Day: September 14, 2020

TUC seeks reversal of hike in petrol, electricity tariff***gives 7-day ultimatum

Admin

Trade Union Congress (TUC) has given the Federal Government 7-day ultimatum to reverse the hike in prices of electricity, petrol and all other social services in the country to status quo ante (prior to increase). In a statement signed by Comrade Quadri Olaleye, President of TUC and Comrade (Barr) Musa Lawal Ozigi, Secretary General of TUC, and made available to Borderless News on Monday, the union said the federal government should provide adequate and quality healthcare and education for all (Nigerians) to save the poor and the vulnerable at all…

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Gunmen murder council director in Ekiti

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There was pandemonium on Monday at the Odo Ado Area of Ado-Ekiti, the state capital following the killing of a Director in the Ekiti State Local Government Service Commission, Mr David Jejelowo by some unknown gunmen in the area. According to reports, the incident occurred at the wee hours of Monday at his residence located at Umesi street, Igirigiri Area of Ado-Ekiti metropolis. The Police Public Relations Officer, Ekiti Command, Mr. Sunday Abutu, confirmed the incident. He said the corpse has been evacuated to the morgue of the Ekiti State…

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CACOVID urges halt to COVID-19 community spread

Anya Michael

The organised private sector has said that stopping the community spread of the coronavirus pandemic is the only way to get the nation’s economy back on track and prevent resurgent in the country. The private sector led Coalition Against Covid-19 (CACOVID) said the present situation demanded that all efforts should be geared towards grassroots awareness campaign against community spread across the country if the gains of the past in combating the deadly virus is to be sustained. CACOVID Administrator and Chief Executive Officer of Aliko Dangote Foundation (ADF), Mrs. Zouera…

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UBA Business Series to support SMEs, business owners with brand positioning, marketing strategies

Dorothy Ewah

In its continuous bid to support the growth of Micro Small and Medium Enterprises (MSMEs) and equip them with the necessary tools to strengthen and sustain their businesses, Pan-African financial institution, United Bank for Africa (UBA) Plc, is set to organise another edition of its quarterly UBA Business Series.   The UBA Business Series is an MSME workshop and a capacity building initiative where leading business leaders share insights on best practices for running successful businesses in the face of huge economic challenges. The outbreak of the COVID-19 presented a…

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AMCON takes over Geedee Zulu Investment’s assets over N4bn debt

Anya Michael

The Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Mr. Frank Okwudili Ezuma and Mrs. Lilian Ifeoma Okwudili Ezuma, the chief promoters of Geedee Zulu Investment Limited over a staggering indebtedness of over N4billion. The corporation’s decision followed an order by Justice Muslim Hassan of the Federal High Court, Lagos. According to AMCON, “in compliance to the enforcement order, AMCON on Monday August 31, 2020, commenced the process of effective possession of the properties through its Debt Recovery Agent – Prime Chamber Law Firm. “The takeover,…

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Stanbic IBTC advises customers to reactivate dormant, inactive accounts

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Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has urged customers with dormant and inactive accounts to reactivate them to enjoy fantastic product offerings and exciting benefits. The financial institution recently launched an account reactivation campaign aimed at giving its customers with dormant accounts the opportunity to enjoy the best financial solutions. Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, stated: “This campaign is another demonstration of our unwavering dedication to serving our esteemed customers better. Their convenience is paramount to us, especially during this period when…

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Naira drops to N460/$1 on parallel market

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The naira weakened further on the parallel market, yesterday, dropping to N460/$1 from N455 per dollar that it exchanged for on Friday, traders said. The local currency, which has been under pressure on the parallel market since the beginning of the year, due to foreign exchange scarcity occasioned by the slump in the price of oil rebounded from N477 per dollar to N440/$1 penultimate Tuesday, following an announcement by the apex bank that it would resume the sale of dollars to Bureaux De Change (BDCs) on September 7. The CBN…

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CBN unveils framework for solar connection intervention

Dorothy Ewah

The Central Bank of Nigeria(CBN) has unveiled a framework for the implementation of solar intervention facility, which it said was designed “to complement Federal Government’s effort at providing affordable electricity to rural dwellers through the provision of long term low interest credit facilities to the Nigeria Electrification Project (NEP) pre-qualified home solar value chain players that include manufacturers and assemblers of solar components and off-grid energy retailers in the country.” As part of its Economic Sustainability Plan (ESP), the Federal Government had launched an initiative to achieve the roll out…

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Thailand exporters lose N385.2bn rice market in Nigeria

Stella Okofi

  Thailand exporters have lost 1.2million tonnes of rice valued at N385.2billion ($819.6million) in Nigerian market following import restrictions by the government. The Central Bank of Nigeria (CBN)’s import restriction has boosted local production by 11.2per cent or 600,000 tonnes from 4.8million to 5.4million tonnes in one year. Last month, Thai Rice Exporters Association (TREA), which has also shifted to Benin, Cameroon, South Africa and Angola markets, raised the price of the grain from $678 in August to $683 per tonnes in September, 2020. Data from the United States Department…

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UBA: USA CEO, Yomi-Ajayi, appointed to US EXIM’s sub-Saharan Africa Advisory Committee

Dorothy Ewah

Sola Yomi-Ajayi, the CEO of the United Bank for Africa (UBA)’s operations in the United States, has been appointed to the Export-Import Bank of the United States (US EXIM) Committee on sub-Saharan Africa for 2020/2021. Established by the US Congress, the sub-Saharan Africa Advisory Committee provides guidance and advice regarding US EXIM policies and programmes designed to support the expansion of financing for US manufactured goods and services in sub-Saharan Africa. The committee is composed of prominent members of the US business community and Ms. Yomi-Ajayi is the sole representative…

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