BUSINESS
Our South-East Branches Are Open, FirstBank Debunks Rumour
FirstBank Nigeria has denied a viral report on Social Media that all its branches in the South-East have been shut down over insecurity. In a statement sent to ABN TV on Wednesday afternoon, the bank denied the report stating that it was fake news. The statement signed by its Group Head, Marketing and Corporate Communications, Folake Ani-Mumuney, read; “This is to...
Rising Cost Of Food Items Pushes 7 Million Persons Into Poverty In Nigeria — World Bank
High inflation driven by soaring food prices has pushed seven million Nigerians into poverty, the World Bank said. In a new report, it commended Nigeria for buttressing its economy from fallout from the coronavirus pandemic but called for urgent measures to brake inflation and protect livelihoods. A major crude exporter, Africa’s largest and most populous economy again slipped into a recession...
Buhari Moves To Lift 100 Million Nigerians Out Of Poverty, Inaugurates Committee
President Muhammadu Buhari has inaugurated the National Steering Committee (NSC) of the National Poverty Reduction with Growth Strategy (NPRGS) to be chaired by the Vice President, Professor Yemi Osinbajo. In his remarks at the event on Tuesday in Abuja, the President reiterated his commitment to lifting 100 million Nigerians out of poverty in 10 years, with a well-researched framework for...
Buhari To Lead 11 African Nations To Negotiate $19bn Soft Loan
The Pan Africa Great Green Wall (PAGGW) countries have appointed President Muhammadu Buhari President of the Heads of States and Government of the PAGGW to facilitate $5bn grant and $14bn soft loans for the agency. The minister of environment, Dr Mohammad Mahmood Abubakar, who disclosed this during the ministerial briefing on recent developments in the environment sector also said the...
Nigeria Makes World Bank List Of 10 Countries With High Debt Risk
The World Bank has stated that Nigeria is among a list of top 10 countries with high debt risk exposure. It stated this in the financial statement for International Development Association, which was among the World Bank FY21 audited financial statements released on Monday. The financial statement said, “IDA faces two types of credit risk: country credit risk and counterparty credit...
Buhari Appoints Steering Committee For Petroleum Act
President Muhammadu Buhari has commenced implementation of the newly signed Petroleum Industry Act (PIA) by approving a steering committee to oversee the process. The steering committee is headed by the Honourable Minister of State, Petroleum Resources, Timipre Sylva. Other members are: Permanent Secretary, Ministry of Petroleum Resources, Group Managing Director, NNPC, Executive Chairman, FIRS, Representative of the Ministry of Justice, Representative...
BEWARE: Criminals Increasingly Using Cryptocurrencies
Criminals in Italy and Germany are increasingly making use of cryptocurrencies, according to the customs directorate in Bonn, Germany. “The use of cryptocurrencies for online payment in the context of criminal offences is clearly on the rise,’’ the directorate said in a recent statement. According to investigators’ findings, in most cases, the perpetrators use Bitcoin and the currency Monero. READ ALSO: Germany...
Yahaya Bello Lauds Buhari For Recognising Kogi As Oil Producing State
Gov. Yahaya Bello of Kogi has expressed the state government’s appreciation to President Muhammadu Buhari recognizing it as one of the Oil-producing states. This is contained in a statement by Mr Onogwu Muhammed, Chief Press Secretary to Bello on Wednesday. ”Gov. Bello conveyed his thank you message to Mr President during his visit to the Presidential Villa, Abuja, on Tuesday. ”Kogi was...
FG Commences Skill Acquisition Training In South-East Zone
The Federal Government has commenced the training of youths and unemployed in the South-East zone, in various Skills as an alternative to white collar jobs. Dr Chris Ngige, the Minister for Labour and Employment, while flagging off the training in Owerri, Imo State capital, noted that Skills education would equip them with self-employment and self-reliant skills that would serve them...
FG To Promote Digital Economy, Inclusive Development
Minister of finance, budget and national planning, Zainab Ahmed has stated that the federal government would promote industrial digital economy, inclusive and economic development. This was announced on Tuesday by Zainab Ahmed at the West Africa Business Forum, themed; “Empowering women and youths to spur Africa’s transformation agenda” in Lagos. She noted that inclusive economic development is a core element of...
