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Why Nigeria must save oil revenues - IMF
News

Shipping cost surge caused global inflation – IMF

  The International Monetary Fund has linked the current global inflation with the upsurge of the shipping costs. IMF stated in a newly composed report with the title “the costs of misreading inflation,” that by October, 2021, the indices of the cost of transporting containers by maritime freight had climbed by almost 600%, while the […]

CBN fines banks N1m daily over refusal of new naira
Business

New naira: Business activities lag in Anambra over scarcity

Oluwanifemi Ojo   The residents of Anambra have gathered in banks and markets across the region’s major cities following the January 31 deadline set for the old nkte to stop being a legal tender.     The Punch observed while moving across different regions and some part of Awka on Saturday that traders have been […]

Economy

Imo govt to use tourism as economy booster

Bisola David     The Imo State Government has made public its plans to use tourism to grow the state’s economy.   The Punch reported that the state commissioner for tourism, Jerry Egemba, reaffirmed the commitment of the government to the development of tourism in the state and its openness to welcome investors in the […]

Appeal Court overturns Emefiele’s asset forfeiture order
Economy

New naira: No reason to shift Jan 31 deadline, says CBN

Oluwanifemi Ojo   The governor of Central Bank of Nigeria has again stated that the deadline for phasing out the old note remains January 31.   This was said in a video from the just concluded Monetary Policy Committee held on Saturday. The video was posted on the verified Twitter page of CBN stating that […]

New naira note: CBN insist on January 31st deadline
Economy

New naira: Buhari assures Nigerians of speedy circulation

The President, Major General Muhammadu Buhari (Ret’d.), has assured that the government will ensure that citizens are unharmed in their businesses and no disruption is caused to the entire supply chain arising from the imminent deadline of the new naira swap.   Buhari gave this assurance in a statement issued by the Senior Special Assistant […]

Oil and Gas

Eni signs $8bn gas deal with Libya

Oluwanifemi Ojo   The chief executive of Italian energy company Claudio Descalzi, said on Saturday that Italian energy company and Libya’s National Oil Corporation have a gas production deal of $8 billion.   The National Oil Corporation in Libya, announced on Wednesday January 25 that it had reached a deal of $8-billion with ENI, Italian […]

Aviation

UK airline Flybe enters administration, halts flights, trading

Oluwanifemi Ojo   Flybe and the British Civil Aviation Authority (CAA) said on Saturday that Flybe has stopped trading and cancelled all scheduled flights.   In a statement written by CAA “Flybe, which operated scheduled services from Belfast City, Birmingham and Heathrow to airports across the United Kingdom and to Amsterdam and Geneva, has ceased […]

Economy featured

Imported goods stunting Nigeria’s domestic production – Presidency

Bisola David     The Special Adviser to the President on Media and Publicity, Femi Adesina has said that Nigerian consumers should adopt a different mentality and support locally made items, particularly in the agricultural sector, to increase revenue and jobs.   The Punch reported that he said this while speaking at a one-day seminar and […]

Business

Nasarawa boosts small businesses with N500m

Kazeem Owoseni     The Nasarawa State Government in collaboration with the bank of industry, has come up with another business strategy, by setting aside a total sum of N500 million as loans, to be given to the state’s indigenes for improving micro, small and medium enterprises across the the thirteen Local Government Areas, in […]

Buhari to inaugurate Dala International Inland Dry Port on Jan. 30
Business featured News

Buhari to inaugurate Dala International Inland Dry Port on Jan. 30

The Dala International Inland Dry Port in Zawachiki, Kumbotso Local Government Area, Kano State, will be formally inaugurated by President Muhammadu Buhari on Monday, January 30. According to a statement by the managing director of Dala Inland Dry Port, Ahmad Rabiu, the port is the first international inland dry port to carry commodities from Kano […]

New naira note: CBN insist on January 31st deadline
Banking

We’re not hoarding new naira, banks debunk CBN’s claims

Oluwanifemi Ojo   Commercial bank operators in Nigeria have disputed assertions made by the Central Bank of Nigeria that they are hoarding naira notes despite having enough supply.   The claims of the Central Bank of Nigeria were countered by the officials of commercial banks that appeared before the ad hoc committee of the House […]

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