Economy

Jan
20
2024
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By Abia ThinkTank
Emefiele Illegally Obtained $6.2 Million By Impersonating SGF – EFCC

Emefiele Illegally Obtained $6.2 Million By Impersonating SGF – EFCC

Crime, Economy, News Flash
Emefiele Impersonated SGF To Illegally Obtain $6.2 Million – EFCC The Federal Government has for the third time amended the criminal charges it filed against the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele. In the latest amended charge taken before Justice Hamza Muazu of the Federal Capital Territory High Court in Abuja on Thursday, the Economic and Financial Crimes Commission accused Emefiele of impersonating the Secretary to the Government of the Federation to illegally obtain a sum of $6.2m. According to the amended charge marked CR/577/2023, Emefiele, on February 8, 2023, connived with one Odoh Ocheme, who…
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Jan
18
2024
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By Abia ThinkTank
Moving CBN Staff To Lagos Will Disrupt Operations – Northern Elders

Moving CBN Staff To Lagos Will Disrupt Operations – Northern Elders

CBN/Commercial Banking, Economy, News Flash, Politics
Moving CBN Staff To Lagos Will Disrupt Operations – Northern elders The Northern Elders Forum has warned that the movement of key departments of the Central Bank of Nigeria from Abuja to Lagos State may lead to brain drain. The development, the elders said would cause a strain and disruption on the bank’s performance and efficiency. The apex bank, on Sunday, in an internal memo said it was moving some of its departments to Lagos. The move, according to an official of the CBN who spoke on condition of anonymity, is to decongest the apex bank’s head office. Reacting to…
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Jan
18
2024
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By Abia ThinkTank
NG- Cares: ABIA Govt Starts Assisting SMEs With N5.9 Billion Grants

NG- Cares: ABIA Govt Starts Assisting SMEs With N5.9 Billion Grants

Abia State, Economy, Good Governance, News Flash
NG-Cares: Abia Govt Starts Assisting SMEs With N5.9 Billion Grants Abia State Governor, Alex OttiA total of 6,500 small scale business owners in Abia State have benefitted from Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) Program (results area 3). NG-CARES is a program designed to mitigate the negative impact of the COVID-19 pandemic on the livelihoods of poor individuals, farmers, vulnerable households, communities, and owners of micro and small enterprises in Nigeria. The program is subdivided into result area 1, 2 and 3. The result area 1 focuses on increasing social transfers, basic services, and livelihood support to poor…
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Jan
18
2024
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By Abia ThinkTank
Gov Otti Inaugurates Abia State Global Economic Advisory Council

Gov Otti Inaugurates Abia State Global Economic Advisory Council

Abia State, Economy, Good Governance, News Flash
PRESS RELEASE:. INAUGURATION OF THE ABIA STATE GLOBAL ECONOMIC ADVISORY COUNCIL. Abia State Governor, Dr. Alex Otti, OFR, has announced the constitution of the Abia Global Economic Advisory Council (AGEAC) as part of his administration's strategic plan to ensure the overall economic development of the state.Consequently, Governor Otti has appointed 20 distinguished Nigerians with global acclaim to serve on the Council, aimed at building Abia into a self-sustaining economic hub.Those appointed are: Ms. Arunma Oteh, OON – Co-Chair His Highness Khaleefa Muhammad Sanusi II, CON, Co-Chair Mr. Bolaji Balogun - Co-Chair Mr. Victor Onyenkpa – Member Mrs. Ifueko Omoigui Okauru,…
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Jan
17
2024
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By Abia ThinkTank
$8.9 Million Looted Under Jonathan Regime To Be Returned By US

