Business and Economy

I was witness to history on Friday last week. I’d been invited to attend what was called NNPC Cutover Ceremony at the corporate head office of the burgeoning National Energy Company in Abuja, Federal Capital Territory. What did the event mean, in simple English. NNPC was completing its transmutation from …

By Lydia Ngwakwe Lagos, Feb. 22, 2023 The Association of Corporate Affairs Managers of Banks (ACAMB) says all bank branches and digital channels will be open for banking services before, during, and after the elections. The association said this in a statement signed by its President, Mr. Rasheed Bolarinwa, on …

  It was a weekend of excitement, filled with a huge dose of useful business success tips and powerful insights from a carefully selected cast of resource persons and spiced with loads of fun and surprises as Konga, Nigeria’s leading e-commerce giant hosted 12 lucky shoppers to an all-expense paid …

By Jessica Dogo Abuja, Feb. 21, 2023 The Nigerian Communications Commission (NCC) has dedicated its Consumer Toll-Free Number 622, to serve as 2023 Presidential Election Incident Hotline. The News Agency of Nigeria (NAN) reports that this was in view of the importance attached to the upcoming presidential election. The Executive …

DMO D-G, Patience Oniha By Kadiri Abdulrahman Lagos, Feb. 21, 2023 The Debt Management Office (DMO) is set to unveil its Federal Government of Nigeria (FGN) securities subscription portal to stakeholders in Lagos. The Director-General (D-G) of the DMO, Patience Oniha, told the News Agency of Nigeria (NAN) that the …

  CBN thanks Gov. Adeleke for maintaining peace; Says ‘We’ve issued queries to some banks  Governor of Osun State, Senator Ademola Adeleke has warned against hoarding of new naira notes by commercial banks, calling on the Central Bank of Nigeria (CBN) to sanction financial institutions involved in such anti-people activities. …

Borno State Governor, Babagana Umara Zulum, has released N100 million and working tools to over 5,340 tailors to enhance their businesses. The tailors, operating under an Amalgamated Tailoring Association with members from different local government areas, are based in Maiduguri. Of the combined 5,340 tailors, about 2,000 received N50,000 each …

By Cecilia Ologunagba New York, Feb. 19, 2023 The Consul General of Nigeria in New York, Amb. Lot Egopija, has said that 400 Nigerian passports remain uncollected at the Consulate, urging the applicants to come forward and claim them. Egopija disclosed this at the virtual 8th Town Hall Meeting with …

By Lydia Ngwakwe Lagos, Feb. 18, 2023 The Chartered Institute of Bankers of Nigeria (CIBN) said it was liaising with the Body of Banks CEOs to address the current challenges caused by the cash swap and scarcity of the redesigned banknotes. Dr Ken Opara, President/Chairman of Council, CIBN, said this …

The Neo Africana Centre (NAC), a public policy think tank, has thrown its weight behind the currency swap policy of the Federal Government which has seen some denominations of the old Naira notes give way to redesigned ones. The Centre said it is persuaded to back the policy following the …

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arrested an accountant of Oando Filling Station, Dutse Alhaji, Abuja over alleged racketeering of the new Naira notes. This latest arrest,according to a statement by Mrs Azuka Ogugua, Spokesperson, ICPC, followed the continued onslaught by the Commission on some …

By Ismaila Chafe Abuja, Feb. 16, 2023 Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has directed commercial banks to adhere to President Buhari’s directive to make available N200 notes for circulation. The CBN governor stated this when he fielded questions from State House correspondents after a closed-door …

By Nathan Nwakamma Yenagoa, Feb.15, 2024 The Bayelsa Government on Wednesday dissociated itself from a list of 10 state governments opposing the Naira redesign policy and restated its support to the Federal Government on the exercise. The government in a statement issued in Yenagoa, demanded apology from a group of …

Mr. Stanley Okafor, President, LOBRAC, addressing journalists in Awka. By Lucy Osuizigbo-Okechukwu Awka, Feb. 13, 2023 A civil society organisation, the Leadership Orientation and Basic Rights Advocacy Centre (LOBRAC), on Monday, said the currency redesign policy of the Central Bank of Nigeria (CBN) would stabilise the nation’s economy. Mr. Stanley …

By Kadiri Abdulrahman Abuja, Feb. 11, 2023 The Central Bank of Nigeria (CBN) has denied claims that the scarcity of the newly redesigned Naira notes was caused by shortage of printing materials. Over the last couple of days, some news outlets had been reporting the shortage of currency printing materials …

Anthonia Ehibor is one of the twenty trainees admitted into an 18-month Technical Training program at Nestlé Nigeria’s newest Technical Training Center (TTC) at the company’s Flowergate Factory in Ogun State. Anthonia, an indigene of Edo State with an Ordinary National Diploma (OND) in Engineering from the Federal Polytechnic Auchi, …

Konga, Nigeria’s leading composite e-commerce giant, has unveiled the final list of 12 shoppers selected for the all-expense paid Knowledge Weekend mentorship programme with the Chairman, Zinox Group, Leo Stan Ekeh. The exclusive mentorship programme is scheduled to take place this weekend from Friday, February 10 till Sunday, February 12, …

  BRT, LAGRIDE, FMLM, LAGFERRY passengers to enjoy weeklong relief with Cowry Cards Governor permits fuel stations to operate 24hrs Following nationwide tension caused by persistent fuel shortage and the debacle of currency exchange by the Central Bank of Nigeria (CBN), Lagos State Government has announced palliative measures to cushion …

Emmanuel Oloniruha Abuja, Feb. 7, 2023 The Central Bank of Nigeria (CBN) says naira re-design won’t affect the 2023 general election, as it will provide required cash and other supports needed for smooth conduct of the poll. Godwin Emefiele, the CBN Governor, said this when he received Prof. Mahmood Yakubu, …

Sterling Bank, a leading Nigerian commercial bank and Africa’s Most Agile Company has taken the courageous step of suspending transaction fees for all of its personal account holders as a sign of solidarity with them during these trying times, Abubakar Suleiman, the bank’s chief executive, announced in a personal email …

By Aderonke Ojediran Lagos, Feb. 6, 2023 Access Bank has unveiled several discounts and mouth-watering freebies on its retail products and services to celebrate its customers in this season of love. The Valentine season campaign, tagged ‘Love is More,’ will run from Feb. 1 to March 11, 2023. Mr. Robert …

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. …