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Vice President Yemi Osinbajo.

Nigerian government will use part of N2.3 trillion ESP stimulus as buyer of last...

The Federal Government will use part of the N2.3 trillion stimulus package to purchase locally produced items as buyer of last resort in line with its Economic Sustainability Plan, according to Vice President Yemi Osinbajo, SAN.
Arla Foods continues to make significant strides in its commitment to develop the local dairy sector through backward integration, with the implementation of its very own commercial 400-cow Arla Dairy Farm in Damau, Kaduna State.

Arla Foods builds commercial dairy farm in Kaduna

Arla Foods continues to make significant strides in its commitment to develop the local dairy sector through backward integration, with the implementation of its very own commercial 400-cow Arla Dairy Farm in Damau, Kaduna State.

Dollar slips after political wrangling slows rally

A dollar rebound faltered on Tuesday as political wrangling over a United States relief plan and the gloomy outlook weighed on the currency.
Kenya Central Bank Governor Patrick Njoroge arrives for a news conference at the Central Bank of Kenya (CBK) headquarters in Nairobi, Kenya July 25, 2019. REUTERS-Stringer

Kenya central banker says still has ‘plenty of firepower’

Kenya’s central bank governor said on Thursday that policymakers still have “plenty of firepower” to combat impact of the coronavirus crisis on the economy.
Men count Nigerian naira banknotes at a livestock market, ahead of Eid al-Adha, amid the spread of the coronavirus disease (COVID-19), in Abuja, Nigeria July 29, 2020. REUTERS-Afolabi Sotunde

Starved of dollars, Nigerian businesses struggle for survival

Around 80% of the materials that go into Lagos-based diaper and sanitary towel manufacturer Wemy’s products are imported. To buy them, Paul Odunaiya needs dollars, which he can no longer find.
Niger Delta Development Commission (NDDC)

Niger Delta groups demand freezing of NDDC accounts

Thirty-five leading Niger Delta-based civil society organisations, CSOs and community organisations, yesterday, demanded immediate freezing of withdrawals from all accounts of the Niger Delta Development Commission, NDDC, and cessation to reckless activities at the interventionist agency.
Inspector-General of Police Mohammed Adamu

IGP asks court to dismiss deposed emir Sanusi’s suit

The Inspector-General of Police, Mohammed Adamu, has asked the Federal High Court in Abuja to dismiss a suit filed by the deposed Kano emir, Muhammadu Sanusi, over his banishment.
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.

Nigeria’s central bank retains benchmark interest rate at 12.5% percent

The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 per cent.
A Zenith Bank logo is seen on a sign on top of the bank in Freetown, Sierra Leone August 19, 2017. REUTERS-Afolabi Sotunde

Nigerian banks to limit debit card spending abroad to ease forex risk

Nigerian banks plan to reduce the amount customers can spend abroad using debit cards on Monday, two lenders said, as banks try to limit foreign currency settlement risk.
A man reads a message on data bundles from mobile telecoms operator Econet Wireless on his mobile phone in Harare, Zimbabwe, January 13, 2017. REUTERS-Philimon Bulawayo

Zimbabwe accuses mobile phone operator Econet of money laundering

Zimbabwean police have issued a warrant against the largest mobile phone operator Econet Wireless to hand over a list of its mobile money transactions and subscribers because authorities suspect it of involvement in money laundering, according to the warrant.
President Muhammadu Buhari is currently presiding over the Emergency National Executive Council, NEC, meeting of the All Progressives Congress, APC, at the Council Chamber, Presidential Villa, Abuja.

President Buhari: Improved gold mining operations will generate 250,000 jobs, $500 million income

President Muhammadu Buhari has said that the improved gold mining operations in the country will generate no fewer than 250,000 jobs and over $500m annually in royalties and taxes to the Federal Government.

