Economy Archives - Page 59 of 71

Nov

01

2022

Islamic group tells CBN to put Arabic on all denominations of redesigned Naira

Economy, News, PoliticsCBN, Economy, MURIC, Nigeria, Opinion, Politics, Religion

Muslim Rights Concern (MURIC) has supported the move by the Central Bank of Nigeria (CBN) to redesign the naira. However, the Islamic human rights organization gave the condition that Arabic Ajami must be inscribed on all naira denominations. MURIC stated this in a statement issued on Tuesday by the group’s director, Professor Ishaq Akintola. The statement reads in part: “The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced on October 26 2022, the plan by the CBN to redesign the naira. “MURIC hereby expresses its support for the project with the proviso that all the denominations must…

Oct

29

2022

By Kalu Odinakachi

Naira in another record drop as CBN moves to replace naira notes

Business, EconomyBusiness, Economy, Nigeria

Naira depreciated significantly against the US dollar in both the official and unofficial markets on Friday. This is less than 48 hours after the Central Bank of Nigeria announced the replacement of naira notes. Official market rates published on the websites of FMDQ, where the currency is officially traded, showed the naira closed at N444.75 per dollar on Friday, the lowest rate it has ever traded in the segment. This represents a 0.06 percent devaluation of the previous market value with $61.89 million recorded as foreign exchange turnover within this period. In the unauthorized street market of the Nigerian states,…

Oct

29

2022

By Amos Oge Kalu

MoneyHash to drive digital payment in sub-Saharan Africa

Business, NewsAfrica, America, Business, Economy, Technology

US-based Egyptian fintech company Moneyhash recently expanded its operations into sub-Saharan Africa, in a bid to open up the continent for its payment system, Benjamindada Blog reports. In a conversation with Techcabal, MoneyHash CEO Abdel Razek said that the company wants to enter Sub-Saharan Africa due to the payment opportunities and challenges that exist in the region. In his words: “We stumbled upon it by chance while consulting a company on their payment strategy across the region. We just assumed that someone must have set up a library or something the companies could use as a layer of abstraction.” “The…

Oct

27

2022

By Kalu Odinakachi

Abia Gov’t warns Council Chairmen over plans to contract revenue beyond Dec., 2022.

Abia State, Economy, Metro, PoliticsAbia State, Economy, Metro, Nigeria, Okezie Ikpeazu, Politics

Information reaching the Government of Abia State reveals that some Chairmen of the Local Government Areas have contracted out viable revenue windows beyond December 2022. Government, strongly frowns at such unpatriotic and unlawful act which is capable of crippling the economy of the Local Government in the years ahead and occasion unnecessary litigations on successive administration. Government, directs all Chairmen of LGA's to refrain from engaging revenue collectors beyond 2022, and where such exist, immediate steps should be taken to revoke any revenue agreement exceeding December 2022. Government further warns all LGA Chairmen in the State to desist from such…

Oct

26

2022

By Amos Oge Kalu

2023: Atiku, Tinubu, are ethnic champions, I am right man for the job – ADP’s Y. Y. Sani Insists.

Amos Oge Kalu, Economy, Opinion, Politics2023, ADP, Economy, Next Level, Nigeria, Opinion, Politics, Yabaji Yusuf Sani

The Chairman of Action Democratic Party cum her candidate in the 2023 presidential General election, Engr Yabaji Yusuf Sani, has bared his mind concerning a lot of topical national issues bothering on leadership, the way to move Nigeria toward and untapped potential available to the country to make her compete favorably in the committee of nations of the world contrary to her forlorn state of despondent and dependency on oil occasioned by instituted maladministration and lack of political will to make the nation the true pride of Africa. These assertions were made in over one hour of a detailed interview…