Wednesday, February 17, 2021
N24m Judgment Debt: Businessman Seeks EFCC Assistance
A businessman, Mr. Lateef Adebimpe has requested for the assistance of the Economic and Financial Crimes Commission (EFCC) to execute a 21 year-old judgment debt which as at February 29th last year stood at N23,530,882.01. This was contained in a petition addressed to the anti-graft agency. Read more
Operators Identify Factors Discouraging Foreign Investors from Stock Market
Foreign investors’ low patronage of the Nigerian stock market has been attributed to scarcity of foreign exchange (FX) as well as concerns about the coronavirus pandemic. Transactions in the local bourse used to be dominated by foreign investors until 2019, when the domestic investors took over the lead. Read more
Inflation rate jumps to 16.47%, highest since April 2017
The consumer price index which measures inflation increased by 16.47 per cent (year-on-year) in January 2021. This is the highest figure recorded in the country since April 2017. The National Bureau of Statistics disclosed this in its Consumer Price Inflation report for January on Tuesday. Read more
Experts blame insecurity as inflation hits record 16.47%
Despite the opening of the country’s borders, the composite food index rose by 20.57 per cent in January 2021 from 19.56 per cent in December 2020. This accounted for the bulk of the country’s inflation rate which rose from 15.75 per cent in December 2020 to 16.47 per cent in January 2021. Read more
CBN’s fight against inflation failing, say economic experts
Economic analysts on Tuesday said the continued rise in the rate of inflation across the country showed that the fight against inflation by the Central Bank of Nigeria was failing. Experts in firms such as the Financial Derivatives Company Limited and Cordros Group, both renowned financial services organisations, stated that the rise in Nigeria’s rate of inflation had lingered for about four years. Read more
Firm plans $2.9 billion deep seaport project in Delta
Mercury Maritime Concession Company (MMCC) is conceptualising a $2.9 billion Escravos Seaport Industrial Complex (ESIC) in Delta State in partnership with the Port of Antwerp international. Speaking to journalists about the project at the Navy Sailing Club in Lagos, the Chairman, MMCC, Andrew Okoja, explained that the $2.9 billion Escravos Seaport Industrial Complex (ESIC) project consists of the deep seaport, free trade zone in three major layouts, oil and gas free trade zone and industrial layouts. Read more
Mastercard, MTN empower consumers to transact on global platforms
Payment and technology firm, Mastercard and MTN have sealed a strategic partnership to enable millions of consumers in 16 countries across Africa to make global e-commerce payments safely and securely. Through a Mastercard virtual payment solution linked to MTN Mobile Money (MoMo) wallets, consumers and merchants can engage with brands and businesses abroad through digital commerce, extending their reach to an international marketplace and unlocking a host of opportunities. Read more
