Economy

Gov Otti Attended Business Event In Maryland, USA

Gov Otti Attended Business Event In Maryland, USA

Yesterday, Gov Otti had the pleasure of participating in a business event in Maryland, United States, centred on the theme of "Empowering Economic Opportunities between the US and Nigeria." It was an honour to engage with the business community of Maryland, alongside the visionary County Council members of Bowie City and Prince George's Town, Roxy Ndebumadu, and Wala Blegay I would like to express my gratitude to Dr. Charles Olawale for hosting this important summit. It is imperative that we continue to cultivate relationships and establish networks that will elevate Abia State and Nigeria to unprecedented levels of economic prosperity.
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Kenyan Police Arrest Binnance Executive Who Escaped From Nigeria

Kenyan Police Arrest Binnance Executive Who Escaped From Nigeria

Kenyan Police Arrest Binance Executive Who Escaped From Nigeria The Kenya Police Service has arrested fleeing Binance executive, Nadeem Anjarwalla, as the International Criminal Police Organisation moves to extradite him to Nigeria within the week. Government sources familiar with the case who spoke on condition of anonymity because they were not authorised to speak on the matter confirmed the development to our correspondent on Sunday night. One of the sources said, “Binance executive, Nadeem Anjarwalla, has been arrested by the Kenya Police Service, and he would be extradited to Nigeria this week by INTERPOL.” Another source noted, “As we had…
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Nigeria Set To Receive  Fresh $2.2 Billion World Bank Loan

Nigeria Set To Receive Fresh $2.2 Billion World Bank Loan

Nigeria Set To Receive Fresh $2.2 Billion World Bank Loan The Federal Government is set to receive around $2.2 billion single-digit interest loan from the World bank and another budget support facility from the African Development Bank. Minister of Finance, Wale Edun, disclosed this during a press briefing at the end of Nigeria’s activities at the World Bank/International Monetary Fund Spring meeting in Washington DC, the United States on Saturday. Speaking on the sources of international funding to the Nigerian economy, Edun listed diaspora remittances, foreign portfolio investments, and facilities from the World Bank and other international development partners. He…
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Presidential CNG Initiative Set For Rollout

Presidential CNG Initiative Set For Rollout

Presidential CNG Initiative Set For Rollout After the removal of the wasteful fuel subsidy on May 29, 2023, President Bola Ahmed Tinubu launched the Presidential CNG Initiative in October last year to deliver cheaper, safer and more climate friendly energy. The CNG Initiative was designed to deliver compressed natural gas especially for mass transit. The Federal Government as part of the many intervention programmes to reduce the burden of increase in pump price on the masses, provided N100 billion (part of the N500 billion palliative budget) to purchase 5500 CNG vehicles (buses and tricycles), 100 Electric buses and over 20,000…
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Arrest Okezie Ikpeazu Without Further Delay – Dr. Engr. Odo Ijere

Arrest Okezie Ikpeazu Without Further Delay – Dr. Engr. Odo Ijere

ARREST OKEZIE VICTOR IKPEAZU NOW. The social media, mainstream media, the rumor mills, propaganda mills etcetera are inundated with Dr. Alex Otti's testament in far away John Hopkins lecture in the USA where he jolted the listening world with shock over another made in Nigeria leadership dystopia. Governor Alex Otti made mind blowing revelations of Victor Ikpeazu heists that made OUK and TAO regimes look like kindergarten era in corruption. A whopping N107 Billion was discovered by forensic auditors to have been paid to non existent contractors, bogus contractors and at times phoney contractors with no modicum of value to…
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President Tinubu Appoints New NAICOM Board

President Tinubu Appoints New NAICOM Board

Tinubu Appoints New Board For NAICOM President Bola Tinubu has announced the appointment of a new board for the National Insurance Commission (NAICOM) with immediate effect. This was contained in a statement on Friday by Special Adviser to the President on Media and Publicity, Ajuri Ngelale. The new board members are seasoned professionals with a wealth of experience in the insurance industry. The new Board is comprising of Ms. Halima Kyari as Chairperson; Mr. Olusegun Ayo Omosehin as Commissioner for Insurance; Mr. Olawoye Gam-Ikon as Deputy Commissioner (Technical Operations); and Dr. Usman Ankara Jimada as Deputy Commissioner (Finance & Administration).…
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FG, States, LGs Share N1.123 Trillion In March

FG, States, LGs Share N1.123 Trillion In March

FG, States, LGs Share N1.123 Trillion In March The Federation Account Allocation Committee has disbursed a total of N1.123tn to the federal, state, and local governments for March 2024. The allocation, derived from a gross total of N1.867tn, marks a critical distribution of funds aimed at supporting various government tiers. This was revealed in a statement signed by the Director of Information and Public Relations, Ministry of Finance, Mohammed Manga, on Friday. Details later…
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CBN Reduces Banks’ LDR To 50%

CBN Reduces Banks’ LDR To 50%

CBN Reduces Banks’ LDR To 50% The Central Bank of Nigeria has announced a review of the loan-to-deposit ratio (LDR) for banks, from 65 percent to 50 percent to align with the current monetary tightening. The CBN disclosed this in a circular on Wednesday titled ‘Re: Regulatory Measures to Improve Lending to the Sector of the Nigerian Economy’, signed by Adetona Adedeji, its acting director of the banking supervision department.
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Dangote Crashes Diesel To N1,000 Per Litre

Dangote Crashes Diesel To N1,000 Per Litre

Dangote Crashes Diesel To N1,000 Per Litre The $20 billion Dangote Petroleum Refinery has slashed the price of diesel by 16.6 per cent to N1,000 per litre, from N1, 200 per litre in order to assist in impacting Nigeria’s domestic economy. The price of diesel was relatively high for months, due mainly to the importation of the product from the global market and foreign exchange crisis associated with it. But in a statement obtained by Vanguard today, the company, stated: “In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to…
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FG Begins Disbursement Of N200 Billion Palliative Loans

FG Begins Disbursement Of N200 Billion Palliative Loans

FG Begins Disbursement Of N200 Billion Palliative Loans The Ministry of Industry, Trade and Investment says it has begun disbursement of the Presidential Conditional Grant Scheme to verified applicants after an exhaustive selection process. The government, through the Bank of Industry, had said it would be disbursing three categories of funding totalling N200bn to support manufacturers and businesses across the country. In a progress report posted on the trade minister’s official X (formerly Twitter) handle on Tuesday, Doris Aniete stated that an unspecified number of beneficiaries have received their grants, adding that by Friday, April 19, another significant disbursement will…
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