Business - Abia ThinkTank News

Nov

19

2024

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By Abia ThinkTank

First Bank Of Nigeria (FBN) Holdings PLC Shareholders Approves Name Change Including Subsidiaries

CBN/Commercial Banking, Business, News Flash

At last, First Bank of Nigeria (FBN) Holdings Plc has received approval to change the company’s name to First Holdco Plc. The company’s shareholders approved the name change at the 12th Annual General Meeting (AGM), held virtually on Thursday, November 14, 2024. In a statement released over the weekend, Adewale Arogundade, the company’s Secretary, confirmed that the resolution extends to all by issuing FBN Holdings’ subsidiaries. According to the company, the change will be extended to all subsidiaries. The approved changes include shifting the company’s legal name from FBN Holdings Plc to First Holdco Plc and its brand name to…

Nov

17

2024

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Don’t Hike Prices Of Food Items During Xmas, New Year Celebration – Oluremi Tinubu Appeals To Market Women

Business, Economy, FGN, News Flash

Don’t Hike Prices Of Food Items During Xmas, New Year Celebration – Oluremi Tinubu Appeals To Market Women As the Yuletide season draws nearer, the First Lady, Senator Oluremi Tinubu, has appealed to market women to refrain from unfair hike in prices of food items during the festive season. This is as the President’s wife has inaugurated a 3.1 kilometer runway at the Wilberforce Chuba Okadigbo International Airport, Onueke, Ebonyi State. She performed the ceremony on the margins of her visit to the state where she attended the 2024 Ebonyi Women’s Day Celebration. She was joined at the inauguration ceremony…

Nov

15

2024

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Abia’s Green Gold: Unlocking The Potential Of Palm Oil For Sustainable Development – By Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Good Governance

Abia's Green Gold: Unlocking the potential of palm oil for sustainable development Governor Alex Chioma Otti's vision for Abia State is ambitious, with a 50-year plan that aims to transform the state into a major player in various sectors of the domestic and international economy. Today, we want to zero in on the palm oil industry. It is his hope that Abia State representingNigeria will certainly rival Malaysia and Indonesia. Generally, his Prosperous Abia plan is broken down into two 25-year phases, with each phase having its own theme and objectives. The governor's goal is to cascade resources into different…

Nov

15

2024

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CBN Send Fresh Warning To Banks, Directs Them As Priority To Load ATMs

Business, CBN/Commercial Banking, Economy, News Flash

CBN Send Fresh Warning To Banks, Directs Them To Load ATMs The Central Bank of Nigeria (CBN) has directed banks to prioritise cash disbursement through automated teller machines (ATMs). CBN gave the directive in a circular to banks on Friday titled ‘Mystery shopping & spot checks on cash disbursement activities of deposit money banks (DMBs)”. In the circular signed by Solaja Olayemi, acting director, currency operations department at CBN, the apex bank said it commenced spot checks to ensure efficient and responsible cash disbursement to the public and prevent the disbursement of mint banknotes to persons hawking naira notes. “Please…

Nov

15

2024

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Abia’s Entrepreneural Spirit: Trade, Factories And Development: A Historical Assessment – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Economy, Good Governance, News Flash

Abia's Entrepreneurial Spirit: Trade, Factories and Development: A Historical Assessment Abia State is a hub for trade, factories, and still striving for development in Nigeria. The state boasts an impressive array of industries, including brewing, textiles, and manufacturing. Let's dive into the history of some of the notable factories and industries in Abia State.Nigerian Breweries Plc, located in Aba, has been operational since 1957 and was upgraded in 2014.Guinness Nigeria Plc, another major brewing company, also operates in Abia State.Aba Textile Mills is a significant player in the textile industry, producing various fabrics and materials.International Glass Industry (IGI) in Aba…

Nov

14

2024

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NNPC Sack Top Officials, Names Replacements In A Major Shake-Up

