Business Local EFCC Recovers Unremitted N4.16b From Lottery Firms September 25, 2020 Ekemini The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mohammed Abba, said yesterday the commission recovered over N4.16 billion unremitted revenue from lottery companies. He said this while…
Local 174,574 Apply For COVID-19 N75bn MSME Survival Fund September 25, 2020 Ekemini Within 48 hours a total of 174,574 persons successfully registered for the N75bn National MSME Survival Fund and the Guaranteed Off-take Stimulus schemes under the Nigeria Economic Sustainability Plan, the…
Business Govt Committed To Elimination Of Gas Flaring By 2021 – Sylva September 25, 2020 Ekemini Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Federal Government is committed to ensuring the elimination of gas flaring from Nigeria’s oil and gas fields by 2021.…
Business Dollar Off Two-Month Peak But On Course For Best Week In Six Months September 25, 2020 Ekemini The U.S. dollar dipped from a two-month peak on Friday as renewed hopes of fresh U.S. stimulus eased investors’ concerns about its economic recovery, while the Chinese yuan gained after…
Business NEPC: Nigeria Can Earn Forex From Mushroom September 25, 2020 Ekemini The Nigerian Export Promotion Council (NEPC) yesterday said the country could significantly improve on its foreign exchange (forex) through investment in mushroom production. Its Executive Director, Mr Olusegun Awolowo, who…
Business Accelerating Bitcoin Trading In Nigeria September 25, 2020 Ekemini One of the more remarkable instruments of freedom and prosperity that has emerged over the last two decades is the internet. It has shrunk our planet by connecting humans across…
Business FX Crunch: Anger, Frustration As Banks Ration Dollar Among Customers September 25, 2020 Ekemini Nigerian banks are now rationing forex withdrawals by customers, TheCable can report. The economy has suffered a double blow from the COVID-19 pandemic and low oil prices, leading to little…
Business Local CBN Pulls Rate Cut Trigger, King Dollar Returns September 25, 2020 Ekemini In a move that caught investors off-guard this week, the Central Bank of Nigeria (CBN) slashed interest rates by 100 basis points bringing the MPR to 11.5%. Given how inflation…
Business Cheap Nigerian Stocks Outperform African Peers September 24, 2020 Ekemini Nigerian stocks are leading continental peers amid renewed investors’ appetite in bellwether stocks, an analysis by TheCable has shown. Nigerian stocks, still down -3.2 percent year-to-date is ahead of South…
Business Ghana Is Planning To Sell Most Of Its Future Gold Royalties September 24, 2020 Ekemini When portuguese mariners first dropped anchor in the mouth of the river Pra in what is now Ghana, they heard of goldfields so rich that for the following five centuries…
Local Nigeria: Lagos Govt Calls For Monthly Payment Of House Rent September 24, 2020 Ekemini The Lagos State Government has called on stakeholders in real estate, to work out modalities for residents to pay house rents on a monthly basis instead of annually. Governor Babajide…
World UK Seeks To Seize $39 Million From Lawyer Who Helped Corrupt Nigerian Politician September 24, 2020 Ekemini British prosecutors launched an attempt on Thursday to confiscate 30.8 million pounds ($39.3 million) from a London lawyer who assisted a Nigerian politician in looting and laundering funds from the…
Business The BackEnd: How Nigerian Bank Domiciliary Accounts Compete With Fintech Dollar Features September 24, 2020 Ekemini The BackEnd explores the product development process in African tech. We take you into the minds of those who conceived, designed and built the product; highlighting product uniqueness, user behaviour…
Business FG Places Nine-Year Presidential Jet On Sale September 24, 2020 Ekemini The Federal Government has put up for sale a jet in the presidential fleet, Hawker 4000 aircraft with registration number, 5N-FGX/: RC 066. The business-size jet which entered into service…
Business Pound Depressed Ahead Of UK Chancellor Unveiling Jobs Protection Plan September 24, 2020 Ekemini The pound sank against the US dollar (GBPUSD=X), continuing a negative trend early on Thursday, ahead of the UK chancellor Rishi Sunak unveiling his plan to protect jobs this winter.…
