NAFDAC gives 50% waiver to SMEs The National Agency for Food, Drug Administration and Control (NAFDAC)has announced that it would give 50 per cent waiver on registration fee for locally manufactured products to promote Small and Medium Scale Enterprises (SMEs). Dr Abubakar Jimoh, the agency's spokesperson, made the disclosure. He said the new policy approved by the...... read more
CBN to revoke licences of MFBs, others for non- compliance The Central Bank of Nigeria, CBN, has said it would revoke the operating licences of micro finance banks, and other financial institutions, OFIs, due to non-compliance with anti-money laundering and combating terrorism financing, AML/CFT, regulations. Director, Other Financial Institutions Supervision Department, CBN, Mrs, Tokunbo Martins, stated this in a letter to...... read more
Gov. Umahi To Gov. Ikpeazu: 'We are here to Tap from your Ingenuity' Governor David Umahi of Ebonyi State says his visit to Abia was to tap from the ingenuity of Governor Okezie Ikpeazu, adding that his state government will partner with Abia, in the areas of Commerce, Internal Revenue Mobilization, Peace and e-Governance. Umahi  is currently on a 3-day working visit in Abia...... read more
Dangote partners GAC motors to supply operation vehicles Nigeria’s largest business conglomerate, the Dangote group, has signed a new business partnership deal with GAC Motor, one of the brands under the Choice International Group (CIG) to supply vehicles. CIG, a Chinese automobile group, which operates an ultramodern showroom and a vehicle assembly plant in Lagos, held a handover ceremony...... read more
We will revive Nigercem soon, FG assures The federal government said that it would assist in every measure to ensure that the Nigeria Cement Company (NIGERCEM), which had been the pride of the Eastern region, was brought back to full production. The Minister of Solid Mineral, Dr. Fayemi Kayode gave the assurance during his two-day working visit to...... read more
Ikpeazu receives Chinese Shoe Makers Barely one week after Governor Okezie Ikpeazu returned from China with the news of a Chinese shoe making Investment of $1.5billion in Abia, the management of Huajian Shoe Factory Guangdong China have paid a site visit to Abia to ascertain the level of preparedness of the state to host the planned...... read more
FG says it has moved N5.24trn into TSA Ali Ahmed Idris, the accountant-general of the federation, on Tuesday, said a total sum of N5.24trn had been “mopped up” into the treasury single account (TSA). According to TheCable, Idris also disclosed that over 20,000 accounts with deposit money banks belonging to ministries, departments and agencies have been closed down since...... read more
Abia State seeks Afreximbank support for industrialization plans A delegation from Abia State of Nigeria, led by Governor Okezie Ikpeazu, today in Cairo conducted a one-day visit to the Headquarters of the African Export-Import Bank (Afreximbank), holding discussions with Bank representatives on how the continental trade finance bank could support the state’s effort at industrialization. Ikpeazu told Afreximbank officials...... read more
Abia will no longer accept your unfair treatment, Ikpeazu tells SPDC Abia State Governor, Dr Okezie Ikpeazu, has told Shell Petroleum Development Company of Nigeria (SPDC) that the state will no longer accept the disdainful attitude of the multinational oil firm towards the people of the state. Shell has been operating in Ukwa West local government area of the state since 1958, and...... read more
Aba is manufacturing, business centre of Nigeria, says Osinbanjo The Acting President of Nigeria, Professor Yemi Osinbanjo has said that any attempt to improve and diversify the nation's economy must start with local manufacturers.Professor Osinbanjo, who spoke at the launch of the Federal Government's Micro Small and Medium Scale Enterprise Clinic, (MSME Clinic) in Aba, the commercial nerve center of...... read more
Dangote floats truck assembly plant Dangote Group of Companies has established a $100 million truck assembly plant in Lagos as part of its efforts to boost foreign exchange and job creation. The group said in a statement on Sunday in Lagos that the plant was floated by the group in partnership with National Heavy Duty Truck...... read more
NCC gives MTN, AIRTEL,GLO and others One Week Ultimatum On Unsolicited Messages The Director of Public Affairs of the Nigerian Communications Commission (NCC), Tony Ojobo has issued a statement mandating telecom operators to comply with the directive of the ‘Do Not Disturb’ (DND) scheme to address unsolicited messages or face appropriate sanction. Mr Ojobo, on Monday in Abuja, revealed that MTN, Airtel and...... read more
NBS: Inflation Hits 18.3 Percent From 17.9 The National Bureau of Statistics (NBS) has revealed that the Consumer Price Index (CPI) has increased to 18.3 per cent (year-on-year) in October from 17.9 per cent recorded in September. THEWILL disclosed that a report released by the NBS in Abuja, on Monday, noted that the CPI, which measures inflation, is...... read more
ExxonMobil ‘discovers’ 1bn oil barrels in Nigeria ExxonMobil Corporation, an international oil and gas company, has announced a significant discovery with a potential recoverable resource of between 500 million and 1 billion barrels of oil on the Owowo field offshore Nigeria. The Owowo-3 well, which was spud on Sept. 23, encountered about 460 feet (140 meters) of oil-bearing...... read more
Job Cuts not due to Recession, says Dangote The Dangote Group of Companies has denied reports that the disengagement of 36 expatriate and 12 Nigerian  workers  from the company was due to economic recession in the country, Mr Tony Chiejina, its Head of Corporate Affairs, told the News Agency of Nigeria (NAN) in Lagos on Monday  that the expatriates were disengaged...... read more
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