BUSINESS
Ganduje Talks Tough, Says Banks Rejecting Old Naira Notes Adding Pains To Already Suffering Masses
Governor Abdullahi Ganduje of Kano state has threatened to sanction banks and businesses rejecting the old naira notes. The governor cited a Supreme Court interim injunction that allowed the use of old notes alongside new ones until the old ones are phased out. Governor Ganduje said he noticed that some businesses are rejecting old notes, worsening the situation due to the...
Turkey Suspends Trade Activities With Israel
Turkey said Thursday it was suspending all trade with Israel until it allows aid to enter Gaza unhindered during its offensive against Hamas militants in the territory. “Exports and imports to and from Israel have been suspended,” the trade ministry said in a statement, adding: “Turkey will apply these new measures… until the Israeli government authorises an uninterrupted flow of...
FG To Sell Afam Power Plant For N105 Billion
The federal government will realise the sum of N105 billion from the privatisation of Afam Power Plant. The Director-General of the Bureau of Public Enterprises, BPE, Mr Alex Okoh, stated this in Abuja, yesterday. According to him, the deal will be sealed at the Villa. He said that despite the COVID-19 pandemic, the BPE remained active. Meanwhile, the Bureau stated...
Cable TV: Reps Move To Break Monopoly, Make Pay-Per-View Compulsory
The Deputy Chairman of the Committee on Communication, House of Representatives, Unyime Idem, has said Nigerians will soon be enjoying pay-per-view bouquets. Idem, who is representing Ukanafun/Orukanam Federal Constituency in Akwa Ibom State, is chairman of the ad hoc committee set up by the House of Representatives to investigate tariff increment by cable/satellite television service providers in Nigeria. The House had...
NERC Urges Electricity Prepaid Customers To Update Their Meters
The Nigerian Electricity Regulatory Commission (NERC) has urged citizens with prepaid meter to update them before November 2024. The regulatory body said users who fail to update their meters before the said date won’t be able to recharge their prepaid meters. NERC, in a post on X, formerly known as Twitter, said updating the meters attracts no cost. The regulator said electricity...
Fresh Facts Emerge On Why CBN Extended Deadline For Use Of Old Naira Notes
President Muhammadu Buhari on Sunday, in Daura, approved the Central Bank of Nigeria’s request to extend the deadline for swapping of old naira notes with the redesigned notes from January 31, 2023, to February 10 2023. Buhari also approved a seven-day grace period which runs from February 10 to February 17 2023, to allow Nigerians to deposit their old notes...
Onitsha Seaport Will Drive Industrialization, Says Kalu
Following the successful completion of a trial barge trip (carrying containers) from Onne Port to Onitsha Port on Tuesday, former Governor of Abia State and Chief Whip of the Senate, Senator Orji Kalu has lauded the federal government for revamping Onitsha river port. According to Kalu, the resumed activities at Onitsha seaport will boost economic activities in the South East...
UAE Extends Grace Period For Residency Visa Violators
Federal Authority for Identity and Citizenship extends the period of exemption for being fined until December 31 The UAE on Tuesday announced an extension to the grace period for residents whose visas have expired. The Federal Authority for Identity and Citizenship (ICA) issued a decision to extend the period of exemption for being fined for "all violators of the entry and...
Buhari Will Commission My Refinery Before End Of His Tenure — Dangote
Chairman of the Dangote Group, Alhaji Aliko Dangote, has assured that the Dangote Refinery will be ready for commissioning before the end of President Muhammadu Buhari administration in 2023. He gave the assurance Friday while fielding questions from...
FG, States, LG’s Share N682.060bn As Allocation For August
The Federation Accounts Allocation Committee (FAAC) has shared a total of N682.060 billion August 2020 federation account revenue to the Federal, States and Local Government Councils and agencies. This was made known after the monthly Federation Account Allocation Committee (FAAC) meeting for September 2020 held through virtual conferencing; chaired by Dr. Mahmud Isa-Dutse, Permanent Secretary, Federal Ministry of Finance. The gross...
