Business and Economy

An Operations Manager of a leading Commercial bank in Abuja Central Area was today, February 6, 2023, arrested by operatives of the Economic and Financial Crimes Commission, EFCC, for refusing to load the Automated Teller Machines, ATMs, of the bank despite having N29million of the redesigned Naira notes in the …

Presidential Candidate of the Labour Party (LP) in the February 25, 2023, election, Mr. Peter Obi, has urged the Central Bank of Nigeria (CBN) and the banks in the country to expedite efforts towards making the new redesigned currency available to Nigerians, especially small depositors and the unbanked in order …

Sterling Bank has explained an incident at their Ado-Ekiti branch where a regulatory official on a monitoring visit saw N 6,000,000 in N 200 denominations in their vault that were not being dispensed. The Bank besides explaining the circumstances surrounding the incident, also noted that “all denominations can now be withdrawn from …

Except for those with verifiable constraints such as lack of supplies from the CBN, Borno State Governor, Professor Babagana Umara Zulum has directed that any bank which refuses to dispense new naira notes via Automated Teller Machines (ATMs) and banking halls should have its land revoked by the state government. …

 ….Tasks Supervising AIGs, CPs on Enforcement of CBN Act  In furtherance of the Federal Government’s policy and drives to uphold the provisions of the Central Bank of Nigeria (CBN) Act, 2007, and dignify Nigeria’s currency, the Inspector-General of Police, IGP Usman Alkali Baba, has ordered the Deputy Inspector-General of Police …

Dr. Bashir Jamoh, OFR, Director General of Nigerian Maritime Administration and Safety Agency (NIMASA) has called for deeper private sector participation in the blue economy initiative to harness greater benefits from the maritime industry. Delivering a paper in Lagos as guest speaker at a lunch hour lecture series organised by Academy …

By Funmilola Gboteku Lagos, Feb. 2, 2023 The Nigeria LNG Ltd. (NLNG) says it has partnered with the Lagos Chamber of Commerce and Industry (LCCI) on presentation of the joint-winners of the 2022 Nigeria Prize for Science to industry players. According to NLNG in a statement on Thursday in Lagos, the …

The Economic and Financial Crimes Commission, EFCC, in separate operations in the Zone 4 and Dei Dei axis of the Federal Capital Territory on Saturday, January 28, and Monday, January 30, 2023 nabbed members of a syndicate of currency racketeers hoarding and trading with the redesigned Naira notes. The operation …

The battle for places among customers of Konga, Nigeria’s leading composite e-commerce giant, for the all-expense paid Knowledge Weekend mentorship programme with the Chairman, Zinox Group, Leo Stan Ekeh is set to reach a climax this week, with only two slots left to fill as the ongoing KongaJara promo ends on …

Fiscal document speaks to residents’ aspirations, promises prudent implementation Lagos State Governor Babajide Sanwo-Olu, on Friday, signed the State’s N1.768 trillion “Budget of Continuity” into law to consolidate development strides of his administration and satisfy the yearnings of the residents. The Governor said the fiscal document not only “aggressively” focus …

Accra, Jan. 27, 2023 Africa needs to increase its production capacity to realise the dream of trading its way out of poverty, Ghanaian Vice President Mahamudu Bawumia has said. Bawumia made the comments in his keynote address at the opening ceremony of a three-day high-level policy dialogue on achieving prosperity …

By Kadiri Abdulrahman Abuja, Jan. 27, 2023 The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Thursday, unveiled an African Central Bank led National Domestic Card Scheme (AfriGO) to address local peculiarities. At the event, which was monitored virtually, Emefiele said the new card would be accessible …

… Wants branches at Gwoza, Monguno this week Borno State Governor, Babagana Umara Zulum, has directed the State Ministry of Finance and that of Higher Education, Science, Technology and Innovation to, in accordance with regulatory procedures, hastily establish branches of Borno’s existing Microfinance Bank, as well as/and ICT centres across …

By Polycarp Auta Jos, Jan. 25, 2023 The Central Bank of Nigeria (CBN) has denied scarcity of the new Naira notes as alleged by some Nigerians. The CBN Governor, Godwin Emefiele, represented by Musa Jimoh, Director, Payment System Management Department of the bank, denied the allegation in a news conference …

· Welcomes provision of $538.05 million to Nigeria by ADB, other partners for special agro-industrial processing zones  President Muhammadu Buhari on Wednesday in Dakar urged African leaders to demonstrate political will and re-commit themselves to transformation of agriculture in the continent. In his goodwill message to the Feed Africa Summit …

  … As Jamoh charges banks to complement government’s effort   The Management of the Nigerian Maritime Administration and Safety Agency NIMASA Wednesday met with members of the Executive Management of Jaiz Bank, United Bank of Africa (UBA), Union Bank, Zenith Bank and Polaris Bank which are the Federal Government …

  By Kadiri Abdulrahman Abuja, Jan. 25, 2023 The Debt Management Office (DMO) has offered four Federal Government of Nigeria (FGN) bonds valued at N360 billion for subscription via auction at N1,000 per unit. According to a circular by the DMO, the bonds on offer are re-opening of a 10-year, …

  Lagos, Nigeria Leading financial institution, Union Bank of Nigeria, has reiterated their support for Small and Medium-sized Enterprises in the country to drive increased growth and development. This commitment was made during the recently held ‘Top 100 Fastest Growing SMEs in Nigeria’ conference hosted by Business Day newspaper. The …

January is renowned for being a month of extremely slow days, mounting bills and a long, grinding wait for pay-day. This is often the case for folks in paid employment. However, the difficulties that traditionally accompany the month of January impact entrepreneurs or those in business as well. Usually, discretionary …

Mrs. Molayo Jebutu, one of the customers of Konga, Nigeria’s leading composite e-commerce giant, selected for the all-expense paid Knowledge Weekend programme with the Chairman, Zinox Group, Leo Stan Ekeh, has expressed her excitement and expectations from the exclusive mentorship session. Mrs. Jebutu, who confessed to be an ardent and …

President Muhammadu Buhari on Monday officially inaugurated the Lekki Deep Sea Port located in Itoke village, Ibeju-Lekki, Lagos, observing the offloading from CMA CGM Mozart at the Quay. The President arrived earlier on a two-day visit for a “Lagos Festival of Projects” commissioning. His aircraft touched the ground at 3:33pm …

  President Muhammadu Buhari on Monday commended Lagos State Governor, Mr. Babajide Sanwo-Olu for the State Government’s revolution in the agriculture sector, especially in rice production. The President told Governor Sanwo-Olu in a simple sentence “You are doing Well.” He spoke during the inauguration of the Lagos Rice Mill in …

– Calls for review to reflect current realities The National Association of Seadogs, Pyrates Confraternity, has described the 2023 national budget of the Federal Government as anti-people. It has, therefore, called for a review of the budget to reflect current realities to place emphasis on revamping the economy and giving …

By Leo Okachie Umuahia, Jan. 21, 2023 The Labour Party (LP) Governorship Candidate in Abia, Dr Alex Otti, says he will build a turbine in Ikwuano through Public Private Partnership (PPP) to exploit the huge lignite deposit in the area for electricity generation. Otti said this at Amizi Oloko in …

Kofo Salam-Alada, Director, Legal Services Department, Central Bank of Nigeria, sensitising marketers at Computer Village, Ikeja, Lagos, on Wednesday. By Lydia Ngwakwe Lagos, Jan. 18, 2023 The Central Bank Governor, Mr. Godwin Emefiele, has called on commercial banks to approach the apex bank branches across the country to pick up …