NDIC Recovers N8.3 Billion Naira From Banks

BusinessNewsNigeriaNDIC Recovers N8.3 Billion Naira From Banks

Hassan Umar Shallpella (Regional Correspondent)December 11, 2022

The Nigeria Deposit Insurance Corporation (NDIC) says it has helped depositors recover eight point three billion naira from their banks and had resolved two hundred and forty-eight customer complaints. Mr. Bello Hassan said the complaints bothered unauthorized withdrawals which accounted for the highest number of one hundred and ninety cases, P.O.S issues accounted for thirty-three, and fraud cases which accounted for twenty-five. The Managing Director of the corporation stated this at the forty-third Kano International...

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CBN to reduce volume of N500, N1000 in circulation

MoneyNewsNigeriaCBN to reduce volume of N500, N1000 in circulation

Beloved John (Staff Writer)November 24, 2022

The Central Bank of Nigeria (CBN) has said it is planning to decrease the volume of higher denominations like N500 and N1000 in circulation. Godwin Emefiele, governor of CBN, said this move is an effort to tame the country’s  inflation. The governor said this on Tuesday while fielding questions from journalists at the monetary policy committee (MPC) meeting in Abuja. According to the governor, increasing the high denomination of the currency could be part of...

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Buhari Unveils New Naira Notes As CBN Plans to Reduce Volume of N500, N1000 in Circulation

BusinessNewsNigeriaBuhari Unveils New Naira Notes As CBN Plans to Reduce Volume of N500, N1000 in Circulation

By Ezinwanne Onwuka (Senior Reporter)November 24, 2022

President Muhammadu Buhari on Wednesday launched the redesigned 200-, 500- and 1,000-naira notes at the Council Chambers of the State House shortly before the commencement of the Federal Executive Council (FEC) meeting. This is coming a few weeks after the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, disclosed plans, backed by the President, to redesign the currency notes. In his speech, President Buhari said the redesigning of the naira notes would not only...

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In partnership with AMEC, P+ Measurement Services organizes annual Measurement Month in Nigeria

BusinessEducationNigeriaIn partnership with AMEC, P+ Measurement Services organizes annual Measurement Month in Nigeria

PilotnewsNovember 22, 2022

In collaboration with the International Association for the Measurement and Evaluation of Communication, AMEC, the leading intelligence agency in Nigeria, P+ Measurement Services, declared its interest to host the annual AMEC Measurement Month (#AMECMM) to enlighten PR and communications experts and professionals in Nigeria. The event is slated to take place on November 25th, 2022 from 12 pm to 1:30 pm (WAT). The purpose of this event, which will be held virtually on the Google...

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Digital Economy: “Nigeria Still has a Long way to go” – Geeksvillage founder

BusinessEconomyNewsNigeriaDigital Economy: “Nigeria Still has a Long way to go” – Geeksvillage founder

Ebuka Onyekwelu (Staff Writer)November 17, 2022

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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Patoranking Joins Konga as Brand Ambassador

Arts & CultureBusinessPatoranking Joins Konga as Brand Ambassador

By Ezinwanne Onwuka (Senior Reporter)November 11, 2022

LAGOS — Konga, Nigeria’s leading e-commerce company, has signed a major brand ambassadorship deal with Nigerian reggae-dancehall singer and songwriter, Patoranking. The partnership deal was sealed on Thursday, 3 November 2022 at Yudala Heights, Victoria Island, Lagos. The deal, which will run for a year, subject to renewal, will see Patoranking represent Konga as its lead brand ambassador and feature in the company’s promotional materials and campaign adverts. Speaking at the event, Dave Omoregie, the...

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Governor Soludo Presents 2023 Anambra Budget, the Biggest in the State’s History

EconomyNewsGovernor Soludo Presents 2023 Anambra Budget, the Biggest in the State’s History

Ebuka Onyekwelu (Staff Writer)November 10, 2022

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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Metro-Digital Limited To Acquire Some Multichoice Channels

BusinessFilm & TVNewsMetro-Digital Limited To Acquire Some Multichoice Channels

Hassan Umar Shallpella (Regional Correspondent)November 10, 2022

An end to years of monopoly in the digital broadcasting industry, the National Broadcasting Commission (NBC) has directed Multichoice to sublicense some of its channels to an indigenous digital broadcasting firm, Metro-Digital Limited. In a letter dated October 25, 2022, signed by the Commission’s Head of Legal, George Obi on behalf of the NBC Director-General said the directive was based on the provisions of the NBC Code as amended. The NBC letter, addressed to the...

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Real Reason Soludo Moved Trade Component, from the Ministry of Commerce and Industry

BusinessEconomySpecial ReportReal Reason Soludo Moved Trade Component, from the Ministry of Commerce and Industry

Ebuka Onyekwelu (Staff Writer)November 10, 2022

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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Naira Now Among Worst-Performing Currencies Globally — Report

EconomyMoneyNewsNaira Now Among Worst-Performing Currencies Globally — Report

By Ezinwanne Onwuka (Senior Reporter)November 7, 2022

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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