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Economy/Business


CBN Bows To Pressures, Reviews Cash Withdrawal Limits

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Nigeria Ready To Fill The Vacuum Created By Russia/Ukraine War In Europe’s Gas Sector – Minister

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We’re Ready To Impose Sanctions On Russia For Invading Ukraine – Nigerian Government

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The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has been accused of granting scandalous loans to some ‘powerful’ Nigerians, with each of them getting a minimum of about N2 billion. A member of the House of Representatives for Yankwashi/Roni/Gwiwa/Kazaure Federal Constituency, Gudaji Kazaure, dropped the bombshell in a viral video, claiming he …

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WASHINGTON, Jan. 10, 2023  Global growth is slowing sharply in the face of elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine, according to the World Bank’s latest Global Economic Prospects report. Given fragile economic conditions, any new adverse development—such as higher-than-expected inflation, abrupt rises in interest rates to contain it, …

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Following pressure from Nigerians, the Central Bank of Nigeria (CBN) has reviewed cash withdrawal limits it issued earlier. A circular issued by Haruna Mustafa, Director of Banking Supervision says the CBN has consequently makes the following reviews: The maximum cash weekly limit for cash withdrawal across all channels by individuals is now N500, 000 while …

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The Central Bank of Nigeria (CBN) has redesigned some new naira notes. Godwin Emefiele, CBN governor, said this at a press conference on Wednesday. Emefiele said the new design and issues will be effective from December 15, 2022. He advised Nigerians to take old notes to banks for the new notes. According to Emefiele, the …

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…as Bank commends Oyo govt Oyo State Governor, ‘Seyi Makinde, on Friday, maintained that the state government is delighted with the prospects and potential of the African Development Bank’s special agro-processing zone project sited in the state. The governor, who made this statement while receiving a team of the AfDB at the Governor’s Office, Secretariat, …

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If you still have any paper £20 or £50 notes in your wallet, today is your last chance to use them. After September 30, 2022, the Bank of England will be withdrawing the legal tender status from all paper £20 and £50 banknotes. Businesses and shops will not accept these notes as payment from October …

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…inspects Omi Tutun luxurious buses at Pacesetter Transport Service, Eleyele  See Video Here : https://youtu.be/SlGJRl6vpW8 Oyo State Governor, ’Seyi Makinde, on Thursday, declared that the Pacesetter buses soon to be launched by his administration will provide world-class transport service to the state. The governor while inspecting the Omi Tuntun luxurious buses at the Pacesetter Transport …

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  The Minister of State for Petroleum Resources, Mr Timipre Sylva, has disclosed that Nigeria is ready to offer its services as an alternative gas supplier to Europe as the war between Russia and Ukraine, which is threatening the supply of gas to European countries by Russia. The Minister urged the European Union (EU) to …

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  The President Muhammadu Buhari’s government has said Nigeria is ready to sanction Russia for invading Ukraine in line with the United Nations’ resolution to “adopt and impose sanctions” on the country. “On imposing (the) sanction, this is going to be a collective action. The United Nations has to act,” disclosed Nigeria’s foreign affairs minister …

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Nigeria and all other 10 countries on the travel red list will be removed as the system is “less effective in slowing the incursion” of the Omicron variant, Sajid Javid has announced. The health secretary said the countries will be removed from 4am on Wednesday, so passengers from those nations will no longer have to …

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Between January and August 2021, the value added tax, VAT, revenue generated by Oyo State was N64.646 billion, which was greater than the combined VAT revenue of Benue (N1.268 billion), Kogi (N3.286 billion), Kwara (N3.471 billion), Nasarawa (N2.495 billion), Plateau (N5.208 billion), Niger (N3.723 billion), Adamawa (N3.689 billion), Bauchi (N5.309 billion), Borno (N3.442 billion), Gombe …

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Makinde urges politicians to shun politics of bitterness …Oyo lucky to have you as governor, Senate Committee on Army says Oyo State Governor, ‘Seyi Makinde, has charged Nigerian politicians to shun political differences and maintain unity of purpose for the progress of the country. The governor, while receiving the members of the Senate Committee on …

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LEGALITY OR OTHERWISE OF THE DIRECTIVE TO PROSECUTE VIOLATORS OF TWITTER BAN IN NIGERIA – AJULO Sequel to the temporary ban of Twitter operations in Nigeria by the Federal Government on Friday, 4th June, 2021, my attention has been drawn to a directive credited to the Attorney General of the Federation for the prosecution of …

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  The Nigerian Diaspora Direct Investment Summit (NDDIS) in London has announced its next ‘face to face’ summit with the theme: “Computer Village” & Information Communication Technology (ICT) Summit. At an online Press conference, the founder of NDDIS, Otunba Bimbo Roberts Folayan announced that NDDIS had entered into collaboration with the ‘Computer Village – Market …

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The UK has promised to return to Nigeria £4.2m ($5.8m) which was stolen by a former governor according to BBC. Former Delta State Governor James Ibori was convicted of money laundering in the UK in 2012. He is thought to have stolen around £50m from the oil-rich state. This is the first time that money …

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