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Gunmen attack bank, steal millions in Imo

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Armed robbers on Friday invaded a branch of First Bank Plc located at Amaraku Main Market in Isiala Mbano Local Government Area, Imo state, stealing millions of naira. The attack, which was said to have started at about 2:30 pm, lasted one hour and 30 minutes. An eyewitness told our correspondent that over eight gunmen, who were said to have ...

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CBN commits N23b to Anchor Borrowers’ Programme

CBN-Governor

The Central Bank of Nigeria (CBN) has invested N23 billion to the Anchor Borrowers’ Programme (ABP), the CBN Governor, Godwin Emefiele, has said. Speaking  Friday at the ongoing eighth Bankers’ Committee Meeting in Lagos, he explained that the ABP, launched in 2015, was an innovative way of improving access to finance for farmers and manufacturers. Together with other initiatives like ...

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Naira stabilises at N485 per dollar at parallel market

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The Naira on Friday remained stable at the parallel market, exchanging at N485 to a dollar. The Pound Sterling and the Euro closed at N602 and N515, respectively. At the interbank market, the Naira also remained stable at N305.50 to a dollar. Trading at the Bureau De Change window saw the Naira sold at N399 to a dollar, CBN controlled ...

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FG bans vehicles importation through land borders

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The Federal Government took importers of vehicles by surprise Monday when it banned the importation of vehicles through the land borders with effect from January 1, 2017. However, the announcement has since elicited reactions from Nigerians. While some condemned the policy, others hailed the move. However, stakeholders in the maritime industry yesterday  hailed the ban, but they pleaded with the ...

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MMM is demonic, says Apostle Suleman

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Founder of the Omega Fire Ministry, Apostle Johnson Suleman has described popular Russian ponzi scheme, MMM as demonic. Suleman denounced the scheme which has attracted heated debates on the Nigerian social media scene in one of his sermons recently. Excerpts of the sermon which was published on Instagram by @Kintoncod showed the clergy man dressed in white suit, telling his ...

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Mbanefo MMM owner unmasked

Mbanefo

A Nigerian, who styled himself as Pastor Ernest Chigozie Mbanefo is the mastermind of the suspected Ponzi scheme known as MMM Nigeria. According to an online report, Mbanefo is based in South Africa. Nigerian Communications Week said Mbanefo registered the site MMM-Nigeria.net domain on June 7, 2016 about at about 5 pm Nigerian time. NAN quoting NCW And Pageone report ...

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Reps want fuel sold at N70 per litre

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The House of Representatives on Tuesday faulted the current pricing template for Premium Motor Spirit, better known as petrol, saying that a realistic pump price should not be above N70.04 per litre. It, therefore, asked the Petroleum Products Pricing Regulatory Agency and Ministry of Petroleum Resources to review the current price template of PMS with a view to bringing down ...

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Why economy is in coma –Bloomberg

President Muhammadu Buhari

President Muhammadu Buhari’s economic policy received hard knocks from Bloomberg, the influential United States of America-based financial software, data and media company. Bloomberg said, Monday, that  Buhari’s rigid leadership style is making Nigeria’s economic problems harder for his government to solve. In an editorial, titled: Nigeria’s economic policy needs visionary leadership, , Bloomberg gave more hard knocks for the All Prograssive ...

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PenCom and First Guarantee Pension: The Fallacies, the Facts

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By Rabiu Usman The National Pension Commission, PenCom, recently announced to the joy of workers and managers of the economy, that the nation’s pension assets hit N5.9 trillion as at September 2016.  That was from about N2 trillion deficit in 2004.  However, this steady rise in pension assets could not have been possible without sound and strict industry regulation by ...

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ENUGU FTZ: Ugwuanyi urges Buhari to rehabilitate South East infrastructure

Enugu FTZ

… As Enpower Free Trade Zone’s groundbreaking holds  Governor Ifeanyi Ugwuanyi of Enugu State Thursday called on President Muhammadu Buhari to rehabilitate critical infrastructure in the South-East region to boost activities in the new Enugu Enpower Free Trade Zone (Enpower FTZ). Ugwuanyi who made this appeal at the groundbreaking ceremony of the Enpower FTZ at Akanu Ibiam International Airport, Enugu, ...

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