Economy
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BREAKING: CBN reviews tenure of Banks’ Executive management members
The Central Bank of Nigeria (CBN) has revised the regulatory requirements for the tenure of Executive Management and Non-executive Directors of Deposit Money Banks and Financial Holding Companies. This was contained in a circular to all banks signed by the Director, Financial Policy and Regulation Department Chibuzor Efobi on Friday. According to the circular, the revision was part of measures…
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2023 elections: Pantami inaugurates committee for cyberspace and ICT infrastructure protection
Minister of Communications and Digital Economy, Ali Ibrahim Pantami, on Wednesday in Abuja, inaugurated a committee led by the Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, to advise the Federal Government on appropriate measures to take in protecting the nation’s cyberspace and ICT infrastructure from potential attacks especially during the 2023 general elections. The minister, who represented…
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NCP approves Mainstream Energy Solutions for Zungeru hydroelectric power concession
The National Council on Privatization (NCP) has approved the appointment of Mainstream Energy Solutions Limited (MESL) as the preferred bidder for the concession of Zungeru Hydroelectric Power Plant. Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, Laolu Akande in a statement said the NCP held its second meeting of the year recently, chaired…
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Nigeria’s real GDP grew by 3.10% in 2022, says NBS
The National Bureau of Statistics (NBS) on Wednesday said Nigeria’s economy grew by 3.10 per cent in 2022 from the 3.40per cent reported in 2021. The bureau in its Nigerian Gross Domestic Product Report for fourth quarter (Q4) 2022 said GDP grew by 3.52per cent (year-on-year) in real terms, following a growth of 2.25per cent in the third quarter of…
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NCC sets up toll-free line for presidential election coverage
In view of the importance attached to the upcoming Presidential Election, the Nigerian Communications Commission (NCC) has dedicated its Consumer Toll-Free Number 622, to serve as 2023 Presidential Election Incident Hotline to enable voters and members of the public across Nigeria to report any issues that may affect them, or others, during the elections on Saturday, February 25, 2023. The…
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Those responsible for crude oil theft must be held accountable – Osinbajo
Tackling crude oil theft and sabotage remains a major concern of the Federal Government and those in charge must be accountable because, besides economic consequences, institutional and personal reputations are at stake, according to Vice Presiden,t Yemi Osinbajo. Prof. Osinbajo stated this on Tuesday in his remarks as Special Guest of Honour at a ‘Stakeholders Conference on Oil Theft and…
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BREAKING: How last minute meeting between governors, AGF paved way for Naira swap deadline reversal
Ahead of the Supreme Court ruling on the naira swap policy of the Central Bank of Nigeria (CBN), the Federal Government and state governments who took the case to court have reached an out of court settlement, WesternPost has learnt. The settlement sees the old N200, N500 and N1000 notes in circulation till May 1. The Governors of Kogi, Kaduna…
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Measurement inaccuracies, not theft responsible for 40% crude losses, says FG
The Federal Government has said about 40 per cent of the volumes credited to crude oil losses in the petroleum industry are due to measurement inaccuracies and not theft. This was revealed from a forensic audit conducted by the Nigerian Upstream Regulatory Commission (NUPRC) covering the period of January 2020 to November 2022 on crude theft numbers. The Chief Executive,…
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NCC redeploys directors, others
Two directors of the Nigerian Communications Commission (NCC), Dr. Alhassan Haru and Mr. Efosa Idehen have been redeployed to man the Technical Standards and Network Integrity (TSNI), and the Compliance Monitoring and Enforcement (CME) departments of the Commission in a move to further enhance operational efficiency and sustain regulatory excellence. In an exercise approved by the Executive Vice Chairman of…
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Nairaxi emerges winner in NCC’s young innovators competition
A mobile ridesharing mobile app that enables users to request taxi and bus rides tagged, Nairaxi has emerged overall winner at the young innovators’ competition organized by the Nigerian Communications Commission (NCC), which held at the Digital Bridge Institute, Oshodi, Lagos recently. The company, which took the coveted prize with value of N2 million, made up of Kingsley Eze, co-founder/Chief…
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