Economy - Abia ThinkTank News

Oct

02

2024

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By Abia ThinkTank

ICPC Recovers N13 Billion Diverted Public Funds In September

Crime, Economy, News Flash

ICPC Recovers N13 Billion Diverted Public Funds In September The Chairman, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr Musa Aliyu, on Wednesday revealed that the anti-graft agency recovered diverted public funds to the tune of N13 billion in the month of September only. Aliyu made the revelation in his welcome address at the launch of the commission’s 2024-2028 Strategic Action Plan in Abuja, saying ICPC had make significant progress in the fight against corruption on Nigeria. Describing the recovery as a remarkable achievement, the chairman said it was a testament to ICPC’s relentless efforts aimed at combating…

Oct

01

2024

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By Abia ThinkTank

Minimum Wage: FGN Raises Retiree’s Pension By N32,000

Economy, FGN, Labour, News Flash

Minimum Wage: FG Raises Retirees’ Pension By N32,000 Following the consequential adjustment in salary structures by the committee set up by the government to review the new minimum wage, retirees will now receive an increment of N32,000 in their monthly pensions. This was revealed in a memo by the National Salaries, Wages, and Income Commission, sighted on Monday by The PUNCH. According to the memo, dated September 27, 2024 and signed by the Chairman of the NSIWC, Ekpo Nta, the affected retirees are those who retired under the salary schemes for doctors, health workers, lecturers, police, paramilitary, armed forces, and…

Sep

30

2024

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By Abia ThinkTank

World Bank Approves $1.57Billion Loan In Financing For Nigeria

CBN/Commercial Banking, Economy, FGN, News Flash

World Bank Approves $1.57 Billion Loan For Nigeria The World Bank has approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal Government in strengthening human capital through better health for women, children and adolescents. It added that the approved projects would also help build resilience to the effect of climate change such as floods and drought through improving dams safety and irrigation. The statement read, “The World Bank has today approved three operations for a total of $1.57bn to support the Government of Nigeria…

Sep

29

2024

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By Abia ThinkTank

FGN To Distribute 2,000 CNG-Powered Tricycles To Youths Across Nigeria From October 1st

Economy, FGN, News Flash

FG To Distribute 2,000 CNG-Powered Tricycles To Youths Across Nigeria From October 1st The Federal Government, through the Presidential Compressed Natural Gas Initiative (PCNGi), will begin the distribution of 2,000 CNG-powered tricycles to youths in the transportation sector across Nigeria starting October 1st, 2024. The initiative aims to distribute 2,000 CNG-powered tricycles to youths in the transportation sector across the country, as part of efforts to address rising transportation costs and promote more sustainable and affordable mobility options. In an X (formerly Twitter) post on Saturday, PCNGi highlighted that the program is part of the Tinubu administration’s broader strategy to…

Sep

29

2024

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By Abia ThinkTank

Binnance Founder, Zhao Released After Serving 4 Months

Crime, Economy, News Flash

Binance Founder, Zhao Released After 4 Months Changpeng Zhao, the founder of Binance and a key figure in the global cryptocurrency industry, has been released. He was released from a California correctional facility after serving a four-month sentence for failing to enforce anti-money laundering protocols on his exchange. The 47-year-old, widely known as “CZ,” returned to the US from Dubai earlier this year to face charges and serve time linked to regulatory breaches at Binance, the world’s largest crypto exchange by trading volume. His release came two days ahead of schedule due to standard practices when release dates fall on…