Economy

May
30
2024
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By Abia ThinkTank
President Uyo Chambers Of Commerce Cries Out: Igbos Have Taken Over A’Ibom Economy – By Nsikan Ikpe

President Uyo Chambers Of Commerce Cries Out: Igbos Have Taken Over A’Ibom Economy – By Nsikan Ikpe

Economy, Business, News Flash, South East
President Uyo Chambers of Commerce Cries Out:Igbos Have Taken Over A’Ibom Economy By Nsikan Ikpe The president of Uyo Chambers of Commerce, Industries, Mines and Agriculture, Obong Ukpong Dan Umoh has expressed concern over the dominance of the Akwa Ibom economy by the Igbos, saying it is time indigenous business people in the state woke up to face the risk involved in business. Ukpong Dan Umoh who was speaking exclusively to The Southern Details at the secretariat of the Uyo Chambers of Commerce, recently, said commerce in Akwa Ibom State is completely dependent on the Igbos. “If we don’t buy…
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May
30
2024
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By Abia ThinkTank
On The Wings Of Big Dreams – Being Gov Otti’s Speech At The Flag Off Of The Urban Renewal & Public Transportation Project

On The Wings Of Big Dreams – Being Gov Otti’s Speech At The Flag Off Of The Urban Renewal & Public Transportation Project

Abia State, Economy, Good Governance, News Flash, Transportation
On the Wings of Big Dreams BEING THE TEXT OF SPEECH DELIVERED BY GOVERNOR ALEX C. OTTI, OFR, AT THE FLAG-OFF OF THE ABIA URBAN RENEWAL & PUBLIC TRANSPORT PROJECT IN ABA ON TUESDAY, MAY 28, 2024 Protocols, Let me with great joy, welcome everyone who has joined us for the formal flag off of the first phase of the Abia Urban Renewal and Public Transport Project in Aba. Tomorrow (Wednesday, May 29, 2024) in Umuahia, we shall flag off the second phase. The combined infrastructure development and remodelling works shall proceed and run simultaneously in the two major urban…
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May
30
2024
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By Abia ThinkTank
FG Begins Distribution Of Cooking Gas To One Million Homes

FG Begins Distribution Of Cooking Gas To One Million Homes

Economy, FGN, News Flash, Presidency
FG Begins Distribution Of Cooking Gas To One Million Homes The Bola Tinubu-led federal government has commenced the free distribution of filled cooking gas cylinders to rural women in the Federal Capital Territory (FCT), Abuja. The minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, flagged off the distribution exercise in Abuja on Tuesday, May 28. The Federal Ministry of Petroleum Resources is carrying the initiative under the Decade of Gas outreach programme. The project, Politics Nigeria understands, has a target of 250,000 households across the country annually over the next four years. The ministry distributed the cylinders to over…
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May
29
2024
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By Abia ThinkTank
NLC Strike Looms As Minimum Wage Committee Meeting Postponed Indefinitely

NLC Strike Looms As Minimum Wage Committee Meeting Postponed Indefinitely

Economy, Labour, News Flash
Strike Looms As Minimum Wage Committee Meeting Postponed Indefinitely The Tripartite committee on minimum wage has postponed its meeting “sine die”, sources familiar with the matter told our correspondent in Abuja on Tuesday. According to Merriam-Webster dictionary, sine die means a situation, “without any future date being designated (as for resumption): indefinitely.” Legal choices, a law website also describes sine die as a Latin word used when a law case has no fixed date for resumption. The Federal Government on Tuesday added a sum of N3,000 to its initially proposed N57,000 minimum wage making it the sum of N60,000 proposed…
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May
28
2024
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By Abia ThinkTank
FG Plans Single-Digit Loan Scheme For Media Houses

FG Plans Single-Digit Loan Scheme For Media Houses

FGN, CBN/Commercial Banking, Economy, News Flash
FG Plans Single-digit Loan For Media Houses Apparently concerned about the high cost of production inputs, the federal government plans to support interested media houses with single-digit loans to keep them in business. Minister of Information and National Orientation, Mohammed Idris, announced the intervention at the ministerial performance briefing to mark the first year of the Tinubu administration in office. He said the proposed loan for media establishments was being coordinated by the Bank of Industry, BOI.He said: “We are also creating an enabling environment for all players and stakeholders in the media and information ecosystem to thrive. “One highlight…
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May
24
2024
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By Abia ThinkTank
Court Seizes $4.7m, N830m, Multi-billion Assets Linked To Emefiele (Full List)

Court Seizes $4.7m, N830m, Multi-billion Assets Linked To Emefiele (Full List)

CBN/Commercial Banking, Crime, Economy, News Flash
Court Seizes $4.7m, N830m, Multibillion Assets Linked To Emefiele (Full List) A Federal High Court sitting at Ikoyi, Lagos has ordered an interim forfeiture of the sums of $4,719,054 million USD, N830,875,611 million, and several properties linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Justice Yellim Bogoro made the order on Thursday, May 23, 2024 following an ex-parte argued by the Economic and Financial Crimes Commission (EFCC) counsel, Bilkisu Buhari and C.C Chineye. “I find merit in the application and same hereby granted as prayed. “The applicant should publish this order in any…
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May
24
2024
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By Abia ThinkTank
Drama As Binnance Executive Gambaryan Slumps In Abuja Court

Drama As Binnance Executive Gambaryan Slumps In Abuja Court

Crime, CBN/Commercial Banking, Economy, News Flash
Drama As Binance Executive Gambaryan Slumps In Abuja Court Thursday’s scheduled proceeding on the trial of the detained Binance executive, Tigran Gambaryan, at the Federal High Court Abuja quickly took a dramatic turn following the defendant’s collapse. Shortly after the matter was called upon by the court registrar for continuation of trial, the defendant did not step forward to the dock. He remained seated at the back as usual. Curious, the trial Judge, Justice Nwite, asked where the 2nd defendant (Gambaryan) was. One of the lawyers in the defence team, who sat beside Gambaryan, assisted him by the side while…
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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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