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Economic Recession

Across Nigeria, New Year’s Eve is usually marked by millions of Christians gathering in churches to usher in the New Year, praying for a better year ahead.

Coronavirus: Nigerian worshippers at a loss as ‘crossover’ prayers cancelled

Across Nigeria, New Year’s Eve is usually marked by millions of Christians gathering in churches to usher in the New Year, praying for a better year ahead.
President Muhammadu Buhari addressing the abducted students in Katsina, December 18th, 2020. Bayo Omoboriowo

President Buhari’s Christmas message to Nigerians — full text

I felicitate with our Christian brothers and sisters in particular and all Nigerians in general on this joyous occasion of Christmas 2020, commemorating the birth of Jesus Christ.

House of Reps mandates NAICOM to suspend recapitalization deadline for insurance firms

The House of Representatives Tuesday, directed the National Insurance Commission (NIACOM) to suspend the planned December 31, 2020 mandatory deadline for the first phase of 50 per cent – 60 per cent of the minimum paid up share capital for insurance and reinsurance companies.
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.

CBN releases banks’ excess CRR to spur economic recovery

As part of efforts to support economic recovery and propel the quest to return to the growth path, the Central Bank of Nigeria (CBN) has approved the release of banks’ excess cash reserve requirement (CRR), which is above the regulatory minimum.
Bitcoin can baffle even bigger-fish investors [Dado Ruvic-Reuters]

Low money market yield, inflation may push more investors to bitcoins

The roller coaster which the Nigerian equities market has enjoyed in the last two months may be short-lived as there are indications that investors are planning to take advantage of the low yield being recorded in the money market by diverting into Bitcoin trading.
4. President Muhammadu Buhari is currently presiding over the 24th virtual Federal Executive Council, FEC, meeting at the Council Chamber, Presidential Villa, Abuja.

Recession: SERAP asks President Buhari to cut cost of governance, not public services

Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari urging him “to put the country’s resources at the service of human rights, and to support the less well-off to enjoy an adequate standing of living through cutting the cost of governance and implementing bold transparency and accountability measures in your government’s response to Nigeria’s second recession in five years.”
Joe Biden promised Thursday to end the “darkness” of Donald Trump’s presidency in a speech accepting the Democratic nomination with an impassioned call for unity and a return to optimism.

US election: Joe Biden launches transition website

Joe Biden, the Democratic candidate for the United States President, has launched an official transition website, www. buildbackbetter .com.
A member, Lagos State House of Assembly, Mr Rotimi Abiru, has appealed to Nigerian youths to remain calm and embrace peaceful resolution of their grievances.

#EndSARS: Lagos assemblymen urges youths to embrace peaceful resolution

A member, Lagos State House of Assembly, Mr Rotimi Abiru, has appealed to Nigerian youths to remain calm and embrace peaceful resolution of their grievances.
The new minister of State for Budget and National Planning, Clement Agba, has charged staff of the ministry to work harder and smart to realize the Next Level agenda of the federal government.

Nigerian government’s stimulus package will avert deep economic recession – minister

Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, has stated that the provision of stimulus package by the Federal Government will go a long way in preventing the country from plunging into deep economic recession.
Premier League teams are in the race to sign Nigerian attacker Emmanuel Dennis following his impressive performance for his club side Club Brugge.

Leeds United considers summer move for Nigerian forward

Newly promoted Premier League side Leeds United are interested in signing Nigerian forward Emmanuel Dennis in the summer.
Illustration photo shows a two-rand coin above a South African flag April 12, 2017. REUTERS-Thomas White-Illustration

South African rand opens stronger after positive data

South Africa’s rand opened stronger on Friday and was on course for gains of roughly 2% against the dollar this week, after the first current account surplus in 17 years and an upbeat U.S. jobs report.
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

Report: About 7 million students face risk of dropping out globally

The report presents the results of simulations considering different lengths of school closure (3, 5, and 7 months) and different levels of mitigation effectiveness (mostly remote learning), resulting in an optimistic, intermediate, and pessimistic global scenario.
Akwa Ibom State Governor, Udom Emmanuel, says the idea of random testing for COVID-19 in the state is a waste of government resources.

