Nigeria Defends Slow Pace Of Virus Testing As Concern Grows
Nigeria defended the slow pace of testing for the coronavirus amid a lockdown that’s paralyzed economic activity in its two…
Category: Local
IMF to Recommend $3.4 Billion Emergency Funding for Nigeria
IMF executive board meets on Tuesday to review request. If approved, the loan would be the largest yet in Africa
Foreign Investor Dollars In Lockdown In Nigeria Debt Market
Country’s reserves under pressure as crude prices plunge. Debtholders await regulator’s dollar sales after lockdown. An aerial view shows empty streets during lockdown in Lagos.
Nigerian Banks To Take $3.8 Billion Hit for Missing Targets
Nigeria’s central bank took 1.47 trillion naira ($3.8 billion) from lenders as additional cash reserves for failing to meet regulatory…
Europe Is Preparing A Trillion-Euro Fund To Rebuild Its Economy
EU leaders have agreed to create a fund that could raise at least 1 trillion euros ($1.1 trillion) to rebuild regional economies ravaged by the coronavirus pandemic.
Central Bank Of Nigeria Set Dec 2024 As Exit Date For Its N50bn Intervention Loans
The Central Bank of Nigeria has set December 31, 2024 exit date for its intervention loans to the Small and…
Sunlight And Humidity Kill Coronavirus The Fastest: US Scientists
US scientists say coronavirus dies the fastest when it is exposed to direct sunlight, though a study cited has not…
Nigeria: GTBank Releases Q1 2020 Unaudited Results, Reports Profit Before Tax Of ₦58.2Billion
Guaranty Trust Bank plc has released its unaudited financial results for the period ended March 31, 2020, to the Nigerian…
Nigeria: Nestlé Donates N700 Million Towards Coronavirus Response
In line with its company’s policy to improve livelihoods in its communities, Nestlé Nigeria has contributed over N700 million to…
Nigerian Telcos Battle Congestion, Suspend Porting, Seek Spectrum Sharing
Telecommunication operators are struggling to keep up with the rise in voice and data traffic that has led to congestion…
Oil Crash May Warrant Production Halt In Nigeria – NNPC
Nigeria has not stopped producing crude oil but a persistent crash in oil prices may lead to a halt in…
Central Bank Of Nigeria To Begin Disbursement Of N50bn COVID-19 Fund On Thursday
Barring any last-minute change in plans, the disbursement of the first tranche of the Central Bank of Nigeria N50bn targeted…
Nigerian Government To Use BVN To Identify Poor Nigerians – Sadiya Farouq
As the coronavirus pandemic continues to rampage, the FG has revealed plans to expand the social register for palliative distribution…
Nigeria To Earn $10.61bn From Crude Oil Between May And December After Recent Production Cuts
Nigeria may earn about $10.61bn from crude oil sales between May and December this year following latest decision by members…
80,000 Apply For Coronavirus Loan In Nigeria
NIRSAL Microfinance Bank (NMFB) has resolved that the business plans for the ₦50 billion Targeted Credit Facility as a stimulus…
Global Oil Price Benchmark Slumps To $19
The global oil price benchmark, Brent crude, has extended its decline, plummeting to $19 per barrel on Tuesday, amid the demand collapse…
Nigerian Port Authority Extends Demurrage-Free Period To April 26
Following its directive to terminal operators to suspend all applicable storage fees on consignments (demurrage) for 21 days effective March…
IMF May Need ‘Exceptional Measures’ To Facilitate Pandemic Response: Georgieva
The International Monetary Fund may need to step outside its comfort zone and consider “exceptional measures” to help countries deal…
Oil Plunges Further To Below Zero For First Time In Unprecedented Wipeout
Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping…
Stocks Sink As Oil Drops To More Than 21-year Low
The May contract for U.S. West Texas intermediate crude oil which expires on Tuesday, dropped 39.74% to $11.07 per barrel…
Nigeria: Lagos State Governor, Sanwo-Olu Orders Mass Production Of Local Masks
Lagos State Governor, Babajide Sanwo-Olu has ordered mass production of locally made masks in a bid to halt spread of…
The Nigerian Stock Exchange Extends Financial Statements Filling Deadline For Firms
The Nigerian Stock Exchange (NSE) has extended the due date for the submission of the audited financial statements (AFS)…
Nigeria’s Economy Beyond COVID-19
The Nigerian economy is currently in dire straits with major economic indicators looking grim amidst increasing vulnerabilities. The disruption…
Nigeria Report: Investment-led Strategy Critical for Economic Recovery – Bismarck Rewane
The Managing Director, Financial Derivatives Company Limited and a member of President Muhammadu Buhari’s Economic Advisory Council (EAC), Mr. Bismarck…
Nigeria: How To Access N50bn COVID-19 Intervention Fund – CBN
The Central Bank of Nigeria says interested stakeholders must meet its set criteria to access its N50bn intervention loans for…
Nigeria’s Central Bank N50bn COVID-19 Fund: NIRSAL MFB Waives Business Plans
The NIRSAL Microfinance Bank (NMFB) has waived Business Plans as a mandatory requirement for loan applications from interested members of…
Nigerian Customs Seize Smuggled Goods, Including Rice Worth N1.77bn
The Ogun Area 1 Command of the Nigeria Customs Service has intercepted 14,951 bags of foreign rice smuggled into the…
Depressed Demand In Global Oil Market Forces Nigeria’s Bonny Light to $12
The dire effect of the Coronavirus pandemic on global demand for crude oil has hit Nigeria hard with one of…
Coronavirus: 4.5 Billion People Are In Lockdown Globally
Nearly six out of every 10 people around the world are currently forced or urged to stay at home to…
Oil Crashes Below $18, The Cheapest Since 9/11
President Donald Trump’s victory lap for convincing Russia and Saudi Arabia to cut production looks awfully premature. US oil prices…