Business Local NIN: Telecom Operators Get NIMC Enrolment Licences December 27, 2020 Ekemini Mobile network operators (MNOs) on Wednesday said they have enrollment and verification licences from the Federal Government. The development followed the stampede that was witnessed at the registration centres of…
Business Local NSE Market Capitalisation Hits N20 Trillion On Sustained Rally December 27, 2020 Ekemini The market capitalisation of the Nigerian Stock Nigerian (NSE), which is the total value of all listed equities, hit a historic peak of N20.281 trillion yesterday, as investors increased demand…
Business Pound Rally Seen Capped To 2018 Level On A Brexit Trade Deal December 27, 2020 Ekemini Currency strategists are delivering a reality check on how far the pound rally can go if the U.K. and European Union finally clinch an historic trade deal. The general consensus…
Business Biggest Nigerian Pension Fund Manager Has Plan To Help The Naira December 27, 2020 Ekemini Faced with bond yields coming off record lows and a hard-to-trade equity market, Nigeria’s biggest pension-fund manager wants the flexibility to invest directly in large local projects. Financing the development…
Business Local Govt – Border Reopening: Poultry, Rice Importation Remain Banned December 23, 2020 Ekemini Osogbo — The Minister of Interior, Mr. Rauf Aregbesola, has said that despite the reopening of borders, the importation of rice and other items remain banned. He said with the…
Africa Business African Free Trade Agreement To Boost Agriculture December 23, 2020 Ekemini The African Continental Free Trade Area (AfCFTA), due to launch in January 2021, is likely to be a watershed for African regional and international agri-food trade, a new report said.…
Local Large Crowd Gathers At NIMC Office In Lagos For NIN Registration Amid COVID-19 Second Wave December 23, 2020 Ekemini The Nigerian government had last week issued an ultimatum to all telecommunications operators in the country to block all Subscriber Identification Modules (SIMs) without National Identification Number (NIN). Large crowds…
Business Local Nigeria Is Facing Worst Security Challenge In History – Gombe Gov December 23, 2020 Ekemini Gombe State Governor, Muhammadu Inuwa Yahaya, has declared that Nigeria is facing the worst security challenge in its history. The Governor was speaking, on Monday, while swearing-in local government Chairmen…
Business Local Nigeria’s Parliament Passes $35.66 Bln Budget For 2021 December 23, 2020 Ekemini Nigeria’s parliament approved on Monday the government’s 2021 budget of 13.6 trillion naira ($35.66 billion), assuming 3% annual economic growth, oil prices of $40 a barrel and 1.86 million barrels…
Business Sterling Slumps On Tighter UK Virus Curbs, Brexit Impasse December 23, 2020 Ekemini Sterling slumped against the dollar and euro on Monday after the British government announced new restrictions to curb a fast-spreading strain of the coronavirus and France, Germany and others cut…
Business Local NDIC Verifies Depositors In 42 Liquidated MFBs For Payment December 23, 2020 Ekemini The Nigeria Deposit Insurance Corporation (NDIC) is in the process of closing 42 Microfinance Banks (MFBs) which operating licenses were revoked by the Central Bank of Nigeria (CBN). The CBN…
Business Local Foreign Investments In Nigerian Shares Rise By 80.6% December 23, 2020 Ekemini FOREIGN portfolio investments in the Nigerian stock market rose by 80.6 per cent to its highest level in 11 months as Nigerian equities continued to outperform average global return. Nigeria’s…
Business New Coronavirus Strain Hits Pound, Euro As Investors Seek Dollars December 23, 2020 Ekemini The British pound and the euro fell on Monday as investors sought refuge in the dollar, after a fast-spreading new coronavirus strain shut down much of the United Kingdom and…
Business Local FX Market Ends Week With Naira Weakening By 0.42% December 23, 2020 Ekemini The foreign exchange market closed the week with Naira weakening by 0.42 percent after exchanging with the dollar at N477 compared to N475 closed for the previous week on the…
Business Local Zero Oil Plan Designed To Boost Foreign Exchange Earning December 23, 2020 Ekemini Director General of the Nigeria Export Promotion Council (NEPC), Segun Awolowo has explained that the zero -oil plan initiative developed by the commission was introduced to boost foreign exchange earning…
