Connect with us

NEWS

CBN threatens to suspend accounts

Published

on

The Central Bank of Nigeria (CBN) on Tuesday threatened to suspend the account of any person hiding under the ECOWAS Trade Liberalisation Scheme to sabotage the federal government’s investment in reviving the palm oil sector.

The Governor of the Bank, Mr Godwin Emefiele, made this known during the inauguration of the Edo oil palm programme in Benin.

Emefiele also threatened that accounts of corporate entities including their cronies and supply chain enablers involved in smuggling palm oil and its products into the country would also be suspended, NAN reports.

He said the Nigerian palm oil industry was at a crossroad adding that, the economy continued to be threatened by inadequate local production and continued reliance on imports.

He noted that the CBN under its Oil Palm Development and Expansion Initiative, had so far disbursed over N30 billion to the oil palm sector.

He said the disbursement was being monitored to ensure efficient and effective utilisation and maximum output while oil majors and apex associations are being encouraged to adopt the Out-Grower Scheme.

According to him, faced with this stark reality, the CBN decided to intervene with a view to changing the narrative and to reposition agriculture as the mainstay of the Nigerian economy.

“The journey to revive the oil palm sector began with the discovery that over $500 million of our scarce foreign exchange was being expended on the importation of palm oil to meet identified unmet demand gap of 1.25 million metric tons.

“The country’s total domestic palm oil demand and consumption stood at 2.5 million with local production capacity of 1.25 million metric tons only,” he said.

Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Entertainment

If you can’t afford it, don’t ask him – Toke Makinwa tells ladies

Published

on

Toke Makinwa says women should stop asking men for things they cannot buy for themselves. In a chat with Iyabo Ojo, Toke averred that having the disposition that a man will buy a woman anything is the reason why men do not respect women anymore.

 

Toke during the chat expressed her displeasure at women who are in the habit of asking men for money to buy wigs, bags, shoes and other mundane things.

‘’If you can’t buy it for yourself, don’t ask him. Don’t do it. And they are the reason why men insult women. As a women, when you now have standards, then they look at you as if you are asking for too much. Just because the bare minimum has asked you to buy her a wig”

“As a woman, you’re living in Mushin, and you’re putting pressure on a guy to buy you a house in Banana Island. I’m sorry. Make it make sense. Can you buy it? Can you even move yourself out of where you are small?

“If he meets you maybe like halfway and you are saying to him that ‘Bros, I worked hard to get halfway but I’ve a dream. My dream is not to be here where you met. And I’m not lazy. For me to leave this point to get to that point, you can see the triat of hard work. Are you going to join me to move there or are you going to be there?’ Period.”

Continue Reading

Entertainment

Rema, Yemi Alade, Tayc, Davido… Here Are All The Winners Of The First-Ever Trace Awards

Published

on

Global music powerhouse and Afro-music tastemaker, Trace held its inaugural Trace Awards 2023 on October 21, 2023, at the BK Arena in Kigali, Rwanda, to celebrate the creativity, talent, and influence of African and Afro-inspired music and artists. More than 150 artists were nominated in the awards ceremony, which showcased the excellence and diversity of Afro-centric music in genres such as Afrobeat, Dancehall, Hip Hop, Afro-pop, Mbalax, Amapiano, Zouk, Kizomba, Genge, Coupé Décalé, Bongo Flava, Soukous, Gospel, Rap, Rai, Kompa, R&B, and Rumba.

The awards ceremony, which was hosted by Nigerian music veteran D’Banj alongside Angolan global supermodel Maria Borges, featured a star-studded lineup of performers, including DavidoYemi AladeBlack Sherif, Kizz Daniel and more.

This year’s nominees included stars like Davido, Burna BoyBlxckie, Yemi Alade, Libianca, and DJ Maphorisa, among others. If you weren’t able to tune in, here are the winners of the Trace Awards 2023.

  • Best Music Video – “Baddie” Yemi Alade (Nigeria)
  • Best Artist France & Belgium – Tayc (France)
  • Best Producer – Tam Sir (Ivory Coast)
  • Best Artist North Africa – Dystinct (Morocco)
  • Best Artist UK – Central Cee
  • Best Artist Indian Ocean – Goulam (Comoros)
  • Best Artist Francophone Africa – Didi B (Ivory Coast)
  • Best DJ – Michael Brun (Haiti) 
  • Best Gospel Artist – KS Bloom (Ivory Coast)
  • Best Artist The Caribbean – Rutshelle Guillaume (Haiti) 
  • Best Artist Anglophone Africa – Asake (Nigeria)
  • Best Global African Artist – Rema
  • Best Newcomer – Roseline Layo (Ivory Coast)
  • Best Collaboration – “Unavailable” – Davido (Nigeria) with Musa Keys (South Africa)
  • Best Dancer – Robot Boii (South Africa) 
  • Best Artist Lusophone Africa – Lisandro Cuxi (Cape Verde)
  • Changemaker Trace Award – Mr Eazi (Nigeria)
  • Best Live – Fally Ipupa (DRC)
  • Lifetime Achievement Award – 2Baba (Nigeria)
  • Album of the Year – “Love Damini” – Burna Boy (Nigeria)
  • Best Female Artist – Viviane Chidid (Senegal)
  • Best Male Artist – Davido (Nigeria)

Continue Reading

Entertainment

Davido and Chioma Have Welcomed Twins – Pastor Gospel Agochukwu Confirms

Published

on

According to Evangelist Gospel Agochukwu, Nigerian famous artist Davido has given birth to a pair of twins.

On Tuesday morning, the man of God announced the information.

On the church’s official Facebook page, the cleric posted a recording of his conversation with Davido.

The chat claims that Davido told the cleric the prophecy he made last year had come true.

In November of last year, Agochukwu said that God had promised him Davido and Chioma would welcome twins after Ifeanyi’s passing.

Despite neither Davido nor Chioma having made an official announcement, congratulations have kept coming in on social media.

Continue Reading
Advertisement

Trending

Call Blow Naija