CBN gives 2-weeks ultimatum to banks on ATM, e-banking complaints The Central Bank of Nigeria has directed all banks to resolve all outstanding issues relating to failed Automated Teller Machine, Point of Sale terminal and other electronic banking transactions within two weeks, starting June 8, 2020. It also revised timelines for reversals and resolution of refund complaints on electronic channels. A...... read more
NNPC reduces petrol’s ex-depot price to N108 The Nigerian National Petroleum Corporation (NNPC) on Wednesday announced a reduction in the ex-depot price of petrol from N113.28 per litre to N108 per litre across all its products loading facilities. In a release on Wednesday in Abuja signed by NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru;...... read more
CBN, Bankers’ Committee Suspend Retrenchment Of Banks’ Staff The Central Bank of Nigeria (CBN) and the Bankers’ Com­mittee, the umbrella body of managing directors of banks and top officials of the CBN have told banks in the country to suspend any plan to lay-off staff at this moment. The CBN, in a statement on Sunday and signed by the...... read more
Abia, Kaduna and 22 other states get N43.4bn World Bank grant for transparency   The Federal Government on Wednesday said it had disbursed N43.41bn ($120.6m) to 24 states under the performance-based grant component of the World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability Programme-for-Results. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said this in a statement issued on Wednesday. The...... read more
Nationwide blackout looms as grid system collapses Nigeria’s national grid system again recorded another major collapse, thereby throwing several parts of the country into total darkness. On January 16, 2020, the national electricity grid collapsed twice in less than two hours. The system, which collapsed around 12:37 on Thursday, resulting in power outage in parts of the country, went...... read more
CBN resumes dollar sales for SMEs, School fees In view of the gradual easing of the COVID-19 lockdown both globally and in Nigeria, the Central Bank of Nigeria (CBN) says it has resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay schools fees and SMEs wishing to make essential imports needed...... read more
Ngozi Okonjo-Iweala, Arunma Oteh, 4 Others named members of Abia state Post COVID-19 Economic Advisory Committee The Governor of Abia State, Okezie Ikpeazu, PhD has approved the constitution of the Abia State Post COVID-19 Economic Advisory Committee. The Membership of the Committee is as follows- 1. Prof Anya O Anya - Chairman 2. Ms Arunma Oteh - Member 3. Dr Emeka Onwuka - Member 4. Dr Ngozi...... read more
Oil price crashes below $0 a barrel Oil price took a negative dive in the late hours of Monday April 20, as it plunged further to below $0 a barrel for the first time as the coronavirus pandemic lingers.    In a historic crash which came barely a month after experts warned oil prices could dip into negative territory,...... read more
Nigeria excluded from 25 nations granted debt relief by IMF The International Monetary Fund has granted debt relief to 25 countries, mostly African nations excluding Nigeria. A statement by the Managing Director of the IMF, Kristalina Georgieva, said it would provide $500m in grant-based debt service relief to these countries. “Today, I am pleased to say that our executive board approved...... read more
COVID-19: Farmers demand palliative on farm inputs, soft loans for 2020 farming season Farmers under the auspices of All Farmers Association Nigeria, AFAN, Sunday, demanded for palliative on farm inputs and soft loans for 2020 farming season. The demand was made by the Vice President, AFAN, Daniel Okafor, while speaking with Vanguard on a telephone chat, as there is urgent need for farmers to...... read more
Naira crashes in value, now exchanging at N420 to a dollar The Nigerian Naira suffered a continuous decrease in value in parallel market yesterday March 12, as it exchanged between N405 and N420 to a dollar in some Bureau De Change facilities.        President of Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe who confirmed the development, blamed...... read more
Ikpeazu seeks partnership with AfDB to transform state into industrial hub Abia State Governor, Okezie Ikpeazu, Wednesday, told the African Development Bank that a thriving entrepreneurship industry and agricultural base in the State are the foundation for the creation of a potentially viable industrial hub. He spoke at a meeting with the African Development Bank President, Akinwumi Adesina, at the Bank’s headquarters...... read more
Gov. Ikpeazu to meet AfDB President in Abidjan today   Governor Okezie Ikpeazu will later today hold a meeting with the President of the Africa Development Bank, Dr. Akinwumi Adesina in Abidjan, the capital of Cote D'Ivoire. The meeting, which is at the instance of Dr. Adesina is a follow up to the earlier meeting between the Governor and the...... read more
IGR: How Abia Hit the N1bn Mark in January, Paid New Minimum Wage – Aham Uko Abia State has met her target of hitting the N1bn mark in her internally generated revenue drive for the month of January 2020 thereby significantly raising her revenue profile while also paying the new minimum wage agreed by the Federal Government and Labour to its civil servants without any rancour or...... read more
Abia New year Inferno: Ikpeazu commiserates with traders   Governor Okezie Ikpeazu has expressed his deepest commiserations with Traders at the popular Timber Market at Ndume, Umuahia over the fire incident that ravaged parts of the market a few days ago, describing the incident as very unfortunate.  The Governor sympathized with those who lost property at the market and...... read more
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