Innoson vehicle to establish new manufacturing plant in Owerri
Indigenous automobile manufacturer, Innoson Vehicle Manufacturing (IVM) Company, has as part of its expansion drive. And announced plans to establish another manufacturing plant in Owerri, Imo State. The current expansion effort by the Innoson Group is to actualize its mission to become a giant in vehicle manufacturing in Africa by
Aliko Dangote, gains $915 million in Q1, now worth $20 billion
Aliko Dangote, the richest man in Africa, posted decent gains in Q1 despite increased geopolitical uncertainty and high inflation. Bloomberg Billionaires Index data shows that the wealthiest black man in the world now has an estimated net worth of $20 billion and posted gains of about $915 million in the
Man loses his entire ‘$500,000’ savings in cryptocurrency
A man has narrated how he lost his entire life savings after investing all of the money with a cryptocurrency trader who died in 2018. Tong Zuo recalled when he invested his money into Quadriga CX, and trusted the company’s CEO and founder, Gerald William Cotten with the funds since
FEC approves N16.39trn 2022 budget proposal
The Federal Executive Council (FEC) on Wednesday, approved the 2022 Appropriation Bill for an aggregate expenditure of N16.39 trillion for presentation to the National Assembly by President Muhammadu Buhari on Thursday. Dr Zainab Ahmed, the Minister of Finance, Budget and National Planning, made this known on Wednesday when she briefed
Invest in air cargo for revenue generation, insurer tells FG
Mr Babajide Olatunde-Agbeja, Chairman, Boff and Company Insurance Brokers, on Wednesday, in Lagos, described air cargo as Nigeria’s new golden income, capable of generating huge revenues for the government if adequately developed. “Air cargo is our new golden income in Nigeria, the earlier we realise it and implement a smooth
Gombe Govt. earmarks N17bn for ultramodern industrial park – Gov. Yahaya
Gombe state government has earmarked N17 billion for the construction of the Gombe Ultramodern Industrial Park, to promote medium and small scale enterprises in the state. The State Governor, Alhaji Inuwa Yahaya, revealed this after a closed door engagement with the Chief of Staff to the President, Prof. Ibrahim Gambari,
We’re committed to completing ongoing projects – NSC boss
The Executive Secretary, Nigerian Shippers’ Council (NSC), Mr Emmanuel Jime, said the present management would ensure the completion of projects started by his predecessor, Hassan Bello. He listed the projects as the Inland Dry Ports (IDPs), Vehicle Areas,(VTAs) Border Information Centres (BICs) and others. Jime said this in a statement
Zenith Bank GMD canvasses increased Impact Investing in Africa
Mr Ebenezer Onyeagwu, Group Managing Director/Chief Executive Officer, Zenith Bank Plc, has called for increased impact investing in Africa, to enable the continent achieve its full potentials. A statement by the bank issued to newsmen on Sunday, in Lagos, said Onyeagwu made the call in a keynote address at the
Naira slumps to 523 against dollar at parallel market
The naira slumped further to 523/$ at the parallel market on Wednesday, a day after the Central Bank of Nigeria stopped the allocation of foreign exchange to Bureau de Change operators in the country. The naira, which exchanged to the dollar at 503 on Monday, fell to 505 on Tuesday,
Bureaux de Change operators keep mum on CBN’s clampdown
Alhaji Aminu Gwadabe, the President of the Association of Bureaux de Change Operators of Nigeria (ABCON), has refused to comment on the action of the Central Bank of Nigeria (CBN) against his members. Politics Nigeria had reported that CBN blew hot, stopping the licensing of BDC operators in the country.