News Flash

Jan
10
2025
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By Abia ThinkTank
CBN Halts Extension Of Export Proceeds Repatriation For Exporters

CBN Halts Extension Of Export Proceeds Repatriation For Exporters

CBN/Commercial Banking, Economy, News Flash
CBN Halts Extension Of Export Proceeds Repatriation For Exporters The Central Bank of Nigeria (CBN) has issued a circular announcing the immediate suspension of approvals for the extension of export proceeds repatriation on behalf of exporters. Dated January 8, 2025, the directive applies to both oil and non-oil export transactions, marking a significant policy shift aimed at ensuring compliance with existing regulations. The circular was signed by Dr W.J. Kanya, the acting Director of the CBN’s Trade & Exchange Department and released on Thursday. Key provisions of the circularIn the circular titled “Suspension of Extension of Export Proceeds on Behalf…
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Jan
10
2025
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By Abia ThinkTank
Money Laundering: Chief Of Staff Implicates El-Rufai In Confessional Statement

Money Laundering: Chief Of Staff Implicates El-Rufai In Confessional Statement

Crime, Economy, Judiciary, News Flash, Politics
Money Laundering: Chief Of Staff Implicates El-Rufai In Confessional Statement Alhaji Muhammad Bashir Sa’idu, former Chief of Staff to Malam Nasir El-Rufai, has implicated his former principal in a confessional statement related to an ongoing money laundering case against him. It will be recalled that the Chief Magistrate Court in Rigasa remanded Sa’idu at the Kaduna Correctional Centre following his arrest and arraignment by security agencies on 31 December 2024. The charges against the former Chief of Staff allege that he sold $45 million in hard currency belonging to the Kaduna State Government—equivalent to ₦18,450,000,000—at the significantly undervalued rate of…
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Jan
10
2025
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By Abia ThinkTank
Lagos State Governor Approves A Record-Breaking Budget Of N3.366 Trillion

Lagos State Governor Approves A Record-Breaking Budget Of N3.366 Trillion

Economy, Lagos, News Flash
Lagos State Governor Babajide Sanwo-Olu has signed the 2025 Appropriation Bill into law, approving a record-breaking budget of N3.366 trillion. The budget, which is geared towards advancing the Sanwo-Olu/Hamzat administration’s developmental agenda, focuses on infrastructure, education, healthcare, and economic growth. During the signing ceremony, the governor reiterated his administration’s commitment to delivering impactful projects that improve the quality of life for Lagos residents and ensure sustainable development across the state. Gboyega Akosile, spokesman of the governor, wrote on X: “Lagos State Governor Babajide Sanwo-Olu today signs the 2025 Appropriation bill to law. “The budget size is N3.366 trillion meant for…
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Jan
09
2025
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By Abia ThinkTank
Gov. Otti At Ministers Prayer Network Anniversary, Maintains Stance On Using Government Money Solely For Government Business

Gov. Otti At Ministers Prayer Network Anniversary, Maintains Stance On Using Government Money Solely For Government Business

Abia State, Good Governance, News Flash, Religion
GOV. OTTI AT MINISTERS PRAYER NETWORK ANNIVERSARY, MAINTAINS STANCE ON USING GOVT. MONEY SOLELY FOR GOVT. BUSINESS Abia State Governor Dr. Alex Otti, OFR, has once again maintained his stance that government money must not be used for private endeavors but solely for government businesses. Speaking on Wednesday, 8th January, at the 30th anniversary of Ministers Prayer Network held at their Headquarters in Ukwa West LGA, Governor Otti who attended the event alongside his wife, Her Excellency, Mrs. Priscilla Otti, said that he has always maintained running government and separating government from the individual, noting that the same applies to…
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Jan
09
2025
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By Abia ThinkTank
2025 Budget: PDP, Labour Party Reject N55 Billion Allocation For Presidential Fleet Maintenance

2025 Budget: PDP, Labour Party Reject N55 Billion Allocation For Presidential Fleet Maintenance

FGN, News Flash, Politics
2025 Budget: PDP, Labour Party Reject ₦55 Billion Allocation For Presidential Fleet Maintenance The Peoples Democratic Party (PDP) and the Labour Party have condemned the proposed ₦55.5 billion allocation for maintaining Nigeria’s presidential air fleet in the 2025 Appropriation Bill, currently awaiting approval by the National Assembly. The budget, which includes expenses for aircraft engine overhauls, fuelling, air navigation, cleaning, fumigation, and general maintenance, significantly surpasses the ₦19.43 billion spent on the fleet between July 2023 and September 2024. Critics have raised concerns about the government’s priorities, particularly in light of Nigeria’s ongoing economic challenges. The South-West Chairman of the…
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Jan
09
2025
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By Abia ThinkTank
China Approves $254 Million Loan For President Tinubu Government’s Kano-Kaduna Railway Project

