Category: Business - Page 5 - African News Today

Arabic Inscriptions on Naira Notes Not a Symbol of Islam – CBN

10Nov

By Obiajulu Joel NwoluNo Comments

Judiciary, News, Nigeria

Arabic Inscriptions on Naira Notes Not a Symbol of Islam – CBN

The Central Bank of Nigeria (CBN) has kicked against a suit filed before the federal high court in Lagos asking for the removal of the Ajami (Arabic) inscriptions on the naira notes. According to the defense presented by the bank, it will require a lot of money to discard already printed notes and print new ones without Ajami. CBN equally said the Ajami is an inscription to help non-English speakers who are Ajami literate rather than a symbol or mark of Islam. The bank disclosed this while countering a suit filed by Malcom Omirhobo, a Lagos-based counsel, presided by Mohammed Liman. Omirhobo had in January 2020 filed a suit against the federal government, CBN, and attorney general of the federation over Arabic inscriptions on naira notes. The counsel while opposing the inscription pra...

6Nov

By Chinedu IbeakanmaNo Comments

Breaking News, Communication, Economy, Finance, Nigeria, Trade, United States of America

WTO Postpones Meeting to Pick New DG

The World Trade Organisation on Friday postponed a meeting where members are expected to pick a new Director-General. The postponement is coming days after the United States declined to support the favored candidate, Ngozi Okonjo-Iweala. The organization earlier announced that the meeting would hold next week but a communication sited by AFP showed that the meeting has been postponed indefinitely. “It has come to my attention that for reasons including the health situation and current events, delegations will not be in a position to take a formal decision on 9 November,” the head of the selection committee told member states. “I am therefore postponing this meeting until further notice during which period I will continue to undertake consultations with delegations,” he added....

Opinion: 5 Reasons Why President Trump won’t Support Okonjo-Iweala as Next WTO Director General – Blessing Mene

31Oct

By adminNo Comments

Africa, China, Economy, Features, Finance, Nigeria, Trade, United States of America, Women Empowerment

Opinion: 5 Reasons Why President Trump won’t Support Okonjo-Iweala as Next WTO Director General – Blessing Mene

This is an opinion article by Blessing Mene. People who want Okonjo-Iweala to become the next WTO Director-General mostly are excited about the prospect of the first female & African to lead the WTO. But President Trump doesn't think that way, here are five secret reasons why President Trump won't support Okonjo-Iweala: 1. He thinks from the perspective of Nationalism and his biggest interest is to have a WTO leader who will stand up to China and other countries leveraging loopholes in the WTO to supposedly "take advantage" of America. Look at how Trump is reshaping to the US Supreme Court and Federal Courts. 2. President Trump's a radical conservative who is currently looking to end the influence of liberals and globalism. That's why he got elected in the first place. He doesn'...

WTO DG: Why We Oppose Okonjo-Iweala’s Nomination – US

29Oct

By Obiajulu Joel NwoluNo Comments

News, Nigeria, United States of America

WTO DG: Why We Oppose Okonjo-Iweala’s Nomination – US

The United States has explained its stance not to back Nigeria’s Ngozi Okonjo-Iweala for the World Trade Organisation (WTO) Director General position, noting the position must be held by ‘someone with real, hands-on experience in the field’. The US instead has thrown its weight behind South Korea’s Yoo Myung-Hee to head the WTO. Okonjo-Iweala who is Nigeria’s former Finance Minister is currently in poll position to secure the job after the WTO nominations committee on Wednesday recommended her to its 164 member countries for appointment into the top spot. Explaining its position, office of the US Trade Representative which advises President Donald Trump on trade policy in a statement said Yoo had distinguished herself as a trade expert and has all the necessary skills to be an eff...

Breaking: Nigerian FEC Approves N13.08tn Budget for 2021

30Sep

By Chinedu IbeakanmaNo Comments

Breaking News, Economy, Finance, News, Nigeria

Breaking: Nigerian FEC Approves N13.08tn Budget for 2021

The Nigerian Federal Executive Council (FEC) has projected a N13.08 trillion budget for the 2021 fiscal year. Speaking to State House Correspondents after the weekly virtual FEC meeting presided over by President Muhammadu Buhari, the Minister for Finance, Budget and National Planning, Mrs. Zainab Ahmed, also said the oil benchmark has been pegged at $40 per barrel. The Minister, who was flanked by Minister of State for Budget and National Planning, Clement Agba; the Minister for Information and Culture Alhaji Lai Mohammed and the Director-General of the Budget Office, Mr Ben Akabueze, also said the projected Capital Expenditure for the year is projected at N2.083 trillion. Other components projected to tune the 2021 Budget include oil production at 1.86 million barrels ...

