Business

Apr
04
2024
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By Abia ThinkTank
Court Adjourns Binance Tax Evasion Case To April 19

Court Adjourns Binance Tax Evasion Case To April 19

Crime, Business, CBN/Commercial Banking, Economy, Judiciary
Court Adjourns Binance Tax Evasion Case Till April 19 A Federal High Court in Abuja has adjourned the tax evasion case involving Binance Holdings Limited and its executives. The Federal Inland Revenue Service had dragged the firm to court for tax evasion. Also joined in the suit are officials of the company, Tigran Gambaryan, and fleeing Nadeem Anjarwalla. In the suit marked: FHC/ABJ/CR/115/2024, Binance was accused of failing to register with the FIRS for the purpose of paying all relevant taxes administered by the service. The FIRS also alleged that while it was offering taxable services to subscribers on its…
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Apr
04
2024
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By Abia ThinkTank
Edo Refinery Received 15,000 Barrels Of Crude From Oza Oil

Edo Refinery Received 15,000 Barrels Of Crude From Oza Oil

Business, Economy, News Flash, Oil & Gas
Edo Refinery Receives 15,000 Barrels Of Crude From Oza Oil The Edo Refinery has received a total of 15,000 barrels of crude oil in 2024 for production from the Oza Oil Field operated by Decklar Resources Inc. and Millenium Oil and Gas Company Limited. The Chief Executive Officer of Decklar Resources, Sanmi Famuyide, who disclosed this in a statement on Wednesday, noted that the company has continued ongoing crude oil injection volumes into the Trans Niger Pipeline for transport to and export from the Bonny Export Terminal. The refinery was developed by the Edo Refinery and Petrochemical Company Limited and…
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Apr
03
2024
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By Abia ThinkTank
Air Peace: The Most Beautiful Cabin Crew In The World Today

Air Peace: The Most Beautiful Cabin Crew In The World Today

Business, Columns/Opinions/Letters
The most beautiful cabin crew in the world right now. ❤️❤️ Made possible by Air peace . The best airline outta Nigeria . Isi Agu is a known and powerful attire from the IGBO ethnic group in Nigeria. A powerful Attire that means boldness as igbos are known for their bold steps in the business world. Congratulations to Allen onyema and air peace.
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Mar
29
2024
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By Abia ThinkTank
CBN Raises Commercial Banks Capital Base To N500 Billion

CBN Raises Commercial Banks Capital Base To N500 Billion

CBN/Commercial Banking, Business, Economy, News Flash
CBN Raises Commercial Banks Capital Base To N500 Billion The Central Bank of Nigeria has announced the increment of the capital base for commercial banks with international authorisation to N500bn and national banks to N200bn. The apex bank announced this in a statement signed by its Acting Director, Corporate Communications, Sidi Ali, in Abuja on Thursday. The CBN’s move mandates substantial increases in the minimum capital base for banks, varying by the scope of their operations. The latest policy directive specifies that commercial banks with international authorisation are now required to shore up their capital base to N500bn. She added…
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Mar
29
2024
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By Abia ThinkTank
Abia House Of Assembly Sent Delegates To Innoson CEO At Nnewi…

Abia House Of Assembly Sent Delegates To Innoson CEO At Nnewi…

Business, Economy, Good Governance, House Of Assembly, News Flash
Yesterday, I led a delegation from the Abia State House of Assembly and some members of Labour Party who are in Nnewi for Labour Party Convention to Chief Innocent Chukwuma, the CEO of Innoson Vehicles , at his residence in Nnewi, Anambra State. Our discussions centered on the ongoing manufacturing of special brand official vehicles for the 24 House of Assembly members of Abia State. We received assurances that these 24 official vehicles would be delivered to us by April 2024. The present Abia State Government remains committed to patronizing locally made products to stimulate the growth of the Naira.…
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Mar
29
2024
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By Abia ThinkTank
“I Had Studio In My Father’s House But He Didn’t Know. I Mastered To Record And Produce Myself.” – Davido

“I Had Studio In My Father’s House But He Didn’t Know. I Mastered To Record And Produce Myself.” – Davido

Business, Entertainment, Gossips, News Flash
"I had studio in my fathers house but he didn't know. I mastered to record and produce myself." Davido "Our house was a very big mansion, it had more than 20 so I used one as a studio and my father didn't know. So I was in the first floor and he was in the top floor and once he comes back from work he goes into the elevator and goes straight to his room. So he never hear the studio. But when I finished highschool, I moved to America for college. I first moved to Tennessee but I was…
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Mar
26
2024
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By Abia ThinkTank
CBN Raises Interest Rate To 24.75%

CBN Raises Interest Rate To 24.75%

Business, CBN/Commercial Banking, Economy, News Flash
CBN Raises Interest Rate To 24.75 Percent The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new interest rate is a jump from the 22.75 percent announced by the MPC about a month ago. It is the second rate hike by the committee in two months. Details later…
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Mar
25
2024
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By Abia ThinkTank
CBN Sell $10,000 To BDCs @ N1,251/$

CBN Sell $10,000 To BDCs @ N1,251/$

Business, CBN/Commercial Banking, Economy, FGN, News Flash
CBN Sell $10,000 To BDCs @ N1,251/$ The development comes after the CBN’s prolonged ban on forex sales to BDC operators. In the circular signed by the bank’s Director of Trade and Exchange Department, Dr Hassan Mahmud, on Monday, each BDC is directed to sell the purchased dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price, which translates to a maximum selling rate of N1,269/$1. The CBN had previously announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country in February, marking a significant…
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Mar
25
2024
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By Abia ThinkTank
NSA Arrest Officials Responsible For Escape Of Binance Executive

NSA Arrest Officials Responsible For Escape Of Binance Executive

Business, CBN/Commercial Banking, Crime, Economy, News Flash
NSA Confirms Escape Of Binance Executive, Arrests Officials Responsible The Office of the National Security Adviser (ONSA) has confirmed the escape of Nadeem Anjarwalla, the Binance regional manager for Africa. A statement by Zakari Mijinyawa, head of strategic communication at ONSA, said “preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport”. “The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,” the statement reads. Nadeem Anjarwalla, one of the two Binance executives detained in Nigeria for alleged…
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Mar
25
2024
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By Abia ThinkTank
Binance Speaks As FGN Declared Crypto Giants Official Missing

Binance Speaks As FGN Declared Crypto Giants Official Missing

Business, CBN/Commercial Banking, Crime, Economy, News Flash
Binance Speaks As FG Declares Crypto Giant’s Official Missing Global cryptocurrency exchange platform, Binance has reacted to reports that its official, Nadeem Anjarwalla, had escaped from detention in Nigeria. Confirming the report, spokesperson for Binance, Samantha Fuller, said that Anjarwalla was no longer in Nigeria. The crypto exchange said its concern continues to be the safety and well-being of its employees, and it is actively collaborating with Nigerian authorities to swiftly resolve the matter. “We were made aware that Nadeem is no longer in Nigerian custody. Our primary focus remains on the safety of our employees, and we are working…
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