Friday, March 12, 2021
FG May Earn N30bn from Cargo Transfer to Onitsha Port, Others
The federal government may have struck gold with the plan movement of cargo from Lagos ports to inland ports across the country especially those of the southeastern part of the country like Onitsha. This followed the operating licences issued to about eight barge operators to move containers from Lagos Ports to Onitsha River Port to other inland ports through the nation’s inland waterways. Read more
UBA Upgrades Digital Banking to Deliver First Rate Services to Customers
To deliver first rate services to its millions of customers in Africa and even potential subscribers, the United Bank for Africa (UBA) Plc, has upgraded its digital banking services. Offering banking services to more than 20 million customers across 1,000 business offices and customer touch points in 20 African countries, according to the pan African bank, the upgrade which came in form of a new mobile banking app, is set to change the face of digital banking services. Read more
Nigeria’s rising debt servicing, an economic threat – SEC
The increasing debt service of Nigeria is an economic threat to the country, the Securities and Exchange Commission declared on Thursday. But this might not stop the Federal Government from borrowing to fund the 2021 budget, as the Minister of Finance, Budget and National Planning, Zainab Ahmed, insisted that government had to borrow. Read more
Currency in circulation dropped to N2.83tn in Jan
Currency in circulation in the country dropped by N70bn to N2.83tn in January from N2.9tn as of December 2020, latest figures obtained from the Central Bank of Nigeria showed on Wednesday. According to the CBN, currency in circulation rose from N2.5tn as of the end of October to N2.66tn as of the end of November. The banking regulator stated in its November monthly economic report that currency outside depository corporations, transferrable deposits, and other deposits largely propelled growth in monetary liabilities at the end of the review period. Read more
NIPOST reclaims right as FG strips FIRS of stamp duty collection
The Federal Government on Thursday declared that the Nigeria Postal Service was the agency authorised to produce and collect stamp duties across the country. By this declaration, NIPOST has reclaimed the right to collect stamp duties from the Federal Inland Revenue Service. This brings to an end the prolonged years of scuffle between both agencies on who had the authority to collect stamp duties in Nigeria. Read more
European stocks steady, euro higher before ECB
European stock markets steadied and the euro climbed Thursday as investors awaited signals from the European Central Bank on a possible inflation surge that could hinder economic recovery from the coronavirus pandemic. European equities struggled to benefit from a positive lead from Asia and Wall Street, where the Dow ended at a fresh record high overnight, helped by news that US President Joe Biden’s huge stimulus package had cleared its last hurdle in Congress. Read more
