Economy

May
22
2024
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By Abia ThinkTank
Taraba State Deepens And Consolidates It’s Mineral Resources As A Linchpin Of Wealth Creation – By Chinyemike Torti.

Taraba State Deepens And Consolidates It’s Mineral Resources As A Linchpin Of Wealth Creation – By Chinyemike Torti.

Business, Economy, News Flash, Northern Nigeria
TARABA STATE DEEPENS AND CONSOLIDATES IT'S MINERAL RESOURCES AS A LINCHPIN OF WEALTH CREATION. By Chinyemike Torti. The cornucopia of mineral resources embedded in the bowels of Taraba State which include but not limited to Barytes, Bauxite, Graphite, Limestone, Gypsum, Kaolin, Felspar, Mica, Pyrite, Uranium, Gemstone in recent months has engaged the attention of Governor.Dr Agbu Kefas fervent and march to industrialize. Industry watchers are confident that with all the proactive investments in human capital development anchored on its comparative advantages, presents an opportunity for economic stimulation that will lead to remarkable economic growth. It must be stated with a…
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May
20
2024
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By Abia ThinkTank
CBN Withdraws Circular On Implementation Of National Cyber security Levy

CBN Withdraws Circular On Implementation Of National Cyber security Levy

CBN/Commercial Banking, Economy, News Flash
CBN Withdraws Circular On Implementation Of National Cybersecurity Levy The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing financial institutions to implement the national cybersecurity levy. The circular, issued on May 6, 2024 with reference PSMD/DIR/PUB/LAB/017/004, mandated commercial banks, mobile money operators, and other financial institutions to collect a 0.5 percent levy on all electronic transactions. This move comes amid widespread public criticism and concerns raised by various stakeholders regarding the levy’s potential impact on the financial sector and the overall economy. Critics argued that the levy would be an additional burden on Nigerians already grappling with…
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May
15
2024
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By Abia ThinkTank
Emefiele Arraigned For Printing N684m Notes With N18.96bn, Pleads Not Guilty

Emefiele Arraigned For Printing N684m Notes With N18.96bn, Pleads Not Guilty

CBN/Commercial Banking, Economy, News Flash
Emefiele Arraigned For Printing N684m Notes With N18.96bn, Pleads Not Guilty The Economic and Financial Crimes Commission (EFCC), on Wednesday, arraigned a former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele for approving the printing of N684.5m at the rate of N18.96bn. Emefiele pleaded not guilty to the four count charge when he was arraigned on these counts before Justice Maryann Anenih of the FCT High Court, Abuja. In the four-count charge filed against him, the EFCC alleged that Emefiele disobeyed the direction of law with intent to cause injury to the public during his implementation of the…
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May
15
2024
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By Abia ThinkTank
Gov Otti Says ABIA Will Leverage Digital Technology To Grow Economy

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…
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May
14
2024
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By Abia ThinkTank
Its Official: Tinubu Suspends Cybersecurity Levy

Its Official: Tinubu Suspends Cybersecurity Levy

CBN/Commercial Banking, Economy, News Flash, Presidency
IT’S OFFICIAL: Tinubu Suspends 0.5% Cybersecurity Levy The federal government confirmed on Tuesday the suspension of the implementation of the cybersecurity levy, the imposition of which was recently announced. Minister of Information and National Orientation Mohammed Idris told correspondents after the meeting of the Federal Executive Council (FEC) presided over by President Bola Tinubu at the Presidential Villa in Abuja that the 0.5% levy on electronic transactions has been put on hold to enable the government to review it. He affirmed that the federal government did not want Nigerians to be overburdened at a time when things are already difficult.…
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May
13
2024
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By Abia ThinkTank
Economic Hardship: Church Shares Food, Cash To Less Privileged During Service

Economic Hardship: Church Shares Food, Cash To Less Privileged During Service

Economy, News Flash, Religion
Economic Hardship: Church Shares Food, Cash To Less Privileged During Service GISTSMATE MEDIA reports that the Taraba branch of Deeper Life Bible Church, on Sunday, distributed food items and cash to the less privileged in the state to cushion the effects of the economic hardship on them. Pastor Samuel Omajali, the state director of the church while answering questions from journalists at the end of the combined service to thank God over the just concluded global crusade held by the general overseer of the church, Pastor William Kumuyi in Wukari, expressed worry over the difficult situation citizens were going through.…
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May
12
2024
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By Abia ThinkTank
Tinubu Orders CBN To Suspend Implementation Of Cybersecurity Levy

Tinubu Orders CBN To Suspend Implementation Of Cybersecurity Levy

Economy, Abuja, FGN, News Flash
Tinubu Orders CBN To Suspend Implementation Of Cybersecurity Levy President Bola Tinubu has asked the Central Bank of Nigeria to suspend the implementation of the controversial cybersecurity levy policy and ordered a review. This followed the decision of the House of Representatives, which, last Thursday, asked the CBN to withdraw its circular directing all banks to commence charging a 0.5 per cent cybersecurity levy on all electronic transactions in the country. The CBN on May 6, 2024, issued a circular mandating all banks, mobile money operators, and payment service providers to implement a new cybersecurity levy, following the provisions laid…
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May
11
2024
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By Abia ThinkTank
Canada Fines Binnance $4.38Million For Violating Money Laundering, Terrorist Financing Laws

Canada Fines Binnance $4.38Million For Violating Money Laundering, Terrorist Financing Laws

Crime, Economy, Foreign Affairs, News Flash
Canada Fines Binance $4.38Million For Violating Money Laundering, Terrorist Financing Laws Canada’s anti-money laundering agency has imposed a nearly C$6 million ($4.38 million) fine on cryptocurrency exchange Binance for violating the country’s money laundering and terrorist financing laws. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) on Thursday said Binance had failed to register as a foreign money services business with the intelligence body despite several deadlines. According to Reuters, the anti-money laundering agency added that Binance, which ceased operations in Canada last year, had not reported receiving virtual currency worth C$10,000 or more on 5,902 separate occasions…
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May
11
2024
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By Abia ThinkTank
IMF Advises Nigerian Govt Over Crypto Trading Platforms

IMF Advises Nigerian Govt Over Crypto Trading Platforms

CBN/Commercial Banking, Economy, News Flash
IMF Advises Nigerian Govt Over Crypto Trading Platforms The International Monetary Fund has advised the Nigerian government to ask global crypto trading platforms to register or obtain licences before operating in the country. This recommendation was made in the IMF’s latest staff report, released on Thursday following the conclusion of its 2024 Article IV consultation with Nigeria. According to the report, compelling global crypto trading platforms to register will subject them to regulatory requirements. The IMF emphasised the need for Nigeria to establish a robust regulatory framework to oversee the growing cryptocurrency market, ensuring financial stability and protecting investors. It…
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May
10
2024
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By Abia ThinkTank
Food Security: ABIA To Train 300 Farmers At Nassarawa Farm

Food Security: ABIA To Train 300 Farmers At Nassarawa Farm

Abia State, Economy, Good Governance, News Flash
FOOD SECURITY: ABIA TO TRAIN 300 FARMERS AT NASSARAWA FARM Abia State Governor, Dr. Alex Otti, OFR, has said that one of the ways Nigeria can solve the problem of food security is through the mechanisation of farming and establishing such businesses across the states of the federation. Governor Otti said with this measure, Nigeria would have found a panacea to food security amid rising import cost. The Governor made the call on Thursday during a capacity building training for the first batch of 300 candidates selected for agricultural training at CSS Global Integrated Farms, Nassarawa State. He stressed the…
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