BREAKING: Buhari to Present 2021 Budget Next Week

29Sep

By Chinedu IbeakanmaNo Comments

Economy, Finance, News, Nigeria

BREAKING: Buhari to Present 2021 Budget Next Week

President Muhammadu Buhari will present the 2021 Appropriations Bill to a joint session of the National Assembly next week. Senate President, Ahmad Lawan, made the disclosure in his opening remarks to welcome Senators back from their eight- week annual vacation in Abuja. Details shortly...

Osinbajo Assures Justice for Nigerian Traders in Ghana

18Sep

By Chinedu IbeakanmaNo Comments

Economy, Ghana, News, Nigeria

Osinbajo Assures Justice for Nigerian Traders in Ghana

Vice-President Yemi Osinbajo has stated that Nigerian traders in Ghana affected by the stringent business regulations by the Ghana government will get justice. Osinbajo who stated this yesterday Tuesday 16, September while meeting with representatives of the Nigerian community in Ghana added that bureaucracy is part of the reasons there has been a delay in resolving the issue. He however added that the discussions between the two countries was reaching a fruitful point and soon, all parties will be informed of the resolutions. A statement issued by the Senior Special Assistant to the President on Media and Publicity in the Office of the Vice-President, Mr. Laolu Akande, said the meeting was held at the official residence of the Nigerian High Commissioner in Ghana. The statement...

Nigerian Government Approves Phased reopening of Schools

4Sep

By Obiajulu Joel NwoluNo Comments

Covid-19, Economy, Education, Finance, News, Nigeria, Safety, Transportation

Nigerian Government Approves Phased reopening of Schools

Reviews curfew from 12am to 4am Lifts ban on market, cinema and gym Approves reopening of NYSC orientation camp The Nigerian government has ratified the phased reopening of educational institutions across all states of the federation after schools were closed in March as a measure to control the spread of COVID-19. Government tasked state government and stakeholders in the education sector to commence preparations for the full resumption of schools and also approved the extension of curfew from the initial 10 pm to 4 pm to 12 am to 4 am. The extension of the mandate of the Presidential Task Force on COVID-19 (PTF), was extended from September till December 31. Briefing reporters in Abuja, Dr. Sani Aliyu, National Coordinator of the PFT said, “For educational...

Air Peace Reconsiders, Recalls Sacked Pilots as FG intervenes

12Aug

By Obiajulu Joel NwoluNo Comments

Aviation, Covid-19, Economy, Employment, News, Nigeria, Press Statement, Transportation

Air Peace Reconsiders, Recalls Sacked Pilots as FG intervenes

The management of Air Peace Airlines has reconsidered its earlier decision to sack about 70 pilots following the intervention of the Federal. The recall of some of the sacked pilots was agreed upon after a meeting convened by Sentaor Hadi SIrika, minister of aviation, between the airline’s management and the leadership of the National Association of Airline Pilots and Engineers (NAAPE). James Odaudu, spokesperson of the ministry in a statement said, “In the verbal agreement reached after a dialogue that was held in a very friendly environment, chairman of Air Peace, Chief Allen Onyema acceded to the minister’s appeal for the recall of the maximum number of pilots that the airline can accommodate without going under. “Onyema expressed his sadness and disappointment over what he cal...

Eased Lockdown: PTF Ratifies Gradual Reopening of International Air Flights in Weeks

7Aug

By Obiajulu Joel NwoluNo Comments

Aviation, Covid-19, Economy, News, Nigeria, Safety, Transportation

Eased Lockdown: PTF Ratifies Gradual Reopening of International Air Flights in Weeks

The Boss Mustapha led Presidential Task Force (PTF), on COVID-19 has signed off on gradual reopening of international air flights and train services across Nigeria in weeks, and not months. The News Agency of Nigeria (NAN), reports that this formed part of the concessions agreed upon at the end of the second extension of the second phase of eased lockdown. This was announced by Boss Mustapha, Chairman of the PTF and Secretary to the Government of the Federation (SGF), while addressing the press at the daily briefing of the PTF on Thursday in Abuja. He said, “It’s important to ensure that restrictions are not completely relaxed in order to control transmission. “It is also important that at this Community Transmission Phase of the pandemic sub-national governments step up to tak...