FGN - Abia ThinkTank News

Oct

2024

CBN Introduces Electronic System To Boost Transparency In Forex Market

CBN/Commercial Banking, Economy, FGN, News Flash

CBN Introduces Electronic System To Boost Transparency In Forex Market The Central Bank of Nigeria has announced the introduction of an Electronic Foreign Exchange Matching System aimed at transforming the country’s foreign exchange market. This new system is set to be operational in the Nigerian Foreign Exchange Market by 1 December 2024, following a two-week test run scheduled for November. The EFEMS is expected to reshape how foreign exchange transactions are conducted in the interbank market by enhancing transparency and promoting a market-driven exchange rate accessible to the public. According to a circular by the Director of the Financial Markets…

Oct

2024

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By Abia ThinkTank

ASUP Threatens Strike Like ASUU; Gives 2 Weeks Ultimatum

Education, FGN, News Flash

Like ASUU, ASUP Threatens Strike; Gives Two Weeks Ultimatum The Academic Staff Union of Polytechnics (ASUP) has issued a two-week ultimatum to the Federal Government, urging the resolution of various longstanding issues affecting the polytechnic sector. The ultimatum, which begins on October 7, 2024, and concludes on October 25, 2024, could lead to industrial action if the demands are not met. The Union said. ASUP’s National President, Shammah Kpanja, revealed this decision on Thursday after a National Executive Council (NEC) of the Union in Abuja when he addressed the press. He explained that the union reviewed ongoing discussions with the…

Oct

2024

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By Abia ThinkTank

President Tinubu Proceeds On Annual Leave

FGN, News Flash

STATE HOUSE PRESS RELEASE PRESIDENT TINUBU GOES ON ANNUAL LEAVE President Bola Ahmed Tinubu will depart Abuja today for the United Kingdom to begin a two-week vacation, part of his yearly leave. He will use the two weeks as a working vacation and a retreat to reflect on his administration's economic reforms. He will return to the country after the leave expires. Bayo Onanuga Special Adviser to the President (Information & Strategy) October 2, 2024

Oct

2024

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By Abia ThinkTank

ASUU Issues Fresh Warning Strike To FGN

Education, FGN, News Flash

ASUU Sets For Strike, Issues Fresh Warning To FG The Academic Staff Union of Universities, (ASUU) has vowed to down tools after the expiration of the 14-day Ultimatum given to the Federal Government to meet their demands. Briefing Journalists, in Calabar, the Zonal Coordinator, ASUU Calabar Zone, Comrade Happiness Uduk who read a jointly signed release by all Chairpersons of the zone said that the Federal government should be held responsible for the breakdown of industrial harmony which will arise as a result of its indifference towards their plight. “Our Union will withdraw services, and should not be held responsible…

Oct

2024

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By Abia ThinkTank

President Tinubu Confers National Awards On Akpabio, Kekere-Ekun, Abbas, Benjamin Kalu And Others

FGN, News Flash, People & Events

Tinubu Confers National Awards On Akpabio, Kekere-Ekun, Abbas President Bola Tinubu has conferred prestigious national awards on Senate President Godswill Akpabio, Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun and Speaker of the House of Representatives, Tajudeen Abbas. The announcement was made during his Independence Day broadcast on Tuesday. Tinubu said in recognition of their contributions to the nation, Akpabio and Justice Kekere-Ekun, were awarded the Grand Commander of the Order of the Niger (GCON), one of the country’s highest honours. He added that the Deputy Senate President, Jibrin Barau, and the Speaker of the House of Representatives, Abbas, were honoured…

Oct

2024

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By Abia ThinkTank

Minimum Wage: FGN Raises Retiree’s Pension By N32,000

Economy, FGN, Labour, News Flash

Minimum Wage: FG Raises Retirees’ Pension By N32,000 Following the consequential adjustment in salary structures by the committee set up by the government to review the new minimum wage, retirees will now receive an increment of N32,000 in their monthly pensions. This was revealed in a memo by the National Salaries, Wages, and Income Commission, sighted on Monday by The PUNCH. According to the memo, dated September 27, 2024 and signed by the Chairman of the NSIWC, Ekpo Nta, the affected retirees are those who retired under the salary schemes for doctors, health workers, lecturers, police, paramilitary, armed forces, and…

Oct

2024

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By Abia ThinkTank

Full Text Of President Tinubu’s Speech On Nigeria’s 64th Independence Anniversary

FGN, News Flash, People & Events

Full Text Of President Tinubu’s Speech On Nigeria’s 64th Independence Anniversary Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard. As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we…

Oct

2024

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By Abia ThinkTank

Why We Dropped Money Laundering Charges Against Bobrisky; EFCC Reveals

Crime, FGN, News Flash

Why We Dropped Money Laundering Charges Against Bobrisky; EFCC Opens Up The Economic and Financial Crimes Commission (EFCC), has revealed its reasons for dropping money laundering charges against social media sensation and cross dresser, Idris Okuneye, popularly known as Bobriksy. This was disclosed by the EFCC in a statement on Monday. A Prosecutor with the Economic and Financial Crimes Commission, EFCC Bilikisu Bala on Monday told a Joint Committee of the House of Representatives investigating allegations of corruption against some officers of the Commission, and the Nigeria Correctional Service that charges of money laundering dropped in the trial of Bobrisky…

Sep

2024

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By Abia ThinkTank

World Bank Approves $1.57Billion Loan In Financing For Nigeria

CBN/Commercial Banking, Economy, FGN, News Flash

World Bank Approves $1.57 Billion Loan For Nigeria The World Bank has approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal Government in strengthening human capital through better health for women, children and adolescents. It added that the approved projects would also help build resilience to the effect of climate change such as floods and drought through improving dams safety and irrigation. The statement read, “The World Bank has today approved three operations for a total of $1.57bn to support the Government of Nigeria…

Sep

2024

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By Abia ThinkTank

FGN To Distribute 2,000 CNG-Powered Tricycles To Youths Across Nigeria From October 1st

Economy, FGN, News Flash

FG To Distribute 2,000 CNG-Powered Tricycles To Youths Across Nigeria From October 1st The Federal Government, through the Presidential Compressed Natural Gas Initiative (PCNGi), will begin the distribution of 2,000 CNG-powered tricycles to youths in the transportation sector across Nigeria starting October 1st, 2024. The initiative aims to distribute 2,000 CNG-powered tricycles to youths in the transportation sector across the country, as part of efforts to address rising transportation costs and promote more sustainable and affordable mobility options. In an X (formerly Twitter) post on Saturday, PCNGi highlighted that the program is part of the Tinubu administration’s broader strategy to…