Economy - Abia ThinkTank News

Nov

2023

President Tinubu Will Shock Currency Speculators – Dr Tope Fasua, Special Adviser To The President On Economic Matters

Abuja, CBN/Commercial Banking, Economy, News Flash

Special Adviser to the President on Economic Matters, Dr Tope Fasua, said that President Tinubu Will Shock Currency Speculators. He cautioned Nigerians who are hoarding foreign currencies with the hope that the local currency would continue to fall, warning that the policies of the government would shock them. Fasua who represented the Vice President, Kashim Shettima, at the event said: “For those who are speculating and praying and wishing that the currency would become nonsense, I believe that the policies are being rolled out by the central bank and the government that I serve, led by the President, will shock…

Nov

2023

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By Abia ThinkTank

President Tinubu Meets Islamic Development Bank Management, Negotiates Multi-Billion Dollar Funding Package For Infrastructure

CBN/Commercial Banking, Economy, FGN, News Flash

President Tinubu Negotiates Multi-Billion Dollar Funding From Islamic Development Bank President Bola Tinubu has secured a multi-billion dollar infrastructure funding package from the Islamic Development Bank (IDB) to fund a multi-sectoral portfolio of infrastructure projects at the federal and sub-national levels in Nigeria. This was disclosed in a statement by presidential spokesperson Ajuri Ngelale on Tuesday. The development was the outcome of substantive investment discussions held between President Tinubu and the Vice-President (Country Programs) of the IDB, Dr. Mansur Muhtar, in Mecca, Saudi Arabia, on Monday night, the statement revealed. See the press release below:PRESIDENT TINUBU MEETS ISLAMIC DEVELOPMENT BANK…

Nov

2023

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Saudi Investment In Nigeria Will Create Job Opportunities, Lift Millions Out Of Poverty – Dr. Betta Edu

Economy, Humanitarian, News Flash

💥BOOM “Investors will take their money in, do business in the best of environment, get the best return on investment and take their money out without any challenge. That wrong perception of corruption and issues with doing business in Nigeria is gone” - President Tinubu Saudi Investment in Nigeria Will Create Job Opportunities, Lifts Millions Out Of Poverty-Dr. Betta Edu Saudi Trade & Investment Minister, Khalid El-Falid “ we are not coming to Nigeria for exploratory talks but coming for implementation” investment is sure from Saudi Arabia. Nigeria is open for business, I can assure you. You will get the…

Nov

2023

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Just-In: Dangote Set To Refund $4.89B To CBN

Business, CBN/Commercial Banking, Economy, News Flash

BREAKING NEWS Dangote set to refund $4.89B to CBN.The expected rapidly appreciating Naira is set to gain more value as the Chairman and CEO of Dangote Refinery is set to refund $4.89B out of the laundered FX during Emiefele's regime as the CBN Governor.A total of over $12B was set to have been laundered by the world's richest black man during this period.FX speculators are set for a surprise decline in dollars to Naira exchange over the next few days as a result of this refund. Similarly, the lien on the $11B of the federal reserve has been lifted on…

Nov

2023

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CBN Issues Fresh Directive On Old And New Naira Notes

CBN/Commercial Banking, Economy, News Flash

CBN Issues Fresh Directive on Old and New Naira Notes The Central Bank of Nigeria (CBN) has instructed its branches nationwide to continue issuing both old and redesigned naira notes in ample quantities to deposit money banks. The directive comes on the heels of reports of cash scarcity in major cities despite earlier assurances from the CBN about sufficient cash availability. The CBN, in a statement signed by its Director, Corporate Communications, Isa AbdulMumin, has reiterated that all naira notes issued by the bank remain legal tender and should not be rejected by anyone. “We wish to state unambiguously that…

Nov

2023

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President Tinubu Signs 2.176 Trillion Supplementary 2023 Budget

Abuja, Economy, News Flash, Presidency

STATE HOUSE PRESS RELEASE PRESIDENT TINUBU SIGNS N2.1 TRILLION SUPPLEMENTARY 2023 BUDGET President Bola Tinubu signed the N2.176 trillion Supplementary Appropriation Act on Wednesday in Abuja to strengthen Nigeria's security architecture and address Nigeria's critical infrastructure deficit, amongst other considerations. The President signed the Supplementary Appropriation Act, 2023, in his office at the State House in the presence of Senate President Godswill Akpabio; Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas; Secretary to the Government of the Federation, Sen. George Akume; Majority Leader of the Senate, Opeyemi Bamidele; the Chairmen of the Appropriation Committees in the Senate, Sen.…

Nov

2023

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Betta Edu In Abeokuta Market, Expresses FG Readiness To Lift 100,000 People From Poverty Through Subsidized Adore Production Scheme

Business, Economy, News Flash, Women Empowerment

💥BOOM Betta Edu In Abeokuta Markets, Expresses FG Readiness To Lift 100,000 people from poverty through Subsidize Adire production scheme. It was excitement for the market men and women in Itoku and Asero Markets in Abeokuta, the Ogun State Capital, as the Minister for Humanitarian Affairs and Poverty Alleviation,Dr Betta Edu announced the readiness of President Tinubu's Renewed Hope Agenda to support locally produced Adire for local and international Market. She also took time to sensitize the market women on the market monies program and other social safety net programs from the ministry. The Minister said federal Government will invest…

Nov

2023

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Good News For Nigeria As Masters Energy Oil And Gas Commences The Construction Of A $500m Gas Storage Facility

Economy, News Flash, Oil & Gas

💥BREAKING Good News For Nigeria As Masters Energy Oil and Gas Commences The Construction Of A $500m Gas Storage Facility This Is In Line With President Tinubu's Gas Infrastructure Development Plan. This is a good development in the oil and gas sector. There is hope for Nigeria !! Details Coming Soon SPECIAL ADVERT PROMO FOR 2023 IGBA-OTOMU, IGBA-UCHE, IGBA-EKPE, IZU-UCHE, IGBOTONMA AND IZA-AFA This is a special promo designed for our brothers, sisters, mothers, fathers etc who are involved in the above events and others not mentioned during this Xmas period to reach out and showcase their event to the…

Nov

2023

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Former CBN Governor Lamido Sanusi Urge The Current CBN Governor To Tackle Increasing Inflation Rate.

CBN/Commercial Banking, Economy

Former CBN governor Lamido Sanusi has sent an important message to the Governor of CBN, Yemi Cardoso. He is calling on the apex bank to find a solution to the rising inflation rate, which is now at over 17year-high. The message from Sanusi was well received by Cardoso, and he replied with promises and provided his action plans Lamido Sanusi, the former Governor of the Central Bank of Nigeria (CBN), has urged the current CBN Governor, Olayemi Cardoso, to tackle the increasing inflation. Sanusi gave this advice when he visited the CBN headquarters in the company of Ibukun Awosika, Chairperson…

Nov

2023

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FG Takes Steps To Take 50m Nigerians Out Of Poverty – Betta Edu

Abuja, Economy, FGN

How FG Will Take 50m Nigerians Out Of Poverty – Betta Edu The Federal Government has spelt out some of the steps that will be adopted to take 50 million people out of poverty in Nigeria, as directed by President Bola Ahmed Tinubu. The Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, spoke on Thursday during the ongoing cabinet retreat at the State House Conference Centre, Abuja. The president had on Wednesday announced that ministers would sign a Performance Agreement with him at the end of the three-day cabinet retreat for ministers, presidential aides, permanent secretaries and top government…