Central bank told to stop giving forex for food imports
Nigerian President Muhammadu Buhari on Thursday directed the central bank to stop issuing foreign exchange for food and fertiliser imports, according to a statement by his spokesman.
AfDB approves $27.3 million virus response for AU
The African Development Bank’s board of directors has approved the sum of $27.33m in grants to boost the African Union’s efforts to mobilise a continental response to the COVID-19 pandemic.
South African bank profits seen taking years to recover from virus hit
Coronavirus-related bad debts have set South African banks’ profits back by around a decade or more and they are unlikely to recover for at least three years, two top executives told Reuters, as the economy struggles with recession.
Uganda central bank sets up new window for lending to banks
Uganda’s central bank has introduced a new lending window for commercial banks that might encounter short-term liquidity challenges, it said on Tuesday, unveiling another tool to complement its main monetary policy instrument.
Nigerian banks debut quick response code payment in Ghana
The banks: Eco, Zenith and Fidelity; are among six banks in Ghana that initiated services to allow the public pay for goods and services through the universal Ghana Quick Response (Gh QR) code. The Ghana banks are GCB Bank, Bank of Africa, and the Agriculture Development Bank.
POS, Mobile transactions volume hits four-year high in Nigeria
According to the Principal Lead MasterCard Advisors for Sub-Saharan Africa, Bola Asiru, “POS transaction volume along with mobile transactions (Interscheme) value, reached four years high with N416 billion and N275 billion transactions in July respectively.
Insecurity, bane of Nigeria’s economic development – economist
After taking a critical look at security challenges ravaging the country, a professional economist, Dr Felix Amieye-Ofori, has suggested that economic development will continue to elude Nigeria if the situation is not urgently addressed.
Income tax: FIRS inaugurates online portal for financial institutions
The Federal Inland Revenue Service (FIRS) says it has inaugurated a new Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for the use of financial institutions in the country.
Central bank freezes 38 firms’ accounts over forex infractions, others
The Central Bank of Nigeria has instructed banks to place a post-no-debit on the bank accounts of 38 companies.
Nigerian farmers hail AfDB’s boss over re-election, inauguration
Over 40 million Nigerian farmers under the auspices of All Farmers Association of Nigeria, AFAN, Saturday, hailed Dr Akinwunmi Adesina, over re-election and subsequent inauguration as African Development Bank’s President for a second tenure.
N386/$ new exchange rate not sustainable – BDC operators
The Association of Bureau de Change Operators of Nigeria (ABCON) has declared that the new exchange rate for the operators to sell forex at N386 cannot sustain their operations.
DMO: Nigerians’ concerns should be how loans are utilised
The Director-General, Debt Management Office, Patience Oniha, on Wednesday, defended the nation’s debt profile, saying there is nothing wrong with borrowing.
Nigerian government congratulates Akin Adesina on re-election as AfDB president
The Federal Government has congratulated Dr Akinwumi Adesina, President of African Development Bank (AfDB) Group on his re-election as the eighth president of the bank for a second term.
Naira appreciates further at parallel market
The naira strengthened to N440 to a dollar at the parallel market on Tuesday, compared with the N465 to a dollar it was the previous day.
Akin Adesina pledges quality deliverables to Africa through AfDB
Dr Akinwumi Adesina, President of African Development Bank (AfDB) Group, says he will build a much stronger and resilient bank to deliver greater quality impacts on African people.
CBN orders banks to pay 10% of MPR as interest on savings deposit
The Central Bank of Nigeria (CBN) has ordered banks to henceforth pay 10% of it’s Monetary Policy Rate (MPR) as the minimum interest rate on savings deposit.
Aliko Dangote wants Ngozi Okonjo-Iweala as WTO chief
Business morgul and the Africa’s richest man Aliko Dangote has called on member states of the World Trade Organisation (WTO) to vote for former Finance Minister Dr Ngozi Okonjo Iweala fore the director-general of the organisation.
External reserves reverse negative trend, rises to $35.7 billion
The nation’s external reserves, last week, rose (though slightly) for the first time in 12 weeks, to $35.66 billion.
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#EndSARS: Lagos government to investigate Lekki shootings
The Lagos State government said it would investigate reports of shootings at the Lekki Toll plaza, which followed the 24-hour curfew imposed to stop criminals hiding under the #ENDSARS protests to unleash mayhem on innocent citizens.
#EndSARS: Stop killing peaceful protesters – Hillary Clinton tells President Buhari
Former United States presidential candidate, Hillary Clinton, has made a public appeal to Nigeria's President Muhammadu Buhari to end the killing of peaceful protesters.
Manchester United set new club record after another Champions League win vs Paris Saint-Germain
Manchester United's victory against PSG in the Champions League has seen the club win 10 consecutive away games for the first time in their history.
‘Away’ canceled at Netflix after one season
Netflix seems to be on a cancelation streak as of late, and the science fiction space drama Away is the streaming service’s latest victim.
Kano government distributes instructional materials to schools
The Kano State Government, says it has begun the distribution of instructional materials worth over N1.5 billion to primary and junior secondary schools in the 44 Local Government Areas of the state.
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Senate passes PIB for second reading
The Senate on Tuesday at plenary passed for second reading the Petroleum Industry Bill (PIB).
Soldiers, policemen deployed in communities near Abuja airport
Soldiers and policemen were in the early hours of Tuesday deployed in some communities near the Nnamdi Azikiwe International Airport, Abuja, apparently to forestall further breakdown of law and order as the protests against the scrapped Special Anti-Robbery Squad of the Nigeria Police Force continues.
#EndSARS: Protesters block Imo government house entrance
No fewer than 800 youths on Tuesday blocked the entrance to the Imo State Government House for over two hours in the ongoing nationwide protest against police violation of human rights.
Lagos curfew: #EndSARS protesters agree to stop road blockage
The leaders of the #EndSARS protesters along the Lagos-Ibadan Expressway have said they will lift the blockage along the expressway for vehicles to be able to move into Lagos by 2pm (today).
Ole Gunner Solskjaer: Odion Ighalo is part of my plans
Manchester United boss Ole gunner Solskjaer says Odion Ighalo is still very much part of his plan and remains an important member of the squad.