Category: Business

Niger Govt inaugurates State Ease Of Doing Business Council, State Saber Steering/Technical Committee

Emporium Reporters

The Niger State Government said it has attached a high premium to the development of the State’s economy, next to security.   The Secretary to the Niger State Government (SSG), Ahmed Ibrahim Matane made the disclosure shortly after inaugurating the Niger State Ease of Doing Business Environment Council and the Niger State Saber Steering/Technical Committee held at the Conference Hall of SSG’s Office.   The SSG explained that the Niger State Ease of Doing Business Environment Council and the Saber Steering/Technical Committee has been constituted to consolidate the achievement of…

Why I approved redesign of naira notes – Buhari 

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President Muhammadu Buhari on Wednesday in Abuja launched the new Naira bank notes, expressed delight that the redesigned currencies are locally produced by the Nigerian Security Printing and Minting (NSPM) PLC.   Speaking at the launch of the new bank notes, which preceded the Federal Executive Council (FEC) meeting, the President explained in detail the basis for his approval to the Central Bank of Nigeria (CBN) to redesign the ₦‎200, ₦‎500 and ₦‎1000 banknotes. According to the President, ‘‘the new Naira banknotes have been fortified with security features that make…

CAC introduces Electronic filing of Financial Statements

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The Corporate Affairs Commission (CAC) has recorded another milestone as it unveils an electronic filing system for the filing of financial statements by registered entities in continuation of its reform initiatives.   The Registrar General of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar, who stated this at the unveiling of the platform to customers and stakeholders in Abuja, said it would be available live from Monday, November 28, 2022.   A statement released by Head, Media, Rasheed Mahe said Garba Abubakar stated that the accounting software drew inspiration from…

JUST IN: CBN redesigns Naira

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The Central Bank of Nigeria has announced its decision to redesign the Naira.   The CBN Governor, Mr. Godwin Emefiele, who announced this at a press briefing in Abuja, said the exercise would affect the the highest denominations: 200, 500, 1000 notes.   He said that the action was taken in order to take control of the currency in circulation.   According to him, the bulk of the nation’s currency notes were outside bank vaults and that the CBN would not allow the situation to continue.       Details…

JUST IN: CBN sells Polaris bank for N50bn after rescuing it with N1.2trn

Emporium Reporters

The Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) have formally announced the completion of a Share Purchase Agreement (SPA) for the acquisition of 100percent of the equity in Polaris Bank by Strategic Capital Investment Limited (‘SCIL’).   The deal secured the approval of the House of Representatives, who, on Wednesday, October 19, 2022, sanctioned the sale of Polaris Bank and affirmed that the acquisition followed laid down procedures and got the relevant presidential approval.   A statement issued by the Director, Corporate Communications Department…

GREE Air Conditioner unveils new Product Friday, woos New Dealers

Emporium Reporters

Ahead of the official unveiling of its new product on Friday, October 14, 2022, one of the companies listed on the Fortune 500 and a market leader, GREE is wooing new dealers from across Nigeria. This was contained in a statement signed by Jubril Arogundade the Group head of communication made available to journalists on Wednesday, October 12. “GREE is one of the companies listed on the Fortune 500 and a market leader amongst Air conditioner manufacturers in the world, which inspires the world and shapes the future with transformative…

Golden Stardom crowns Dr Augustine Onwueme as Nigeria King of Real Estates

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Chairman PWAN Group,Dr Augustine Onwumere has been honored as Nigeria King Of Real Estates, at the ongoing Economic Movement of Hope for Nigeria.   Some delegates of GOLDEN STARDOM, headed by Noble Eze Oluchukwu,crowned this Distinct Personality as King, for his sustainable impact towards Humanity, as Mr Empowerment. His wealth of experience in Real Estates Business, with Large Network and credible Net-Worth, which affirmed his capacity to graft Nigerians into Billionaires Network through investments in his Brands Products and Projects. He is involved to champion Economic Growth in Real Estates,…

Yahaya Bello’s Govt, Dangote fight dirty over Obajana cement plant in Kogi

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The crisis over the ownership of the Obajan cement plant in Kogi State deepened on Friday, October 7, 2022, as the state government under Governor Yahaya Bello, and Dangote Cement Plc continued to lay claims to the facility.   The management of the firm also vowed to take legal action over the recent invasion of the plant and the shooting of its employees by armed vigilantes allegedly on the orders of the government.   Recall that there was pandemonium on Wednesday, October 5, 2022, when officials of the Kogi State…

CBN and the lost fight against Inflation By Adefolarin A Olamilekan

Emporium Reporters

The global economy is currently uninspiring as it is still under the sieges of inflation. That demonstrates a spike in over 9% globally. With a worsening purchasing power and dampening economic outlook of countries. Although each country is experiencing uncommon inflation pressures. Hence, the fact about the phenomenon of Inflation resides in both positive and negative forms of economic growth. Which perhaps in context of the meaning of Inflation suggested. it is the rate at which the value of a currency is failing and consequential general rise in prices of…

CAC collaborates with NEPC to boost Non-Oil Exports 

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The Corporate Affairs Commission (CAC) has pledged continued support to the Nigerian Export Promotion Council (NEPC) as it strived to improve online services to grow the Non-Oil Exports sector.   The Registrar General/ CEO of the Corporate Affairs Commission, Alhaji Garba Abubakar stated this on Wednesday in Abuja when he received in audience, the Executive Director/ CEO of the NEPC, Dr. Ezra Yakusak.   in a statement released by the Head Media of the commission, Rasheed Mahe ,said Alhaji Garba Abubakar stressed that the Commision had ensured series of collaborations…