Tinubu’s First Anniversary Gift: FG Plans Fresh Cash Transfer To 75 Million Nigerians

By NewsBits The Federal Government on Tuesday said it had reinstated the suspended social investment programme, disclosing the scheme would provide direct payments to 75 million Nigerians in 50 million households to reduce the suffering of citizens, especially vulnerable groups. It stated that the cash transfer programme was overhauled to tackle fraud.The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, announced this at the ministerial sectoral briefing to mark the first year in office of the President Bola Tinubu administration in Abuja. On January 12, Tinubu…

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Zenith Bank Group MD Ebenezer Onyeagwu Bags Banking CEO Of The Year In Africa

The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, has been named the ‘Best Banking CEO of the Year in Africa’ at the International Banker 2024 Banking Awards, retaining this title for the second consecutive year. This award, published in the Spring 2024 issue of International Banker Magazine, United Kingdom, coincides with Dr. Onyeagwu’s completion of his five-year tenure as Group Managing Director/Chief Executive Officer on May 31, 2024. Speaking on receiving the award, Dr. Onyeagwu expressed his gratitude to the publishers of International Banker for…

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Mbah Lays Foundation Stone For 5-Star Int’l Conference Centre Hotel

By Tony Adibe Governor of Enugu State, Dr. Peter Mbah, performed the groundbreaking ceremony for the construction of the 5-Star International Conference Centre Hotel in Enugu at the weekend. This was as Governor Mbah also embarked on an inspection tour of the 5,000-capacity Enugu International Conference Centre, abandoned since over two decades, although his administration is currently completing and upgrading it to modern standards. Dr Mbah said the 5-Star facility, which he described as an investment enabler, was in line with his administration’s vision to make Enugu the preferred destination…

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Mass Sack Greets CBN, 7 Directors, More Than 90 Senior Management Staff Axed

The mass sack of Central Bank of Nigeria (CBN) staff, continued on Friday, as not less than seven directors, and more than 90 senior management staff were relieved of their jobs. Available information indicates that other cadres of staff affected were deputy directors, assistant directors, principal managers, senior managers, and even lower-cadre staff. This is another in series of sacks at the CBN since Yemi Cardoso, CBN governor assumed office last year. Some of those affected were directors in charge of Statistics department, trade and exchange department, policy regulatory department,…

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Nsukka Traders, Peace Mass Transit CEO, Onyeishi, Others Key Into Modern Transport Terminal

By Tony Adibe The Enugu State Government has allayed fears of traders at Ogige Market, Nsukka in Nsukka Local Government Area over the planned construction of a modern transport terminal in the area. The government assured that the newly built Aku Road Ultra-Modern Market would accommodate them all, while compensation would also be paid to traders whose structures would be affected by the project. The government’s assurance came as the Chairlady of Aku Road Ultra-modern Market, Nkemdilim Ugwuagbo, confirmed the existence of over 5,000 shops and empty plots for expansion…

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Sanwo-Olu’s Pension And Parable Of The Snakes

By Suyi Ayodele Lagos does not have restraints when it comes to spending money. His first name is Nínál’owó (Money is meant to be spent). His middle name is Gbogbo ejò jíjeni (All snakes are edible). But I won’t keep quiet while he puts my future in the incinerator of his ways. Lagos is like an agbara ojo (erosion). Yoruba elders say àgbàrá òjò ò’lóhun ò nílé wó, onílé ni ò nì gbà fun (the mission of erosion is to destroy the building; it is the owner that will resist…

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Governor Peter Mbah Takes Investment Drive To Austria, Signs MoU

Governor of Enugu State, Dr. Peter Mbah, has taken his investment drive to Vienna, Austria, where he held high level meetings with senior government officials, the business community and international development partners and also signed a Memorandum of Understanding, MOU, towards the development of the state. Mbah, who seeks to grow the state’s economy from $4.4bn to $30bn in four to eight years through private sector investment and strategic partnerships, met with the Austrian Minister of Interior, Gehard Karner; Minister of Labour and Commerce, Dr. Martin Kocher; Minister of Agriculture,…

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CBN Makes U-Turn, Withdraws Circular On Cybersecurity Levy

Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing financial institutions to implement the national 0.5 per cent cyber security levy after the policy was largely resisted. The withdrawal of the circular was announced through a statement signed by Haruna Mustafa, director, Financial Policy and Regulation, Department and Chibuzo Efobi, director, Payment System Management Department. The apex bank confirmed the suspension in a circular issued on May 17, 2024, with reference number PSMD/DIR/PUB/LAB/017/005 addressed to commercial banks, mobile money operators, and other financial institutions. In an earlier circular…

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End Of The Road For 96 Microfinance, Mortgage Banks As NDIC Obtains Court Order To Wind Them Down

The Nigeria Deposit Insurance Corporation (NDIC) has said that it has obtained Winding up Orders for 96 out of 183 microfinance and primary mortgage banks whose licenses were revoked by the Central Bank of Nigeria (CBN) in May 2023. Bello Hassa, managing director, NDIC, stated this at a sensitisation seminar for Judges of the Federal High Court in Lagos organised by the NDIC, to enlighten the judiciary on the intricacies of the banking industry. Hassan said, “As at date, the Corporation had obtained Winding up Orders for 96 out of…

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Fire Guts New NNPCL Terminal In Lagos

A fire has been reported at the new NNPC Terminal, formerly OVH, Kayode Street, Marine Beach, in the Apapa area of Lagos State. It was gathered that the Lagos State Fire and Rescue Service is attending to the fire, which resulted from a spillage of petroleum products within the perimeter of the tank farm. The Director and Chief Executive Officer, Lagos State Fire Service, Margaret Adeseye, told journalists that concerted efforts to contain the situation with various emergency responders within the oil and gas industry, were ongoing. As of 3:30…

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