Monday, June 15, 2020 Nigeria’s FX demand backlog near 2016 crisis levels of $7bn Nigeria is facing a $7 billion FX demand backlog that is rolling back ugly memories of the dark days of 2016 when manufacturers and investors were starved of dollars leading to a near collapse of the economy…Read more. FG defaults in…
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Thursday, June 11, 2020 COVID-19 threatening 13 million jobs in Nigeria – UN The COVID-19 pandemic may lead to the loss of 13 million jobs in Nigeria, the World Food Programme of the United Nations declared on Wednesday. According to the agency, Nigeria needs urgent financial intervention to boost its economy….read more. Some Nigerian operators…
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Tuesday, June 09, 2020 World Bank projects Nigerian economy to shrink by 3.2% in 2020 Nigeria, Africa’s largest economy and most populous country, is expected to shrink by 3.2 percent in 2020, the World Bank Group said in its June 2020 Global Economic Prospects on Monday. This year’s contraction in activity is set to be…
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Monday, June 08, 2020 Oil Advances Near $43 After OPEC+ Extends Production Cuts Oil rose to trade near $43 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, promising stricter compliance to ensure members don’t pump more than they pledged. Brent futures added as much…
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Friday, June 05, 2020 Buhari sponsors Okonjo-Iweala for WTO top job President Muhammadu Buhari has formally presented former finance minister, Ngozi Okonjo Iweala for consideration for the position of director general of the world trade organization, WTO. The president in a note dated June 4 sent from the Nigerian mission in Addis Ababa, said, “Nigeria…
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Thursday, June 04, 2020 How Nigerians bear brunt of fading foreign direct investments Nigeria is finding out that attracting foreign direct investment (FDI) into a country that has a larger population than France (65 million), Italy (60 million) and Spain (46 million) combined isn’t always straight-forward. Despite its mostly youthful large population and abundant natural…
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Wednesday, June 03, 2020 Lagos delivers 1576 homes in 12months, seeks partnership with private investors Working with the understanding that housing is the bedrock of economic development and social stability, the Lagos State government, in the past 12 months, completed and delivered 1,576 new homes in its various housing schemes across the state. The completion…
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Tuesday, June 02, 2020 FG cuts petrol price to N121.50 but could raise risk for marketers The Petroleum Products Pricing Regulatory Agency (PPPRA) has cut pump price of Premium Motor Spirit (petrol) from N123 to N121.50 per litre for the month of June, but some marketers say frequent movement of prices may impair their ability…
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FirstBank leverages technology to promote virtual bank account opening for customers First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced that it has reinforced its technology infrastructure to enable anyone in the country to open a FirstBank account through their mobile phones without visiting any of its branches…
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Friday, May 29, 2020 Is this the end of Hong Kong as global financial centre The United States could be close to terminating its special economic and trading relationship with Hong Kong. Experts say losing the status won’t cause an immediate exodus of big western companies from the global financial hub, but it could further…
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