Economy Archives - Page 58 of 95

Aug

05

2023

Kanu bans sit-at-home in the Southeast and introduces EED

Economy, Metro, NewsBiafra, Freedom, Metro, Nnamdi Kanu, Simon Ekpa, Sit-At-Home

By Silas Mmadu and Sampson Ojeh Mazi Nnamdi Kanu, the embattled leader of the pro-Biafra group Indigenous People of Biafra IPoB, has banned all sit-at-home protests in the South-East and proclaimed every Monday in the area as Economic Empowerment Day (EED). Emma Powerful, the IPoB's media and publicity secretary, revealed this in a statement on Saturday. IPoB's statement provided further clarification, stating that "Economic Empowerment Day, or EED, refers to a day designated for mass mobilization of Biafrans to devote their resources and means toward reversing the sharp and unprecedented decline in the economic, educational, and social needs of our…

Jul

28

2023

By Amos Oge Kalu

WEMA Bank Plc introduces its new in-branch self-service product, Phygital.

Business, Economy, SponsoredBusiness, Economy, Wema Bank

Wema Bank Plc, the leading financial institution in innovation and technology has launched Phygital Branch, a self-service platform that combines the best aspects of traditional and digital banking, in all its branches nationwide. YouTube video: “Phygital is the result of Wema Bank’s recognition that a segment of our customers still enjoys the physical experience of traditional banking but without potential hassles such as queues that can diminish the experience.”, announced Mabel Adeteye, Wema Bank’s Head of Brand and Marketing Communications at the launch of the initiative. “Phygital tablets grants our customers the seamless in-branch experience they desire by reducing the…

Jul

28

2023

By Amos Oge Kalu

100,000 firms to be removed from the CAC database – See Why

Business, Economy, MetroBusiness, CAC, Economy, Metro

100,000 registered firms will soon be deleted from the Corporate Affairs Commission's database, according to the organization. The Registrar-General and Chief Executive Officer of CAC, Alhaji Garba Abubakar, announced the commission's intention to remove 100,000 registered firms from its database during a training on "Use of the Beneficial Ownership Register" in Lagos. "CAC steps up enforcement of going off its register of 100,000 companies for failure to file an annual return," Abubakar added. He claimed that the Corporate Affairs Commission was scheduled to revoke the status of 100,000 businesses that had missed their deadline to submit yearly reports over the…

Jul

28

2023

By Amos Oge Kalu

DSS’s request to keep Emefiele in custody longer is denied by the Court

Economy, PoliticsCBN, Court, DSS/EFCC, Economy, Emefiele

A request by the Department of State Services for a "extended detention order" to hold Godwin Emefiele, the suspended governor of the Central Bank of Nigeria, in its custody for an additional 14 days, was denied by the Federal Capital Territory High Court. Emefiele was taken into custody by the secret police on June 10 not long after President Bola Tinubu had suspended him . The DSS brought him before the Federal High Court in Lagos on Tuesday after holding him for more than a month, where he was charged with two counts of illegal guns possession. He was given…

Jul

21

2023

By Amos Oge Kalu

Production of electricity falls by 16% to 3,501MW

Business, Economy, MetroBusiness, Economy, Metro

Nigeria's electricity production fell by 16.4% week-in-week yesterday, from 4,187.6 MW recorded on Thursday last week to 3,501.20 MW.' Our checks revealed that a number of reasons, including the state of the plants and the inadequate gas supply to thermal facilities, contributed to the situation. The situation has compelled the Electricity Distribution Companies, or DISCOs, to implement load shedding in an effort to distribute the scarce electricity among many people at various times. The Nigerian Electricity Regulatory Commission (NERC) recently announced that eleven electricity distribution firms, or DISCOs, had submitted a request for a rate review to the agency. According…