PenCom Advises Artisans, Traders, Self-Employed To Enrol In Micro Pension Plan

By Tony Adibe The National Pension Commission (PenCom) has advised artisans, traders, and other self-employed people to enrol in the Micro Pension Plan of the commission to guarantee a functional retirement plan they can always bank on.   The Head, Corporate Communications of PenCom, Abdulqadir Dahiru, gave the call in Enugu on Thursday while explaining the importance of the Micro Pension Plan to Nigerians in the informal sector and those working in organizations with less than three employees. Dahiru, who explained that the commission is at the ongoing Enugu International…

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Huge Nigerian Debt Profile: Chinese Bank Rejects FG’s $22bn Loan Request

By NewsBits The House of Representatives, on Tuesday, approved the request by the Federal Government to borrow $973,474,971.38 from China Development Bank. This followed the decision by the China-Exim Bank to reject Nigeria’s $22,798,446,773 loan request earlier approved by the National Assembly. The Chairman of the House Committee on Rules and Business, Abubakar Fulata, moved a motion for the legislative chamber to amend its resolution granting approval for the failed loan deal. The motion was titled ‘Rescission of the 2016–2018 Federal Government External Borrowing (Rolling) Plan.’ Moving the motion, Fulata…

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Zenith Bank Caps The Year 2022 With Impressive 24% Growth In Gross Earnings

Zenith Bank Plc has announced its audited results for the year ending December 31, 2022, achieving an impressive double-digit growth of 24% in gross earnings from NGN765.6 billion reported in the previous year to NGN945.5 billion in 2022. This is despite the persistent challenging macroeconomic environment and headwinds. Zenith Bank Plc has announced its audited results for the year ending December 31, 2022, achieving an impressive double-digit growth of 24% in gross earnings from NGN765.6 billion reported in the previous year to NGN945.5 billion in 2022. This is despite the…

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Nigeria’s Debt Burden: FG $22bn Loan Request Rejected By Chinese Bank – Says House Of Representatives

By NewsBits The House of Representatives, yesterday, approved the request by the Federal Government to borrow $973,474,971.38 from China Development Bank. This followed the decision by the China-Exim Bank to reject Nigeria’s $22,798,446,773 loan request earlier approved by the National Assembly. The Chairman of the House Committee on Rules and Business, Abubakar Fulata, moved a motion for the legislative chamber to amend its resolution granting approval for the failed loan deal. The motion was titled ‘Rescission of the 2016–2018 Federal Government External Borrowing (Rolling) Plan.’ Moving the motion, Fulata said,…

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Enugu Inter’l Trade Fair Begins, As FG Promises Private Sector Enabling Environment

By Tony Adibe The 34th edition of the Enugu International Trade Fair organized by the Enugu Chamber of Commerce, Industries Mines and Agriculture (ECCIMA), has commenced, with the federal government disclosing that it has initiated policies aimed at promoting Micro, Small and Medium Enterprise (MSME)  in Nigeria. Minister of Industry, Trade and Investment in Nigeria, Adeniyi Adebayo while declaring open the fair at its permanent site in Enugu, assured that the Federal government would continue to create an enabling environment for the private sector to flourish in the country. The…

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Banks Comply With CBN’s Directive To Work Weekends, Customers Throng Premises

By NewsBits Banks in satellite towns of the Federal Capital Territory (FCT), on Saturday opened for business as directed by the Central Bank of Nigeria (CBN). The News Agency of Nigeria (NAN) correspondent who monitored some banks in the Territory, reports that huge crowds of customers were seen at banks’ Automated Teller Machines (ATM) galleries. NAN also reports that customers were also seen standing on queues entering the banking halls one after another. The banks that opened for operations along Nyanya-Mararaba road include First City Monument Bank (FCMB), United Bank…

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INEC Moves Sensitive Materials To Enugu 17 LGAs – Rec Chukwu

By Tony Adibe The Independent National Electoral Commission (INEC) said it has moved all sensitive materials – result sheets and Bi-Modal Voter Accreditation System (BVAS) machines – to its local government area offices within Enugu State. Resident Electoral Commissioner (REC) for Enugu State, Dr Chukwuemeka Chukwu, told newsmen on Thursday in Enugu that the materials had been received at 17 council areas in the state as at 4p.m. He said: “as you can see the political party agents and observers are here since morning and have observed the last consignment…

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CBN Bends To Supreme Court Ruling, Says Old N200, N500 And N1000 Notes Remain Legal Tender

In obedience to the ruling of the Supreme Court, the Central Bank of Nigeria (CBN) on Monday finally declared that the old N200, N500, N1,000 bank notes, which banks in Nigeria have refused to accept remain legal tender till December 31, 2023. The CBN’s Acting Director of Corporate Communications, Isa AbdulMumin stated this in a statement on Monday. Nigerians have waited in pain to hear from the CBN since the ruling of the Supreme Court in the land. The CBN, which has been under severe pressure following the Naira redesign…

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Economy Loses N20trillion To Currency Scarcity – CPPE

The Centre for the Promotion of Private Enterprise (CPPE) said the Nigerian economy has lost about N20 trillion to the persistent cash crisis. The centre said in a statement signed by its director and managing director, Dr. Muda Yusuf that the cash crisis has led to decelerating economic activities, crippling trading activities, stifling of the informal economy, contraction in the agricultural sector and the paralysis of the rural economy. It also stated that there have been also corresponding job losses in hundreds of thousands. In a statement tagged ‘The Trauma…

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Anambra State Governor Says CBN Gov Emefiele Confirmed Banks Were Directed To Accept Recirculate, And Collect Old Naira Notes

Nigerian Deposit Money Bank (DMBs) have been directed by the Central Bank of Nigeria (CBN) to reissue old naira notes to members of the public and also collect the old banknotes from customers. According to a statement issued by the Anambra State governor and former governor the CBN, Prof Charlse Soludo, the regulatory bank Governor, Godwin Emefiele confirmed the latest development to him in a phone conversation. Soludo, who posted the statement on his official Twitter handle on Monday said “The Governor, Dr Godwin Emefiele, personally confirmed the above to…

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