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The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Price of maize set to crash as CBN releases 300,000 tonnes soon

The anticipated release follows moves made by the CBN, working with the Nigeria Customs Service (NCS), in the last quarter of 2020, to facilitate import waivers to four agro-processing companies to import 262,000 tonnes of maize to bridge the shortfall in production and augment local production.
IMF Managing Director Kristalina Georgieva told reporters a new allocation of the IMF’s own currency, Special Drawing Rights, would give countries more fiscal space to address the health crisis and accelerate moves to a digital and green economy.

IMF chief sees ‘high degree of uncertainty’ in global outlook

The head of the International Monetary Fund said on Monday the global economic outlook remained highly uncertain given the coronavirus pandemic, and a growing divergence between rich and poor countries required the IMF to find more resources.
FILE PHOTO - Former pro-democracy lawmaker Ted Hui Chi-fung appears outside West Kowloon Magistrates' Courts in Hong Kong, China November 19, 2020. REUTERS-Lam Yik

Former Hong Kong lawmaker rejects HSBC’s explanation for frozen accounts

Former Hong Kong lawmaker Ted Hui has renewed his criticism of HSBC for freezing his local bank accounts even after the global bank’s chief executive, Noel Quinn, wrote to him to explain the circumstances of the change.
FILE PHOTO: Janet Yellen, U.S. President-elect Joe Biden's nominee to be treasury secretary, takes to the podium to speak as President-elect Biden announces nominees and appointees to serve on his economic policy team at his transition headquarters in Wilmington, Delaware, U.S., December 1, 2020. REUTERS/Leah Millis

WSJ: Treasury nominee Janet Yellen to say U.S. does not seek weaker dollar

Janet Yellen, President-elect Joe Biden’s pick to take over the U.S. Treasury, is expected to affirm the United States’ commitment to market-set currency rates when she testifies on Capitol Hill on Tuesday, the Wall Street Journal reported.

Pat Utomi: Nigeria better five years ago

Nigeria’s leading political economist and Co-convener, National Consultative Forum, Prof. Pat Utomi at the weekend rejected a claim by the President Muhammadu Buhari administration that Nigeria is better than it met it more than five years ago.
The wife of the embattled Managing Director of the First City Monument Bank, Hauwa Adam Nuru, has shown solidarity with her husband, adding that she had never contemplated leaving him.

Wife of embattled FCMB chief denies leaving husband

The wife of the embattled Managing Director of the First City Monument Bank, Hauwa Adam Nuru, has shown solidarity with her husband, adding that she had never contemplated leaving him.
Abdulrahman Abdulrazaq

Kwara governor launches 10-year agric transformation plan

Kwara State Governor AbdulRahman AbdulRazaq on Friday launched a 10-year Agricultural Transformation Plan, which is designed to ensure food security, generate employment opportunities, and reduce poverty rate.
People shop at market stalls, with skyscrapers of the CIty of London financial district seen behind, amid the coronavirus disease (COVID-19) pandemic, in London, Britain, January 15, 2021. REUTERS-Toby Melville

UK economy shrinks but might avoid double-dip recession

Britain’s economy shrank in November as it went into a new lockdown, but the decline was smaller than expected as businesses adjusted to social distancing and schools remained open, making a double-dip recession less likely.
Africa Development Bank (AfDB) is planning to invest $10 billion for the expansion of renewable energy projects in the continent, over the next five years.

AfDB mulls $10 billion boost for Africa’s renewable energy

Africa Development Bank (AfDB) is planning to invest $10 billion for the expansion of renewable energy projects in the continent, over the next five years.

Nigerian government seizes bank’s assets over Shell’s N183 billion debt

Nigerian government have moved to sequester the assets of the country’s premier lender First Bank of Nigeria Limited in an effort to recover the damages oil major Royal Dutch Shell owed the Ejama Ebubu community of Rivers State in a legal contest spanning many decades, Bloomberg reported Thursday.
Stanbic IBTC

Stanbic IBTC closes Bureau de Change operations

Stanbic IBTC Bureau De Change Limited (SIBDC), a subsidiary of Stanbic IBTC Holdings Plc, has announced the closure of its Bureau de Change operations.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

World Bank to invest $5 billion in Africa’s drylands

The World Bank Group plans to invest over $5 billion over the next five years to help restore degraded landscapes and improve agriculture productivity.
The Economic and Financial Crimes Commission (EFCC) says an investigation is ongoing on the seized $2.8 million at Akanu Ibiam International Airport, Enugu.

