BUSINESS/ECONOMY

Emefiele Takes Oath Of Office To begin Second Term As CBN Governor

  Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele Monday commenced his second term in the position. This followed the confirmation of his re-appointment as Governor by the Senate on May 16, 2019. Emefiele formally assumed duty after subscribing to the relevant Oath of Office administered by the Bank’s Secretary and Director, Corporate Secretariat Department, Mrs. Alice Karau. Emefiele, who was received into the Bank by the four Deputy Governors, was visibly elated by the turnout of excited staff that thronged the venue of the oath-taking ceremony chanting his name. In his remarks after the oath-taking ceremony, the Governor expressed gratitude to God; President Muhammadu Buhari, for nominating [Read]

Settle Your Problem At Home, Don’t bring it to AU, Obasanjo tells Nigeria

A former President of Nigeria, Chief Olusegun Obasanjo, said on Monday that the African Free Continental Trade Area Agreement will not be hindered by Nigeria’s reluctance to sign up to the process. Obasanjo made the remark in Addis Ababa, Ethiopia, during the opening session of the Stakeholders’ Dialogue on Continental Trade and Strengthening the Implementation of the AfCTA . The dialogue was organised by the African Union Commission and the Coalition for Dialogue on Africa . The former President was reacting to concerns raised by one of the discussants at the event , on the need for stakeholders to look into the implications of AfCTA without Nigeria, the continent’s biggest [Read]

Buhari Signs 2019 Budget

President Muhammadu Buhari has signed the N8.91tn 2019 Appropriation Bill into law. Punch reports that Buhari assented to the bill on Monday, in the presence of the Speaker of the House of Representatives, Yakubu Dogara; the Chairman of the Senate Committee on Appropriation, Danjuma Goje; the Minister of Budget and National Planning, Udoma Udo-Udoma; and the Senior Special Assistant to the President on National Assembly Matters, Ita Enang. Udo-Udoma also announced that the federal government will be hosting a pubic presentation of the signed budget on Tuesday, 28th May 2019 by 10:30 am at the Main Auditorium, Federal Ministry of Finance, CBD Abuja. [Read]

Ex-Lagos Deputy Gov To Buhari: Don’t jail looters in your second term, kill them

•Asks President to set up Truth, Restitution and Recovery Commission Alhaja Sinatu Ojikutu is a former deputy-governor of Lagos State. She served in the administration of Sir Michael Otedola. In this interview, Ojikutu speaks on what she believes President Muhammadu should achieve for Nigeria in his second term due to begin on May 29. The inauguration of President Muhammadu Buhari for second term comes up next week. What are your expectations in the fresh term? I congratulate President Buhari on his re-election, and our prayer is that he will succeed in taking Nigeria to the next level as he promised during his campaigns. We also hope that he will be [Read]

We want Nigeria to become one of easiest places to do business, says Osinbajo

Vice President Yemi Osinbajo on Tuesday said that Nigeria does not have the luxury of dealing with one country in the world. Osinbajo, who made the assertion in Lagos at a two-day 2019 USA Fair, said that Nigeria as a developing country was ambitious in building relations with America, Europe, Asia, Middle East and others. Represented by the Minister of Trade and Investment, Dr Okechukwu Enelamah, Osinbajo said that Nigeria would continue to be a partner to different countries. “We want Nigeria to become one of the easiest places for anyone to do business in the world. “Nigeria does not have the luxury of dealing with just one country. We [Read]

BREAKING: EFCC Arraigns Naira Marley in Court On 11-Count Charges [READ MORE & SEE PHOTOS]

Fresh report reaching NEWS FLAKES NG as at PRESS TIME has it that Ace Nigerian musician, Naira Marley has appeared in court on 11- count charges by the Economic and Financial Crimes Commission (EFCC)  Recall that Naira Marley was arrested few weeks back by officials of EFCC over allegations of internet fraud. See more photos of the ongoing court proceedings below as obtained by NEWS FLAKES NG: More Details Shortly!! STAY GLUED TO THIS SPACE!! #Follow & #LikeOurOfficialNewsPage via www.facebook.com/newsflakesng For 247 Fresh global updates and many more hot Gists regularly 😎👌 [Read]

Nigerians should expect petrol price increase, says Rewane

The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, has said fuel subsidies are a huge drain on government’s revenue. Rewane stated this in his presentation at the Lagos Business School Breakfast Session on May 8, a copy of which was obtained by our correspondent on Tuesday . He noted that the World Bank put Nigeria ’s total subsidy bill in 2018 at N 731bn , saying, “A gradual reduction in subsidy payments [ is] anticipated . Only N 305 bn set aside for under-recovery in 2019 budget ; expect an increase in the pump price of fuel . “40 per cent shortfall in provision [Read]

Senate threatens to Shutdown, Sanction Bet9ja [READ MORE]

