The Central Bank of Nigeria (CBN) has countered claims that its new policy limiting cash withdrawals is targeted at point-of-sales (PoS) agents in particular. Though the apex bank, on December 6, set the weekly withdrawal limit at N100,000 and N500,000 for persons and organisations, respectively, it made allowances for...
BUSINESS
Leading corporate establishments owned by Benue indigenes are teaming up with The Top10 Magazine as sponsors of a gala night being put together by the magazine to celebrate and honour accomplished Benue-born business leaders who have distinguished themselves as ambassadors of the state in the business world. Leading the...
The Permanent Secretary in the Federal Ministry of Finance, Budget and National Planning, Malam Aliyu Ahmed, says more than 5,000 companies and individuals spread across 10 Ministries Departments and Agencies (MDAs) are owing the Federal Government about N5.2 trillion. Ahmed stated this at the zonal sensitisation workshop on Federal...
The Presidential Air Fleet (PAF) says its budgetary allocation in the past years is insufficient to fund the operations fleet. The Commander of the fleet, AVM Abubakar Abdullahi told members of the House of Representatives Committee on National Security and Intelligence during an oversight visit in Abuja. Represented by...
The Airlines Operators of Nigeria (AON) has urged the Federal Airports Authority of Nigeria (FAAN) to increase the number of check-in counters to reduce flight delayed experienced by passengers at the airports. The Vice President of the association, Chief Allen Onyema made this known at a book launch: ‘Air...
Headline inflation rate increased to 21.47 per cent on a year-on-year basis in November, the National Bureau of Statistics (NBS), has said. It made the declaration in its Consumer Price Index (CPI) and Inflation Report for November 2022 released in Abuja on Thursday. According to the report, the increase...
Some experts have advised the Central Bank of Nigeria (CBN) to review its monetary policy tools in order to tame the rising inflation. Dr Muda Yusuf, founder, Centre for the Promotion of Private Enterprises (CPPE), advised the CBN to resist the urge to further tighten the country’s monetary policy...
The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, says Nigeria needs help from the private sector to meet its public investment needs. Ahmed said this at the presentation of the latest World Bank Nigeria Development Update (NDU): “Nigeria’s Choice” and “Country Economic Memorandum(CEM): Charting a New...
The National Bureau of Statistics (NBS), says it will begin the zonal dissemination of its MPI Report in January 2023. Mr Semiu Adeniran, Statistician General of the Federation and Chief Executive Officer, NBS, said this at the 2nd Bi- National Consultative Committee of Statistics (NCCS), on Wednesday in Lagos....
Economists have urged the Central Bank of Nigeria (CBN) to take firm control of the quantity of the redesigned naira notes it would release into circulation to avoid hoarding and counterfeiting. The experts gave the advice in separate interviews with the News Agency of Nigeria (NAN), ahead of the...
The African Export-Import Bank (Afreximbank) and U.S. Eximbank have signed $500m Memorandum of Understanding (MoU) to boost trade and investment, especially to help revive and strengthen African airlines through re-fleeting. Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said this in an interview with...
By CALLISTUS OFFOR, Abuja – A malware that steals Facebook account credentials, known as “Schoolyard Bully”, has infected over 300,000 android devices, prompting the Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) to issue an advisory reminding user to only download applications from official sites and application stores....
The Federal Executive Council (FEC) has approved the Finance Bill 2022 designed to support the implementation of the 2023 budget. Hajia Zainab Ahmed, Minister of Finance, Budget and National Planning, briefed State House correspondents after the FEC meeting presided over Vice President Yemi Osinbajo on Wednesday at the Presidential...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC) has embarked on a regulatory step to sensitize the industry about the need for proper and continuous risk identification with the view to managing such risks before they affect the health of the industry. To this effect, the Commission...
The Central Bank of Nigeria (CBN) has warned in Abuja on Tuesday that those abusing the naira were liable to go to jail. It warned that the law banning the “spraying’’ and the stepping on the naira, especially at social gatherings is still in force and offenders are liable...
Shareholders of Dangote Cement Plc on Tuesday unanimously authorised the management of the company to undertake a share buyback of up to 10 per cent of its issued shares. The company said this in a statement signed by Mr Francis Browne, Media and Communication Officer, Dangote Group, in Lagos....
Shell Companies in Nigeria have been named the best local content operators at the 2022 annual industry dinner and awards ceremonies of the Petroleum Technology Association of Nigeria (PETAN). The dinner and awards was held in Port Harcourt, Rivers. This is contained in a statement by Mrs Abimbola Essien-Nelson,...
Human rights lawyer Femi Falana has faulted the Central Bank of Nigeria’s (CBN) new cash withdrawal limit, describing it as “illegal, null and void”. The CBN had ordered Deposit Money Banks (DMOs) and other financial institutions to ensure that weekly over-the-counter (OTC) cash withdrawals by individuals and corporate entities...
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the apex bank is committed to ensuring financial system stability and improving access to credit. Emefiele spoke in a recorded address to the 2022 edition of the apex bank’s Development Finance Department (DFD) Retreat in Abuja...
The Nigerian Communications Commission (NCC) says that no fewer than 210 million Nigerians had been active mobile subscribers in Nigeria as at August with a teledensity of 109.99 per cent. The Executive Chairman of NCC, Prof. Umar Dambatta, stated this on Monday at the NCC Day at the 43rd...