Monday, May 18, 2020 CBN naira defence depletes foreign reserves by $3.17bn Forex scarcity due to falling crude oil price forced the Central Bank of Nigeria to access the country’s foreign reserves to make forex available in the economy; NIKE POPOOLA reports that this gulped $3.17bn in the first quarter…Read more. We have paid FG…
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Friday, May 15, 2020 Oil records second monthly drop, unsold cargoes increase Crude oil in the Organization of Petroleum Exporting Countries reference basket dropped for the second consecutive month in April, shedding 48 per cent of its worth, as cargoes of unsold oil continued to accumulate, OPEC has said…Read more. Nigerian railway insists on face…
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Thursday, May 14, 2020 FG adjusts 2020 budget to N10.52tn, adopts $25 oil benchmark The Federal Government on Wednesday adjusted the 2020 budget downward from the original N10.59tn to N10.52tn. The budget deficit is in excess of N5.3tn…Read more. Nigerian treasury bills oversubscribed by N132bn The Nigerian Treasury Bills auctioned for the month of May…
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Wednesday, May 13, 2020 Total pension assets rise to N10.5tn The total assets under the Contributory Pension Scheme rose to N10.5tn as of the end of February 2020. Figures obtained from the National Pension Commission on Tuesday revealed that the funds which stood at N10.21tn as of the end of 2019 rose by over N289bn…
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Monday, May 11, 2020 Nigerian households spent N2tn on fuel, electricity in 2019 –NBS Households in Nigeria spent a total of N2.02tn on fuel and electricity in 2019, the National Bureau of Statistics has said. …Read more Emefiele assures foreign investors of funds transfer The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has assured…
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Friday, May 08, 2020 Petrol price reduction won’t be immediate, says marketers The latest reduction in the ex-depot price of petrol to N108 per litre will not translate to an immediate drop in the pump price of the commodity at filling stations, oil marketers stated on Thursday. Read more FG targets N103bn from gas flaring…
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Thursday, May 07, 2020 Despite lockdown, stock market investors gain N897bn Notwithstanding the lockdown the Nigerian economy witnessed in April over the ravaging CODIV-19 pandemic, the stock market, boosted by the remote trading via fin-tech, recorded a gain of N897bn during the month. Read more Discos owe NBET N76bn in two months Power distribution companies…
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Wednesday, May 06, 2020 Budget: FG slashes oil benchmark further to $20 The Federal Government on Tuesday revealed plans to cut the oil price benchmark for the current budget to $20 per barrel. The development would make it the second time the Federal Government is slashing the oil benchmark for the 2020 budget. Read more…
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Tuesday, May 05, 2020 Access Bank denies sacking 75% workers, closing branches Access Bank Plc on Monday debunked reports that it plans to sack 75 percent of its workforce and as well close more than 300 branches. Read more Nigerians will pay higher electricity tariffs, FG promises IMF Nigerians will pay much higher tariff for…
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Monday, May 04, 2020 FG retains N125/litre petrol price despite crude oil crash The Federal Government has failed to review the N123.5 to N125/litre pump price of petrol for the month of May 2020 despite continued crash of crude oil price. Read more Cut interest rates to boost economy, says Tinubu The National Leader of…
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