Economy - Abia ThinkTank News

Apr

2024

EFCC Grills Bobrisky For Naira Abuse

EFCC Grills Bobrisky For Naira Abuse Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have commenced investigation of Idris Okuneye, a.k.a Bobrisky, for allegedly spraying Naira notes. The EFCC had invited the 31-year old following a video report of spraying and flaunting wads of new Naira notes at the premiere of a movie, Ajakaju, produced by Eniola Ajao, a Nollywood actress and producer, at Film One Circle Mall, Lekki, Lagos on March 24, 2024. Investigation also revealed that he had also committed the alleged offence at some other event centres and parties at different…

Apr

2024

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By Abia ThinkTank

Court Adjourns Binance Tax Evasion Case To April 19

Crime, Business, CBN/Commercial Banking, Economy, Judiciary

Court Adjourns Binance Tax Evasion Case Till April 19 A Federal High Court in Abuja has adjourned the tax evasion case involving Binance Holdings Limited and its executives. The Federal Inland Revenue Service had dragged the firm to court for tax evasion. Also joined in the suit are officials of the company, Tigran Gambaryan, and fleeing Nadeem Anjarwalla. In the suit marked: FHC/ABJ/CR/115/2024, Binance was accused of failing to register with the FIRS for the purpose of paying all relevant taxes administered by the service. The FIRS also alleged that while it was offering taxable services to subscribers on its…

Apr

2024

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By Abia ThinkTank

Edo Refinery Received 15,000 Barrels Of Crude From Oza Oil

Business, Economy, News Flash, Oil & Gas

Edo Refinery Receives 15,000 Barrels Of Crude From Oza Oil The Edo Refinery has received a total of 15,000 barrels of crude oil in 2024 for production from the Oza Oil Field operated by Decklar Resources Inc. and Millenium Oil and Gas Company Limited. The Chief Executive Officer of Decklar Resources, Sanmi Famuyide, who disclosed this in a statement on Wednesday, noted that the company has continued ongoing crude oil injection volumes into the Trans Niger Pipeline for transport to and export from the Bonny Export Terminal. The refinery was developed by the Edo Refinery and Petrochemical Company Limited and…

Mar

2024

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By Abia ThinkTank

Gov Otti’s Miracle In ABIA Continues Vol 2: The Midas Touch – By Miracle Chukwunenye

Abia State, Columns/Opinions/Letters, Economy, Good Governance

GOV OTTI'S MIRACLE IN ABIA CONTINUES vol 2: THE MIDAS TOUCH by Miracle Chukwunenye This is not London nor Dubai, this is the linking point of three very strategic roads that connects other numerous road locations in Aba, linking NGWA ROAD, PEPPLES ROAD and EMELOGU ROAD. NGWA ROAD as a major road in Aba with over 6.1km was in the past abandoned to the mercy of dilapidation, ruins and utmost disrepair, this road aside linking with the two aforementioned roads also leads to ASA ROAD as it has its endpoint at No. 1 PORTHARCOURT ROAD, crossing over to the notable…

Mar

2024

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By Abia ThinkTank

Zenith, UBA, Access And 4 Others Exceeds CBN Minimum Capital Requirement

CBN/Commercial Banking, Economy, News Flash

Zenith, UBA, Access And 4 Other Banks Exceeds CBN Minimum Capital Requirement Days after urging Nigerian banks to expedite action on the recapitalisation of their capital base in order to strengthen the financial system, the Central Bank of Nigeria (CBN) on Thursday, unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at N500 billion. This is from the current minimum capital base of N50 billion for an international banking licence while the national bank capital requirement is at N25 billion.The regional banking licence was put at N10 billion, and the merchant…

Mar

2024

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By Abia ThinkTank

Gov Otti Speaks On Payment Of Pension Arrears, Announced Reconstruction Of Obohia, Ohanku Roads In Aba

