BUSINESS
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...
Nigeria, Kuwait Reach Agreement To Commence Direct Flights
The Nigerian government has signed a Bilateral Air Services Agreement (BASA) with Kuwait for the commencement of direct flights. This was disclosed by the Minister of Aviation and Aerospace Development, Festus Keyamo, on his X handle (formerly Twitter). BASA is an air transport agreement between two countries that allows designated airlines to operate commercial flights, covering the transportation of passengers and...
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...
COP28: Delegation Of 1,411 From Nigeria A Waste Of Resources — Obi
The 2023 presidential candidate of the Labour Party (LP), Peter Obi, on Sunday, faulted the number of Nigeria’s delegation at the COP28 Climate Summit in Dubai, the United Arab Emirates (UAE). President Bola Tinubu had on November 29, 2023 departed Abuja for Dubai for the summit expected to end December 12, 2023. In a post on X (formerly Twitter), the ex-governor...
Kano Governor, Yusuf Clears N6b Gratuity Of 5,500 Retirees
Governor Abba Kabir Yusuf of Kano State, on Saturday, commenced the payment of N6 billion gratuities and death benefits to 5,500 pensioners across the state. The governor inaugurated the payment at a grand ceremony held at the Coronation Hall, Government House in Kano on Saturday. Speaking at the event, Governor Yusuf said the gesture was part of his campaign promises aimed...
Tinubu Says 100 Electric Buses Will Hit Nigerian Roads To Enhance Eco-friendly Future
Nigeria will rollout 100 electric buses in a step towards a sustainable and eco-friendly future, President Bola Tinubu said Saturday. The “pioneering initiative” is to “significantly” reduce Nigeria’s carbon footprint and modernise the country’s transportation systems,” Tinubu said in Dubai, United Arab Emirates, on the margins of the COP28 climate summit. ”This initiative stands as a testament to our dedication to...
Minister Seeks Soft Repayment Of Mortgage Loans
The Minister of Housing and Urban Development, Ahmed Dangiwa, has urged mortgage banks to adopt rent-to-own mortgage options and flexible monthly mortgage loan repayments as strategies to develop innovative mortgage products and make commercial loans more affordable. He also urged all bank CEOs to ensure that Nigerians within the low and medium-income segments have access to affordable mortgages. According to him,...
CBN Sets Date To Freeze Accounts Without BVN
The Central Bank of Nigeria has directed a “Post no Debit” restriction on all bank accounts without Bank Verification Number and National Identification Number effective April 2024. “Post No Debit” is a term used to describe a restriction imposed by banks on specific accounts, preventing customers from making withdrawals, transfers, or any other debits from their accounts. This measure effectively freezes...
Lagos Releases 20,000 Bags Of Eko Rice, Tags 50kg At N43k, 25kg For N22k
Lagos State Government has concluded plans to release additional 20,000 bags of Eko Rice for distribution to various designated markets for the period of Yuletide in the month of December. The state government, while saying that 20, 000 bags had earlier been released in the month of November, added that the number represent 10 per cent of total requirement of...
Osun Workers To Get N15,000 Wage Award, Pensioners N10,000 As Subsidy Removal Effects Bite
As part of measures to cushion the harsh effects of fuel subsidy removal, the Osun State Governor, Ademola Adeleke, has approved a sum of N15,000 wage award per worker in the state. The governor also approved a sum of N10,000 for each pensioner in the state in the same regard. This was disclosed on Wednesday in a circular by the Permanent...
