Yemisi Izuora The Central Bank of Nigeria (CBN) has assured the public that circulation of the newly designed Naira notes will continue to spread as it has continued to take delivery of a good quantity of the banknotes from the Nigeria Security Printing and Minting Company Limited, NSPMC. The Bank said both the new and old notes would continue to be used as directed, while also restating its commitment to supplying the “approved indent” for the smooth running of the economy. The CBN’s Acting Director, Corporate Communications Department, Isa AbdulMumin, also, said in a statement in Abuja, that there…
Author: Orientalnews Staff
Joyce Onwuka The Lead Consulting Strategist and Group Executive Editor of ITREALMS Media group, Mr. Remmy Nweke has been elected to the Board of Trustees (BoT) of the Nigeria Internet Registration Association (NIRA) alongside four others. NIRA, founded on 23 March 2005, oversees Nigeria’s country code top-level domain, .ng, just as registration of domain names are handled by NIRA certified registrars, under its Registry–Registrar–Registrant model in operating and managing the top-level domain. The other four are the former pioneer technical contact person on .NG, Mrs Ibukun Odusote; former Financial Secretary of NIRA, Mr. Biyi Oladipo; former NIRA president, Mrs.…
Yemisi Izuora The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, on Thursday, led a delegation of top officials of the Commission on condolence visits to the families of two prominent Nigerians who recently passed away. The visits were to the families of the late Alhaji Musa Gwadabe, former Minister of Labour, and the Registrar of Bayero University, Jamil Ahmed Salim, who both died recently in Kano. During the visits, Danbatta commiserated with the families of the deceased and prayed for the repose of the souls of the departed. He described the…
Joseph Bakare Senior U.S. Department of State and Department of Defense officials joined Nigeria’s Chief of the Air Staff Air Marshal Isiaka Oladayo Amao, represented by Air Vice Marshal Nnamdi Nwokoma Ananaba and other Nigerian partners to celebrate the completion of $38 million of improvements to the air base April 27. The construction of the air base improvements is key to facilitating the operation and maintenance of the A-29 Super Tucano wing, and associated munitions, stationed here. The base improvements were delivered as part of a larger, historic $500 million U.S. foreign military sale to Nigeria, which also included the delivery of 12 A-29 Super Tucano…
Richard Ginika Izuora Africa’s biggest thermal electricity generation station, Egbin has assured sustainable development and improved services through human capital development. With an installed capacity of 1,320MW, Egbin is easily Africa’s largest privately-run thermal plant. The company said it is training its workforce as it prepares for its Phase II expansion plan. Speaking at during the 2023 Best Performance Dinner to appreciate and encourage employees and teams who demonstrated high level of commitment and outstanding performance one of the Directors of Egbin Power Plc, Kola Adesina, said that the impressive performance of the employees provided the necessary impetus for the growth of the business. “We are proud of our employees, and it is…
By YEMISI IZUORA The Nigerian Liquified Petroleum Gas, LPG market has been experiencing steady increase for over a decade. Between 2007 and 2018, the Nigerian LPG market capacity was reported to have increased from 70,000 MT per annum to 600,000 MT per annum. The growth recorded was made possible through government policies, such as the deregulation of the market, and partnerships with the private sector. The Nigerian Liquefied Petroleum Gas Association (NLPGA) has set a new growth trajectory to increase the annual Nigerian LPG demand from 600,000 MT to 5,000,000 MT by 2029. This growth in demand must be…
Yemisi Izuora Zenith Bank Plc has shocked the financial sector with an exponential growth in its financial performance. The Bank announced its unaudited results for the first quarter ending 31st March 2023, with an exceptional double-digit growth of 41% in Gross Earnings, increasing from ₦191.5 billion in Q1 2022 to ₦270 billion in Q1 2023. The unaudited statement of account submitted to the Nigerian Exchange (NGX) on Friday, 28th April 2023, indicated that the significant double-digit growth in the topline also boosted the bottom line, with the Group experiencing an impressive 27% year-on-year (YoY) increase in Profit Before Tax…
Joseph Bakare President Muhammadu Buhari has approved the postponement of the 2023 Population and Housing Census, earlier scheduled for 3-7 May 2023, to a date to be determined by the incoming Administration. The President gave the approval after meeting with some members of the Federal Executive Council and the Chairman of the National Population Commission and his team at the Presidential Villa in Abuja on Friday (28 April 2023). In arriving at the decision to postpone the Census, the meeting reiterated the critical need for the conduct of a Population and Housing Census, 17 years after the last Census,…
Joseph Bakare The Kano and Kaduna Electricity Distribution Companies, are making frantic efforts towards restoring power to areas affected by electricity severance by the Market Operator, MO, an arm of the Transmission Company of Nigeria, TCN. Sani Baba, Head Corporate Communications, Kano DisCo, admitted that KEDCO was among other DisCos served with a disconnection order where 3 of our feeders were disconnected namely: CBN, Flour Mills and Club by Market Operator due to non-compliance with the provision of market rules. However, he said the DisCo is currently working with Transmission Company of Nigeria (TCN) and other relevant stakeholders to…
Yemisi Izuora Nigeria has been placed eighth out of the ten countries on the Africa Trade Barometer (ATB) after dropping one position (sixth to seventh place) on the Qualitative Trade Barometer (QTB) rankings and gaining two places (10th to eighth position) on Survey Trade Barometer (STB), which was driven mainly by directional improvements in the trader’s financial behavior. Nigeria’s economic growth has largely recovered after the 2020 recession (primarily brought about by the COVID-19 pandemic). The projected economic growth (3.2% in 2022-2024) is average. This is according to Stanbic IBTC Holdings, latest findings from the Africa Trade Barometer Report…