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NewsNigeriaPoliticsAnti-Corruption Agency Seals 10 Warehouses For Hoarding Grains In Kano

Hassan Umar Shallpella (Regional Correspondent)February 11, 2024

The Kano State Public Complaints and Anti-Corruption Commission has confiscated ten warehouses containing assorted foodstuffs in the Dawanau area of Dawakin Tofa Local Government Area of Kano State have been confiscated by the Kano State Public Complaints and Anti-Corruption Commission for alleged hoarding of grains to maximize profits. Mr Muhyi Magaji, the commission’s Chairman, disclosed this to newsmen shortly after confiscating the warehouses in Dawanau International Grains Market, Singer Market, and Kwari Textiles Market on...

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EconomyNewsNigeriaInflation rate in Nigeria jumps to 26.72%

By Ezinwanne Onwuka (Senior Reporter)October 17, 2023

Nigeria’s annual inflation rose in September to its highest level in about two decades at 26.72 per cent, amid a worsening cost-of-living crisis in Africa’s largest economy. The September inflation rate is a 0.92 per cent increase from August’s 25.80 per cent, the National Bureau of Statistics [NBS] said on Monday in its Consumer Price Index [CPI] report for September 2023. Food inflation, making up the bulk of Nigeria’s inflation basket, rose to 30.64 per...

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EconomyNewsNigeriaFCTA sets to develop innovative strategies to boost agricultural productivity

By Uzoamaka Ikezue (Staff Reporter)September 19, 2023

The Federal Capital Territory Administration (FCTA) through its Agriculture and Rural Development Secretariat (ARDS) is set to develop innovative strategies to enhance agricultural efficiency and productivity in the nation’s capital. Mr. Lawal Geidam, the secretary of the secretariat, stated this in Abuja, after receiving briefs from different departments in the secretariat on their operations, achievements, and challenges. The secretary noted that the secretariat would also educate and equip residents, particularly the youth, with the necessary...

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EconomyNewsNigeriaAnambra State Government Signs MoUs With Thirteen Organizations To Boost Development

PilotnewsSeptember 8, 2023

Anambra State Government has signed memorandum of understanding with thirteen organisations across different economic sectors including commerce and automobile. The MOU signing ceremony was highpoint of the Anambra Investment Summit, ANINVEST 2023, held at Anambra International Convention Centre, Awka. The MoUs were signed with Universal Elysium Ltd for the development of Onitsha River Port, Birds Water Ltd and Neni Development Union for the development of Neni Water Scheme, OMAA Global Engineering and Tech for the...

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BusinessNewsNigeriaPoliticsDiscrepancies In Fuel Importation: Reps seek forensic audit of NNPCL

By Uzoamaka Ikezue (Staff Reporter)May 25, 2023

To unravel the discrepancies in the importation and supply of Premium Motor spirit (PMS), the House of Representatives is seeking a forensic audit of the Nigeria National Petroleum Corporation Limited (NNPCL) also known as fuel from 2015 to date. According to the House ad-hoc committee, the volume of fuel consumed daily in the country, will give clarity to the Direct Sale, Direct Purchase (DSDP) programme and the consortiums of DSDP operators. The committee which report...

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BusinessNewsNigeriaLawyers say the Supreme Court ruling on old notes best for Nigeria

By Uzoamaka Ikezue (Staff Reporter)March 5, 2023

With regard to the cashless policy of the Central Bank of Nigeria (CBN), two Lagos based lawyers and an economist have said that obeying the Supreme Court ruling is the best way to go for the nation. Emeka Iheonu, a Lagos based lawyer and Alaowei Ebikonbowei Cleric, a human rights lawyer as well as a former World Bank/International Monetary Fund (World Bank/IMF) expert have hailed the court’s ruling, and stressed that as the highest court...

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NewsNigeriaPoliticsPresident Vows To Reposition The Nation’s Economy

Hassan Umar Shallpella (Regional Correspondent)January 13, 2023

Nigeria President Muhammadu Buhari has vowed to reposition the nation’s economy and improve security across the country before the end of his second tenure administration. President Buhari disclosed the State House Abuja while receiving Executive members of the Catholic Bishops’ Conference of Nigeria (CBCN) and noted that the security situation had improved over the years, particularly in the North East where the focus had shifted to rebuilding infrastructure and re-orientation on education. He told the...

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BusinessMoneyNewsNigeriaCBN Reviews Controversial Weekly Cash Withdrawal Policy

By Ezinwanne Onwuka (Senior Reporter)December 23, 2022

Fifteen days after pegging weekly over-the-counter cash withdrawals by individuals and corporate organisations at N100,000 and N500, 000, respectively, the Central Bank of Nigeria (CBN) has reviewed the controversial policy. In a memo issued on Wednesday and signed by Haruna Mustafa, the director of banking supervision, the CBN announced a new maximum cash withdrawal limit of N500,000 and N5,000,000 per week for individuals and corporate entities, respectively. The processing fee for withdrawals above the above-mentioned...

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BusinessNewsCentral Bank’s new cash withdrawal policy is illegal says human rights advocate, Femi Falana  

Beloved John (Staff Writer)December 13, 2022

Femi Falana, a human rights advocate, has described the new cash withdrawal policy introduced by the Central Bank of Nigeria (CBN) as illegal and null. Falana expressed his dissatisfaction in a statement on Monday The central bank had earlier disclosed that it has directed deposit money banks and other financial institutions to ensure that weekly over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500,000, respectively. The policy is expected to...

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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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