BUSINESS
CBN Bars BVN Violators From Opening New Bank Accounts
The Apex Bank in Nigeria, Central Bank of Nigeria (CBN) has barred BVN Violators from from opening a new bank accounts going by its fresh rule. The new policy is contained in a Revised Regulatory Framework for Bank Verification Number (BVN) operations and Watch-List for the banking industry released by the apex bank in its Update Report circular. According to the...
Economic Diversification With Focus On Non-Oil Exports Is On Course – Osinbajo
The Vice President, Professor Yemi Osinbajo, believes Nigeria is on the right path to economic diversification focusing on non-oil exports, with the zero-oil plan actively promoted by the Nigerian Export Promotion Council (NEPC). Professor Osinbajo stated this on Thursday when he received a delegation from the NEPC led by its outgoing Executive Director/CEO, Mr Segun Awolowo. “We are set on the...
Nigeria Air Set To Commence Operations By April 2022
The proposed national carrier will begin a flight in April next year, the Minister of Aviation, Hadi Sirika, has said. The development came three years after the Federal Government announced plans to establish a new national carrier, following the liquidation of Nigerian Airways in 2003. At the end of a virtual Federal Executive Council meeting presided over by the Presiden Muhammadu...
Nigerians May Buy One Litre Of Fuel For N340 In 2022 If… Kyari
Mele Kyari, the Managing Director of the Nigerian National Petroleum Corporation (NNPC), on Tuesday said that subsidy would have been eliminated in 2020 but certain factors hampered it. He, however, said that the law provides that by the end of February 2022, Nigeria should be out of the subsidy reign. Kyari said this at the presentation of the World Bank Nigeria...
It’s Not Responsibility Of Electricity Consumers To Buy Transformers, Poles, Others — FCCPC
The Federal Competition and Consumer Protection Commission has declared that it is not the responsibility of electricity consumers/customers or communities to buy, replace or repair transformers, poles, cables and related items used in power supply. The disclosure was made on Wednesday in Benin, the Edo State capital by FCCPC’s Executive Commissioner, Operations, Dr. Adamu Abdullahi, in his remarks at the...
Abia Residents Carpet EEDC Over Increase In Electricity Tariff
Public power consumers in Abia State, South East Nigeria, are lamenting the latest hike in electricity tariff by the Enugu Electricity Distribution Company, EEDC. The people who described the tariff increase as unbearable, accused the energy supply company of not considering the present economic challenges facing Nigerians in its business decisions. About six months ago, the Abia State House of Assembly...
Fresh Borrowing: Reps Approve Buhari’s $16bn, €1bn Loan Requests, $125m Grant
House of Representatives, yesterday, approved President Muhammadu Buhari’s request for new externally borrowing comprising $16.2 billion and €1.020 billion. The House also approved a grant component of the external funding plan amounting to $125 million in the President’s request. The approval was granted during the consideration of report on the ‘Request for a concurrent approval of donor fund projects under the...
Trade Fair: Benjamin Kalu Hails Made-In -Aba Products (Photos)
The Member representing Bende federal Constituency and the Spokesperson of the House joined the Made in Aba Trade Fair in Abuja with an assurance of facilitating access to loan facilities for the artisans. At the trade fair which commenced on the 8th of November, 2021 at the FCT Sports Centre, Area 10, the federal lawmaker was welcomed cheerfully by the...
Nigeria Inflation Rate Drops to 15.99% in October as Food Prices Ease
Nigerian inflation slowed to a 10th-month low in October, giving the central bank scope to leave interest rates on hold next week. Consumer prices increased 15.99% from a year earlier, compared with 16.63% in September, Statistician-General Simon Harry told reporters Monday in Abuja, the capital. The median estimate in a Bloomberg survey of seven economists was 16.2%. While inflation has exceeded...
Buhari Meets AFREXIM Bank President in South Africa
The President, Muhammadu Buhari on Sunday held a meeting with the President of the African Export-Import Bank, Benedict Oramah, in South Africa. This was announced by the Personal Assistant on Broadcast Media to the President, Buhari Sallau, via his Facebook page. Sharing pictures of the meeting, he said, “President Muhammadu Buhari holds Bilateral Meeting with President of AfREXIM Bank Prof. Benedict Oramah in...