Abia State, Economy, Good Governance, News Flash

GOV OTTI SPEAKS ON PAYMENT OF PENSION ARREARS, ANNOUNCES RECONSTRUCTION OF OBOHIA, OHANKU ROADS IN ABA Abia State Governor, Dr. Alex Otti, OFR, has announced the commencement of work to reconstruct the dilapidated Obohia Road, while work on Ohanku Road, both in Aba, will begin immediately after the Easter holidays. This comes as the Abia Governor also declared that pensioners, who were owed several months arrears of pensions by previous administrations, can now heave a sigh of relief as they will effective today, March 28, 2024, begin to receive arrears of their pensions. Governor Otti, who broke these pieces of…

Mar

2024

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By Abia ThinkTank

CBN Raises Commercial Banks Capital Base To N500 Billion

CBN/Commercial Banking, Business, Economy, News Flash

CBN Raises Commercial Banks Capital Base To N500 Billion The Central Bank of Nigeria has announced the increment of the capital base for commercial banks with international authorisation to N500bn and national banks to N200bn. The apex bank announced this in a statement signed by its Acting Director, Corporate Communications, Sidi Ali, in Abuja on Thursday. The CBN’s move mandates substantial increases in the minimum capital base for banks, varying by the scope of their operations. The latest policy directive specifies that commercial banks with international authorisation are now required to shore up their capital base to N500bn. She added…

Mar

2024

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By Abia ThinkTank

Abia House Of Assembly Sent Delegates To Innoson CEO At Nnewi…

Business, Economy, Good Governance, House Of Assembly, News Flash

Yesterday, I led a delegation from the Abia State House of Assembly and some members of Labour Party who are in Nnewi for Labour Party Convention to Chief Innocent Chukwuma, the CEO of Innoson Vehicles , at his residence in Nnewi, Anambra State. Our discussions centered on the ongoing manufacturing of special brand official vehicles for the 24 House of Assembly members of Abia State. We received assurances that these 24 official vehicles would be delivered to us by April 2024. The present Abia State Government remains committed to patronizing locally made products to stimulate the growth of the Naira.…

Mar

2024

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By Abia ThinkTank

Binnance Executive Sues NSA, Ribadu, EFCC

Economy, Judiciary, News Flash

Binance Executive Sues NSA Ribadu, EFCC The detained Binance executive, Tigran Gambaryan, has sued the National Security Adviser (NSA) Nuhu Ribadu, and the Economic Financial Crimes Commission (EFCC) over alleged violation of his fundamental human rights. In the originating motion dated and filed March 18 by his lawyer, Olujoke Aliyu, from Aluko and Oyebode Law Firm, Gambaryan sought five reliefs before Justice Inyang Ekwo. Similarly, Nadeem Anjarwalla, the Binance’s Africa regional manager who escaped from lawful custody on March 22, filed a separate right enforcement suit before Justice Ekwo. Gambaryan and Anjarwalla, in the suits marked: FHC/ABJ/CS/356/24 and FHC/ABJ/CS/355/24, had…

Mar

2024

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By Abia ThinkTank

“Ako Bu Ije”: Being Communique Issued By Igbo Leaders At The End Of Its Retreat At Enugu…

Culture, Economy, News Flash, South East

THE COMMUNIQUÉ ISSUED BY IGBO LEADERS AT THE END OF ITS RETREAT AT THE OLD GOVERNOR’S LODGE, ENUGU STATE ON WEDNESDAY, MARCH 27, 2024. In a bid to reposition the Igbo nation in Nigeria and in line with current trends, national and global realities, the Ohanaeze Ndigbo Worldwide under the leadership of Engr. Dr. Emmanuel Chukwuemeka Iwuanyanwu, CFR, OFR, MFR, FNSE, FNICE, FNIST, FNIEE, GCSI,, KSC (Ahaejiagamba Ndigbo), organized a One-Day Retreat with the theme “Ako bu Ije” on Wednesday, March 27, 2024 at the Old Governor’s Lodge, Enugu State.. The Retreat, which was attended by distinguished Igbo sons and…