News Flash - Abia ThinkTank News

Dec

2024

Nigerian SEC Proposes New Law For Crypto Influencers, Defaulters Face Up To 3 Years Imprisonment

CBN/Commercial Banking, Crime, Economy, Judiciary, News Flash

Nigerian SEC Proposes New Law For Crypto Influencers, Defaulters Face Up To 3 Years In  Jail  The Nigerian Securities and Exchange Commission (SEC) under Emomotimi Agama has proposed a new law aimed at combating the issue of crypto influencers using their influence to promote dubious crypto projects. The new law requires every crypto platform or Virtual Assets Service Provider (VASP) to be registered with a license from the Nigerian SEC before carrying out any promotion on social media, TV, or Print. The law is set to take effect on June 30th, 2025. Crypto influencers must also disclose to their community…

Dec

2024

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By Abia ThinkTank

Politics Today: Obi Officially Dumps Labour Party

News Flash, Politics

Obi Officially Dumps Labour Party Paschal Obi, a former member of the House of Representatives who represented the Ideato North and South Federal Constituency, has officially left the Labour Party (LP) and rejoined the All Progressives Congress (APC). Obi was warmly welcomed back into the APC fold by the party’s expanded state executives, led by Macdonald Ebere, after formalizing his membership at both the ward and local government levels. In his remarks, Obi expressed that he was motivated to return to the APC due to the significant infrastructural development he attributed to Governor Hope Uzodinma’s leadership in Imo State. He…

Dec

2024

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By Abia ThinkTank

President Tinubu Reconstitutes Leadership Of 12 River Basin Development Authorities (See Full List)

Business, Economy, News Flash, Politics, Presidency

Tinubu Reconstitutes Leadership Of 12 River Basin Devt Authorities (See Full List) President Bola Ahmed Tinubu has approved the reconstitution of the executive management teams for 12 River Basin Development Authorities (RBDAs) under the Federal Ministry of Water Resources, signaling his administration’s commitment to enhancing the efficiency of these critical organizations. The newly appointed executives are expected to leverage their expertise to boost agricultural productivity, manage water resources, and foster rural development in alignment with the administration’s commitment to improving the lives of Nigerians. The new appointments were made public on Wednesday in a statement issued by Special Adviser to…

Dec

2024

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By Abia ThinkTank

Senate Moves To Ban Foreign Currencies In Nigeria, Insist On Naira-Only Transactions

CBN/Commercial Banking, FGN, National Assembly, News Flash

Senate Moves To Ban Foreign Currencies In Nigeria, Insist On Naira-only Transactions A new bill aimed at banning the use of foreign currencies, including the US Dollar and British Pound Sterling, for domestic transactions in Nigeria has passed its first reading in the Senate. The bill, titled “A Bill for an Act to Alter the Central Bank of Nigeria Act, 2007, No. 7, to Prohibit the Use of Foreign Currencies for Remuneration and Other Related Matters,” was introduced by Senator Ned Nwoko, Chairman of the Senate Committee on Reparations and Repatriation. The proposed legislation seeks to make the Naira the…

Dec

2024

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By Abia ThinkTank

Debt Servicing To Gulp N15.8Trn In President Tinubu’s 2025 Budget Proposal

Economy, FGN, News Flash, Politics, Presidency

Debt Servicing To Gulp N15.8Trn As Tinubu Presents 2025 Budget A sum of N15.81 trillion has been allocated for debt servicing in the 2025 Appropriation Bill presented to the joint sitting of the National Assembly by President Bola Ahmed Tinubu. Defence and Security tops the sectoral allocations in the N47.9 trillion budget presented by the President on Wednesday. The President disclosed this while giving a highlight of the Budget proposal before the National Assembly. He stated that Defence/Security was allocated N4.91 trillion; Infrastructure was allocated N4.06 trillion; Health N2.4 trillion health while Education gets N3.5 trillion. According to the President,…

