Friday, July 03, 2020 Nigerian banks bleed amid world’s highest cash reserves For every N100 deposit held by Nigerian commercial banks, about N60 idles away with the central bank as regulatory reserves earning zero interest. This means lower profitability for lenders and then stifling access to finance for millions of small businesses in Africa’s largest…
DetailsThursday, July 02, 2020 Why we are against increasing electricity tariff now – DisCos Though the current electricity tariff charged customers is lower than the cost, electricity distribution companies (DisCos) who have always called for an increase say they will back the new tariff plan if problems with collections and technical losses are resolved. The…
DetailsWednesday, July 01, 2020 Saudi Prince Calls Buhari Amid OPEC’s Push for Oil Cuts Saudi Arabia, de facto leader of the OPEC cartel, held a call with fellow member Nigeria as the organization strives to deliver production cuts aimed at bolstering global crude markets, according to Bloomberg. Saudi Crown Prince Mohammed bin Salman and Nigerian…
DetailsTuesday, June 30, 2020 Nigeria in panic mode as World Bank insists on FX rates unification before disbursing agreed $1.5bn Senior government officials were involved in consultations last night as they try to come up with a game plan to untie an agreed $1.5bn loan support from the World Bank which the country badly needs…
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