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Digital economy has gained traction in the lexicon of Nigeria’s public office seekers, to the extent that many “youth empowerment” programmes of power seekers now contain some sort of activities relating to acquisition of digital skills, by the citizenry. But in reality, many of those with thriving digital footprints, set out on their own without any form of “empowerment”. This is the story of Geeksvillage, just like many other digital and tech solution providers in...

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AWKA — Anambra State Governor, Prof. Chukwuma Soludo has submitted the 2023 appropriation bill to the State Assembly for consideration and eventual passage in due time. The appropriation bill titled, “Budget of Acceleration”, has a total budget size of N258, 970, 175 and as such, by far the biggest budget size ever submitted to the House by any governor of the state. High point of the governor’s remarks during the budget presentation includes the fact...

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More facts have emerged as to why the Governor of Anambra State, Prof. Chukwuma Soludo, has moved a segment of what was before now known as the Ministry of Trade, Commerce and Industry, to his office. The Ministry which was renamed on Monday during the State Executive meeting at the Exco Chambers in Anambra State Government House, transformed into the Ministry of Industry. Although it retained the commerce component, the trade component was moved to...

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The Nigerian currency, naira, is one of the world’s worst-performing currencies, after Ghana’s cedi and the Sri Lankan rupee, a Bloomberg report says. According to the report, though the naira was performing pretty well against the dollar at the official market, ordinary Nigerians are grappling with a 37 per cent drop in the widely-used black market, where the exchange rate of the local currency is largely determined by the level of demand for the dollar. “While the naira...

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ONITSHA — Despite the huge revenue potential of Anambra State, only a paltry sum finds its way into the government coffers. In Onitsha alone, the main market is acclaimed to be the biggest in West Africa. With all the commercial activities in top gear across the state, Anambra still has no place in the league of the top ten states in Internally Generated Revenue across Nigeria. What this means is that given the direct correlation...

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Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), has disclosed the value of transactions on the eNaira platform. According to him, the eNaira transaction has hit $8 billion. The platform was launched in October 2021. Speaking on Wednesday at CBN’s in-house executive seminar in Abuja, Emefiele said the eNaira has been globally acclaimed as a success story. He was represented at the event by Aishah Ahmad, CBN deputy governor in charge of...

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LAGOS — A week after the Central Bank of Nigeria (CBN) announced the launch of redesigned banknotes, saying that the existing notes would cease to be legal tender by 31 January 2023, the naira has fallen to N800/$1. Though some outlets report the exchange rate between N815—N865/$1, sources at several bureaus de changes our correspondent spoke to suggest that rates range between N780—N805/$1. An operator at Allen Roundabout in Lagos, Ismail Muhammed said dollars were...

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A former presidential aspirant, Kingsley Moghalu, says he is in support of the move by the Central Bank of Nigeria (CBN) to redesign bank notes. He said it is a necessary step. Moghalu made his view on the CBN’s plan known via his Twitter page on Friday after our correspondent requested his opinion on the much-debated issue. The political economist said the measure would go a long way to ensure that the naira in circulation outside...

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ABUJA — President Muhammadu Buhari Friday presented a budget proposal of N20.51 trillion naira to the joint session of the National Assembly in Abuja, which he referred to the 2023 Appropriation as a “budget of fiscal sustainability and transition before he leaves office in May next year. Addressing the session, the President described the oil subsidy regime as grossly unsustainable in the current reality of low revenues occasioned by oil theft and insecurity. President Buhari,...

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ABUJA — Femi Gbajabiamila, the speaker of the house of representatives, has disclosed that President Muhammadu Buhari may present the 2023 budget to the national assembly in October. Gbajabiamila said this on Wednesday during the inspection of the ongoing renovation work on the green chamber, as well as the construction of the National Assembly Service Commission (NASC) office. The speaker said the president will present and lay before the two chambers of the national assembly,...

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