BUSINESS
Elon Musk Buys Twitter
Twitter said Monday it has agreed to sell itself to Elon Musk, who will take the company private in a deal valued at around $44 billion. The deal caps off a whirlwind news cycle in which the Tesla and SpaceX CEO became one of Twitter's largest shareh...
We’ve Returned Ibori’s Looted £4.2m To Delta State Govt, Says Accountant-General
The Accountant General of the Federation, Ahmed Idris on Tuesday said the £4.2m looted by ex-Delta State Governor, James Ibori, has been returned to the state. The Attorney-General of the Federation, Abubakar Malami had on March 9 said the loot would be used for the construction of the second Niger Bridge, Abuja-Kano road, and Lagos-Ibadan Express road and not returned...
Nigeria Secures $163m Loan From AfDB To Scale Up Wheat Production — Shettima
The Federal Government has obtained a loan worth one hundred and sixty-three million dollars from the African Development Bank (AfDB) to scale up wheat production in the country. The vice president, Kashim Shettima, disclosed this in Argungu, Kebbi State where he paid a condolence visit to the Argungu Emirate, state government, and the family of a renowned Islamic cleric, Sheikh...
Young Entrepreneur Ejechi Unveils Farm Project in Nasarawa, Lauds Awosika, Late Wigwe
A young entrepreneur and the CEO, Gentlereal Farms and Kitchen Ltd, Mr. Eugene Chinedu Ejechi has officially unveiled his farm project located in Masaka, Nasarawa State where he extolled the rich investment mentorship gained from the former Chairman of Access Bank, Dere Awosika, as well as the late Chairman of Access Holdings, Mr. Herbert Wigwe. At the commissioning of the...
National Economic Council Suspends Fuel Subsidy Removal
The National Economic Council, NEC, has suspended the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari’s administration. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed disclosed this while briefing State House correspondents at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja. She...
NNPC Says It Rejected 5 Cargoes Containing Substandard Petrol
The Nigerian National Petroleum Company Limited, on Wednesday, disclosed how five cargoes containing ethanol-laden Premium Motor Spirit (petrol) were rejected after discovering that the first was substandard. The Group Managing Director of the NNPC, Melee Kyari, also disclosed that the company was filing damages against suppliers of the substandard PMS, while alleging that Duke Oil, one of the company’s subsidiaries,...
Fubara Says He’s Committed To Welfare Of Rivers Workers
Gov. Siminialayi Fubara of Rivers has affirmed his resolve to pursue policies and programmes that will significantly enhance the welfare of the state civil servants. He made the remark on Thursday, when he addressed a group of workers, who were at the Government House to register their grievances over the non-payment of the N100,000 Christmas largesse he approved for state...
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...
CBN Raises ITMO Application Fee To N10m, Restricts Banks, Fintechs From Providing Services
The Central Bank of Nigeria (CBN) has increased the application fee for the international money transfer operators (IMTO) licence application fee from N500,000 to N10 million in the revised guidelines. The increase as contained in the revised guidelines for the operations of IMTOs, which were officially released on January 31, 2024, represents about 1,900% in 10 years. Also, the CBN banned...
CBN Places N1Million Limit On eNaira Single Transaction
Merchants are barred from exceeding N1 million a deal on eNaira transactions, the Central Bank guideline on the usage of the digital currency indicates. This is part of the operating model and prototype design of the payment platform due to take off on Friday. While the N1 million ceiling is placed on sending and receiving money per transaction on the eNaira,...
