Economy - Abia ThinkTank News

Apr

2024

How Emefiele Got $600,000 Cash As Kickback From Contractors – Ex-CBN Director Reveals

CBN/Commercial Banking, Crime, Economy, News Flash

How Emefiele Got $600,000 Cash As Kickback From Contractors – Ex-CBN Director Reveals A former director at the Central Bank of Nigeria (CBN), John Ikechukwu Ayoh, has made some allegations against the embattled former governor of the apex bank, Godwin Emefiele. Ayoh made the allegations while testifying in an ongoing case of abuse of office at the Lagos High Court on Monday, April 29. Emefiele and his co-defendant, Henry Omoile, are currently facing trial on a 26-count charge. The duo have, however, pleaded not guilty to all the charges. At the court proceedings on Monday, the Economic and Financial Crimes…

Apr

2024

0 Comments

By Abia ThinkTank

Governor Alex Otti OFR: The Audacity Of Success And Finesse – By Charles Nwangwa(Akaji-ugo)

Abia State, Economy, Good Governance, News Flash

GOVERNOR ALEX OTTI OFR: THE AUDACITY OF SUCCESS AND FINESSE. I can confirm and attest thatHis Excellency Dr Alex Otti OFR is a fine and consummate gentleman, classy and with extant taste. In 2019 when I contested with him under APGA I was so amazed at his distinctive and all encompassing home that I humbly requested that we will take over his NVOSI, ISIALANGWA home to serve as GOVERNMENT HOUSE/GOVERNOR’s Office till he replicates it for Abians. Prior to his ascendancy as Governor every visitor to his house will have lunch, a sumptuous one. Each guest has choice of the…

Apr

2024

0 Comments

By Abia ThinkTank

President Tinubu Appoints Jim Ovia Chairman Of The Nigerian Education Loan Fund

CBN/Commercial Banking, Economy, News Flash, Politics

STATE HOUSE PRESS RELEASE PRESIDENT TINUBU APPOINTS JIM OVIA AS CHAIRMAN OF THE NIGERIAN EDUCATION LOAN FUND President Bola Tinubu has approved the appointment of Mr. Jim Ovia, CFR, renowned banker and businessman, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). Mr. Ovia is the founder of one of Nigeria's leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians. He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana. The National Student Loan Programme…

Apr

2024

0 Comments

By Abia ThinkTank

EFCC Arrests 34 Suspected Currency Speculators In Abuja

CBN/Commercial Banking, Economy, News Flash

EFCC Arrests 34 Suspected Currency Speculators In Abuja Operatives of the Economic and Financial Crimes Commission, EFCC on Friday arrested 34 suspected currency speculators for alleged foreign exchange fraud at the Wuse Zone 4 area of the Federal Capital Territory, FCT Abuja. The suspected currency traffickers were arrested in a sting operation following credible intelligence about illegal sales of dollars, Dele Oyewale, spokesperson for the anti-graft agency said in a statement. The suspects were arrested by EFCC operatives attached to the Taskforce on Currency Mutilation, Dollarization of the Economy and Forex Malpractice. According to the statement, the arrest of the…

Apr

2024

0 Comments

By Abia ThinkTank

President Tinubu Proposes New Minimum Wage For Nigerian Workers

Economy, Labour, News Flash

President Tinubu Proposes New Minimum Wage For Nigerian Workers, Details Emerge The federal government of Nigeria, led by President Bola Tinubu, is proposing a new minimum wage of N150,000 to N200,000 for the organized sector. Meetings with organized labor leaders are scheduled to discuss this at the office of the SGF. Labor leaders are advocating for a living wage that can sustain workers amidst rising living costs. Under the leadership of President Bola Tinubu, the federal government is reportedly planning to introduce a new minimum wage ranging from N150,000 to N200,000 for workers in the organised sector. This initiative comes…

Apr

2024

0 Comments

By Abia ThinkTank

Nigeria Revokes 924 Dormant Mining Licences

Economy, FGN

Nigeria Revokes 924 Dormant Mining Licences In furtherance of efforts to sanitise Nigeria’s mining sector, the federal government has revoked 924 dormant licences spanning exploration, mining, small-scale mining, and quarrying. Minister of Solid Minerals Development, Mr. Dele Alake announced the revocation at a press conference on Wednesday. He declared that in line with constitutional provisions, adequate notice was given to all concerned parties through the official Gazette of the Federal Republic of Nigeria, No. 227, which was published on December 27, 2023. ” The notice gave all concerned parties 30 days to regularise their status, including clarifications on what caused…

Apr

2024

0 Comments

By Abia ThinkTank

Missing ABIA Airport: We Are More Interested In Recovering Our Money, Than Fighting A Man That’s Already Down – Ferdinand Ekeoma(SA, Media & Publicity To Gov Otti)

Abia State, Columns/Opinions/Letters, Economy, News Flash, South East

MISSING ABIA AIRPORT: WE ARE MORE INTERESTED IN RECOVERING OUR MONEY, THAN FIGHTING A MAN THAT'S ALREADY DOWN. The only thing worse than a liar is a liar that’s also a hypocrite!” – Tennessee Williams. For the records, the Alex Otti government took a firm decision on assumption of office not to allow the discussion of former government of Dr. Okezie Ikpeazu or those of his predecessors occupy the front burner in his administration so that they wouldn't constitute a distraction, given the enormity of the task ahead . However, like Philosopher George Santayana said "those who don't know their…

Apr

2024

0 Comments

By Abia ThinkTank

Gov Otti Attended Business Event In Maryland, USA

Abia State, Economy, Good Governance, International, News Flash

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.

Apr

2024

0 Comments

By Abia ThinkTank

Kenyan Police Arrest Binnance Executive Who Escaped From Nigeria

Crime, Economy, News Flash

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…

Apr

2024

0 Comments

By Abia ThinkTank

Nigeria Set To Receive Fresh $2.2 Billion World Bank Loan

CBN/Commercial Banking, Economy, Good Governance, News Flash

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…