Posts in category

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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Ekiti State has continued to be in the news for positive reasons since Mr. Biodun Oyebanji assumed office as the state’s governor. The state was in the news as the Safest State in Nigeria, void of insurgencies, banditry, and other forms of insecurity, according to the StatiSense 2022 report. Ekiti State also ranked number one …

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The Oyo State Government has earmarked N26.68 billion for the rehabilitation and asphaltic improvement of 12 Ibadan township roads. This was disclosed by the Oyo State Commissioner for Public Works, Prof. Daud Sangodoyin, on Wednesday in Ibadan while briefing journalists on the outcome of the weekly State Executive Council meeting. The 12 roads which sum …

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As the Chairman, CEO and Group Managing Director of Immaculate Group, Reverend Dr. Philip Bukola Oyewale (PBO) is a force to reckon with and an inspiration to all aspiring men of God and business entrepreneurs. Popularly referred to as PBO (his initials) by his diverse congregation and mentees, Reverend Philip Bukola Oyewale is an ordained …

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  …TOWARDS ONGOING ELECTRICITY PROJECTS IN OYO Oyo Descendant Union in the United Kingdom has donated the sum of one million naira towards the ongoing electrification project in Oyo town. It was a joy at the residence of the Chairman, Oyo Metro Development Association (OMDA) His eminent Archbishop Peter Oladigbolu, when a prominent and distinguished …

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The federal government has announced a N5 billion palliative for each state of the federation, including the federal capital territory (FCT), to cushion the impact of the removal of the petrol subsidy. Babagana Zulum, governor of Borno state, made the announcement in Abuja on Thursday when he spoke to State House correspondents at the end …

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President Bola Tinubu has on Wednesday released portfolios of his  Ministers. President Tinubu has appointed immediate past governors of Rivers and Ebonyi states, Nyesome Wike and Dave Umahi as Ministers of FCT and Minister of Works, respectively.   Below is the full list as received from our State House source. Paypal KBJOJO via https://paypal.me/kbjojonewsbox?country.x=GB&locale.x=en_GB CurrencyRate …

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  The United States has said China has the potential to influence the Nigerian government through Chinese loans. This was stated in the Integrated Country Strategies document by the US Department of State, which was obtained by The PUNCH. The document was originally approved on April 6, 2022, but was reviewed and updated on June …

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West Africa’s regional bloc on Wednesday said a military intervention in junta-ruled Niger was “the last resort” as Nigeria cut electricity supplies to intensify pressure on the country’s coup leaders. As ex-colonial power France sent in a fifth plane to evacuate its citizens, coup leader General Abdourahamane Tiani insisted they had no reason to quit …

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Trillions of dollars are wasted on subsidies for agriculture, fishing and fossil fuels that could be used to help address climate change instead of harming people and the planet, a World Bank report says. The report, Detox Development: Repurposing Environmentally Harmful Subsidies, says global direct government expenditures in the three sectors are $1.25 trillion a year—around …

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  Oyo state government on Thursday expressed its readiness to set up an interim management team for the Park Management System (PMS) in the state. This is contained in a communique issued at the end of stakeholders’ meeting on repositioning of activities of the PMS held at state Secretariat in Ibadan. The stakeholders’ meeting had …

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  President Muhammadu Buhari has congratulated the winner of this year’s Presidential Election, the candidate of the All Progressives Congress, APC, Asiwaju Bola Ahmed Tinubu. Reacting to the presidential election results announced this morning by Chairman of the Independent National ElectoralCommission (INEC), Prof Mahmoud Yakubu, President Buhari said: “I congratulate His Excellency Bola Ahmed Tinubu …

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Nigerian bonds are posting some of the best gains in emerging markets as investors bet that Tinubu, who’s taken an early lead in the nation’s presidential election tally, will offer reforms to pull Africa’s largest economy out of a fiscal mess.   Nigerian Eurobonds Gain for a Third Day Nigeria’s dollar bonds gained for a third …

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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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