Business CBN Raises ABP’s Collateral Guarantee To 50 Per Cent September 24, 2020 Ekemini Disburses N200 billion in 2020 dry season farming The Central Bank of Nigeria (CBN), has approved additional incentives under its Anchor Borrowers Programme (ABP), through which it will share equal…
Business Nigerian Collector Hopes To Boost Local Pride In Artistic Heritage Amid Black Lives Matter Backdrop September 24, 2020 Ekemini Nigerian art collector Yemisi Shyllon wants to see works created by Nigerian artists and the country’s historical artefacts receive the same recognition at home as they are increasingly attracting overseas.…
Business Regulators In Africa’s Big Economies Are Scrambling To Get On Top Of A Spike In Cryptocurrency Trade September 24, 2020 Ekemini In August 2018, a report on the state of cryptocurrency regulation across Africa came back with one obvious conclusion: most countries were undecided on what to do. In fact, 21…
Local Illegal Levies, Taxes Affecting Cross River’s Economy September 24, 2020 Ekemini Emmah Isong, chairman of Cross River State Anti-tax Agency, warned that anybody caught sabotaging the antitax agency will face the full weight of the law irrespective of social status or…
World UK Watchdog Blasts Banks Over Dirty Money Safeguards September 24, 2020 Ekemini Not all of Britain’s financial firms are convinced of the need to invest large sums to crack down on dirty money, leaving the quality of anti-money laundering controls falling short,…
Business Organised Private Sector Commends CBN On Interest Rate Reduction September 24, 2020 Ekemini Members of Organised Private Sector (OPS) have described Tuesday’s reduction of the Monetary Policy Rate (MPR) from 12.5 per cent to 11.5 per cent by Monetary Policy Committee (MPC) of…
Business Local Funding Approved For $US 1.96bn Nigeria September 24, 2020 Ekemini THE Nigerian Federal Executive Council has approved $US 1.96bn in funding for the construction of the 284km cross-border Kano – Katsina – Jibia – Maradi line, which includes a 93km…
Business Dollar At Two-Month Highs As Resurgent Coronavirus Threatens Economy September 24, 2020 Ekemini The U.S. dollar reached a two-month high on Thursday as concern grew over the resilience of an economic recovery in the United States and Europe amid a second wave of…
Business The Next Wave Of The Global Recovery Could Send Commodity Prices Soaring September 24, 2020 Ekemini The next phase of the economic recovery is likely to be driven by commodity-intensive infrastructure investment, analysts have told CNBC, potentially setting the stage for further gains across the industrial…
Business Oil Drops After Warnings On U.S. Economy And Global Crude Demand September 24, 2020 Ekemini Oil dropped in London and New York following warnings over global energy demand and the state of the U.S. economy. Crude fell along with other risky assets after Federal Reserve…
Business ECB Hands Banks $203 Billion In Cheap Cash To Boost Lending September 24, 2020 Ekemini Euro-zone banks took 174.5 billion euros ($203 billion) in another dose of ultra-cheap funding as the European Central Bank gives them every possible incentive to keep lending to the pandemic-stricken…
Business Forex: PSN Seeks CBN’s Prioritisation Of Healthcare Industry September 24, 2020 Ekemini Pharmaceutical Society of Nigeria (PSN) has appealed to the Central Bank of Nigeria (CBN) to prioritise allocation of foreign exchange (forex) to beneficiaries of the N100billion intervention fund to procure…
Business How To Register For FG’s N75 Billion MSME Survival Funds September 24, 2020 Ekemini The Federal Government (FG) has released the guidelines to access the N75 billion Micro, Small and Medium Enterprises (MSME) Survival Fund and Support Initiatives, which took effect from September 21,…
Business Local Buhari’s Orders To The Central Bank Are Harming Its Credibility September 24, 2020 Ekemini RECENTLY, after reading, for the umpteenth time, about President Muhammadu Buhari’s “orders” to the Central Bank of Nigeria, CBN, I tweeted: “All this @MBuhari ‘asks’, ‘orders’, ‘directs’, ‘instructs’ the @cenbank…
Local Nigerians In Switzerland Petition EFCC, SGF, Ministry Over Alleged Corruption In Embassy September 24, 2020 Ekemini Nigerian Youth Movement of Switzerland has written a petition letter to the Economic and Financial Crimes Commission (EFCC), Secretary to the Government of the Federation (SGF), and the Ministry of…