$8.9 Million Looted Under Jonathan Regime To Be Returned By US

Crime, Economy, International
US To Return $8.9 Million Looted Under Jonathan To Nigeria A Royal Court in Jersey, United States, has reportedly ruled that stolen assets worth ÂŁ6.9m ($8.9m) be repatriated to Nigeria. The said assets were allegedly diverted by Nigerian government officials in 2014 under the guise of purchasing arms to fight Boko Haram terrorists. According to BBC, the court ruled that the money, deposited in a Jersey bank account, was likely stolen by officials in the Nigerian Government in 2014. Controversies had surrounded the purchase of weapons in the fight against insurgency with the then National Security Adviser, Sambo Dasuki, being…
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Jan
16
2024
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By Abia ThinkTank
Private Operators To Handle Port Harcourt Refinery

Private Operators To Handle Port Harcourt Refinery

Business, Economy, News Flash, Oil & Gas
NNPCL To Hand Over Port Harcourt Refinery To Private Operators As the Port Harcourt oil Refinery comes to life, the Nigerian National Petroleum Company Limited has concluded plans to hand over the government refinery to private operators. The NNPCL said it is seeking to engage reputable and credible operations and maintenance companies to operate and maintain the Port Harcourt Refining Company. This, it said, was “to ensure reliability and sustainability towards meeting the nation’s fuel supply and energy security obligations.” In a publication on its website on Monday, the NNPCL said the contract scope shall cover refinery business processes like…
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Jan
15
2024
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By Abia ThinkTank
7 Oil Marketers Register With Dangote Refinery For Lifting And Distribution

7 Oil Marketers Register With Dangote Refinery For Lifting And Distribution

Economy, News Flash, Oil & Gas
đź’ĄBREAKING 7 Oil Marketers In Nigeria Has Registered With Dangote Refinery For Lifting And Distribution Of Refined Products Produced By The 650,000bpd Oil Refinery. The 7 Marketers Are :â—Ź11 Plc.â—ŹConoil Plc.â—ŹArdova Plc.â—ŹMRS Oil Nigeria Plc.â—ŹOVH Energy Marketing Limited .â—ŹTotal Nigeria Plc.â—ŹNNPC Retail. May Nigeria Succeed !!!
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Jan
13
2024
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By Abia ThinkTank
Breaking News: Dangote Refinery Begins Production

Breaking News: Dangote Refinery Begins Production

Economy, News Flash, Oil & Gas
NEWSBREAKING: Dangote Refinery Begins Production Spread the loveProduction at the Dangote Refinery and Petrochemical Company commenced on Friday. The refinery received the fifth crude oil shipment of one million barrels of Bonny Light supplied by the Nigerian National Petroleum Corporation Limited last week. The 650,000 barrels per day oil processing facility started operations in May 2023. It is designed to process crude oil grades from the three continents of Africa, Asia and America. More details later…
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Jan
07
2024
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By Abia ThinkTank
The Race To Wealth – By Nnate Ernest

The Race To Wealth – By Nnate Ernest

Columns/Opinions/Letters, Business, Economy
THE RACE TO WEALTH By Nnate Ernest It's fascinating how every person on Earth has a unique path and story of their life. Though there may be similarities in experiences, every individual has a distinct journey. Have you ever wondered why a group of people may embark on a journey together, but some may reach the top effortlessly while some struggle for a long time, while others never make it? The reason could be due to a combination of factors such as privileges, hard work, resilience, competitive spirit, and courage. However, I believe that there is also an element of…
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Dec
27
2023
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By Abia ThinkTank
CBN Assures Nigerians Of Funds Safety In All Banks

CBN Assures Nigerians Of Funds Safety In All Banks

CBN/Commercial Banking, Economy, News Flash
CBN Assures Nigerians Of Funds Safety In Banks The Central Bank of Nigeria has officially reassured the public about the security of funds held in Nigerian banks, underscoring the robust stability of the nation’s banking sector. This was made known in a statement issued by the acting, Director, Corporate Communications, Sidi-Ali Hakama via its X handle on Wednesday, December 27. The statement reads: “The Central Bank of Nigeria (CBN) has noticed reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN-supervised financial institutions. “For the avoidance of doubt, Nigerian banks remain safe and…
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