Business
Zeenab Foods Powers China-Africa Economic And Trade Expo, Strengthening Global Trade Ties

Zeenab Foods, Operators of the Nigerian Export Trade House in China and Far-East Region, proudly powered the inaugural China-Africa Economic and Trade Expo (CAETE), which commenced yesterday at the Abuja Trade and Convention Centre.
The three-day event, running until November 30, 2024, is a groundbreaking initiative aimed at enhancing trade relations and fostering economic collaboration between Africa and China.
The expo opened with a VIP Exhibition that showcased a wide array of innovative products and services spanning agriculture, manufacturing, technology, and infrastructure. Esteemed guests, including government officials, representatives from the Chinese Embassy, and industry leaders, engaged directly with exhibitors, laying a foundation for productive partnerships and future trade opportunities.
The official opening ceremony, marked by a symbolic ribbon-cutting, brought together prominent stakeholders, including senior Nigerian government officials, Chinese diplomats, corporate executives, and representatives from international financial institutions. The event emphasized the mutual commitment to deepening Nigeria-China trade relations and expanding opportunities for bilateral cooperation.
Speaking at the event, Dr. Victor Ayemere, Managing Director of Zeenab Foods, underscored the critical role of the Export Trade House in China, an initiative led by Zeenab Foods to ensure Nigerian products meet international quality standards. Dr. Ayemere also advocated for expanding the protocol list to include a wider range of commodities, highlighting the potential for Nigerian exporters to diversify and scale their businesses globally.
The event also featured a compelling keynote speech by Yu Xiaohong, Vice Chairman of the China International Contractors Association, who emphasized the importance of industrialization and trade as drivers of economic growth in Africa. Bello Muhammed Goronyo, representing the Federal Ministry of Works, highlighted Nigeria’s significant industrial contributions, noting its role as a major player in Africa’s economy. Additionally, Honorable Minister of Transportation Ahmed Alkali called for efforts to increase the trade volume between Nigeria and China to unlock the full potential of their bilateral partnership.
Zeenab Foods’ leadership in powering this landmark expo reflects its unwavering commitment to advancing Nigeria’s agro-export sector. The company continues to enable local businesses to meet global standards, access international markets, and drive sustainable economic growth. Through its strategic vision and collaborative efforts, Zeenab Foods is positioning Nigeria as a pivotal player in global trade.
The China-Africa Economic and Trade Expo, powered by Zeenab Foods, represents a bold step toward strengthening Nigeria-China relations and empowering exporters to seize opportunities on the global stage.
Business
Labour Union Backs Tinubu’s Economic Reforms

By Abubakar Yunusa
The Association of Labour Veteran and Trade Union Assembly has voiced its support for President Bola Tinubu’s economic reforms, claiming that food prices have significantly decreased across the country.
In a statement issued on Thursday, the union’s interim president, Comrade Isa Tijjani, acknowledged the initial economic hardship faced by Nigerians at the beginning of Tinubu’s administration but insisted that government efforts had led to tangible improvements.
“At the start of this administration, the cost of food soared, and the nation was filled with cries of hunger and complaints. People were urged to be patient as the government worked towards solutions,” Tijjani said.
“Now, the President and his aides have worked tirelessly, and prices have come down drastically. However, I have yet to hear words of appreciation for their efforts. Recognising their achievements will encourage them to do even more for the nation.”
Tijjani, a former national vice-president of the Nigeria Labour Congress, urged Nigerians to differentiate between constructive criticism and unwarranted opposition.
He emphasised that engaging with the government in a respectful and solution-oriented manner would yield better results than resorting to hostility.
“The President of this country today is Alhaji Bola Ahmed Tinubu. Advising him in a humble and respectful manner will be more productive than adopting a confrontational stance. Constructive engagement achieves more than threats and name-calling,” he added.
Tijjani also condemned the recent act of violence in Edo State, describing it as a cowardly attempt to incite division and instability in Nigeria.
He welcomed the swift response of both the President and the Governor of Edo State in addressing the situation and called for the perpetrators to be brought to justice.
The labour leader further urged union members to participate in the upcoming General Executive Council meeting, where the union’s position on national issues will be formalised and disseminated at all levels of governance, from the state to the local and ward levels.
The Tinubu administration has faced criticism over the country’s economic challenges, including inflation and currency depreciation. However, government officials have maintained that their policies will yield long-term benefits for Nigeria’s economy.
Business
Sterling Bank Stops Transfer Fees On Online Transactions

Sterling Bank has announced the removal of transfer fees on all local online transactions.
The move was confirmed by the bank on Tuesday in a press release.
The development makes it the first major Nigerian bank to eliminate the contentious charges for digital banking.
The statement noted that the bank reaffirmed its commitment to customer-centric banking, declaring that the zero-transfer-fee policy is real and effective immediately.
The initiative is expected to bring significant relief to individuals and small business owners who conduct frequent transactions.
The bank’s Growth Executive in charge of Consumer and Business Banking, Obinna Ukachukwu, described the decision as a values-driven approach aimed at ensuring fair and inclusive banking.
“We believe access to your own money shouldn’t come with a penalty.
“This is more than a financial decision—it’s about redefining banking to put customers first,” he stated.
Under the new policy, Sterling customers will not be charged for local transfers conducted via the bank’s mobile app.
Ukachukwu emphasised that the bank’s decision is about more than just competitive strategy.
He said, “We’re not yet the biggest bank in Nigeria, but we’ve been the boldest.
Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words.
Business
CBN Debunks Introducing N5,000, N10,000 Banknotes

The Central Bank of Nigeria dismissed a report claiming it had introduced N5,000 and N10,000 banknotes to facilitate cash transactions as false.
In a statement posted on its official X handle on Wednesday, the apex bank described the report as fake and urged Nigerians to disregard it.
“The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” the statement read.
A statement from the CBN’s communications department further clarified, “The only official sources for releasing statements to the media are our website or statements from our department. There is also no Deputy Governor by such name. We are investigating the source of this fake content.”
The report quoted one Deputy CBN Governor, Ibrahim Tahir Jr., the move is aimed at reducing cash-handling costs and providing Nigerians with more efficient means of conducting large transactions.
“The introduction of these new high-value denominations aligns with global best practices and will enhance economic activities while reducing the stress associated with carrying large amounts of cash,” the Governor stated. The CBN said there is no such name in its leadership.
“The new N5,000 note will feature the portrait of Chief Obafemi Awolowo, while the N10,000 note will showcase Dr. Nnamdi Azikiwe, both in recognition of their contributions to Nigeria’s development.
“Additionally, the new notes will incorporate enhanced security features, including color-changing ink, holograms, and anti-counterfeiting technology, making them impossible to replicate,” the fake report stated.
The fake report also said the nationwide rollout would begin on May 1, 2025, with commercial banks instructed to start issuing the new notes via ATMs and over-the-counter transactions.