China Approves $254 Million Loan For President Tinubu Government’s Kano-Kaduna Railway Project

Business, CBN/Commercial Banking, FGN, Infrastructure, News Flash
China Approves $254 Million Loan For President Tinubu Government’s Kano-Kaduna Railway Project The China Development Bank (CDB) has approved a $254.76 million loan to support the construction of the Kano-Kaduna railway project in Nigeria by the President Bola Tinubu-led government. In a statement released on Tuesday, the bank said the funding would facilitate the smooth implementation of the infrastructure project. The construction is being handled by the China Civil Engineering Construction Corporation (CCECC) with financial backing from the CDB. “The Kano-Kaduna railway spans a total of 203 kilometers and is designed as a standard-gauge railway,” the statement noted. “Upon completion,…
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Jan
09
2025
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By Abia ThinkTank
SDP, El-Rufai, Al-Mustapha, Others In ‘Strategic Meeting’ Ahead Of 2027 Elections

SDP, El-Rufai, Al-Mustapha, Others In ‘Strategic Meeting’ Ahead Of 2027 Elections

News Flash, Politics
SDP, El-Rufai, Al-Mustapha, Others In ‘Strategic Meeting’ Ahead Of 2027 Elections Shehu Gabam, the National Chairman of the Social Democratic Party, SDP, convened a “strategic meeting” at the party’s headquarters on Tuesday, which had Nasir el-Rufai, the former governor of Kaduna, Hamza Al-Mustapha, the ex-aide to the late Sani Abacha, and other politicians in attendance. According to Segun Showunmi, a former spokesperson of the Atiku Abubakar campaign organisation, the Abuja meeting was to “strategise ahead of the 2027 elections.” His post on Facebook read: “Ahead of Nigeria’s 2027 elections, a key meeting was held by His Excellency Shehu Gabam, Chairman…
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Jan
09
2025
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By Abia ThinkTank
Gov. Otti Assures Nigerian Geological Survey Agency Of Synergy To Improve Abia’s Local Industry

Gov. Otti Assures Nigerian Geological Survey Agency Of Synergy To Improve Abia’s Local Industry

Abia State, Business, Good Governance, News Flash
GOV OTTI ASSURES NIGERIAN GEOLOGICAL SURVEY AGENCY OF SYNERGY TO IMPROVE ABIA'S LOCAL INDUSTRY The Governor of Abia State, Dr. Alex Chioma Otti, OFR, earlier today, received the Director, Nigerian Geological Survey Agency, Mr. Isaac Mba Okorie and his team, who paid a courtesy call on him. The team is on an official assignment to the State to explore the mineral resources of the state with a special concentration on kaoline. Represented by the Deputy Governor, Engr. Ikechukwu Lekwachi Emetu, FNSE, Otti noted that the profiling of kaolin in different areas of the state will contribute to the economic development…
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Jan
09
2025
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By Abia ThinkTank
I Grew From Almajiri School To Become NNPCL GCEO – Kyari On His Birthday

I Grew From Almajiri School To Become NNPCL GCEO – Kyari On His Birthday

Education, News Flash, Oil & Gas, Personality
I Grew From Almajiri School To Become NNPCL GCEO – Kyari On His Birthday The Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari has disclosed that he went from being an Almajiri school pupil to becoming the head of the national oil company. Kyari stated this on his X handle, @MKKyari, on Wednesday as he celebrated his 60th birthday. He expressed profound gratitude to Nigeria for the opportunities that came his way from his humble beginnings to the height he has attained. He thanked Nigeria and particularly former President Muhammadu Buhari and incumbent President Bola…
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Jan
08
2025
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By Abia ThinkTank
Death Threat: Peter Obi Speaks On His Arrest Following Counter Allegations

Death Threat: Peter Obi Speaks On His Arrest Following Counter Allegations

Crime, News Flash, Politics
Dêath Threåt: Peter Obi Speaks On His Arrest Following Counter Allegations Peter Obi has dispelled the rumour of his arrest, saying he is currently at his Onitsha residence in Anambra State. This followed the death threat allegation and counter allegation between him and Felix Morka, a chieftain of the ruling All Progressives Congress (APC). In a statement posted via his official Twitter handle on Wednesday, January 8, 2025, Obi called on his supporter to ignore the rumour of his alleged arrest, saying the claim is entirely false. “The recurring fake News on me. I have been made aware of a…
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