EFCC asks court to inspect $9.8 million, £74,000 in CBN seized from ex-NNPC chief

The Economic and Financial Crimes Commission (EFCC) has urged a Federal High Court in Abuja to visit the Kano branch of the Central Bank of Nigeria (CBN) to inspect the $9,772,800 and £74,000 cash seized from a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Engr. Andrew Yakubu.
National Bureau of Statistics NBS

NBS: Nigeria’s public debt increases by N6.01 trillion in a year

According to the NBS report on Nigeria’s Domestic and Foreign Debt Q3 2020, Nigeria’s total public debt stock constituting of external and domestic debts, stood at N32.22 trillion ($84.57 billion) as of September 30, 2020.

Hong Kong emigration to Britain could mean $36bln capital outflow

Hong Kong residents leaving the city to move to Britain could trigger capital outflows of HK$280 billion ($36 billion) this year from the Asian financial centre, a new report published by Bank of America (BofA) said.
A Nigerian police officer holds a bunch of handcuffs in Abuja on October 3, 2020. Sodiq Adelakun-Channels TV

Police arrest two who disguises as spirits to defraud unsuspecting individuals

Police in Katsina State on Wednesday says it has succeeded in arresting two who disguises as spirits (Aljannu) to defraud unsuspecting individuals of their monies in the state.
Governor Nyesom Wike on Tuesday claimed the Niger Delta Development Commission, NDDC, spent the sum of N10 billion to fight him during the 2019 governorship election.

Rivers governor confirms N78 billion refund from federal government

Wike made the confirmation on Wednesday when he led the 2019 Vice-Presidential candidate of the Peoples Democratic Party (PDP), Peter Obi, to inaugurate the Isiokpo Internal Roads Phase 2 in Ikwerre Local Government Area of the state.
FILE PHOTO - Barclays chief executive Antony Jenkins poses for the media in London February 12, 2013. REUTERS-Luke MacGregor

Bank of England candidate feels heat from bitcoin’s red-hot rally

A candidate for the Bank of England’s supervisory arm for banks defended on Wednesday his senior role on a bitcoin trading platform, saying it took safeguards against money-laundering very seriously.

Recent Stories

A Nigerian police officer holds a bunch of handcuffs in Abuja on October 3, 2020. Sodiq Adelakun-Channels TV

Police nab 11 ‘cultists’ in Lagos

The suspects are Yusuf Abiodun, 22, Jamiu Salami, 30, Dare Taiwo, 27, Oluwatobiloba Aberaman, Balogun Taofeek, 18, Samuel Owolabi, 16, Ejemina Godfrey, 39, Godwin Innocent, 22, Keneting Uduenga, 29, Ayeni Wales, 29 and Lekan Olajide, 22.
Former world champion Amir Khan has tabbed WBC world champion Tyson Fury to defeat WBO, IBO, WBA, IBF champion Anthony Joshua, if the two British heavyweights ever collided in a unification.

Promoter hints of venue for Anthony Joshua vs Tyson Fury showdown

Eddie Hearn has hinted at a possible venue for the long-awaited heavyweight clash between Anthony Joshua and Tyson Fury.
Italian Prime Minister Giuseppe Conte faces a confidence vote at the lower house of parliament after former PM Matteo Renzi pulled his party out of government, in Rome, Italy, January 18, 2021. REUTERS-Guglielmo Mangiapane-Pool

Italian premier comfortably wins lower house confidence vote

Italian Prime Minister Giuseppe Conte won a crucial confidence vote in the Chamber of Deputies on Monday, hanging on to power after a junior partner quit his coalition last week and opened a political crisis amid the raging COVID-19 pandemic.
FILE PHOTO - U.S. Census Bureau Director, Dr. Steven Dillingham holds up his U.S. Census bags, one from 1890 which was a gift from his wife, in the Ravn Air terminal in Bethel, Alaska U.S., January 21, 2020. REUTERS - Brian Adams

U.S. Census Bureau director resigns

The U.S. Census Bureau’s embattled director resigned on Monday and will retire on Wednesday, the day Democratic President-elect Joe Biden is inaugurated, according to a letter on the bureau’s website.
Mike Dunn, a member of the Boogaloo Boys movement, attends a gathering outside the Virginia State Capitol on Lobby Day, a day traditionally set aside for the public to lobby lawmakers, in Richmond, Virginia, U.S. January 18, 2021. REUTERS-Leah Millis

Annual pro-gun event at Virginia fizzles in wake of U.S. Capitol siege

Only a few dozen gun-rights activists converged on the Virginia state capital on Monday for an annual demonstration that typically draws thousands, with this year’s protests dampened by tensions in the wake of the Jan. 6 siege of the U.S. Capitol.