udensi Urges Patronage, Support To Made-In-Aba Products
Interpol Systems Consultant, Sir Chikwe Udensi has advised Nigerians to be contented with made in Nigeria products. Udensi gave the advice on Saturday while addressing Journalists in Abuja on the 2021 Made-in -Aba Trade Fair, exhibition which has become an important annual feature in the Federal Capital Territory (FCT) business promotion calendar in the country. He told newsmen, that some of...
IMF’s Projection Of Nigeria’s Economic Growth Wrong — Akabueze
The Director-General of the Budget Office of the Federation, Ben Akabueze, says the International Monetary Fund (IMF) has been wrong in its projections of the Nigerian economy in the last four years. Akabueze spoke on the economic projections of the President Bola Tinubu government for 2024. According to him, “In the last four years, IMF has got it wrong about our...
Nigerian Refineries Damaged Beyond Turnaround Maintenance – NNPC
The Nigerian National Petroleum Corporation (NNPC) yesterday attributed the prolonged neglect of overhauling the refineries in the country to the delay in making them functional. It declared the refineries as damaged beyond the usual Turnaround Maintenance (TAM). However, to revamp them, the national oil is embarking upon total rehabilitation of the plants, which despite currently being non-functional, gulp about N10 billion...
NDIC Lists Heritage Bank’s Head Office For Sale
The Nigeria Deposit Insurance Corporation has listed the head office in Lagos and branches of failed Heritage Bank across the country for sale in its role as liquidator of the bank. NDIC announced the sale of the bank properties numbering 48 and its chattel including vehicles, office equipment, plant, and machinery in another 62 locations across the country in an...
Economic Diversification With Focus On Non-Oil Exports Is On Course – Osinbajo
The Vice President, Professor Yemi Osinbajo, believes Nigeria is on the right path to economic diversification focusing on non-oil exports, with the zero-oil plan actively promoted by the Nigerian Export Promotion Council (NEPC). Professor Osinbajo stated this on Thursday when he received a delegation from the NEPC led by its outgoing Executive Director/CEO, Mr Segun Awolowo. “We are set on the...
CBN Seeks Governors’ Support On Monetary Policy Reforms
The Central Bank of Nigeria (CBN) has called for the support of state governors across the federation for its ongoing monetary policy reforms, aimed at restoring macroeconomic stability and rebuilding investor confidence in the Nigerian economy. This was contained in a communiqué issued at the end of the Nigeria Governors’ Forum (NGF) meeting held on Thursday in Abuja. According to the...
BREAKING: Banks Reach Agreement To Halt Staff Sack
The bankers' committee of the Central Bank of Nigeria (CBN), has agreed that plans to lay off staff would be suspended. This was announced in a statement signed by Isaac Okorafor, Director, Corporate Communications said the CBN, Bankers’ Committee both decided to suspend lay-offs in banks. Also Read: Banks In Abuja, Lagos, Others To Open From Monday Access Bank has been trending...
