Naira crashes in value, now exchanging at N420 to a dollar The Nigerian Naira suffered a continuous decrease in value in parallel market yesterday March 12, as it exchanged between N405 and N420 to a dollar in some Bureau De Change facilities.        President of Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe who confirmed the development, blamed...... read more
Ikpeazu seeks partnership with AfDB to transform state into industrial hub Abia State Governor, Okezie Ikpeazu, Wednesday, told the African Development Bank that a thriving entrepreneurship industry and agricultural base in the State are the foundation for the creation of a potentially viable industrial hub. He spoke at a meeting with the African Development Bank President, Akinwumi Adesina, at the Bank’s headquarters...... read more
Gov. Ikpeazu to meet AfDB President in Abidjan today   Governor Okezie Ikpeazu will later today hold a meeting with the President of the Africa Development Bank, Dr. Akinwumi Adesina in Abidjan, the capital of Cote D'Ivoire. The meeting, which is at the instance of Dr. Adesina is a follow up to the earlier meeting between the Governor and the...... read more
IGR: How Abia Hit the N1bn Mark in January, Paid New Minimum Wage – Aham Uko Abia State has met her target of hitting the N1bn mark in her internally generated revenue drive for the month of January 2020 thereby significantly raising her revenue profile while also paying the new minimum wage agreed by the Federal Government and Labour to its civil servants without any rancour or...... read more
Abia New year Inferno: Ikpeazu commiserates with traders   Governor Okezie Ikpeazu has expressed his deepest commiserations with Traders at the popular Timber Market at Ndume, Umuahia over the fire incident that ravaged parts of the market a few days ago, describing the incident as very unfortunate.  The Governor sympathized with those who lost property at the market and...... read more
Govt, banks, lodge N13.9 trillion in CBN The Central Bank of Nigeria (CBN) received N13.97 trillion deposits from the Federal Government and commercial banks in 30 days, the apex bank’s economic report released on Monday has shown. Further analysis of the report, which is for the last month of 2019, showed a dip in private sector deposit with...... read more
Dangote Petroleum Refinery to save $11b for Nigeria - Minister Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said Dangote Petroleum Refinery will save the nation $11 billion. The money would have been used for importation of petroleum products. The minister noted that the refinery will also encourage other investors to better understand the need to invest in...... read more
Fuel importation to end by 2023 - NNPC The Federal Government has shifted the deadline to stop importation of petrol from 2019 to 2023. In February 2017, the immediate past Minister of State for Petroleum Resources, Ibe Kachikwu, had said Nigeria would stop importing refined petroleum products by 2019. “By 2019, we should be able to exit completely the...... read more
Fashola requests additional N255.6bn for road repairs The Federal Government is currently constructing and rehabilitating 524 highways and bridges across the country, the Minister of Works and Housing, Babatunde Fashola, has said. Fashola, who said this while updating the Federal Executive Council on the ongoing road and bridge construction/rehabilitation projects nationwide, highlighted 80 of them as priority projects...... read more
FG reviews stamp duty, raises threshold from 1,000 to N10,000 The Federal Government has reviewed the N50 stamp duty charges on electronic payments in the country after receiving backlash from Nigerians and industry stakeholders. A Financial Bill currently before the National Assembly stated the N50 charge would be imposed on transactions above N10,000 as against payment above N1,000 that had taken...... read more
Equipment installation commences at the first Automated Shoe factory in Abia The Abia state Governor, Dr. Okezie Ikpeazu has handed over the machines procurred for the Automated shoe factory to the Chinese Engineers for onward installation at the Enyimba Automated Shoe Company.     According to Sam Hart, who is the Project Co-Facilitator, the handing over was performed today, Tuesday, November 26, 2019 at...... read more
BREAKING: Investment inflows into Nigeria dropped by $460m in Q3 —NBS The National Bureau of Statistics on Monday said the investment inflows into Nigeria declined by $460m from $5.82bn in the second quarter of this year to $5.36bn in the third quarter.   The NBS said this in its Capital Importation Report which was released on Monday.   The report revealed that...... read more
Nigeria’ll reopen borders before AfCFTA begins operations – Afreximbank President of the Africa Export-Import Bank, Prof Benedict Oramah, has urged Nigeria and other African countries to deploy technology in monitoring their borders. Oramah spoke at the second edition of the African Investment Forum, which opened in Johannesburg, South Africa, on Monday. Answering a question on the relevance of African Continental...... read more
Ikpeazu to Participate in the 2019 African Investment Forum in SA   The Governor of Abia State Okezie Ikpeazu Ph.D on the invitation of the President of the African Development Bank (AfDB) Dr Akinwumni Adesina is participating at the 2019 Africa Investment Forum (AIF) holding from November 11 to 13 2019 in Johannesburg South Africa. This event is being attended by many...... read more
2019 African Investment Forum to focus on transactions — AfDB Ahead of the second edition of the African Investment Forum, which opens in Johannesburg on Monday, the African Development Bank and the South African government have said that the forum would focus on transactions. Addressing a press conference in Pretoria on Sunday, the two entities said the forum would be short...... read more
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