Oil prices settled higher on Tuesday in choppy trading after China posted weak but expectation-beating annual economic growth data. The prices also settled on hopes that a recent shift in its COVID-19 policy will boost fuel demand. Brent crude futures settled up $1.46, or 1.7 per cent to $85.92 while U.S. West Texas Intermediate (WTI) […]
Vice President Yemi Osinbajo says investment in technology is the way of the future as it holds prospects for national development. Osinbajo made the remarks when he received delegation of Odu’a Investment Company at the Presidential Villa, on Tuesday in Abuja. The Group Chairman of the conglomerate, Bimbo Ashiru, led the delegation. The vice president […]
The World Bank (WB) has cut the global growth forecast for 2023 by 1.2 per cent from 2.9 per cent, warning the world is at risk of a recession. The global financial institution cited a combination of factors for lowering its estimate. The factors are high inflation, rising interest rates and lower investment Other factors […]
The Financial Conduct Authority (FCA), a British financial watchdog, has fined a subsidiary of Nigeria’s Guaranty Trust Bank £7.6 million ($9.3 million) over allegations of money laundering. The FCA announced the fine in a statement, reported by Reuters on Tuesday. It stated that it imposed the fine due to failures in GTBank’s anti-money laundering systems […]
The Federal Government has earmarked N3.25 billion for the first phase of three industrial parks being planned across the country. Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), Prof. Mohammad Haruna, announced this when he visited the Commandant of the Nigerian Air Force Institute of Technology (NAFIT) in Kaduna on […]
By Our Correspondent Managing Director of Nigerian Security Printing and Minting PLC (NSPM), Ahmed Halilu, has allayed the fears of some Nigerians on the quality of the new naira notes. Aliyu gave the assurance in a statement, on Friday, but made it available to The NewsZenith on Saturday. The assurance is in response to concerns […]
By Our Correspondent Moddibo Tukur, CEO of the Nigerian Financial Intelligence Unit (NFIU) has banned cash withdrawals for all federal and states accounts, effective March 1. Tukur told newsmen, on Thursday, in Abuja that it was necessary to impose the ban to curb the rate at which monies are withdrawn from public accounts. According […]
The Debt Management Office (DMO) says the alarm created around the country’s projected public debt by a segment of the media was unnecessary. The Director-General, Mrs Patience Oniha, said this in a statement on Thursday in Abuja. Oniha was reacting to reports by a segment of the media that next government would inherit N77 trillion […]
The Federal Operations Unit, Zone A of the Nigeria Customs Service (NCS), on Thursday, said it lost four men to smugglers in 2022 and arrested 176 suspected smugglers. The Acting Controller of the unit, Deputy Comptroller Hussein Ejibunu, announced this at a news conference in Lagos. In the year under review, Ejibunu said the unit […]
By Our Correspondent The Federal Executive Council (FEC) has approved three Public Private Partnership (PPP) Projects for execution by the Nigerian Maritime Administration and Safety Agency (NIMASA). This is contained in a statement signed by Mrs Manji Yarling, Acting Head of Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC). Yarling said the projects are under […]