Yemisi Izuora The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has called for more engaging conversations on how women can leverage technology and innovation to bridge the digital gender gap. Emefiele, in his keynote address at the CBN International Women’s Day, IWD webinar to commemorate the celebration on March 23, 2023, noted that digital financial services had become a critical dependency in the economy, providing vast opportunities to bridge the digital gender gap, drive financial inclusion and increase employment and economic opportunities for women. He reiterated the CBN’s commitment to promoting gender equality…
Author: Orientalnews Staff
Yemisi Izuora Wema Bank Plc, has championed financial literacy for the next generation by participating in the Global Money Week to commemorate the Financial Literacy Day on March 23, 2023. In alignment with the theme “Plan your Money, plant your Future”, Wema Bank organized financial literacy sessions for secondary school students across all states where the Bank is represented. This is to instill an early understanding of the significance of building a solid financial foundation and achieving financial stability and success from a young age. The Deputy Managing Director of Wema Bank, Mr. Wole Akinleye, led the Financial Literacy…
Yemisi Izuora The Federal Executive Council (FEC) has approved the sum of N510,934,600 for the procurement of customised Fire Service search and rescue vehicles for for the Nigerian Ports Authority (NPA). The Minister of Transportation, Mu’azu Jaji Sambo, disclosed this after this week’s Federal Executive Council meeting in Abuja. The NPA had sought to provide for the award of a contract for the construction and supply of customised Fire Service search and rescue vans for extrication of accident victims for Rivers ports in Port Harcourt, Lagos Port Complex, Tincan Island Port and the Marina headquarters, all in…
Yemisi Izuora After decades of operating a closed and monopolistic downstream oil industry, the Federal Government has released six gazetted regulations that will create fresh investment opportunities in the midstream and downstream sectors of the petroleum industry. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), released the guideline on Wednesday in Abuja, which included the Midstream and Downstream Petroleum Operations Regulations and Assignment or Transfer of License and Permit Regulations. Others are the Petroleum Measurement Regulations; Gas Pricing and Domestic Demand Regulations; Petroleum (Transportation and Shipment) Regulations; and Natural Gas Pipeline Tariff Regulations. Speaking at the unveiling, NMDPRA…
Yemisi Izuora Signs are rife that the Organization of Petroleum Exporting Countries, OPEC+ would most likely stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year. This is even after a banking crisis sent crude prices plunging, three delegates from the producer group told Reuters. Oil prices hit 15-month lows on Monday in response to the banking crisis that followed the collapse of two U.S. lenders and resulted in Credit Suisse being rescued by Switzerland’s biggest bank UBS UBSG.S. Brent crude was trading around $75 a barrel on Wednesday morning. Last…
Yemisi Izuora The Central Bank of Nigeria’s CBN, intervention in the electricity sector has led to the release of N3.01 billion under the Nigerian Electricity Market Stabilisation Facility (NEMSF-2) for capital and operational expenditure of Electricity Distribution Companies, (DisCos). Governor of the Bank, Godwin Emefiele, who made the disclosure in Abuja, explained that the facility was aimed at improving liquidity status of the DisCos and aiding their recovery of legacy debt. “This brings the cumulative disbursement under the facility to N254.39 billion,” he added The Central Bank of Nigeria (CBN) has disbursed a total sum of N18.26 Billion to…
Richard Ginika Izuora The intergovernmental forum International Carbon Action Partnership (ICAP), in a report released on Wednesday, disclosed that Emissions Trading Systems (ETS) raised a record $63 billion for governments last year, as the energy crisis pushed policymakers to double down on decarbonization efforts. ETSs generally set the total amount of greenhouse gases that can be emitted by operators or sectors. The cap is gradually reduced so that total emissions drop. In jurisdictions with ETSs, operators buy or receive emission allowances, which can be traded as needed. “ETSs are generating record level of revenues that can be used to…
Joseph Bakare President Muhammadu Buhari has sent a letter to the Senate seeking confirmation of new nominees for the board of the Nigeria Deposit Insurance Corporation (NDIC). The request was contained in a letter dated March 15, 2023, and read at the start of the plenary on Tuesday by the Senate President, Ahmad Lawan. The letter reads, “Pursuant to section 5 (4) of the Nigeria Deposit Insurance Corporation Act, I forward herewith for the confirmation of the Senate, the under-listed names of the newly appointed members of the Governing Board of the Nigeria Deposit Insurance Corporation. The letter added,…
Roland Iwuchukwu The Comptroller of Immigration Service Rivers State Command James Sunday, PCC has announced a clean up operation coded “Operation Shigan Bultu” . The Comptroller announced this after his tour of units under the Command and appraised officers commitment to duty in Rivers. The operation is an under cover exercise to checkmate excesses and lukewarmness at work. The Comptroller a former service public relations officer said it will be counter productive and unethical for any personnel to negate service standard and fall short of expectation, warning deviants to take dressing as it is a privilege to be in…
Ken Okeke ThenPresident-General of the Nigerian Supreme Council of Islamic Affairs (NSCIA) and Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar, has confirmed sighting of new moon. This thus marks the commencement of Ramadan fasting 1444AH. The Sultan, in a message of the official Twitter handle of NSCIA, said Ramadan 1444 AH fasting commences on Thursday. “Having sighted the moon today Wednesday 22, 2023, I hereby declare that tomorrow Thursday 24, March, 2023 is the first day of Ramadan 1444. I therefore urged all Muslims to commence fasting accordingly.” he said. The Sultan had earlier enjoined all…