Senate has on Tuesday, threatened to Shutdown popular betting venture, Bet9Ja offices if the company fails to honour its invitation for a second time.  While speaking on Tuesday, in Abuja, during the verification of Lotto companies with license to operate in Nigeria, Chairman, Senate committee on youth and sport, Senator Obinna Ogba, PDP, Ebonyi, who noted that it was unfortunate that Bet9a refused to honour their invitation, said, “Clerk, write to Bet9ja again. If they did not honour your our invitation again, we will ask the National Lottery Commission to seal their offices.” Senator Ogba who noted that the Senate was making efforts to assist the lottery commission to generate [Read]

Ondo Govt Set To Grow Marijuana For Business, Says Gov Akeredolu

Ondo state governor, Mr. Rotimi Akeredolu has said the state is set to diversify its economy by tapping into the marijuana market. In a tweet on Monday, Akeredolu explained that with an estimated value of $145 billion in 2025, the state would be shortchanging itself if it ignores the marijuana business. “We all know that Ondo State is the hot bed of cannabis cultivation in Nigeria,” he wrote. “We know how to grow it and it thrives well in the Sunshine State. With an estimated value of $145 Billion in 2025, we would be shortchanging ourselves if we failed tap into the Legal Marijuana Market. “Our focus now is Medical [Read]

FG inagurates minimum wage execution committee

The Federal Government on Tuesday inaugurated the committee to negotiate the consequential adjustment in salaries arising from the new National Minimum Wage, with the Head of the Civil Service of the Federation, Winifred Oyo-Ita, as chairman. While inaugurating the committee, Secretary to the Government of the Federation, Boss Mustapha, who is an alternate chairman of the committee, said the committee has four weeks to complete its assignment with the inaugural meeting scheduled to hold on May 20, 2019. Among the members of the committee are the ministers of Labour and Employment, Finance, Health, Budget, and National Planning and Education. Others are the Attorney General of the Federation and Minister of [Read]

Organizers Roll Out Plans for ‘My Grand Event’ Season 3, Set Big Targets [READ MORE]

John Izabi,  ABEOKUTA – The third edition of “My Grand Event” which is an annual exhibition platform birthed out of desire to avail event planners, vendors, and other creative manufacturers the opportunity to interact and build a lasting customers relations, Organizers have revealed.  According to them, the event will majorly feature exhibition of products and services with a view to bringing unique and creative ideas into limelight and creating an atmosphere for creativity to thrive. NEWS FLAKES NG gathers that it is scheduled to come up between July 13 and July 14 later this year, while the elephant exhibition will be staged in some popular markets such as Sagamu, Sango, [Read]

Gov Amosun, Ogun Govt to Obtain $350m World Bank Loan Three Weeks to Hand Over

NEWS FLAKES NG gathers that the Ogun state government has concluded plans to obtain $350m loan from the World Bank. Ibikunle Amosun, governor of the state, disclosed this when he received a delegation of the bank in Abeokuta, the state capital. The loan, according to Amosun, would help create a system-driven environment for business, needed for better welfare of citizens and good governance. He said his administration would do everything possible to secure the loan, saying the incoming administration already had the support needed to enhance good governance. He urged the bank’s team to fast-track the process for its final approval. Kofi Nouve, leader of the delegation, said the loan [Read]

Cross River State Workers Protest Continuous Early Payment of Monthly Salaries by Governor [READ MORE]

CALABAR – Workers in Cross River protested on Wednesday, May 1, over the payment of their May salary on the first day of the month by the state governor, Ben Ayade. NEWS FLAKES NG gathers that the workers expressed reservations that Governor Ayade paid their May salaries in advance just like he had always done since he assumed office. The News Agency of Nigeria (NAN) reports that the state chairman of the Trade Union Congress (TUC), Clarkson Otu, told journalists that the workers and the leadership of labour were unhappy over the early payment of salary. The report quoted the labour leader as saying even though the government means well, [Read]

MAY DAY: Kudos, Knocks As Amosun Orders immediate Payment of Ogun Workers’ Salaries, Deductions

ABEOKUTA – Outgoing Ogun State Governor, Senator Ibikunle Amosun, has promised to pay all outstanding deductions of workers, and other allowances with immediate effect. He said that the total of t 10.8 billion will be released to clear all the payment of the outstanding deductions and other allowances to the civil servants by May 2nd when they’d start receiving credit alerts. The governor disclosed this while delivering his speech at this year’s workers day celebration at the M K O. Abiola Stadium, Kuto, Abeokuta, Ogun State which though witnessed low turn out. He said it is in fulfilment of his promise to clear all outstanding deductions of workers before leaving [Read]

PHOTOS: Commercial Sex Workers, Others Participate in May Day [READ MORE]

John Izabi,  In celebration of this year’s May Day, many workers’ Unions and associations took to stadia across the country to mark the day with the usual rituals of group marching and salute. Shockingly, commercial sex workers also joined in the celebration as they made their way into the stadium with banners displaying their occupation. See more photos below as obtained by NEWS FLAKES NG;   [Read]