Nigeria: Fuel Subsidy Will Not Return, FG Assures IMF
The Federal Government has pledged that it will ensure that fuel subsidy, which was recently removed, does not re-emerge. The…
Category: Local
BREAKING: Nigeria Records 238 New COVID-19 Cases, Total Now 2,170
Nigeria has recorded 238 new coronavirus cases, bringing the total number of infections in the country to 2,170. The Nigeria…
Nigerian Government Continues With The Disbursement Of N50bn Covid-19 Fund
NIRSAL Microfinance Bank has commenced the disbursement of the Central Bank of Nigeria N50bn Targeted Credit Facility. The Managing Director,…
Nigeria: Lagos Directs Reopening Of Government Offices, Establishments
Lagos State Head of Service, Mr. Hakeem Muri-Okunola, has announced the reopening of the State Secretariat, Alausa as well as…
Nigeria: CBN Extends Microfinance Banks Recapitalization Deadline
The Central Bank of Nigeria in consideration of the impact of the COVID-19 pandemic on economic activities has revised the…
Nigeria: FIRS Waives Interests And Penalties On Outstanding Debts To May 31st
The Federal Inland Revenue Service (FIRS) has announced additional palliative measures to further manage the impact of the Coronavirus disease…
Nigeria: BREAKING: We Did Not Approve Fresh 85 Billion Loan For Buhari – Senate
The Nigerian senate has dispelled reports that a fresh N850 billion loan request made by the president was approved during…
Nigeria: Refineries Recorded N9.6bn Loss In January – NNPC
Nigeria’s refineries started their 2020 financial year with losses as they posted a cumulative operational deficit of N9.6bn in January.…
Nigeria: Foreign Reserves Drop By $5.09bn In Four Months
The country’s foreign reserves have continued its downward trend, dropping by $5.09bn from $38.53bn on January 2, 2020 to $33.44bn…
Nigeria: Lagos Sanwo-Olu Orders Markets, Restaurants To Open, But Must Adhere To Certain Rules
The Lagos State Governor, Babajide Sanwo-Olu, has directed the reopening of markets on selected days in the state. He spoke…
Nigerian Banks In Lagos, Ogun And FCT To Open From Monday
The Federal Government says banks will open for commercial operations in Abuja, Lagos and Ogun States beginning Monday, May 4.…
Nigeria: CBN Resumes Dollar Sales For SMEs And School Fees
The Central Bank of Nigeria (CBN) has resumed the sale of foreign exchange to all commercial banks for onward sales…
IMF Approves $3.4bn For Nigeria’s COVID-19 Fight
The board of the International Monetary Fund (IMF) has approved the sum of $3.4 billion to support Nigeria’s COVID-19 fight.…
Germany Grants Nigeria N8.9bn Debt Relief
The Republic of Germany said it has granted Nigeria debt relief amounting to N8.9 billion (€22.4 million) on account of…
BREAKING: 2020 Budget: Senate Approves Buhari’s N850bn Loan Request
The Senate has approved the N850billion loan request of the President, Major General Muhammadu Buhari (retd.), which was read at…
Nigeria: FBN Holdings Shareholders Approve N13.64bn Dividend
Shareholders of the FBN Holdings have approved a total dividend of N13.64bn declared by the company for the financial year…
Nigeria: Buhari Seeks N’assembly Approval For N850bn Loan To Fund 2020 Budget
President Muhammadu Buhari has asked the national assembly to approve a loan request of N850 billion to fund the 2020…
Remote Work Revenue Could Help Microsoft Offset Coronavirus Impacts, Analysts Say
When Microsoft Corp reports earnings on Wednesday, analysts expect some areas of its business to take a hit from the…
Central Bank Of Nigeria Lifts Suspension On Cheques’ Clearing
The Central Bank of Nigeria has lifted suspension on cheque clearing by the Deposit Money Banks. It stated this in…
IMF To Meet On Nigeria’s Emergency Loan Request Today
There are indications that the Executive Board of the International Monetary Fund may approve the $3.4bn loan sought by Nigeria…
New York State Cancels Presidential Primary Over Coronavirus Risk
New York state on Monday canceled its presidential primary over concerns voting was an unnecessary risk amid the COVID-19 pandemic,…
BREAKING: President Buhari Extends Lockdown In Lagos, Ogun, FCT Until May 4, Curfew To Begin After That
President Buhari has extended the lockdown in Lagos, Abuja and Ogun state till May 4th He also sad a dusk…
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…
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…