BUSINESS
Adamawa Governor, Fintiri Raises NYSC Members’ Pay By N10,000
The governor of Adamawa state, Ahmadu Umaru Fintiri, on Tuesday increased the monthly allowance of National Youth Service Corps (NYSC) members in the state with ₦10,000 (ten thousand naira). Fintiri disclosed this in a statement and said he was excited to welcome the 2023 Batch ‘C’ Stream II Corps members to Adamawa State. “Your dedication to nation-building is recognized, and we’re...
Tinubu Assures Business-Friendly Economy As Coca-Cola Announces $1bn Investment In Nigeria
President Bola Tinubu has reiterated his administration’s commitment to creating a robust financial system and a business-friendly economy that will attract more foreign direct investments. The President made the commitment on Thursday in Abuja, as the Coca-Cola Company announced plans to accelerate its investments in Nigeria to $1 billion over the next five years. This was disclosed by the Special Adviser...
Logistics, Flooding Responsible For Latest Fuel Scarcity, NNPC Tells Nigerians
The Nigerian Nigerian Petroleum Company Limited (NNPCL), has blamed resurfacing of fuel queues in some parts of the country on the disruption of ship-to-ship (STS) transfer of Premium Motor Spirit (PMS), also known as petrol, between Mother Vessels and Daughter Vessels resulting from recent thunderstorm. A statement by the company’s Chief Corporate Communications Officer, Olufemi Soneye, on Monday, said the...
Inflation Rate Under Buhari Not Highest In Nigerian History — Keyamo
Festus Keyamo, the spokesperson for the presidential campaign council of the All Progressives Congress standard bearer, Asiwaju Bola Tinubu, has said the inflation rate under President Muhammadu Buhari's administration is not the highest in the history of the country. The Senior Advocate of Nigeria, who appeared on Arise TV morning show on Monday, was responding to questions about what Buhari’s...
AEDC Vows To Disconnect MDAs, Aso Villa, DHQ, CBN Others Over Heavy Debt
No fewer than 86 ministries, agencies and departments of government are owing the Abuja Electricity Distribution Company to the tune of N47bn. According to a public notice by the management of the AEDC, the Presidential Villa owes the DisCo the sum of N923.9m; the National Security Adviser owes N95.9bn; the Ministry of the Federal Capital Territory being supervised by Nyesom...
“It’s Foolishness To Keep Borrowing” – Obasanjo Blasts Buhari
Former President, Olusegun Obasanjo has fired the Muhammadu Buhari administration over its continuous borrowing to fund recurrent expenditure. Obasanjo, in a recent interview with Channels TV, said that it was ‘foolishness’ to keep borrowing and creating debt for the future generation. “If you want to build a commercial house and you go and borrow money, and you have 50 per cent...
Quit Now, Abia Government Tells Umuahia Street Traders
Abia State government has asked traders operating at Ishigate at the centre of Umuahia, the capital to relocate to government approved markets immediately. The permanent secretary of ministry of trade and investment, Michael Egwu stated this in Umuahia while reacting to sudden resurgence of trading at the spot. He, therefore advised the traders to choose between Ubani Ibeku Modern Market or...
BREAKING: CBN Reduces Monetary Policy Rate To 12.5%
The Monetary Policy Committee (MPC) of Central Bank of Nigeria on Thursday reduced monetary policy rate (MPR), or the controlling lending rate to 12.5 percent, ABN TV reports. It, however, left other monetary policy parameters unchanged. Reading the communique of the meeting, CBN Governor, Mr. Godwin Emefiele, said the MPC resolved to retain the Liquidity Ratio at 30 percent, Cash Reserve...
CBN Auctions $876m To 26 Banks, Disqualifies Six
The Central Bank of Nigeria (CBN) has successfully auctioned $876.26 million to 26 deposit money banks (DMBs) in the latest Retail Dutch Auction System (RDAS) held on Tuesday, August 6, 2024. The auction was part of the apex bank’s efforts to enhance foreign exchange liquidity in the market, alleviate demand pressure, and support price discovery, in line with its objectives. The CBN disclosed...
UAE Offers Doctors, Students 10-year Golden Residency Visa
The United Arab Emirates said Sunday it will grant all doctors and infectious disease experts living in the country a 10-year visa, who are helping to combat the coronavirus pandemic. Foreigners in the UAE, like most Gulf countries, are generally only given limited residence visas tied to their current employment, and long-term residency is difficult to obtain. But to attract wealthy...
