Business

Iyabo Masha becomes first African director of G-24

Published

2 years ago

March 6, 2023 10:51 am

BodexNG

The Intergovernmental Group of 24 on International Monetary Affairs and Development (G24) has appointed Iyabo Masha, a former member of the Nigerian Presidential Economic Advisory Council (PEAC), as its new director.

The organisation, in a statement issued in Washington DC on Sunday, said the Nigerian was appointed on February 24, 2023.

The G-24 was established in 1971 as a representative grouping of developing countries across Africa, Asia, Latin America, and the Caribbean.

It said Masha is the first African to occupy the position since its establishment, and would succeed the outgoing director, Marilou Uy.

According the body, the Nigerian economy expert also brings a wide range of policy, operational, and research experience at global and national levels to the position.

“Masha was a member of Nigeria’s Presidential Economic Advisory Council from 2019-2022 which directly advises the president on economic policy,” the statement reads.

“In that role, she provided leadership to the council’s work on global economic spillovers, and macroeconomic and sustainable development policies.

“Prior to that, she worked on a range of countries at the International Monetary Fund, Washington DC, negotiating IMF lending programmes and developing non-programme policies for emerging market and low-income economies in Africa and Asia.

“She also served as IMF resident representative for Sierra Leone.

“Masha joined the IMF from the Central Bank of Nigeria (CBN) in 2003, where she led the research department’s annual monetary programme.

“Masha has authored and contributed to several publications, and she speaks regularly to diverse audiences on topical issues.”

Meanwhile, the G24 coordinates the position of developing countries on monetary and development issues, particularly issues on the agendas of the international monetary and financial committee and the development committee.

It also represents the views of the group in relevant international fora.

Ministers of finance and their deputies represent member countries on the board of governors, and the permanent secretariat is in Washington DC.

The executive arm of the board of governors for 2022 to 2023 is chaired by Adama Coulibaly, minister of finance, Côte d’Ivoire.

Business

Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

Published

15 hours ago

November 25, 2024 1:29 pm

BodexNG

The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

Business

Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers

Published

18 hours ago

November 25, 2024 11:01 am

BodexNG

The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.

This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.

The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.

Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

Business

Allegation of missing fund untrue, says Access Bank

Published

19 hours ago

November 25, 2024 9:16 am

BodexNG

Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.

The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.

“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.

“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.

“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.

“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.

“We remain committed to serving our customers.”

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others