Dec

2024

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By Abia ThinkTank

Security, Infrastructure, Education Top President Tinubu’s 2025 N47.9 Trillion Budget Proposal

Economy, FGN, News Flash, Politics, Presidency

Security, Infrastructure, Education Top Tinubu’s 2025 N47.9 Trillion Budget Proposal Security and defence, infrastructure, health and education were some of the sectors with high allocations in the N47.9tn Budget Proposal presented by President Bola Tinubu before a joint session of the National Assembly on Wednesday afternoon. “It is with great pleasure that I lay before this distinguished joint session of the National Assembly, the 2025 Budget of the National Assembly of Nigeria titled, ‘The Resurrection Budget’ security peace, building prosperity,” Tinubu said as he concluded his speech at 1:10pm on Wednesday. Earlier in his presentation, the President listed some of…

Dec

2024

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By Abia ThinkTank

Edo State House Of Assembly Suspends All LG Chairmen, Vice Chairmen For Defying Governor

House Of Assembly, News Flash, Politics

House Of Assembly Suspends All LG Chairmen, Vice Chairmen For Defying Governor The Edo State House of Assembly has suspended the chairmen and vice chairmen of the 18 local government councils for two months, following allegations of insubordination to Governor Monday Okpebholo. The suspension followed a petition from the governor, accusing the council leaders of refusing to submit their financial records to the state government. Okpebholo described the chairmen’s actions as acts of insubordination and gross misconduct, prompting his request for the Assembly to address the matter. When the issue was raised for debate, Mr. Isibor Adeh, representing Esan North…

Dec

2024

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By Abia ThinkTank

CBN Sets Daily Withdrawal Limit On POS To N100k Per Customer

CBN/Commercial Banking, Economy, News Flash

CBN Sets Daily Withdrawal Limit On POS To N100k Per Customer The Central Bank of Nigeria (CBN) has set a daily withdrawal limit on point-of-sale (PoS) terminals to N100,000 per customer. This was contained in a circular to all deposit money banks (DMBs), microfinance Banks, mobile money operators and super-agents, titled ‘Cash-out limits for agent banking transactions,’. The apex bank of Nigeria, CBN, said the restriction is in line with the apex bank’s ongoing efforts to advance a cash-less economy. CBN had announced a fine of ₦150 million on Deposit Money Banks found guilty of giving out illegal flow of…

Dec

2024

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By Abia ThinkTank

Ghana’s President – Elect John Mahama Meets Tinubu At Presidential Villa

FGN, News Flash, Politics, Presidency

Ghana’s President-Elect John Mahama Meets Tinubu At Presidential Villa The president-elect of Ghana, His Excellency John Dramani Mahama met with President Bola Tinubu in Abuja, Nigeria’s capital city. Mahama who is on a courtesy visit to Nigeria met President Tinubu in his residence at the Presidential Villa on Monday, December 16. This was disclosed in a post shared on X, Olusegun Dada, the special assistant to the president on social media. Dada said, “President-Elect of Ghana, H.E John Dramani Mahama paid a courtesy visit to President Tinubu at his residence, Presidential Villa, State House Yesterday.” The post was made alongside…

Dec

2024

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By Abia ThinkTank

ON A HIGHER PLANE: Being Gov. Otti’s Speech At The Flag Off Of The ABIA Airport Project

Abia State, Good Governance, News Flash, Transportation

ON A HIGHER PLANE Being the Text of an Address Presented by Governor Alex C. Otti, OFR, at the Flag off of the Abia Airport Project on Tuesday, December 17, 2024, at the Ubaha Community School, NsuluProtocols, Leadership is about making the most of the regular and special opportunities that come our way to drive new possibilities. We made a commitment that under our watch; Abia will never let any promising opportunity slip by. Whether it is collaborating with multilateral partners, Federal Government and its agencies, sister states, business organisations and individuals who have something of value to offer us,…