BUSINESS
Senate Passes NYSC Trust Fund Bill Into Law
A bill seeking to establish the National Youth Service Corps (NYSC) Trust Fund, has been passed into law on the floor of the Senate. Sponsored by a senator, representing Ekiti South and Chairman, Senate Committee on Media and Public Affairs, Yemi Adaramodu, the bill, among others, seeks to provide a sustainable source of funds for the NYSC, skill acquisition, training and...
Zenith Bank Appoints First Female GMD
Zenith Bank has named Adaora Umeoji as its first female Group Managing Director/Chief Executive. Her appointment, subject to the approval of the Central Bank of Nigeria, takes effect from June 1, 2024, according to the bank. “She takes over from Dr. Ebenezer Onyeagwu, whose five-year term expires on May 31, 2024, after a very successful tenure. Dame (Dr.) Adaora Umeoji is...
VIDEO: We’re Financially Enlightened Govt, Not Jumping At Any Loan — Gov. Otti
Abia State Governor, Dr. Alex Otti has described his administration as financially enlightened, noting that it is not interested in jumping at any loan that comes its way. The governor in an interaction with journalists in Umuahia said the state has been receiving offers for loan from commercial banks within but has not drawn on any of them. https://youtu.be/aUsiS8NN7mI He further revealed...
Port Harcourt Refinery To Commence Operation In Two Week, Kyari Assures
The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation Ltd (NNPCL), Mele Kyari, has said the Port Harcourt refinery will commence operations in two weeks time. Kyari, who appeared before Senate ad-hoc committee investigating the various Turn Around Maintenance (TAM) Projects of the Nigerian Refineries, said over 450, 000 barrels of oil had been stocked into the Port...
Otti Orders Withdrawal Tax Suit Against MOUAU
The Abia State government has promised to withdraw the suit it instituted against the Michael Okpara University of Agriculture, Umudike, MOUAU, over alleged non-remittance of Pay As You Earn, PAYE, tax, to the state. The state Board of Internal Revenue, BIR, had two years ago, filed a suit against the University over alleged unremitted PAYE tax. Governor Alex Otti, who pledged...
Bitcoin Sets New Record Above $71,000
Bitcoin hit a fresh record above $71,000 on Monday as demand for the cryptocurrency picks up amid optimism that the Federal Reserve will cut interest rates this year. The unit hit a peak of $71,432 in afternoon Asian business, according to Bloomberg data, meaning it has advanced almost 70 percent this year. The rally was helped by news that Britain’s Financial...
Binance To Depart Nigerian Market, Ends Services In Local Currency
Binance will discontinue all services for Nigeria’s fiat currency, the naira, amid an ongoing regulatory conflict in the country. The crypto exchange will automatically convert naira balances to USDT from March 8 at 8:00 a.m. UTC but will cease support for NGN deposits after 14:00 UTC today. Withdrawals will become unsupported after March 8 at 6:00 a.m. UTC. Posting on its...
EFCC Accuses Banks Of Aiding 70% Of Financial Crimes
The Economic and Financial Crimes Commission, on Monday, indicted banks as being linked to about 70 per cent of the financial crimes in Nigeria. EFCC’s Chairman, Ola Olukayode, disclosed this while speaking in Abuja at the 2023 Annual Retreat and General Meeting of the Association of Chief Audit Executives of Banks in Nigeria. He pointed out that the banking sector was...
Adopt Zimbabwe’s Style To Curb Inflation, Obasanjo Urges FG
Former President Olusegun Obasanjo has advised the Federal Government to adopt the Zimbabwean model to weather the current storm of galloping inflation. He made the call at a Youth leadership symposium with the theme “Opportunities for Peace: Roles of The Youths in Conflict Prevention in Africa” held at Olusegun Obasanjo Presidential Library in Abeokuta, the state capital, as part of...
Ramadan: Emir Of Kano Urges Traders To Reduce Prices Of Items
The Emir of Kano, Alhaji Aminu Ado-Bayero, has appealed to traders of essential commodities to reduce the cost of foodstuffs and other goods to enable the masses to observe Ramadan with relative ease. The Royal father made the call on Sunday in Zaria during the lunch of a book titled: “Dauloli a Kasar Hausa” meaning ‘Kingdoms in Hausaland’ by Prof....
