Economy - Abia ThinkTank News

Mar

2024

Binance Speaks As FGN Declared Crypto Giants Official Missing

Business, CBN/Commercial Banking, Crime, Economy, News Flash

Binance Speaks As FG Declares Crypto Giant’s Official Missing Global cryptocurrency exchange platform, Binance has reacted to reports that its official, Nadeem Anjarwalla, had escaped from detention in Nigeria. Confirming the report, spokesperson for Binance, Samantha Fuller, said that Anjarwalla was no longer in Nigeria. The crypto exchange said its concern continues to be the safety and well-being of its employees, and it is actively collaborating with Nigerian authorities to swiftly resolve the matter. “We were made aware that Nadeem is no longer in Nigerian custody. Our primary focus remains on the safety of our employees, and we are working…

Mar

2024

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By Abia ThinkTank

Just In: Detained Binnance Executive Escapes From Custody In Nigeria

Crime, Economy, News Flash, Security

Detained Binance Executive Escapes From Custody In Nigeria Nadeem Anjarwalla, one of the two Binance executives detained in Nigeria for alleged tax evasion and other offences, has escaped from lawful custody, those familiar with the matter have told PREMIUM TIMES. Our sources said Mr Anjarwalla, 38, escaped on Friday, 22 March, from the Abuja guest house where he and his colleague were detained after guards on duty led him to a nearby mosque for prayers in the spirit of the ongoing Ramadan fast. The Briton, who also has Kenyan citizenship, is believed to have flown out of Abuja using a…

Mar

2024

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By Abia ThinkTank

Economic Hardship: Tinubu Cancels His 72nd Birthday Celebration

Columns/Opinions/Letters, Birthday, Economy, News Flash

HARDSHIP: Tinubu Cancels His 72nd Birthday Celebration As Nigerians continue to experience hardships occasioned by policy reforms of the government, President Bola Tinubu has cancelled any form of celebration for his 72nd birthday. President Tinubu according to the statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, will clock 72 years on March 29. But the President has advised his associates and well-wishers that intend to celebrate with him on that day to channel their donation to charity organisations. President Tinubu, in the statement by Onanuga, banned any form of advertorial placement in newspapers, radio or television…

Mar

2024

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By Abia ThinkTank

Economic Hardship: 4 Persons Die In Stampede During Almsgiving Exercise

Economy, Gossips, News Flash

Four Persons Killed In Stampede During Almsgiving Exercise Four persons on Sunday died in a stampede during an almsgiving zakat exercise for the poor in Bauchi State. The stampede occurred at the Shafa Holdings Company plc headquarters along Jos Road, on Sunday at about 10 am. A 17-year-old identified as Naima Abdullahi, is currently receiving medical treatment at the Abubakar Tafawa Balewa University Teaching Hospital in Bauchi. Confirming the incident, the Police Public Relations Officer in the state, Ahmed Wakili, said the situation has been stabilized as at the time of filing his report. Wakili said the police acted swiftly…

Mar

2024

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By Abia ThinkTank

We Are Happy With The Transformation Going On In Abia State, Abians In New York Tell Mrs. Otti

Abia State, Economy, Good Governance, News Flash

WE ARE HAPPY WITH THE TRANSFORMATION GOING ON IN ABIA STATE, ABIANS IN NEW YORK TELL MRS. OTTI. In a heartwarming display of solidarity and appreciation, Abians in New York City, United States and Environs have expressed their satisfaction over the ongoing development in different spheres of governance in Abia State. They made this disclosure at an event organized by Abia State Association, New York in honour of Abia First Lady, Mrs. Priscilla Chidinma Otti. Mrs. Otti while attending the UN CSW 68th Session in New York US used the opportunity to engage with some members of the Abia community…

Mar

2024

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By Abia ThinkTank

“The Days Of Blood Tonic Politics Are Over In Abia” – Gov Otti Charges Heads Of Ministries And Agencies

Abia State, Economy, Good Governance, IGR, News Flash, Politics

"The Days Of Blood Tonic Politics Are Over" - Gov Otti Charges Heads Of Ministries And Agencies GOV OTTI CHARGES MINISTERIAL, AGENCY HEADS ON STRATEGIES TO SHORE UP INTERNAL REVENUE Abia State Governor, Dr. Alex Otti, OFR, has charged heads of the various ministries, departments and agencies (MDA) of government on the need to come up with workable and enduring strategies that would lead to the improvement of the State's Internally Generated Revenue (IGR). Governor Otti gave the charge at Government House, Umuahia, on Saturday, during a follow-up retreat where the MDA heads led their teams to present strategies to…

Mar

2024

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By Abia ThinkTank

Naira At N400 To Dollar Unrealistic – Kingsley Moghalu

CBN/Commercial Banking, Economy, News Flash

Naira At N400 To Dollar Unrealistic – Kingsley Moghalu A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has faulted the position of those expecting naira to stabilise at N400 to the dollar, describing it is unrealistic He wrote, “Those who want the Naira to be N400 to the $ are living in a dream world. Even discounting for the negative impact of speculative attacks on the value of the Naira, the exchange rate will (and should) reflect its market value in reality, not the artificiality that the Emefiele era central bank sought to maintain to please…

Mar

2024

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By Abia ThinkTank

N193 Billion Intervention Loans In Nigeria Declared Lost – CBN

CBN/Commercial Banking, Business, Economy, News Flash

N193 Billion Intervention Loans In Nigeria Declared Lost – CBN A report by the Central Bank of Nigeria, CBN, has revealed that out of the total loans of N10.3 trillion disbursed as intervention, N193 billion has been declared lost, and another N418.9 billion remains doubtful According to a CBN report published in September 2023, the bank’s intervention funds breakdown over the years is detailed. According to the report, out of the N10.3 trillion in intervention funds, less than N4.4 trillion has been repaid. In contrast, approximately N5.8 trillion remains outstanding. Some loans are tenured, meaning they only fall due when…

Mar

2024

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By Abia ThinkTank

Gov Otti Will Flag Off 2024 Farming Season For ABIA North Today

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

GOVERNMENT SPECIAL ANNOUNCEMENT His Exellency, the Executive Governor of Abia State Dr Alex Chioma Otti ( OFR) will tomorrow, 21ist of March 2024 perform the official flag off of 2024 farming season for Abia North Senatorial Zone of the State. A release signed by the Honorable Commissioner Ministry of Agriculture Professor Monica Ironkwe puts the venue at Bende Local Government Area Headquarters while time is 10am. The release invites the Deputy Governor of Abia State, the secretary to the State Government, the chief of Staff, the chief Judge of Abia State, the Speaker Abia State House of Assemble, all the…

Mar

2024

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By Abia ThinkTank

CBN Clears All Fx Backlogs As External Reserves Rise To $34.11 Billion

CBN/Commercial Banking, Economy, News Flash

CBN Clears All FX Backlogs As External Reserves Rise To $34.11 Billion The Central Bank of Nigeria (CBN) has cleared the $7 billion foreign exchange (FX) backlog inherited by Governor Yemi Cardoso. In a statement on Wednesday, CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, confirmed the settlement of all valid FX backlog claims. She said the CBN engaged Deloitte Consulting, an independent auditing firm, to meticulously assess the transactions, ensuring that only legitimate claims were honoured. “Any invalid transactions were referred to the relevant authorities for further investigation,” she stated. This development comes just as the external…