CBN retains MPR at 13.5% Nine out of 11 member of the Monetary Policy Committee (MPC) of the the Central Bank of Nigeria (CBN) on Tuesday voted to retain all key economic parameters. Consequently, Monetary Policy Rate (MPR) remained 13.5%, the asymmetric corridor at +200 and -500 basis point around the MPR, the CRR at 22.5% and...... read more
Mutilate Naira, go to jail! Nigerians get stern warning Nigerians may soon bid bye to dirty, torn and mutilated Naira as the Central Bank of Nigeria (CBN) has ordered the withdrawal of the N7.9 trillion unfit banknotes in circulation,  and  decreed that only clean, crisp Naira notes  should exchange hands henceforth. This is in line with its mandate of  production and circulation of quality...... read more
OPINION: Golden Guinea Breweries Plc: An important addendum By Sam Hart Last week Friday, the Abia State Commissioner for Information John Okiyi Kalu and myself visited Golden Guinea Breweries Plc and shared the news of the imminent reopening of the Brewery.  The story understandably went viral and elicited mixed reactions. While genuine lovers of development welcomed the news for...... read more
Kachikwu pegs cost of Petrol at N180 The landing cost of Premium Motor Spirit, also known as petrol, is N35 higher than the pump price of N145 per litre, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said on Tuesday. Kachikwu said the rise in global crude oil prices after the 2016 hike in petrol price...... read more
BoI rolls out repayment scratch-cards for TraderMoni, MarketMoni loans The Bank of Industry (BoI) has begun the roll-out of its voucher-based loan repayment recharge cards for the Government Empowerment and Enterprise Programme (GEEP) TraderMoni, MarketMoni, and FarmerMoni loans. Through a flexible loan repayment plan of N430 per week paid over six months or N860 per week paid over three months,...... read more
Ecobank launches Ecobank Pay Zone at Ariaria The Managing Director, Ecobank Nigeria, Patrick Akinwuntan, has assured businesses in Ariaria Market, Aba of receiving payments from the bank with ease during any transaction. Akinwuntan, who launched the Ecobankpay zone at the market, said it would facilitate easy, secure and convenient transactions for merchants within Ariaria and other surrounding markets....... read more
ExxonMobil considers sale of Nigerian oil, gas fields for $3bn Nearly two and a half years after exiting Nigeria’s downstream oil sector, ExxonMobil is weighing the sale of some oil and gas fields in the country. The United States-based oil major recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses...... read more
Dangote becomes 64th richest man in the world after he gained $5.8 billion in one day Alhaji Aliko Dangote is now the 64th richest man in the world.   The president of Dangote Group significantly moved up in the world billionaires’ list after he gained $5.8bn within 24 hours and his total net worth rose to $16.6bn on Tuesday.   Dangote, who was previously ranked as the 103rd richest...... read more
'I Am Pained by your Situation,' Atiku Tells Igbo Business Community in Aba The PDP presidential candidate at the 2019 general elections, Alhaji Atiku Abubakar, was in Aba, the business hub of Abia State and the entire southeast, to hold a Town Hall Meeting with the business community of Igbo extraction. Atiku who arrived the Enyimba city with his running mate, Mr Peter Obi,...... read more
Naira rain in Abia as Abia social investment office takes tradermoni to rural communities It was a naira rain for small scale traders in several rural communities in Abia as the State  focal person Social Investment Programme Mr Chinenye Nwaogu with his team of enumerators began massive enumeration of rural traders for the Tradermoni recently launched by Vice President Prof Yemi Osinbajo. Following a deal...... read more
MTN Drags AGF, CBN To Court Over $10.1bn Demands MTN Nigeria yesterday filed a suit against the Central Bank of Nigeria (CBN) and the Attorney-General of the Federation (AGF) to seek a restraining order. The telecommunication sought relief over the $2 billion demand for unpaid taxes owed the nation and the repatriation of $8.1 billion dividends illegally repatriated to South...... read more
Court stops Multichoice from increasing subscription Three weeks after increasing its subscription, a Federal High Court sitting in Abuja has ordered Multichoice not to do so. Justice Nnamdi Dimgba on Monday asked the cable company, sued by the Federal Government, not to impose any hidden charges pending the determination of the plaintiff’s motion on notice for interlocutory...... read more
MSMEs to get N10m collateral-free loans - Osinbajo Vice-President Yemi Osinbajo says the federal government is working towards providing micro, small and medium enterprises (MSMEs) a credit facility of N2 million to N10 million without collateral. Osibanjo made the disclosure at the maiden edition of the MSMEs Award 2018 held at the state house in Abuja on Wednesday. The...... read more
We’ve not done enough for Abia —Shell Managing Director of Shell Nigeria Gas, SNG, Limited, Mr E. D. Ubong, has admitted that the multinational oil firm has not done enough for Abia State, where it has been operating in Owaza community in Ukwa West Local Government Area of the state for over 60 years. Speaking during a courtesy...... read more
Ezekwesili, others advise FG on Excess Crude Account Stakeholders, including a former Vice-President, Africa Region, World Bank, Oby Ezekwesili, on Monday called on the Federal Government to insist on accountability and binding rules on revenue outflow from the nation’s Excess Crude Account. They said the absence of rules of practices governing deposits, withdrawals and investment of the ECA led...... read more
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