BusinessTwitter CEO Resigns

Hassan Umar Shallpella (Regional Correspondent)November 30, 2021

The Chief executive officer of microblogging platform Twitter, Jack Dorsey, has announced his resignation in a statement yesterday. He was co-founding the microblogging platform for 16 years now. Dorsey said he has worked hard to ensure that the company breaks away from its founding and founders.  “After almost 16 years of having a role at our company, from co-founder to CEO to chair to executive chair to interim-CEO to CEO. “I decided it’s finally time...

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CBN Retains Benchmark Interest Rate At 11.5%

BusinessEconomyCBN Retains Benchmark Interest Rate At 11.5%

Beloved John (Staff Writer)November 23, 2021

ABUJA — The monetary policy committee of the Central Bank of Nigeria (CBN) has decided to maintain the monetary policy rate (MPR), which measures interest rate, at 11.5 percent. Godwin Emefiele, the apex bank chairman announced the decision of the committee while addressing Journalists on Tuesday after the two-day meeting with the committee members at the CBN headquarters in Abuja. According to the governor, the committee voted to maintain the current MPR to ensure economic...

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Forceful Ejection: Over 400 Residents Sue Minister Of Federal Capital Territory

BusinessLaw & JusticeForceful Ejection: Over 400 Residents Sue Minister Of Federal Capital Territory

Hassan Umar Shallpella (Regional Correspondent)November 22, 2021

ABUJA — Over 400 residents of Abuja have sued the Minister of the Federal Capital Territory (FCT) and the Inspector-General of Police concerning the forcible ejection from their shops. Chukwuma-Umachukwu Ume, Senior Advocate of Nigeria (SAN) writing on behalf of the 439 complainants, said most of his clients are the breadwinners of their families. In an impassioned letter to the FCT minister, Muhammad Bello, the distraught traders who are mostly low-income earners, urge the minister...

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Unperfected Title Documents Of Properties Hinders Recovery Of N4.4 Trillion-AMCON

BusinessCorruptionUnperfected Title Documents Of Properties Hinders Recovery Of N4.4 Trillion-AMCON

Hassan Umar Shallpella (Regional Correspondent)November 22, 2021

ABUJA — The Managing Director/Chief Executive Officer, Assets Management Corporation of Nigeria (AMCON)  Mr. Ahmed Lawan Kuru has submitted names of the top 1,000 loan defaulters to the National Assembly in another deft strategy to intensify its debt recovery drive. Kuru made this known to members of the House of Representatives Committee on Banking and Currency at the retreat of the committee in Lagos. He said the country’s bad debt bank has a high number...

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No Increase Of Fuel Pump Price-Ahmed

BusinessOil & GasNo Increase Of Fuel Pump Price-Ahmed

Hassan Umar Shallpella (Regional Correspondent)November 22, 2021

ABUJA — The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Engr. Farouk Ahmed says the federal government the current pump price would remain for now with the expected high rate of travel during the festive period. Presently, petrol sells at N162/163 per litre in most major petrol stations with independent marketers selling at N165/litre. Ahmed made the disclosure to journalists in Abuja through Ogbogu Ukoha, Executive Director, Distribution Systems,...

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Fuel Scarcity Hits Zamfara State, Motorcycles Deserted Roads

BusinessOil & GasFuel Scarcity Hits Zamfara State, Motorcycles Deserted Roads

Hassan Umar Shallpella (Regional Correspondent)November 21, 2021

A public commentator, Ahmed Bakare in Zamfara state attributed the fuel scarcity experienced in the state as artificial, alleging that the government is involved in the situation. Bakare stated that most of the filling stations in the country are owned by the people in the corridors of power, adding that the federal government has woefully failed in its fight against monumental corruption in the country. He alleged that corruption has become legalized in disguise as...

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Kano State Government Supports 14,250 Small Holder Farmers

AgricultureBusinessKano State Government Supports 14,250 Small Holder Farmers

Hassan Umar Shallpella (Regional Correspondent)November 13, 2021

KANO — Over 14,250 small holder farmers received inputs under its Agro-Pastoral Development Project (KSADP), supported by the Islamic Development Bank (IsDB) from the Kano State government. Gov. Abdullahi Ganduje while speaking at the event in Kano said the empowerment was also to assist in ensuring food security in the state. “The inputs worth millions of naira for livestock fattening and reproduction schemes, were given to 3,000 women and youths while inputs for crop residue...

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Nigeria Loses Rank as Africa’s Largest Oil Producer to Libya

BusinessOil & GasNigeria Loses Rank as Africa’s Largest Oil Producer to Libya

Bada Yusuf Amoo (Correspondent)November 12, 2021

Nigeria has lost its tank as the top Africa oil producing country to Libya as its crude oil production further fell last month amid lingering supply disruptions. This was according to a news report by the Organization of the Petroleum Exporting Countries (OPEC). According to the report, Nigeria told OPEC that its oil production fell to about 1.23 million barrels per day in October from about 1.23 million bpd in the previous month. This was...

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Marketers Halt Importation of Cooking Gas as Price Jumps by 240%

BusinessOil & GasMarketers Halt Importation of Cooking Gas as Price Jumps by 240%

Bada Yusuf Amoo (Correspondent)November 9, 2021

LAGOS — Importers of Liquefied Petroleum Gas, popularly called cooking gas, have stopped importing the commodity. Investigations also show that the cost of the product increased by 240 per cent for 12.5kg, jumping from N3,000 to N10,200 between January and October. About 65 per cent of LPG is imported into Nigeria, while domestic production accounts for 35 per cent, hence the halt in imports could further shoot up cooking gas price if the situation is...

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Agric Minister Says Nigeria Customs Cannot Fight Rice Smuggling Alone

AgricultureBusinessAgric Minister Says Nigeria Customs Cannot Fight Rice Smuggling Alone

Beloved John (Staff Writer)November 8, 2021

Mohammed Abubakar, the minister of agriculture and rural development, has vowed to ensure that his ministry maintains a good relation with security agencies to reduce the illegal importation of rice through land borders. He said this at a meeting of the steering committee of the national task force on illegal importation. This is according to a statement from the ministry’s senior information officer, signed by Mabel Mbosire. Abubakar stated that the improvement of the rice...

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