Category: BUSINESS

EEDC Announces Total System Collapse In South-East Region

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By NewsBits The Enugu Electricity Distribution Company PLC (EEDC) has announced total collapse of power supply to her customers within the South-East zone at the early hours of Monday April 15, 2024, which resulted in the loss of supply to all EEDC interface TCN stations. However, the situation is gradually being resolved according to a statement released by the Head, Corporate Communications, EEDC, Mr Emeka Ezeh; NOTICE OF TOTAL SYSTEM COLLAPSE The Enugu Electricity Distribution Company PLC (EEDC) wishes to inform her esteemed customers of a total system collapse which…

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SON Carries Out Market Surveillance To Ascertain Quality Of Products

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By NewsBits The Standard Organisation of Nigeria (SON) says it is carrying out regular market surveillance to ascertain quality and gather data on products’ performances in the markets. The Direction General of the organisation, Dr Ifeanyi Okeke, disclosed this during SON Special Day at the ongoing 35th Enugu International Trade Fair. Okeke said that Enugu International Trade Fair offers great opportunities to reach out to Nigerian and Foreign manufacturers and other businesses on the activities and the impact SON was creating in the growth of businesses in Nigeria, particularly the…

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How I Collected $3million Cash For Emefiele…Ex Zenith, CBN Employee

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A Central Bank of Nigeria (CBN) employee, Mr Monday Osazuwa, on Friday, told an Ikeja Special Offences Court how the former apex bank governor, Godwin Emefiele, on different occasions, directed him to collect three million dollars cash in tranches. Osasuwa, while being led in evidence by the Economic and Financial Crimes Commission (EFCC) counsel, Mr Rotimi Oyedepo (SAN), said he was a dispatch rider in Zenith Bank in 2001 before he joined the CBN in 2014. Osasuwa said he joined the apex bank as a senior supervisor in 2014. He…

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ANAMMCO Urges Governments To Prioritise Patronage Of Locally-Made Vehicles

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By NewsBits ANAMMCO, a Nigerian Commercial Vehicle Company, has urged governments at all levels and corporate organisations to prioritise patronage of locally manufactured vehicles to create employment and boost the nation’s economy. The General Manager of ANAMMCO, Ms Chinelo Igwe, made the call on Thursday during a press conference at the ongoing 35th Enugu International Trade Fair. The fair, which began on Friday, April 5, is themed: “Promoting made in Nigeria products for global competitiveness.” Igwe noted that patronage of locally made vehicles would boost production and massive employment that…

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Minister Dave Umahi Tackles Atiku, Will Provide Cost Of Lagos-Calabar Coastal Highway Friday

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The Minister of Works, David Umahi, has said the total cost and breakdown of the ongoing Lagos-Calabar coastal highway project will be made available to the public on Friday. This development was contained in a statement signed by the minister’s Special Adviser on Media, Orji Uchenna, on Tuesday in Abuja. Umahi also explained that despite the soaring costs of materials in the construction industry due to commodity price inflation and supply chain disruptions, the ministry is committed to prudence, cost-effectiveness, promptness, and quality delivery of road projects will remain unmatched.…

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Air Peace Clarifies Leaving Passenger At Gatwick Airport

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The management of Air Peace has denied claims that it abandoned a passenger and closed its counter for its Gatwick to Lagos flight on Monday. Mr Stanley Olisa, Corporate Communications Lead of the airline, stated this in a statement issued on Tuesday in Lagos. According to Olisa, the airline’s explanation became necessary after a video surfaced on social media alleging that it abandoned a Lagos-bound passenger at Gatwick Airport. “The video has claimed that the airline closed its counter before closing time because the aircraft was overbooked on the London…

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LCCI Calls On The CBN To Reconsider MPR Hike Stance

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The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to reconsider its monetary policy stance and avoid further increases in the interest rate. The News Agency of Nigeria (NAN) reports that the CBN, on March 26, increased the Monetary Policy Rate (MPR) from 22.75 per cent to 24.75 per cent. In a statement on Friday in Lagos, LCCI Director-General, Dr Chinyere Almona, argued that while the CBN’s objective of containing inflation and stabilising exchange rate is commendable, it must be pursued in a…

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National ID: NIMC Appoints SecureID Manufacturer, Introduces Social Features

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The National Identity Management Commission (NIMC) has appointed SecureID, a Lagos-based company as first manufacturer of National Domestic Card Scheme, AfriGo Card, an innovative identity solution with payment functionality for all types of social and financial services. The appointment is in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS). A statement signed by the Head of Corporate Communications at NIMC, Kayode Adegoke, said the National ID card, layered with verifiable national Identity features, is backed by the NIMC Act No. 23 of 2007,…

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Enugu To FG: Actualise Resolve To Build Enugu Inter’l Trade Fair Complex

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By Tony Adibe The Enugu State Government on Friday advised the Federal Government of Nigeria to Actualise its resolve and pledge to build the Enugu International Trade Fair complex to international standard in line with its master plan. Enugu State Governor Peter Mbah made gave the advice on Friday in Enugu while declaring open the 35th Enugu International Trade Fair. Themed, “Promoting Made in Nigeria products for global Competitiveness,” the international trade fair , an annual event, is being organized by the Enugu Chamber of Commerce Industry Mines and Agriculture…

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Aero Contractors Responds To NAAPE Protest, Affirms Payment To 94.94% Of Affected Staff

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Aero Contractors, countering NAAPE’s claims, confirms payment to 225 of 237 staff made redundant in 2017, accounting for 94.94%. Additionally, the airline asserts it hasn’t shirked its responsibility, actively addressing, and resolving the issue. Expressing dismay at NAAPE’s approach, Aero Contractors Management highlights its efforts in resolving outstanding benefits before the ultimatum. It underscores the company’s transparency and engagement with affected staff throughout the process. Aero’s statement clarifies that 95% of affected personnel have been compensated, with plans underway to settle the remaining 5%. Despite industry challenges, including operational shutdowns…

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