Economy

By News Desk Business mogul Aliko Dangote yesterday highlighted a major impediment to job creation and speedy economic growth in the country. He said the high interest rate can discourage investment and hamper economic growth. Dangote, President of the Dangote Industries Limited, warned that the 26.25% interest rate fixed by the Central Bank of Nigeria…

By News Desk .Plans afoot to invite Ex-SGF for interrogation over $6.23m cash stolen from CBN vaults. Manhunt ongoing for Mustapha’s alleged collaborator, prime suspect in SGF’s office, letter dispatched to Akume for information . Top CBN officials arrested, detained, make damning revelations, write confessional statements. ‘Emefiele endorsed payment of illegal withdrawal of $6.23m from…

The Federal Government, on Sunday, October 1, 2023 met with the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) on measures to address the dispute arising from the removal of subsidy on Premium Motor Spirit (PMS). The parties noted the following: i) The Federal Government has announced N35,000 only as provisional…

By Musa Tanimu Nasidi The Kogi state ministry of Transport have banned the Yunusa Okada Riders Association with immediate effect.In a letter signed by the honourable commissioner of transportation,Hon.Hon. Baran Joseph Okwoli and copy obtained by THEANALYSTNG in Lokoja on Wednesday said the Association was not registered with the appropriate authority. The letter which was…

By News Desk Amid worsening revenue challenges, state governments’ indebtedness to commercial banks has risen to N2.2trn. The latest data from the quarterly statistical bulletin of the Central Bank of Nigeria, obtained by our correspondents, showed that states and LGAs owed banks about N2.21tn as of March 2023. CBN data also revealed the states’ indebtedness…

BY EMEKA EJERE Increasing involvement of staff in incidences of bank fraud is sending a frightening signal of unguaranteed safety of depositors’ money unless drastic steps are taken by both the lenders and industry regulators. It is no longer news that the adoption of electronic payment platforms as a convenient means of payment has increased…

By THEANLYSTNG The Federation Account Allocation Committee, FAAC, has shared N907.054 billion as June revenue to federal, state and local government councils. The amount represented an increment from N714.629 billion shared in May. Director of the Press Office of the Accountant General of the Federation, Bawa Mokwa, disclosed this on Thursday after FAAC’s meeting chaired…

By Victor Ejechi Foreign investors overlooked 28 states as the value of capital importation into Nigeria grew by 6.78 percent in the first quarter of 2023, according to the National Bureau of Statistics (NBS). The total capital imported stood at $1.13 billion, up from the $1.06 billion recorded in Q4 2022. According to the NBS…

By news desk The Olokedagun of Okedagun-Mopa, in mopa/ muro Local Government Area of Kogi State, His Royal Highness, Kabiyesi Alayeluwa, Oba Clarence Olatunde Olafemi has donated the sum of One Million Naira (N1million) only for the effective take-off of the Okedagun Multipurpose Cooperative Society. According to the monarch, the cooperative society is certified ready…

By Our Correspondent President Muhammadu Buhari has given reasons why he appointed Colonel Hameed Ali as the Comptroller-General of the Nigeria Customs Service despite the opposition that trailed the appointment at that time. Ali, a retired Army Colonel and former Military Administrator of Kaduna State under the late Military Head of State, General Sani Abacha…