Business - Abia ThinkTank News

May

2024

Gov Otti Says ABIA Will Partner With Unido In Industrial Development

GOV OTTI SAYS ABIA TO PARTNER WITH UNIDO IN INDUSTRIAL DEVELOPMENT Abia State Governor, Dr. Alex Otti, OFR, says Abia would partner with the United Nations Industrial Development Organization (UNIDO) in the development and implementation of its industrial policy. Governor Otti, who stated this at a recent meeting with a delegation from UNIDO, hailed the organisation's vast experience in crucial sectors such as agriculture, renewable energy, SME support, and industrialisation policies, among others. The Governor underscored UNIDO's familiarity with the state's needs and potentials and noted that the collaborative effort between the state government and the organisation would drive industrial…

May

2024

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By Abia ThinkTank

Cryptocurrency: American Brothers Arrested For Stealing $25 Million In 12 Seconds

Crime, Business, Foreign Affairs, News Flash

Cryptocurrency: American Brothers Arrested For Stealing $25 Million In 12 Seconds An indictment was unsealed today charging Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York, with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The charges in the indictment arise from an alleged novel scheme by the defendants to exploit the very integrity of the Ethereum blockchain to fraudulently obtain approximately $25 million worth of cryptocurrency within approximately 12 seconds. Anton Peraire-Bueno and James Peraire-Bueno were arrested yesterday in Boston and New York, respectively, and will be presented this afternoon before…

May

2024

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By Abia ThinkTank

Gov Otti Says ABIA Will Leverage Digital Technology To Grow Economy

Abia State, Business, Economy, Good Governance

GOV OTTI SAYS ABIA WILL LEVERAGE DIGITAL TECHNOLOGY TO GROW ECONOMY Abia State Governor, Dr. Alex Otti, OFR, says his administration is passionate about taking advantage of the opportunities provided by digital technology in managing the state's economy. Governor Otti stated this on Monday while addressing participants of Study Group 7, Senior Executive Course 46 of the National Institute for Policy and Strategic Studies, Kuru Jos, who are on study tour and fact-finding mission to Abia state. The Governor, who commended the participants for the choice of Abia for the tour, described the study theme: 'Digital Economy,Youth Empowerment and Sustainable…

May

2024

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By Abia ThinkTank

Many Churches In Nigeria Are Set Up Just For Business Purposes – Catholic Bishop Laments

Columns/Opinions/Letters, Business, News Flash, Religion

Many Churches In Nigeria Are Set Up Just For Business Purposes – Catholic Bishop Laments The Catholic Bishop of Yola, Stephen Mamza, has lamented the growing number of churches in the country set up as commercial ventures to make money for the owner(s). The cleric lamented that many people are going into ministry and setting up churches just to make money and live in affluence. Speaking on Sunday at St Augustine’s Catholic Church, Bekaji, Yola, where he presided over a Mass to mark this year’s World Communications Sunday of the Catholic Church, Bishop Mamza said many people just want to…

May

2024

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By Abia ThinkTank

16 Banking Transactions Not Affected By New CBN’s Cyber security Levy

CBN/Commercial Banking, Business, Economy, News Flash

16 Banking Transactions Not Affected By New CBN’s Cybersecurity Levy The Central Bank of Nigeria (CBN) has ordered all banks to start charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country excluding 16 listed banking deals. According to a circular signed by the Director, Payments System Management Department, Chibuzo Efobi; and the Director, Financial Policy and Regulation Department, Haruna Mustafa; the cybersecurity would commence two weeks from May 6, 2024. The apex bank, in the circular, directed to all commercial, merchant, non-interest, and payment service banks, among others; to start the implementation of the cybersecurity…

May

2024

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By Abia ThinkTank

2024 UTME: Pure Water Seller Who Dropped Out 2 Years Ago Scores 309

Business, Education, News Flash, South East

2024 UTME: Pure Water Seller Who Dropped Out Two Years Ago Scores 309 A pure water seller, Ugwu Augustus, has reportedly secured a full scholarship into the university after scoring 309 in the 2024 Unified Tertiary Matriculation Examination. According to Alex Onyia, the founder of Educare, an organisation that prepares candidates for UTME, Augustus left school two years ago. However, he was challenged to join the preparatory class and score above 300 to get a full scholarship. “This youngster from my village, Ugwu Chibuzo Augustus, scored 309 in JAMB. “He left school two years ago and has been selling pure…

May

2024

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By Abia ThinkTank

FG Reduces Electricity Tariff For Consumers

Business, FGN, News Flash, Power & Energy

FG Reduces Electricity Tariff For Consumers The Federal Government has approved a downward review in electricity tariff for Band A customers (Those with a daily supply of minimum of 20 hours). Under the approved review,Band A customers who hitherto were charged N225/Kwh are now to pay N206.80/Kwh. The decision to crash the tariff may not be unconnected with public outcry over the increase in electricity which industry observers, CSOs, labour unions have described as insensitive. Already, electricity distributors are sending the reduction notice to their customers. In a notice to its customers on Monday, Ikeja Electric said “Please be informed…

May

2024

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By Abia ThinkTank

Tinubu Hurriedly Awarded Lagos-Calabar Coastal Road Contract To Chagoury Group Because His Son, Seyi Is On Its Board – Atiku

Business, FGN, Gossips, News Flash, Politics

Tinubu Hurriedly Awarded Lagos-Calabar Coastal Road Contract To Chagoury Group Because His Son, Seyi Is On Its Board – Atiku Former Vice-President Atiku Abubakar, on Sunday, said that the reason President Bola Tinubu hurriedly awarded the Lagos-Calabar coastal highway project to Chagoury Group is because of his son, Seyi’s interest in the company. According to a statement issued by his Media Adviser, Paul Ibe, Atiku insisted that Seyi was on the board of CDK Integrated Industries, a subsidiary of the Chagoury Group, owned by one of the president’s business allies, Gilbert Chagoury. Atiku described it as a conflict of interest…

May

2024

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By Abia ThinkTank

Tinubu Created A Mess In 2023, 97% Of Companies Can’t Pay Dividends – Dangote

Business, Economy, FGN, News Flash

Tinubu Created A Mess In 2023, 97 Per Cent Of Companies Can’t Pay Dividends – Dangote The floating of the naira by President Bola Tinubu’s administration has been described by the Chairman of Dangote Industries Limited, Aliko Dangote as the biggest mess that affected his company and other business owners in 2023. According to Sahara Reporters, the remark was made by Dangote on Tuesday at the Annual General Meeting of Dangote Sugar Refinery Plc. According to Dangote, many businesses were affected by the policy adding that several manufacturing enterprises were impacted and suffered operational losses due to variations in the…

Apr

2024

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By Abia ThinkTank

US Embassy In Nigeria Hosted Georgetown University Business School USA At The Ikoyi Residence Of The Consulate

Business, Foreign Affairs, Lagos, News Flash

Georgetown University Business School USA Team was Hosted by US Embassy in Nigeria at the Ikoyi Residence of the Consulate General The delegation was accompanied by reputable, distinguished, and most powerful Nigerians. In attendance includes: Engr. Tein Jack-Rich CON, Amb. Dr. Osita Offor - Ultimate Commander, Media Executive, Efe Omorogbe, Olisa Adibua, Executives of MTV Based, Executives of Chocolate City, Executive Director Multichoice, Prince Felix Awogu among others. The Georgetown University Business School, USA delegation, Mr. Omar Wilson and Ms. Mika Rhabb was introduced to make their presentation of the life-changing project to the US Embassy officials in Lagos. The…