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Apr 22, 2024 | 
nigerianobservernews.com | Olutola Fawehinmi |Naomi Ewansiha |Goodness Oyedun |Nigerian Byzantine politics
First Bank of Nigeria Limited, a subsidiary of FBN Holdings, has announced the appointment of Olusegun Alebiosu as the acting chief executive officer.The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria. Adeduntan, his predecessor, submitted a retirement notice to the bank on Saturday, announcing his resignation effective April 20. The true motive behind his abrupt departure remains undisclosed.
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Apr 22, 2024 | 
nigerianobservernews.com | Naomi Ewansiha |Goodness Oyedun |Nigerian Byzantine politics
The Federal Competition and Consumer Protection Commission (FCCPC) has announced a series of measures to address the growing concerns over the persistent surge in prices of goods and services despite the recent appreciation of the Naira against the US dollar. Acting Chief Executive Officer of FCCPC, Dr. Adamu Abdullahi, emphasised the commission’s commitment to protecting consumers from exploitation in the face of escalating costs.
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Apr 10, 2024 | 
nigerianobservernews.com | Naomi Ewansiha |Goodness Oyedun |Blessing Imagbenikaro |Nigerian Byzantine politics
Ondo State Governor, Lucky Orimisan Ayedatiwa in a proactive move to tackle escalating food prices and ensure food security, has commenced the distribution of maize and other commodities to farmers across the state. The initiative, flagged off on Monday in Akure, aims to support poultry, piggery, and fishery farmers in all 18 local government areas of the state.
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Apr 10, 2024 | 
nigerianobservernews.com | Goodness Oyedun |Blessing Imagbenikaro |Teliat Sule |Nigerian Byzantine politics
…insists import duties collection by Customs must be in nairaThe President of the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Oye Esq., has insisted that the duties collected by the Nigeria Customs Service (NCS) should be charged in Naira rather than in a foreign currency. Oye stated this in his response to the Central Bank of Nigeria (CBN) directive on the use of foreign currency collateral for Naira loans.
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Apr 10, 2024 | 
nigerianobservernews.com | Teliat Sule |Naomi Ewansiha |Goodness Oyedun |Blessing Imagbenikaro
…Africa’s share of foreign profit highestLeading tier-one deposit money banks in the country generated more profit from their foreign operations in 2023, bolstered by the significant profit that came from subsidiaries in other African countries, an analysis of their profit after tax by geographical locations has revealed.
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Apr 10, 2024 | 
nigerianobservernews.com | Happy Osagie |Naomi Ewansiha |Goodness Oyedun |Nigerian Byzantine politics
Air Peace, Nigeria’s leading airline, made a significant stride in the aviation industry with the introduction of a new direct flight route from Lagos to London. The launch of this route brings about a ripple effect in the market, prompting other airlines to adjust their airfares in response to the heightened competition. The impact of Air Peace’s new direct flight on the aviation market is evident in the subsequent adjustments made by other airlines to remain competitive.
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Apr 8, 2024 | 
nigerianobservernews.com | Naomi Ewansiha |Happy Osagie |Goodness Oyedun |Nigerian Byzantine politics
The Governor of Kogi State, Ahmed Usman Ododo, in a bid to ensure food security for the citizens of Kogi State, has announced plans for significant investment in agriculture. The governor made this commitment while hosting leaders of the Muslim community in Kogi State for the breaking of the Ramadan fast at the Government House in Lokoja.
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Apr 8, 2024 | 
nigerianobservernews.com | Goodness Oyedun |Olutola Fawehinmi |Teliat Sule |Nigerian Byzantine politics
In a recent Ministerial Briefing held in Abuja, the Minister of Power, Dr. Adebayo Adelabu, revealed that the Federal Government has invested a staggering N2.9 trillion in electricity subsidy. Despite the increase in tariff for Band A customers, the government continues to subsidize 75% of electricity supply in Nigeria.
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Apr 8, 2024 | 
nigerianobservernews.com | Okoeguale Adolor |Tobore Jerome |Goodness Oyedun |Nigerian Byzantine politics
Nigeria’s leading golfer, Francis Epe, achieved a remarkable feat by shooting an impressive twelve under par 60 to establish a new course record during the inaugural tournament at the Acropolis Gardens and Residence Golf Course in Okija, Anambra State, over the weekend. The event attracted top professional and amateur golfers from across the country, with a total of 86 participants vying for victory on the expansive nine-hole facility spanning 42 hectares.
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Apr 8, 2024 | 
nigerianobservernews.com | Goodness Oyedun |Olutola Fawehinmi |Nigerian Byzantine politics
Following the new tariff order by the Nigerian Electricity Regulatory Commission (NERC), Abuja Electricity Distribution Plc (AEDC) has violated the April 2024 Multi-Year Tariff Order and has been fined a sum of N200 million for non-compliance with the supplementary order. This was made known to the public through a press release on Friday April, 2024. The AEDC failed to comply with the prescribed customer band classifications for the tariff billing.