Akwa Ibom slashes 2020 budget from N597.7 billion to N195 billion

Akwa Ibom State House of Assembly on Wednesday passed into law the amended 2020 appropriation law from initial N597.74billion outlay to N195billion, to meet up with the economic challenges due to COVID-19 pandemic.

NUJ urges government, stakeholders to provide life insurance for journalists on frontline

The national secretariat of Nigeria Union of Journalists, NUJ, has called on the Federal Government and other stakeholders to provide life insurance for journalists, who are on the frontline in the coverage of the Covid-19 pandemic.
President Muhammadu Buhari on Sunday said the federal government will provide relief materials for residents of Lagos and Abuja whom he ordered to stay-at-home as part of measures to curb the spread of the coronavirus.

Nigerians brace for lockdown as Africa tries to halt virus

Over 20 million Nigerians on Monday scrambled to prepare for lockdown in sub-Saharan Africa's biggest city Lagos and the capital Abuja, as the continent struggled to curb the spread of coronavirus.
Nigeria Naira

Nigeria ‘devalues’ naira as analysts asses market situation

As the Coronavirus, COVID-19, pandemic continues to take a toll on the Nigerian economy, the Central Bank of Nigeria, CBN, has technically devalued the naira to reflect market conditions as analysts and market operators said they are not surprised.

National Hospital records high patronage on knee, hip replacement surgeries

The National Hospital says it has been recording high patronage on knee and hip replacement surgeries since 2015.

Governor Dickson orders immediate payment of new national minimum wage

Governor Seriake Dickson of Bayelsa State has approved the payment of the N30,000 new National Minimum Wage to workers in the state with effect from this month.

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The Imo State Governor, Senator Hope Uzodinma briefing the State Press after a ‘closed door’ meeting with President Muhammadu Buhari at the Presidential Villa Abuja. PHOTO - SUNDAY AGHAEZE. JAN 18 2021

Imo governor raises alarm over coronavirus surge, seeks presidential intervention

Gov. Hope Uzodinma of Imo has raised alarm over what he described as devastating effects of the second wave of Coronavirus pandemic in Imo, calling for urgent presidential intervention to check the menace.
Secretary to the Government of the Federation (SGF) and Chairman of the PTF on COVID-19, Mr Boss Mustapha, who raised the concern on Thursday during the daily press briefing by the task force in Abuja.

Nigeria to conduct 450 coronavirus tests per local council

The Presidential Task Force (PTF) on COVID-19 says the Nigeria Centre for Disease Control (NCDC) will carry out 450 COVID-19 tests in each local government area of the country.

Court fixes date to hear suit seeking to oust ex-Speaker Dogara from House over...

The Federal High Court, Abuja, will, on February 4, hear a suit filed by the Peoples Democratic Party (PDP) asking for the declaration of the seat of Rep Yakubu Dogara vacate on account of his defection to the All Progressives Congress (APC).
Enugu Rangers forward Israel Abia has emerged winner of the prestigious Eunisell Boot Award for the top scorer in the 2019-20 Nigeria Professional Football League season.

Rangers forward Israel Abia wins Eunisell Boot award

Instituted by Eunisell, West Africa’s largest independent chemical as well as oil and gas engineering solutions company, the Eunisell Boot seeks to instill greatness in players in the domestic top flight and celebrate their success story.
The Vice Chancellor, Florence Obi, disclosed that the date was picked to allow management carry out repairs in some of the hostels that had been destroyed and vandalized in the violence that tailed the #EndSARS protests in the state.

UNICAL to resume 2019/2020 academic session February 5

The Vice Chancellor, Florence Obi, disclosed that the date was picked to allow management carry out repairs in some of the hostels that had been destroyed and vandalized in the violence that tailed the #EndSARS protests in the state.