Business

How Buhari administration pushed 7 million Nigerians into extreme poverty in 2020 – World Bank

How Buhari administration pushed 7 million Nigerians into extreme poverty in 2020 – World Bank

How Buhari administration pushed 7 million Nigerians into extreme poverty At least 7 million Nigerians were pushed into poverty in 2020, according to the World Bank. In the latest Nigeria Development Update (NDU), titled “Resilience through Reforms”, the World Bank said in 2020, the Nigerian economy experienced a shallower contraction of -1.8% than had been projected at the beginning of the pandemic (-3.2%). “Although the economy started to grow again, prices are increasing rapidly, severely impacting Nigerian households.” “As of April 2021, the inflation rate was the highest in four years. Food prices accounted for over 60% of the total…
Read More
Onion Marketers In Northern Nigeria To Stop Supply Of Spice To The South

Onion Marketers In Northern Nigeria To Stop Supply Of Spice To The South

Ethnic tension grips Nigeria and trade wars have become par for the course. The north of Nigeria has concluded plans to stop supply of onions--a widely consumed seasoning and spice--to the south of Nigeria, as ethnic and religious tension continues to grip Africa's most populous nation. According to Aliyu Isa Umar, National President of Onion Producers, the blockade is a reprisal to the violence being unleashed on northerners and their businesses in the nation's south. The police in Imo, southeast Nigeria, had disclosed that a truck laden with onions was looted and vandalised after hoodlums gunned down APC politician Ahmed…
Read More
Unknown Gunmen: Onion Sellers Suspend Supply To South East

Unknown Gunmen: Onion Sellers Suspend Supply To South East

The Onion Producers and Marketers Association of Nigeria (OPMAN) has said it has concluded plan to halt the supply of Onion to the Southeast following the current unrest ravaging the region. Aliyu Isah, National President of OPMAN made the announcement on Wednesday. According to him, the traders have suffered several attacks by the unknown gunmen in the region, hence the decision to suspend supplies until normalcy returns. He claimed that two trucks loaded with the produce were recently hijacked by gunmen suspected to be members of the proscribed Indigenous People of Biafra, IPOB.  
Read More
BREAKING NEWS: CBN Sacks All Directors Of First Bank Holdings

BREAKING NEWS: CBN Sacks All Directors Of First Bank Holdings

Sola Adeduntan has been reinstated  as the managing director and chief executive officer of First Bank of Nigeria Limited by the Central Bank of Nigeria. CBN Governor,Godwin Emefiele, made the announcement in a press briefing on Thursday. He also announced the immediate removal of all directors of FBN limited and FBN Holdings. The CBN had also faulted the appointment of Abdullahi Ibrahim as deputy managing director, as well as the appointment of Ini Ebong, Segun Alebiosu, Seyi Oyefeso and Bashirat Odunewu, as executive directors. The apex bank, however, directed U.K Eke to remain the group CEO of FBN Holdings Plc.…
Read More
Stop hidden charges, exploitative marketing, Femi Gbajabiamila tells banks

Stop hidden charges, exploitative marketing, Femi Gbajabiamila tells banks

Stop hidden charges, exploitative marketing, Femi Gbajabiamila tells banks “You need to have marketing for people to know what you offer. If there are any abuses or conducts that are not ideal, they should be called out and addressed.” The Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, has expressed concern over the way Deposit Money Banks charge account holders indiscriminately, decrying that apart from known charges, there appeared to be other ‘hidden’ charges that banks imposed on their customers. Gbajabiamila, who noted that the House was concerned that such a practice was making customers helpless, called on…
Read More
CBN Governor reacts to currency printing, says Nigeria in unfortunate situation under Buhari

CBN Governor reacts to currency printing, says Nigeria in unfortunate situation under Buhari

CBN Governor reacts to currency printing, says Nigeria in unfortunate situation under Buhari Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has admitted that the country’s economy is in bad shape under President Muhammadu Buhari’s regime. Against the backdrop of the worsening unemployment, inflation rate and rising debt profile, Mr Emefiele acknowledged that Mr Buhari had a precarious situation on his hand. “Nigeria is unfortunately in a bad situation in the sense that we are facing a problem about productivity output which is GDP. We are also confronted with the problem of inflation,” said Mr Emefiele. On…
Read More
How Ganduje, Dantata, others reconcile Dangote, BUA over sugar plant

How Ganduje, Dantata, others reconcile Dangote, BUA over sugar plant

Ganduje, Dantata, others reconcile Dangote, BUA over sugar plant Governor Abdullahi Ganduje of Kano State and Billionaire businessman, Aminu Dantata have waded into the dispute between Dangote and BUA companies owned by two business moguls from the state. This is in order to resolve the lingering conflict among the two Kano State prominent indigenes Aliko Dangote and Abdussamad Isyaka-Rabi’u over the establishment of a Sugar plant by BUA. A statement by Abba Anwar, the Chief Press Secretary to the governor on Thursday in Kano, said the reconciliation meeting took place on Wednesday in Abuja. He said that Kano Emirate and…
Read More
JUST IN: Properties worth billions of naira razed as fire guts Ochanja Market in Onitsha

JUST IN: Properties worth billions of naira razed as fire guts Ochanja Market in Onitsha

A devastating inferno today wrecked havoc in Ochanja Market in Onitsha, Anambra State, THE WHISPERER has learned. Properties worth millions of Naira were destroyed in the fire incident which occurred at the Menax Field section of the market where foams are sold. According to Newswave, the fire began around 12:00 midnight and continued unabated for hours. The source said the inferno was caused by an electrical fault This is the second fire incident within a month. In the early hours of March 5, 2021 the Plastic Market in Ochanja was razed with properties worth millions destroyed.
Read More
WOW!!! After Her Emergence, WTO DG Okonjo-Iweala Visits Nigeria To Promote Entrepreneurship

WOW!!! After Her Emergence, WTO DG Okonjo-Iweala Visits Nigeria To Promote Entrepreneurship

WTO DG Okonjo-Iweala Visits Nigeria To Promote Entrepreneurship Director General of the World Health Organization, Ngozi Okonjo-Iweala arrived Nigeria on Saturday, in a bid to see how the organization can support home-grown entrepreneurs. This is her first working visit to the country since she began work as WTO DG on March 1. THE WHISPERER learned that she was welcomed by the Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Nasir Sani-Gwarzo. Among other things, she said she stopped by to thank President Muhammadu Buhari who gave the required support that led to her emergence as WTO DG. She further…
Read More
FIRS generates in N4.178trn in 10 months, elites evading tax, says Nami

FIRS generates in N4.178trn in 10 months, elites evading tax, says Nami

The Federal Inland Revenue Service has on Monday said as of the end of October this year, it had generated N4.178 trillion out of the target of N4.23 trillion for the same period. This was disclosed by the Coordinating Director, Tax Operations Group of the FIRS, Mr Femi Oluwaniyi, in Abuja during an interactive session the Executive Chairman of the FIRS had with media houses. According to Oluwaniyi, the amount generated represented 99 percent of the target for the period. He said the target for the whole year was N5.76 trillion. The FIRS spokesman said despite the lockdown occasioned by…
Read More