Economy

Dec
11
2022
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By Abia ThinkTank
Breaking News: Buhari Arrives Washington DC To Attend US-Africa Leaders Summit

Breaking News: Buhari Arrives Washington DC To Attend US-Africa Leaders Summit

Economy
Buhari departs for Washington to attend US-Africa leaders summit. President Muhammadu Buhari has departed Nigeria for Washington DC, to attend the United States-Africa Leaders Summit. His itinerary was disclosed in a statement by Senior Special Assistant to the President on Media and Publicity, Garba Shehu. According to the statement, the high-level meeting, scheduled to hold between December 13-15, is at the instance of the United States President, Joe Biden. Reports have it that Biden looks forward to “working with African governments, civil society, diaspora communities across the United States, and the private sector to continue strengthening our shared vision for…
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Dec
02
2022
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By Abia ThinkTank
President Buhari Reveals How State Governors Steal Local Government Funds

President Buhari Reveals How State Governors Steal Local Government Funds

Economy
Buhari reveals how state governors steal LG funds President Muhammadu Buhari has accused governors of stealing the federal allocations of local government councils in their states. Buhari made this revelation while speaking at the presidential parley for members of the Senior Executive Course 44 (2022) of the National Institute for Policy and Strategic Studies (NIPSS) at the State House on Thursday. The president gave an instance of how a state governor would receive allocation on behalf of council areas in his state only to remit half of such allocation to the council chairmen. He said: “If the monies from the…
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Oct
29
2022
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By Abia ThinkTank
Naira Notes Redesign: We Followed Due Process – CBN Replies Finance Ministry.

Naira Notes Redesign: We Followed Due Process – CBN Replies Finance Ministry.

Economy
We followed due process, CBN replies Finance Minister on redesign of Naira notes. The Central Bank of Nigeria (CBN) has responded to remarks by the Minister of Finance, Budget and National Planning, Zainab Ahmed that her office is unaware of plans to redesign some naira notes. Ahmed had told the Senate committee on Friday that CBN governor Godwin Emefiele should be invited to explain the purpose of the new naira notes as she only read about the move in the media like everyone else. She also faulted the process, describing the move to redesign the notes as ill-timed and that…
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Oct
20
2022
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By Abia ThinkTank
Just In: Wike Under Probe Over Indiscriminate Charity Outside Rivers

Just In: Wike Under Probe Over Indiscriminate Charity Outside Rivers

Economy
Wike under fire over ‘reckless charity to outsiders’ The Spokesman of the Rivers State All Progressives Congress (APC), Darlington Nwauju has expressed serious displeasure with the donations made by the governor of the state, Nyesom Wike to some individuals in other states. POLITICS NIGERIA reports that Governor Wike had on Tuesday donated N300 Million to the Committee of Wives of Lagos State Officials and hours later donated N200Million support to a library built by his political ally, Governor Okezie Ikpeazu. “We congratulate the Governor of Rivers State for being the first amongst his peers to have doled out several millions…
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Oct
05
2022
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By Abia ThinkTank
News Update: FG Sues Meta(Owners Of Facebook, Instagram and WhatsApp Platforms)

News Update: FG Sues Meta(Owners Of Facebook, Instagram and WhatsApp Platforms)

Economy
FG sues Meta, seeks N30bn penalty The Advertising Regulatory Council of Nigeria says it has lodged a suit against Meta Platforms Incorporated (owners of Facebook, Instagram and WhatsApp platforms) and its agent AT3 Resources Limited at the Federal High Court, Abuja Judicial Division. According to a statement on Tuesday by the apex regulatory body for Nigeria’s advertising ecosystem, ARCON is seeking a declaration among others that the continued publication and exposure of various advertisements directed at the Nigerian market through Facebook and Instagram platforms by Meta Platforms Incorporated without ensuring the same is vetted and approved before exposure is illegal,…
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Apr
29
2022
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By admin
We are buying Twitter from Elon musk – Cubana Chief Priest

We are buying Twitter from Elon musk – Cubana Chief Priest

Economy, Metro, , , , , ,
Less than 48 hours after taking over Twitter, Business mogul, Elon Musk is set to be put to the test, as celebrity barman, Cubana Chief priest, claims that him and some other billionaires from the Eastern part of Nigeria, are preparing a bid to buy Twitter from the world's richest man. "We are making progress on submitting our offer to acquire Twitter from Elon Musk, with $70B. Billionaires from the East comprising myself, Obi and E-Money and the rest, we are coming.." Cubana Chief priest tweeted. Early this year, business magnate Elon Musk proposed to buy out Twitter, Inc., for…
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Apr
25
2022
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Billionaire Elon Musk reaches agreement to buy Twitter for $44bn

Billionaire Elon Musk reaches agreement to buy Twitter for $44bn

Economy, , , ,
Billionaire, Elon Musk, has reached an agreement to buy Twitter for approximately $44 billion, the company has confirmed. Musk acquired the company at $54.20 a share, the same price named in his initial offer on April 14. “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement included with the release. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots,…
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Apr
08
2022
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2022 budget deficit jumps to N7.35tn, Buhari to borrow N965bn

2022 budget deficit jumps to N7.35tn, Buhari to borrow N965bn

Economy, Metro, Politics, , , , ,
• President writes Reps, seeks amendment to 2022 Fiscal Framework The President, Major General Muhammadu Buhari (retd.), has written a letter to the House of Representatives, informing the parliament that the deficit in the 2022 Appropriation Act has risen by N965.42bn to N7.35tn. Consequently, the President said the Federal Government would borrow funds to fill the gap. Buhari, therefore, called for an amendment to the Federal Government’s budget and the fiscal framework for 2022.https://imasdk.googleapis.com/js/core/bridge3.509.0_en.html#goog_877067980 Speaker of the House, Femi Gbajabiamila, read out the cover letter on the executive bill, titled, ‘Submission of the Revised 2022 Fiscal Framework’, and dated April…
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Apr
08
2022
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Nigeria, others at high risk of debt distress, IMF warns

Nigeria, others at high risk of debt distress, IMF warns

Economy, Politics, , , ,
Nigeria and 72 other countries are at high risk of debt distress or already in debt distress, according to a new report by the International Monetary Fund, IMF The report, titled “Restructuring debt of poorer nations requires more efficient coordination,” noted that low-income countries face fewer debt challenges today than they did 25 years ago, thanks in particular to the Heavily Indebted Poor Countries initiative, which slashed unmanageable debt burdens across sub-Saharan Africa and other regions. The report noted that although debt ratios were lower than in the mid-1990s, the debts have been creeping up for the past decade and…
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