Economy

Mar
26
2024
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By Abia ThinkTank
CBN Raises Interest Rate To 24.75%

CBN Raises Interest Rate To 24.75%

Business, CBN/Commercial Banking, Economy, News Flash
CBN Raises Interest Rate To 24.75 Percent The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new interest rate is a jump from the 22.75 percent announced by the MPC about a month ago. It is the second rate hike by the committee in two months. Details later…
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Mar
25
2024
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By Abia ThinkTank
CBN Sell $10,000 To BDCs @ N1,251/$

CBN Sell $10,000 To BDCs @ N1,251/$

Business, CBN/Commercial Banking, Economy, FGN, News Flash
CBN Sell $10,000 To BDCs @ N1,251/$ The development comes after the CBN’s prolonged ban on forex sales to BDC operators. In the circular signed by the bank’s Director of Trade and Exchange Department, Dr Hassan Mahmud, on Monday, each BDC is directed to sell the purchased dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price, which translates to a maximum selling rate of N1,269/$1. The CBN had previously announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country in February, marking a significant…
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Mar
25
2024
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By Abia ThinkTank
NSA Arrest Officials Responsible For Escape Of Binance Executive

NSA Arrest Officials Responsible For Escape Of Binance Executive

Business, CBN/Commercial Banking, Crime, Economy, News Flash
NSA Confirms Escape Of Binance Executive, Arrests Officials Responsible The Office of the National Security Adviser (ONSA) has confirmed the escape of Nadeem Anjarwalla, the Binance regional manager for Africa. A statement by Zakari Mijinyawa, head of strategic communication at ONSA, said “preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport”. “The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,” the statement reads. Nadeem Anjarwalla, one of the two Binance executives detained in Nigeria for alleged…
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Mar
25
2024
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By Abia ThinkTank
Binance Speaks As FGN Declared Crypto Giants Official Missing

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…
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Mar
25
2024
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By Abia ThinkTank
Just In: Detained Binnance Executive Escapes From Custody In Nigeria

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…
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Mar
25
2024
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By Abia ThinkTank
Economic Hardship: Tinubu Cancels His 72nd Birthday Celebration

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…
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Mar
25
2024
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By Abia ThinkTank
Economic Hardship: 4 Persons Die In Stampede During Almsgiving Exercise

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…
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Mar
25
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

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…
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Mar
25
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

“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…
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