NNPC Weekly: High Expectations as Buhari Unveils New NNPC

BusinessNigeriaOil & GasNNPC Weekly: High Expectations as Buhari Unveils New NNPC

PilotnewsMay 23, 2022

By Edith Ike-Eboh and Emmanuel Afonne Activities for the week at the Nigerian National Petroleum Company Limited (NNPC Ltd), started with a cheering news that President Muhammadu Buhari will unveil the new NNPC on July 18. This was disclosed within the week by the Group Managing Director/Chief Executive Officer of NNPC, Malam Mele Kyari, at the opening ceremony of the 8th African Petroleum Congress and Exhibition (CAPE VIII) which held in Luanda, Angola. Kyari said...

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N5, N10, N20 Will Be Out Of Circulation Soon — CBN

MoneyNewsNigeriaN5, N10, N20 Will Be Out Of Circulation Soon — CBN

By Ezinwanne Onwuka (Senior Reporter)May 23, 2022

ABUJA — The Central Bank of Nigeria (CBN) has disclosed that the N5, N10 and N20 denominations of the naira notes will be phased out of circulation. CBN consultant on e-Naira, Dr. Aminu Bizi made the disclosure at a sensitisation exercise on Friday at the popular Ogbogonogo Market, Asaba, the Delta State capital. Dr Bizi explained that the lower denominations have been weakened owing to the declining purchasing power of the naira, adding that the...

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Experts Foresee Nigerians Saving 40% of Energy Cost from Autogas Conversion

EconomyNewsOil & GasExperts Foresee Nigerians Saving 40% of Energy Cost from Autogas Conversion

Bada Yusuf Amoo (Correspondent)May 22, 2022

ABUJA — Automobile experts have expressed optimism that Nigerians will be able to save about 40% of energy cost with the taking off of the Autogas conversion initiative which sought to convert ordinary PMS/gasoline vehicles to run on the LGP and LPG Gases. The Federal Government, through the office of the Minister of State for Petroleum Resources, Timipre Sylva, had in January 2022, said that Nigeria would begin the conversion of petrol-powered vehicles to Autogas...

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Airtel’s SmartCash to Revolutionise Financial Services – CEO

BusinessTelecommunicationAirtel’s SmartCash to Revolutionise Financial Services – CEO

PilotnewsMay 19, 2022

LAGOS — SmartCash Payment Service Bank Ltd., (SmartCash PSB) will revolutionise the financial services landscape as it becomes operational in the country, says Airtel Africa. Mr. Segun Ogunsanya, the Chief Executive Officer of Airtel Africa made this known in a statement made available to Nigerian Exchange Ltd. (NGX) on Thursday in Lagos. Ogunsanya said that the services would initially be available at selected retail touch-points, while the operations would be expanded gradually across the country...

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Farmers Not Repaying Loans; Believe It’s ‘National Cake’, CBN Laments

AgricultureMoneyNewsFarmers Not Repaying Loans; Believe It’s ‘National Cake’, CBN Laments

By Ezinwanne Onwuka (Senior Reporter)May 19, 2022

The Central Bank of Nigeria (CBN) has lamented that farmers refuse to pay back the loans obtained under the Anchor Borrowers’ Programme (ABP), believing it’s ‘national cake’. “Many of the farmers refused to pay back their loans due to misconception that since CBN is the lender, the loan is a ‘national cake’ and they do not have to pay back what they consider theirs as citizens,” Sadeeq Ajayi, a spokesperson for CBN said on Wednesday....

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Russia-Ukraine War: FG Warns Businesses, Organizations of Possible Cyber Attacks

BusinessNewsRussia-Ukraine War: FG Warns Businesses, Organizations of Possible Cyber Attacks

Bada Yusuf Amoo (Correspondent)May 18, 2022

The National Information Technology Development Agency (NITDA) has sent warning notes to businesses and organizations of the possible spillover of cyber-attacks as a result of ongoing Russia’s invasion of Ukraine. The Head of the Corporate Affairs and External Relations of the NITDA, Hadiza Umar, gave the warning in a statement in Abuja on Monday. Umar said the invasion had increased cyber-attacks on businesses and government organizations and called for more precautionary measures. She said organizations...

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Elon Musk Explains What Is Halting the Progress of His $44bn Twitter Deal

InvestingElon Musk Explains What Is Halting the Progress of His $44bn Twitter Deal

Bada Yusuf Amoo (Correspondent)May 18, 2022

The billionaire founder of Tesla Inc., Elon Musk, has said that his $44 billion Twitter deal “cannot move forward” until the social media company shows proof of its spam account figures. The billionaire entrepreneur said this in a tweet on Tuesday. In a filing earlier this month, Twitter estimated that fewer than 5 per cent of its monetizable daily active users in Q1 were bots or spam accounts. But Musk claimed that around 20 per...

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Dollar Hits N600 At Parallel Market as Forex Supply Shrinks

MoneyNewsDollar Hits N600 At Parallel Market as Forex Supply Shrinks

Bada Yusuf Amoo (Correspondent)May 18, 2022

The dollar exchanged at N600 on Monday at the parallel market, heightening fears of a further devaluation of the nation’s currency. The rate at the Importers and Exporters Window was, however, N415.75 on Monday, widening the exchange rate spread to N184.25. At Zone 4 in Abuja, which is the hub of the parallel market in the Federal Capital Territory, two Bureau de Change Operators, Mohammed Isa, and Abu Abdullahi, told newsmen that the rate was N599/$ at...

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Google Announces $4m Black Founders Fund for 60 Start-ups Across Africa

BusinessInvestingTelecommunicationGoogle Announces $4m Black Founders Fund for 60 Start-ups Across Africa

PilotnewsMay 17, 2022

Google on Tuesday said that 60 eligible  black-founded  start-ups  would receive  a total of four million dollars  in the second  cohort  of Google  for Start-up  Black Founders Fund  (BFF) Mr. Folarin Aiyegbusi, Google’s Head of Start-up Ecosystem, Africa,  made this known in a statement announcing the opening of applications for Google for Start-up Black Founders Fund for Africa. Aiyegbusi said that following the success of the first cohort in 2021, Google increased its commitment in 2022 with additional...

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Ondo Govt Engages Youths With Farming To Dissuade Them From Money Rituals

AgricultureJobsNewsOndo Govt Engages Youths With Farming To Dissuade Them From Money Rituals

By Ezinwanne Onwuka (Senior Reporter)May 13, 2022

The Ondo government says it has concluded plans to use agriculture to discourage youths in the state from engaging in money rituals. Akin Olotu, Senior Special Assistant to Governor Rotimi Akeredolu on agriculture and agribusiness, disclosed this on Thursday in Akure when the executives of the Nigeria Union of Journalists (NUJ), Ondo council, paid him a courtesy visit. Olotu, who noted that opportunities abound in agriculture, revealed that some youths in the state had started...

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