BUSINESS
CBN To Supply Forex To Banks Only
The Central Bank of Nigeria, CBN has announced that Forex will only be supplied to banks as all sales to Bureau De Change operators (BDCs) have been discontinued. CBN Governor, Godwin Emefiele made this revelation during a Monetary Policy Committee (MPC) meeting on Tuesday, July 27th. Emefiele disclosed that the apex bank had to make this move because of the suspicious...
Minerals Development: Turkish Ambassador Hosts Uche Ogah
As part of moves to synergize with Nigeria for the development of mineral resources, Ambassador of the Republic of Turkey to Nigeria, H.E, Ambassador Hidayet Bayraktar recently hosted Nigeria's Minister of State for Mines and Steel Development, Dr. Uche Ogah. ABN TV gathered that the minister and his host also discussed Nigeria-Turkish relationship in the Minerals and Metal sector and...
CBN Stops Licensing Of Bureau De Change Operators
The Central Bank of Nigeria (CBN), has stopped the licensing of Bureau De Change (BDC) operators in the country, ABN TV reports. This is according to the apex bank’s governor, Godwin Emefiele. He made this known at the MPC briefing on Tuesday, July 27, 2021. While Emefiele said CBN will no longer license new BDC operators, he also disclosed that all current...
FG To Boost Benue’s Agric Sector – Minister
The federal government has expressed its desire to transform the agriculture sector of Benue State in order to boost food production and encourage exportation. This was disclosed yesterday by the Minister of State for Industry, Trade and Investment, Mariam Katagum, in Makurdi at the official inauguration of the state office for the implementation of the Nigeria Agribusiness and Agro-Industry Development...
Nigerians’ll Soon Enjoy Improved Power Supply — FG
The Minister of Power has promised that the Ministry of Power will improve the electricity supply to Nigerians. Mamman speaking with newsmen during the Eld-el-Kabir celebration in Jalingo said that communities that were underserved would enjoy adequate service soonest. He also assured those communities who had not been connected to the national grid that alternative sources of power generation would be...
No More Sale Of Revenue Ticket To Okada, Keke Riders On Holidays In Abia — Ikpeazu
Abia State Governor, Okezie Ikpeazu has banned the sale of revenue tickets to commercial motorcycle operators, popularly known as okada, and tricycle operators called Keke riders. This is according to a resolution reached after a meeting between Abia State Internal Revenue Service (AIRS) and major stakeholders in the transport sector, including commercial tricycle (Keke) and Motorcycle (Okada) operators, a statement...
Ogah Seeks Republic of Korea’s Collaboration To Develop Nigerian Mining Sector [PHOTOS]
Minister of State, Mines and Steel Development, Dr. Uchechukwu Sampson Ogah has said that about 44 different minerals in commercial quantities in the country, urging the Republic of Korea to invest in Nigeria's solid minerals sector for the mutual benefit of both countries. The Minister also added that Korea could source raw materials from Nigeria for its manufacturing and technological...
Nigeria’s Inflation Rate Drops To 17.7% In June
Nigeria’s Inflation has yet again fallen to 17.75% as the economy steadily improves. The country’s inflation rate dropped further in the month of June 2021 to 17.75% from 17.93% recorded in May 202!. This represents the third consecutive decline in headline inflation. This is according to the latest consumer price index report, released by the National Bureau of Statistics (NBS). READ ALSO:...
Stop Mortgaging Future Of Our Youths, End Borrowing, Moghalu Advises Buhari
Convener of Moghalu4Nigeria Movement (M4N), Prof. Kingsley Moghalu, has deplored Nigeria’s debt exposure, which stood at $32.85 billion by March this year. The former Central Bank of Nigeria (CBN) deputy governor, therefore, advised the Federal Government to urgently “halt this borrowing binge, which is exposing the country to a possible future debt peonage, considering our external debt by 2015 was...
After Two Hour Delay, Airlines To Make 100% Refund To Passengers — FG
Airline operators in the country must refund the full cost of travel tickets to passengers after a two-hour delay, the Federal Government has said. Minister of Aviation, Hadi Sirika, made this known on Thursday at the weekly State House Briefing in Aso Villa, Abuja. He read some of the rights of aviation passengers at the briefing and charged them to demand...