Business Local Dangote Cement To Commence Tranche 1 Share Buyback Programme By December 30th 2020 December 23, 2020 Ekemini Dangote Cement Plc (“Dangote Cement” or “DCP” or the “Company”) hereby announces the commencement of its share buy-back programme (the “Share BuyBack Programme” or the “Programme”). The Share Buy-Back Programme…
World Cameroon Says Boko Haram Infiltrates Top Business And Political Leaders December 23, 2020 Ekemini A Cameroonian official said Friday he had found evidence that, as widely suspected, Boko Haram militants have been establishing close ties in Cameroonian political and business circles. The revelation came…
Business Local Oil Prices Skid As New Coronavirus Strain Fuels Demand Worries December 22, 2020 Ekemini Oil prices dropped more than 3% on Monday, as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe fuelled worries…
Business Local Taming Nigeria’s Rising Inflation December 22, 2020 Ekemini The recent report by the National Bureau of Statistics (NBS) showed that the consumer price index (CPI) which measures inflation rate increased by 14.89 per cent in November 2020. That…
Local No Need To Panic Over New UK Coronavirus Strain, Says India’s Health Minister December 22, 2020 Ekemini India’s health authorities remain vigilant and prepared to deal with a new more transmissible strain of the coronavirus identified in Britain, the country’s health minister said on Monday, adding that…
Business Local External Reserves Shed $567m In 2wks December 22, 2020 Ekemini The nation’s external reserves fell by $567 million in the first two weeks of this month. According to the latest data from the Central Bank of Nigeria (CBN), the reserves…
Business World COVID-19: Denmark Joins Growing List Of Countries To Ban Travel From UK Over Mutated Strain Fears December 22, 2020 Ekemini Countries around the world have imposed restrictions on travel from the UK due to fears of a new strain of the coronavirus. Denmark is the latest country to announce new…
Business Local 42 Microfinance Banks Lose Licences December 22, 2020 Ekemini The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 microfinance banks (MfBs). The affected banks have been shut down. The Nigeria Deposit Insurance Corporation (NDIC) has…
World Canada Restricts Travel From U.K. Due To New Strain Of Virus That Causes COVID-19 December 22, 2020 Ekemini OTTAWA — The Trudeau government is restricting travel from the U.K. in an effort to prevent a new strain of the virus that causes COVID-19 from making it to Canada.…
Business ‘Mobile Money Providers Will End Poor Practices In Financial Sector’ December 21, 2020 Ekemini For 2021, we are certain that the worst case of coronavirus is over and believe that we will not have the experience of #EndSARS again. We are looking forward to…
Business Iraq Devalues Its Currency As Economy Unravels December 21, 2020 Ekemini Iraq devalued its currency by about 20% against the dollar as the cash-strapped government faces an economic crisis brought about by low oil prices and crude-production cuts. The central bank…
Business Local Nigeria’s Forex Reserves Drops By $132.06 Million December 21, 2020 Ekemini NIGERIA’s foreign exchange (forex) reserves dropped by $132.06 million at the weekend as the apex bank continued to use the forex reserves as a buffer against currency depreciation despite slowdown…
Business Dollar Climbs, Sterling Sinks As Coronavirus Lockdowns Stoke Haven Demand December 21, 2020 Ekemini The dollar climbed against major peers on Monday with investors seeking its relative safety as many countries tightened COVID-19 lockdowns. Meanwhile, Britain said the European Union must shift position after…
Business Tesla’s Elon Musk Asks About Converting ‘Large Transactions’ To Bitcoin December 21, 2020 Ekemini Elon Musk on Sunday asked about the possibility of converting “large transactions” of Tesla Inc’s balance sheet into bitcoin, according to a Twitter exchange between Musk and a well-known advocate…
Business Local Offshore Investments By Oil Majors Plunge December 19, 2020 Ekemini OFFSHORE rig values have declined almost 42 per cent in the last 12 months, equating to a loss of around $30 billion, Norwegian firm, Bassoe Offshore, said. It noted that…