Lebanon central bank sets up committee to restructure banks

Lebanon’s Central Bank has set up a committee to restructure financially-stricken commercial banks and study their performance, a memo by the bank seen by Reuters on Thursday showed.
Niger Delta Development Commission (NDDC)

Reps: NDDC spent N82 billion on condolences, travel allowance, coronavirus, others in five months

The House of Representatives Committee on the Niger Delta Development Commission (NDDC), on Wednesday, interrogated officials of the Central Bank of Nigeria, the Accountant-General of the Federation and the Auditor-General of the Federation over an alleged N82.5bn spent by the NDDC between January and May 2020.
Minister of Niger Delta Affairs, Senator Godswill Akpabio and Prof Kemebradikumo Daniel Pondei, Acting Managing Director

Senator Akpabio: We are determined to reposition NDDC

The Minister of Niger Delta Affairs, Godswill Akpabio, on Tuesday, said the present regime was committed to repositioning the Niger Delta Development Commission despite the grumblings being experienced.
Congolese workers are seen at a construction site for a new overpass dubbed sheep-jumps along a street in Kinshasa, Democratic Republic of Congo February 12, 2020. REUTERS-Hereward Holland

Congo central bank keeps 2020 economic growth forecast at -2.4%

The Democratic Republic of Congo’s central bank kept its 2020 economic growth forecast unchanged at -2.4% because of the uncertainty over the COVID-19 pandemic.

DisCos advocate CBN-funded massive roll-out of meters to address power challenge

Power Distribution Companies (DisCos) have advocated a Central Bank-funded massive meters roll-out project, to ensure that electricity customers were adequately metered.
Nigeria Naira

Nigeria’s central bank ‘devalues’ Naira again

The Central Bank of Nigeria on Tuesday adjusted the value of the naira to exchange to the dollar at N381, as parts of measures to converge the nation’s multiple exchange rates and ensure stability.
The Monetary Policy Committee (MPC) of the South African Reserve Bank decided to cut the repo rate by 100 basis points. This takes the repo rate to 4.25 per cent per annum, the bank said in a statement.

South African central bank reduces bond purchases to R5 billion in June

The South African central bank reduced its government bond purchases to 5 billion rand ($292.64 million) in June, half the monthly average, bringing its bond holdings to 35.9 billion rand, data showed on Tuesday.

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Chairman Senate committee on sports and Ebonyi state Football Association boss Senator Obinna Ogba has been appointed as the new Chairman of the 2nd tier Nigeria National League NNL.

NFF appoints Senator Ogba as NNL new boss

Chairman Senate committee on sports and Ebonyi state Football Association boss Senator Obinna Ogba has been appointed as the new Chairman of the 2nd tier Nigeria National League NNL.
MURIC Director, Prof. Ishaq Akintola, said this in a statement on Monday in Lagos.

MURIC denies receiving $200,000 from ISWAP terrorists

The Muslim Rights Concern (MURIC), on Tuesday said it has no link with any terrorist group in or outside Nigeria.
Pastor Osagie Ize-Iyamu

Edo guber: Court fixes date to hear suit seeking APC candidate, running mate’s disqualification

The ongoing political drama in Edo State on Monday shifted to Abuja where some aggrieved members of the All Progressives Congress (APC) have approached the Federal High Court with a suit seeking the disqualification of the party’s candidate for Governor, Pastor Osagie Ize-Iyamu, and candidate for Deputy Governor Mr Audu Ganiyu, in the forthcoming governorship election in the State.
Former Nigeria's President Olusegun Obasanjo

Ex-President Obasanjo: I don’t care what you say about me when I die

Former Nigeria President, Olusegun Obasanjo, says he doesn’t care what is said about him or how he is remembered, when he passes on.
Al Nassr forward Ahmed Musa has quashed reports linking him with a move to Galatasaray by claiming that he is yet to receive any offers for his signature.

Ahmed Musa ends 16 month goal drought for Al Nassr

Super Eagles Captain, Ahmed Musa, ended his bad run in front of goal when he scored in AL Nassr’s 2 – 0 win over Abha on Monday.