Business, News Flash, Oil & Gas

NNPC Sacks Top Official, Names Replacement In A Major Shake-up The Nigerian National Petroleum Corporation (NNPC) has announced the removal of Umar Ajiya as the Chief Financial Officer (CFO) and the appointment of Mr. Adedapo A. Segun as his replacement. This was disclosed in a statement released on Wednesday by the company’s spokesperson, Olufemi Soneye, via NNPC’s official X (formerly Twitter) handle. In addition to this change, the company also appointed Isiyaku Abdullahi as the Executive Vice President (EVP) of Downstream Operations. Furthermore, Udobong Ntia has been named the Executive Vice President (EVP) of Upstream Operations, completing a significant reshuffle…

Nov

11

2024

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X-Raying Governor Otti’s Bold Tourism Vision – By Dr. Chukwuemeka Ifegwu Eke

Abia State, Business, Columns/Opinions/Letters, Culture, News Flash

X-Raying Governor Otti's Bold Tourism Vision The dynamism in global oil prices has exposed Nigeria's vulnerabilities, including Abia State's, highlighting the need for economic diversification. While agriculture is often touted as the "messianic industry," Abia State's tourism sector, as the governor is revamping, will attract substantial foreign exchange earnings. Recent reform efforts seem to point to this fact. Abia State, like Nigeria, defines tourism broadly as arts and culture, nature, conservation, and other aspects. Dr Alex Chioma Otti is mirroring Rwanda, South Africa, and Ghana. Abia State's approach remains promising.Examples are, investment in arts and culture, tapping its tourism potential,…

Nov

10

2024

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Ohafia LGA’s Economic Renaissance: Harnessing Local Resources For Revenue Expansion – By Dr. Chukwuemeka Ifegwu Eke

Abia North, Business, Columns/Opinions/Letters, Good Governance, News Flash, Ohafia LGA

Ohafia LGA's Economic Renaissance: Harnessing Local Resources for Revenue Expansion Abia State's Ohafia LGA Internally Generated Revenue (IGR) data 2021 was not readily available at the time of preparing this report, however this discussion must be brought to the front burner. Let's provide some insights on Nigeria's IGR for that period. In the first half of 2021, Nigeria's 36 states and the FCT generated N849,123,384,003.55 in IGR, with a 13.21% growth from the first to the second quarter. Lagos State led with N267,232,774,434.06, followed by FCT and Rivers State. The South-West zone had the highest revenue, while the North-East zone…

Nov

08

2024

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No Shop Owner Will Lose His/Her Shop In The Ongoing Remodeling Of Ariaria International Market, Ekeoma Market And Others – Governor Otti Assures

Abia State, Business, Good Governance, News Flash

NO SHOP OWNER WILL LOSE HIS/HER SHOP IN THE ONGOING REMODELING OF ARIARIA INTERNATIONAL MARKET, EKEOHA MARKET AND OTHERS, GOVERNOR OTTI ASSURES. Abia State Governor Dr. Alex Otti, OFR, has assured that no shop owner in the A-line section of the Ariaria International Market and Ekeoha Market undergoing remodeling will lose his/her shop when the shops will be reallocated on completion. The Governor gave the assurance on Wednesday Nov. 5th, when he received in audience a delegation of the National Association of Nigeria Traders (NANs) in his office. According to Governor Otti, every shop owner should be given right of…

Nov

06

2024

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Apostle Chibuzo Chinyere Leads Investors To Meet Governor Otti, Names Investment Target Areas In ABIA State

Abia State, Business, Economy, Good Governance

APOSTLE CHIBUZO CHINYERE LEADS INVESTORS TO MEET GOVERNOR OTTI, NAMES INVESTMENT TARGET AREAS IN ABIA STATE. The General Overseer of Omega Power Ministry (OPM) and Traditional Ruler of Ohanko Ndoki Community, Ukwa East LGA, Apostle Chibuzo Chinyere led a team of investors to discuss areas and targets of investment in Abia State to support the Governor Otti led government. Speaking to the press after a close door business meeting with Governor Alex Otti, Apostle Chibuzo Chinyere said that he had to travel to different countries to seek investment and investors who would support the achievements of the Governor so far.…