Category: Business and Economy

News about Business and Economy in Nigeria and the world over

Opportunities for Youth Abound in Marine & Blue Economy – Oyetola

News Editor

Ifedayo Abiola, Ile – Ife The Honourable Minister of Marine and Blue Economy, Alhaji @GboyegaOyetola, represented by the Managing Director, @NigerianPorts, Dr. @AbuDantsoho, said that the blue economy sector promises a wealth of benefits for the growing youth population of Nigeria. The Minister disclosed this on Wednesday, at the 2024 International Conference, titled, ‘Advancing Entrepreneurship Education and Practice for Sustainable Development in Africa,” organized by the Institute for Entrepreneurship and Development Studies (IFEDS), Obafemi Awolowo University, Ile-Ife, Osun State. Other dignitaries at the Conference are the Vice Chancellor Obafemi Awolowo…

Read More

Senate Rejects Bill To Create  Foreign Exchange Market in Nigeria

News Editor

Olasunmibo Aboluwade, Abuja  The Senate on Thursday failed to approve a Bill seeking to establish a foreign exchange market in Nigeria. The proposed law was sponsored by the Chairman, Senate Committee on Finance, Senator Sani Musa (APC Niger East). The Bill also seeks to make provisions for the control, monitoring and supervision of transactions conducted in the Foreign Exchange Market.  The proposed law is titled, “The Foreign Exchange (Control And Monitoring) Bill, 2024 (SB. 353). It was read for the first time on Tuesday, February 20, 2024.  In his Lead…

Read More

CBN Bans Use of Foreign Currency Denominated Collaterals For Naira Loans

News Editor

Olasunmibo Aboluwade, Abuja The Central Bank of Nigeria, (CBN), has banned the use of foreign currency denominated collaterals for naira  loans . This is contained in a memo by the CBN to all banks operating in the country. The memo with references, BSD/DIR/PUB/LAB/017/004, dated April 8, 2024,  was signed by Dr Adetona S. Adedeji,  Acting Director, Banking Supervision  Department . It was titled, Letter to All Banks: The Use of Foreign-Currency-Denominated Collaterals For Naira Loans Part of the letter read, “The Central Bank of Nigeria has observed the prevailing situation…

Read More

Eyiboh, Mudashir, Others Inducted Into NIPR As Minister inaugurates Board

News Editor

Iseoluwa Ajoke, Abuja  The Nigerian Institute of Public Relations (NIPR) Tuesday inducted 24 new members into the institute just as the Minister for Information and National Orientation, Alhaji Mohammed Idris inaugurated its 2023-2025 Governing Board. Among those inaugurated as members of the institute were the former spokesman for the House of Representatives and current Special Adviser on Media and Publicity, to the President of the Senate, Hon. Eseme Eyiboh. Also initiated into the institute was the Senior Special Assistant on Strategic Communications (Communications Adviser to the President of ECOWAS), Linda…

Read More

Tinubu Signs N28.78trn 2024 Appropriation Bill Into Law

News Editor

Olasunmibo Aboluwade, Aboluwade  President Tinubu signs N28.78 trillion 2024 appropriation bill into law in his office, State House Abuja With him are Senate President Goodswill Akpabio(left), Speaker of the House Representatives, Tajudden Abbas(3rd right),  Minister of Budget and Economic Planning, Abubakar Bagudu(right),Chairman senate Committee on Appropriation Senator Solomon Adeola(2nd left), and Chairman House Committee on Appropriation Hon. Abubakar Kabir Bichi.

Read More

Ogun Assembly Passes N703.02bn 2024 Appropriation Bill

News Editor

…Reviews Estimates Of 18 MDAs, Others Daniel Feranmi, Abeokuta  Ogun State House of Assembly has passed the Year 2024 Appropriation Bill of N703,028,013,431.64 earlier presented to it for consideration by Governor Dapo Abiodun. The Appropriation Bill was  presented about four weeks ago, with a review in the capital and recurrent expenditures as well as projected revenue of 18 Ministries, Departments and Agencies (MDAs). The Bill was titled: “A Bill for a Law to authorise the issue and Appropriation of the sum of Seven Hundred and Three Billion, Twenty-Eight Million, Thirteen…

Read More

Senate Calls For More Legislative Exchange Programmes With Ireland

News Editor

Olasunmibo Aboluwade, Abuja  President of the Senate, Godswill Akpabio has harped on the need for legislative exchange programs between the Republic of Ireland and Nigeria. Akpabio made the call on Thursday, while receiving in courtesy, the Ambassador of Ireland, Peter Ryan and his entourage in his office in Abuja.  The Chairman of the National Assembly, while receving the Irish Envoy and his team, relieved the robust relationship he had had with a former Irish Ambassador when he was the Governor of Akwa Ibom State from 2007-2015.  A statement by his…

Read More

Robust Fiscal Policy, Essential To Economic Growth – Sani Musa

News Editor

Olasunmibo Aboluwade, Abuja The Chairman, Senate Committee on Finance, Senator Sani Musa, has underscored the need for a robust fiscal policy through collaboration between the legislature and the executive arm of government, as the best way to guarantee economic growth. Musa stated this on Thursday at an interactive session on the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-FSP) coordinated by his Committee. The Chairman sought the cooperation of the executive arm of government in his committee’s determine to ensure drastic increment in the nations revenues to meet…

Read More

Tinubu Sacks CBN Gov, Deputies, Appoints Cardoso, Others As Replacements

News Editor

Olasunmibo Aboluwade, Abuja President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five years at the first instance, pending his confirmation by the Nigerian Senate. The  directive, according to a statement by his media aide, Ajuri Ngelale, on Friday, was in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007. The section vested in the President of the Federal Republic of Nigeria, the authority to appoint…

Read More

Abiodun mourns Akintola Williams, says demise marks end of an era

News Editor

Olasunmibo Aboluwade, Abuja Governor Dapo Abiodun of Ogun State has described the passing of Nigeria’s pioneered Chartered Accountant, Akintola Williams, as the end of an era. Akintola was reported to have died on Monday at his residence in Lagos at the age of 104. The governor, in a statement he personally signed, eulogized the immeasurable contributions of the late Accountant to the field of Accountancy, saying his impacts in the profession will continue to be remembered and celebrated among generations of Accountants in years to come. He, therefore, prayed for…

Read More