Tuesday, December 01, 2020
Biovaccines Pledges to Produce COVID -19 Vaccines in Nigeria
Nigeria’s local vaccine production company, Biovaccines Nigeria Limited (BVNL) has said it will ensure that Nigeria is served coronavirus vaccines simultaneously with other parts of the world as soon as the World Health Organisation (WHO) gives its nod for the use of any of the several COVID-19 vaccine candidate. Read more
Afreximbank signs Agreement for FEDA
The African Export-Import Bank (Afreximbank) and the Republic of Rwanda, in Cairo, recently signed key documents related to the establishment of the Fund for Export-Development in Africa (FEDA), a development-oriented subsidiary of Afreximbank. Read more
CBN Grants Unfettered Access to Forex from Diaspora Remittances
The Central Bank of Nigeria (CBN) yesterday unveiled a new policy that grants unfettered access to Forex from Diaspora and other money transfer remittances like Western Union and MoneyGram. The bank also clarified transactions that are eligible under the policy in line with global best practices. Read more
NSE migrates four firms to growth board
The Nigerian Stock Exchange has announced the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc from the Alternative Securities Market to the Growth Board. The Exchange also on Monday inaugurated the associated Growth Board Index. This migration, according to the Exchange, follows the receipt of applications from these companies requesting to be migrated from ASeM, and consequent screening and approval by the National Council of The Exchange. Read more
Forex scarcity bites harder, CBN amends diasporan remittance law
The Central Bank of Nigeria said on Monday that it had amended the procedures for receipt of diaspora remittances as part of its efforts to boost the foreign exchange market. It said this in a circular on entitled ‘Amendment to procedures for receipt of diaspora remittances,’ which was signed by Director, Trade and Exchange Department, Dr O. S. Nnaji. Read more
N’Assembly may pass 2021 budget December 10
The Senate and House of Representatives Committees on Appropriations are expected to turn in their report on the 2021 Appropriation Bill on Thursday. It was learnt that some standing committees have, however, yet to submit their reports on the ministries, departments and agencies. The National Assembly would also not be holding a public hearing on the money bill this year, due to the COVID-19 pandemic. Read more
FG granted N341.94bn waivers in three years –Minister
The Federal Government said on Monday that it granted import duty waiver worth N341.94bn from August 2017 to August 2019. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this at a one-day sensitisation seminar on the Automated Import Duty Exemption Certificate at the Nigeria Customs Training College, Kano. Read more
FG, Egyptian firm sign pact to invest in gold mining
The Federal Government and Messrs La Mancha Incorporated, a leading Luxembourg Incorporated Private Gold Development and Mining Company in Cairo, Egypt, have signed an Expression of Interest to invest in gold mining in Nigeria. Read more
How SCADA-DMS will boost power sector efficiency
Electricity consumers have expressed optimism that SCADA-DMS would improve the efficiency of Distribution Companies (DisCos) in Nigeria, while urging others to emulate Eko Electricity Distribution Company (EKEDC) to acquire it. Read more
How SMEs can attract huge private equity investment’
Participants at the Small and Medium Enterprises (SMEs) Finance Series Webinar, organised by the Nigerian Stock Exchange (NSE), in Lagos, weekend, have underscored the need to adopt strategies that would enable operators develop their business models and attract private equity investment. Read more
