Business Archives - Page 41 of 46

Dec

09

2022

DSS gives dealers 48 hours to stop Fuel scarcity or face FG’s wrath

Business, Economy, Metro, News, OpinionBusiness, DSS/EFCC, Economy, Fuel Scarcity, Metro, Next Level, Nigeria, Opinion

Angered by the lingering petrol scarcity in the country, the Department of State Services (DSS) has ordered all the entities in Nigeria involved in the distribution process to make petrol available to Nigerians at the official rate or face the wrath of the government. This was the decision arrived at between the security agency and all the stakeholders in the petrol supply chain at the end of a strategic meeting at the DSS headquarters in Abuja on Thursday. The Spokesman for the DSS, Dr.Peter Afunanya, told journalists at the end of the meeting that the agency would take steps to…

Dec

07

2022

By Amos Oge Kalu

Experts say Cash withdrawals, ATMs limits heavy blow on looters, kidnappers, others

Business, Economy, Metro, Opinion, PoliticsBoko Haram, Crime, Economy, Metro, Nigeria, Opinion, Politics, Security

Economic experts have said that the Central of Nigeria, CBN, revised policy on cash withdrawals is a heavy blow to looters of government funds, kidnappers, and fraudsters. A breakdown of CBN’s revised guidelines on the practical implementation of the naira redesign policy stated that starting from 9th January 2022, Automated Teller Machines, ATM/ Point of Sales, and POS withdrawals would be limited to N20,000 Per Day. The notification also disclosed that Automated Teller Machines, ATM, will dispense N200 and downward denominations, and defaulters of maximum deposit limit will have to pay 5 percent and 10 percent, respectively, as charges. It…

Dec

07

2022

By Amos Oge Kalu

133 million poverty index: Twists, turns as FG, States trade blame

Business, Economy, Lifestyle, Metro, News, Opinion, PoliticsBusiness, Economy, Lifestyle, Metro, Next Level, Nigeria, Opinion, Politics, Security

The recent report by the Nigeria Bureau of Statistics (NBS) that about 133 million Nigerians live in poverty is generating serious controversy, with the Federal and State governors now trading words. Recall that in the early month of November, NBS disclosed that 133 million Nigerians were multi-dimensionally poor, saying that the figure represents 63 percent of the country’s population. The report blamed the country’s rising poverty on poor access to education, living standards, health, employment, and security. It further indicated that 65% of the country’s poor people (86 million) live in the North, whereas 35% (nearly 47 million) live in…

Dec

04

2022

By Amos Oge Kalu

Navy accuses NNPC of exaggerating figures, not being sincere about oil theft

Business, Economy, Metro, News, OpinionCrime, Economy, Metro, Nigeria, NNPP, Opinion, Security

The Nigerian Navy has accused the Nigerian National Petroleum Corporation Limited of not revealing the actual cause(s) of crude oil theft in the country, but reeling out exaggerated figures to save its face. This disclosure was made to the Senate Committee on Economic and Financial Crimes by the Navy Chief of Training and Operations, Rear Admiral Solomon Agada, during an interactive briefing of the relevant agencies implementing the Proceeds of Crime (Recovery and Management) Act, 2022 at the National Assembly. Our correspondent exclusively observed the proceedings. Agada revealed that at several interactions with the NNPC, the Navy had explained the…

Dec

03

2022

By Amos Oge Kalu

Osinbajo inaugurates Omeife, Africa’s first humanoid

Business, Economy, Lifestyle, NewsArtificial Intelligence, Economy, Lifestyle, Nigeria, Omeife

Vice-President Yemi Osinbajo, on Friday in Abuja, inaugurated Omeife, Africa’s first humanoid to boost Artificial Intelligence (AI) and technological development in Nigeria and the continent. Osinbajo was represented by the Minister of Communications and Digital Economy, Prof. Isa Pantami, who in turn was represented by the Director-General, of the National Information Technology Development Agency (NITDA) Kashifu Inuwa. The News Agency of Nigeria (NAN) reports that Omeife, the first African humanoid robot was developed by the Uniccon Group. Omrife is with near-human resemblance, language competency, movement, navigation, and behavioral intelligence using AI and computer vision capabilities. “We are living in an…