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A man walks inside a new isolation and treatment centre at the Mobolaji Johnson Arena (formerly Onikan Stadium), erected as an additional measure to handle the outbreak of the coronavirus disease (COVID-19), in Lagos, Nigeria March 27, 2020. REUTERS/Temilade Adelaja

Nigeria imposes offshore oil worker restrictions in coronavirus battle

Nigeria’s petroleum regulator has ordered oil and gas companies to reduce their offshore workforce and move to 28-day staff rotations as part of measures to curb the spread of the coronavirus, according to a circular seen by Reuters.

Nigeria’s central bank halts forex sales to bureaux de change

The Central Bank of Nigeria (CBN) has suspended sales of foreign exchange to Bureau de Change (BDCs) until the COVID-19 pestilence is over.

Nigeria central bank, bankers committee to support pharmaceutical firms

As the country continues to record new cases of corona virus, the Central Bank of Nigeria (CBN) and the Bankers’ Committee rose from an extra-ordinary meeting held in Lagos on Saturday, March 21, 2020, with the pledge to grant funding facilities (in Naira and foreign exchange) to pharmaceutical companies in the country to enable them procure raw materials and equipment to boost local drug production in Nigeria.
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.
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

Uganda to seek $190 million from World Bank to cushion coronavirus blow

Uganda will request the World Bank for a loan of $190 million to help cushion its economy from the impact of the coronavirus pandemic, its finance minister said.
The minister of Finance, Budget and National Planning Mrs Zainab Ahmed disclosed this on Tuesday during her maiden meeting with top officials of the two merged ministries at the headquarters of Budget and National Planning in Abuja.

Nigeria: Coronavirus pandemic, oil price war have reinforced resolve to diversify economy

The federal government Monday declared that unfolding events of the past few months, the coronavirus pandemic and the oil price war have further reinforced its resolve to diversify the national economy.
Aliko Dangote, president of the Dangote Group and chief sponsor of the Dangote Foundation, says he wants to be like Bill Gates and try to give a chunk of his wealth to charity in the next few years.

Aliko Dangote advocates made in Nigeria products

Foremost industrialist, Aliko Dangote, has identified Nigeria’s large domestic market as an incentive to import substitution and diversification of the domestic economy.

CBN: Market unfavourable for Naira devaluation

The Central Bank of Nigeria (CBN) says market fundamentals do not support Naira devaluation this time around.
Demand for products like hand sanitisers, face masks, and cleaning wipes have spiked since Friday when Africa’s most populous nation confirmed its first case of coronavirus.

Official: Nigeria considers forex restriction for importation of hand sanitisers

Hand sanitizers and other anti-viral protective and hygiene products may soon be included in the list of items the Central Bank of Nigeria (CBN) has banned from accessing foreign exchange for their importation.
The Speaker of the House of Representatives, Rep. Femi Gbajabiamila (APC-Lagos), has announced the demise of a former member of the house, Rep. Tony Okey. 5

Forex racketeering: House of Reps probe CBN, FIRS, others over $30 billion leakages

The House of Representatives has resolved to investigate the Central Bank of Nigeria and the Federal Inland Revenue Service over alleged racketeering in the allocation of foreign exchange to companies.

CBN: No hiding place for bad debtors

The Central Bank of Nigeria (CBN) vowed on Saturday that there will be no hiding place for bad debtors in the country.g
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

IMF reduces Nigeria’s 2020 growth projection to two percent

The International Monetary Fund (IMF) has revised downward its 2020 Gross Domestic Product (GDP) forecast for Nigeria to two per cent, from the 2.5 per cent it had predicted earlier.

MAN: Central bank’s forex intervention dampens backward integration

The Manufacturers Association of Nigeria (MAN) has linked the low utilization of local raw materials in the manufacturing sector to policy intervention in the official foreign exchange (forex) market by Central Bank of Nigeria (CBN).
Manufacturers Association of Nigeria (MAN)

Manufacturers identify improved infrastructure as key to realising benefits of AfCFTA

The Manufacturers Association of Nigeria (MAN) has advised the Federal Government to get its policies right by making them industry- friendly, as the operational phase of the AfCFTA commences on July 1, 2020.

CBN approves six companies for dairy products importation

The Central Bank of Nigeria (CBN), has approved six dairy companies operating in the country for the importation of milk products and its derivatives.
Edo State Governor Godwin Obaseki, has asked the Peoples Democratic Party to show proof of allegations that the state treasury is empty.

Governor Obaseki: Digital economy is Nigeria’s most promising alternative to oil

The Edo State Governor, Mr Godwin Obaseki has called for the adoption of smart Information and Communication Technology (ICT) tools and solutions as an alternative to oil in diversifying the Nigerian economy, warning that the country will not develop if the bulk of the country’s savings is still tied to buying foreign exchange for importation.
Angola has reached out to a number of countries for help in recouping funds lost to corruption in the past, the country’s minister of state for economic coordination, Manuel Jose Nunes Junior, said yesterday.

Angola reach out to other countries in corruption crackdown

Angola has reached out to a number of countries for help in recouping funds lost to corruption in the past, the country’s minister of state for economic coordination, Manuel Jose Nunes Junior, said yesterday.
A former banker, Seye Onigbinde, has been arrested by men of the Lagos State Police Command for allegedly defrauding 354 Nigerians to the tune of over N500m in illegal foreign exchange deals.

Ex-banker ‘defrauds’ 354 Nigerians of over N500 million

A former banker, Seye Onigbinde, has been arrested by men of the Lagos State Police Command for allegedly defrauding 354 Nigerians to the tune of over N500m in illegal foreign exchange deals.

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APC hails Governor Obiano’s order for production of three million facemasks in Anambra

The All Progressives Congress, APC, in Anambra State, has hailed Governor Willie Obiano, for ordering the production of three million local masks, and approving 10 percent tax refund to businesses in the state to cushion the effect of COVID-19 on businesses in the state.
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Senator Gyang: Armed bandits killing my people despite coronavirus

Deputy Chairman, Senate Committee on Defence, Senator Istifanus Gyang, Plateau North Friday raised the alarm that despite the Coronavirus, COVID-19 that is at the moment, ravaging the world, his people were being killed by Armed Bandits.
A police water canon sprays disinfectant over residential flats during a 21-day nationwide lockdown called to help curb the spread of coronavirus disease (COVID-19), in Harare, Zimbabwe, April 3, 2020. REUTERS-Philimon Bulawayo

Zimbabwe turns water cannon on coronavirus

Zimbabwe’s police began using water cannon on Friday to disinfect markets and bus ranks, turning instruments associated with repression into weapons against the new coronavirus.
The coronavirus death toll in Spain surged to 2,182 after 462 people died within 24 hours, the health ministry said on Monday.

Spain registers more than 900 coronavirus deaths for second day

Spain, one of the countries worst hit by the coronavirus pandemic, has registered 932 new COVID-19 deaths within 24 hours, bringing the total to 10,935, the Health Ministry in Madrid announced on Friday.