The second Niger Bridge has reached 95% completion and would be deployed into use soon by the first quarter of 2024. The Ag. Controller of Works in Anambra state who is also the Engineers’ representative on the project, Mr. Seyi Martins, stated this when he received members of the Council for Regulation of Engineering in Nigeria (COREN) at the site. Engineer Martins disclosed that the first phase of the project which is bridge proper has been almost completed leaving only the asphalt phase of the carriageway which will be completed soon.
Presidency says no state government is authorized to carry automatic rifles following a threat by the Ondo state Governor, Rotimi Akeredolu to procure AK47 automatic rifle for his state Amotekun vigilante forces. The Senior Special Assistance to the President on Media and Publicity, Mallam Garba Shehu issued the statement on behalf of President Buhari, saying, the message is very clear from the president that nobody is allowed to carry an automatic rifle apart of the military and paramilitary law enforcement.
The Central Bank of Nigeria, CBN, Monetary Policy Committee, MPC, in an attempt to arrest the plague of inflation has jacked up the interest rate from former14% to 15.5% in the country. Expert says the value represents a 150-basis point increase from the former 14 percent rate endorsed during the last monetary Policy Committee, MPC, meeting held in July 2022. At the end of the meeting today, the CBN Governor, Godwin Emifele informed newsmen that ten members have voted in favor of the rate hike and that necessitated the move.
Nigerian inflation overtook the 20% benchmark in August, fuelling speculations that the apex bank will be left with no option but to raise the bar.
In a bid to revive Nigeria’s leather industry, the Federal Government (FG) has announced its plan to ban the consumption of animal skin, locally known as ponmo in the country. This was disclosed by Muhammad Yakubu, the Director-General (DG) of the Nigerian Institute of Leather and Science Technology (NILEST), who stated that ponmo consumption had no nutritional value, adding that it should be stopped in order to revive the industry and boost the country’s economy.
The Nigerian Civil Aviation Authority (NCAA) has renewed the air transport licence (ATL) of Azman Air to enable the airline to resume operations. This development is coming hours after the NCAA suspended the airline for failing to provide the required documents for its ATL renewal. According to NCAA, Azman’s licence has been renewed fulfiling all outstanding requirements.
Fresh fuel scarcity is looming in northern states of Nigeria including Abuja, Kaduna, Nasarawa, Kogi, Niger, and neighbouring states as independent marketers, Yesterday, announced a three-day warning strike over non-payment of outstanding fuel transportation costs, otherwise referred to as bridging claims. The Chairman of IPMAN, Suleja Depot Branch of the Independent Petroleum Marketers Association of Nigeria, Yahaya Alhassan said marketers had stopped the supply of Premium Motor Spirit (PMS) from the depot, as the union had prevented trucks from moving product to the northern states. According to Alhassan said marketers were withdrawing their services until the Federal Government settled their outstanding bridging claims of N50.5bn. “The Petroleum Equalisation Fund has not paid our money. We have N50.5bn (to be paid by PEF) and because of that we are withdrawing our services,” he said.
Nigeria’s national carrier, Nigeria Air has announced its 2022 recruitment for various positions such as captains, and crew members in the organization. This was made known in a statement issued by the airline which stated that it is currently recruiting qualified crew for the following positions; Experienced and current B737 Captains, First Officers, Senior Cabin Crew, Cabin Crew, and Engineers (B1/B2 preferred).
First Bank of Nigeria has announced to its customers that it will suspend international transactions on its Naira Debit Cards from September 30, 2022. First Bank said, “Due to current market realities on foreign exchange, you will no longer be able to use the Naira Mastercard, Naira Credit Card, our Virtual card, and Visa Prepaid Naira for international transactions. This will take effect on 30 September 2022.
The Nigerian Government said it is considering an upward review of the N30,000 minimum wage to reflect the economic realities of inflation that has become a global phenomenon. This was disclosed by the Minister of Labor and Employment, Dr. Chris Ngige during the Nigeria Labor Congress, NLC, a public presentation titled, ''Contemporary history of working-class struggle'' delivered yesterday in Abuja.
Dangote Industries and MTN Nigeria have been named among 2022 Top 50 Brands Nigeria following the results of the 2022 corporate brand evaluation conducted by a brand and marketing research firm known as Top 50 Brands Nigeria. The organizers also stated that Dangote Industries emerged as the Most Valuable Brand in Nigeria for the fifth year, with an aggregate score of 83.7 Brand Strength Measurement (BSM) index score.
President Muhammadu Buhari swore in Mohammed Bello Shehu as the new Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC). Bello was administered the oath of office on Wednesday at the State House, Abuja just before the commencement of the weekly Federal Executive Council (FEC) meeting which was presided over by President Muhammadu Buhari.
The fintech subsidiary of MTN Nigeria, Momo Payment Service Bank Limited (MomoPSB) has filed a suit in the Federal High Court seeking to compel 18 commercial banks to refund about N22.3billion that was mistakenly transferred in 700,000 transactions into accounts belonging to about 8,000 bank customers on May 24, 2022.