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The Central Bank of Nigeria (CBN) on Friday supplied a total of 197.71 million dollars to the foreign exchange market through sales to authourised dealers. The apex bank’s Director of Financial Markets Department, Dr Omolara Duke, disclosed this in a statement on Saturday in Abuja. She noted that the intervention aligned with the apex bank’s
Ignatius Chukwu, the South South Regional Editor of Business Day Newspaper, has expressed grave concerns over the current economic policies in Rivers State, describing them as experiencing “summersaults.” In an interview with our reporter, Favour Zimoni, Chukwu highlighted the stagnation of investments in the state as a critical issue affecting economic stability. Chukwu explained that
Promoters and operators of entities engaged in a prohibited scheme is liable to a penalty of not less than N20 million or imprisonment to a term of 10 years or both. Thr Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said it is one of the provisions of the newly signed Investments
International airlines that operate into Nigeria pay about N25bn annually for the towing of their aircraft, as the Federal Airport Authority of Nigeria has not been able to import the already procured aero bridges. In developed nations, aero bridges align with the aircraft doors, making immediate embarkation easy and swift. But in Nigeria, airlines pay
he Raw Materials Research and Development Council (RMRDC) has called on stakeholders in the rubber industry to support its quest for a review of the Act establishing the council. RMRDC’s Director-General, Prof. Nnayelugo Ike-Muonso, said this at a one-day Investment Forum on the Development and Rehabilitation of the Rubber Value Chain, in Owerri, on Monday. Ike-Muonso,
By Paul Chimodo In the bustling streets of Nigeria, a quiet revolution is taking place. Where once stood the ubiquitous recharge card vendors, now flourish Point of Sale (POS) terminal operators, forming a new breed of small business owners. As the economic climate becomes increasingly challenging, with rising unemployment and stagnating job opportunities, a growing
By Kasarachi Azuka, Asaba Any entrepreneur that has not become product-ready may be viewed as unserious. Now, Delta State seems to understand this and wants to make their entrepreneurs to avert that status. Details: Delta State Government has held a two-day Eco Action Summit/Fair wherein it trained entrepreneurs in the state to have products ready
China and other economic powerhouses in the world admit that Africa is the next frontier and that manpower development is the key to unlock the future human capital centre. For this, China is said to be desirous of creating a specialized training centre in Africa and Port Harcourt, Rivers State capital, seems to be a
The Transmission Company of Nigeria (TCN) has announced the arrest of three suspected vandals allegedly responsible for damaging power line installations in Agbogugu, Enugu State.In a statement issued in Abuja on Thursday, Ndidi Mbah, TCN’s General Manager of Public Affairs, said the arrest took place on March 24 through a joint effort between community members
The National Pension Commission (PenCom) has set June 1, as deadline for employers to fully adopt a new pension remittance process. The PenCom announced the launch of the pension contribution remittance system, a platform designed to optimise the process of remitting pension contributions into employees’ Retirement Savings Accounts (RSAs) on Thursday. According to a statement
