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Nigeria has formally entered its second economic recession in five years as the severe impact of the COVID-19 pandemic on global crude oil prices and restrictions imposed to curb the virus caused the nation’s economy to contract for the second consecutive quarter by 3.62 percent in the third quarter of 2020.
At the backdrop of the destructions of public and private properties and businesses in the wake of the #EndSARS protests, businesses have been counting their losses while economy experts have listed the immediate challenges the crises have thrown up against Nigeria’s struggling economy.
Panic sell off continued on the Nigerian Stock Exchange (NSE) on Tuesday with the market capitalisation shedding N656 billion in what an expert attributed to fear of naira devaluation.
Capital market stakeholders have hailed the final approval given by members of the Nigerian Stock Exchange (NSE) to demutualise the exchange to become a profit-making and limited liability company, saying it will benefit the market and the economy.
Capital market operators on Tuesday urged the new Federal Inland Revenue Service (FIRS) chairman to ensure the removal of Value Added Tax on capital market transactions to boost investment in the country.
Some financial experts on Monday attributed the incessant lull on the Nigerian Stock Exchange (NSE) to various economic dislocations in the country.
Some capital market operators on Thursday said there was the need for the new ministers to commence work without delay to revive the nation’s economy to avoid another round of recession.
The Nigeria Deposit Insurance Corporation, NDIC, said that decision to liquidate the defunct Fortis Microfinance Bank was taken after efforts to resuscitate the bank proved abortive.
Financial experts on Saturday said the hasty postponement of the general elections by the Independent National Electoral Commission would create uncertainty and affect inflow of foreign investments.
Zainab Ahmed, Minister of Finance, said on Thursday that the Federal Government will be releasing new revenue initiatives which will include a new set of taxes and excise duties.
Shareholders and financial experts have expressed mixed reactions over the decision of the Central Bank of Nigeria, CBN, to revoke the licence of Skye Bank.
Investors on the Nigerian Stock Exchange (NSE) lost N2.49 trillion or 15.64 per cent between January and July, a development experts attribute to the political uncertainty in the country.
The Securities and Exchange Commission (SEC), on Friday tasked MTN Group on official filing of Initial Public Offering (IPO) which gathered media momentum in the last couple of months.
The Nigerian Stock Exchange (NSE) has suspended trading in the shares of seven insurance companies and RT Briscoe for not submitting their 2017 audited accounts and statements.
Capital market operators on Tuesday urged the Federal Government to focus more on infrastructure development to boost local employment and consolidate the achievements of the past three years.
Oando Plc and seven other companies outperformed stocks on the Nigerian Stock Exchange (NSE) in April to emerge as top performing equities in percentage terms.
Financial experts on Thursday expressed optimism that the Monetary Policy Committee (MPC) would review the interest rate at its subsequent meetings when the 2018 budget would have been passed.
Some financial experts on Monday expressed optimism that the Monetary Policy Committee (MPC) would ensure ease the Monetary Policy Rate (MPR) at its first 2018 meeting slated for April 3 and April 4.
Some capital market operators on Monday predicted that the Nigerian Stock Exchange (NSE) All-Share Index would likely close 2017 with over 40 per cent growth.
Vice President Yemi Osinbajo will represent Nigeria at the sixth inauguration of President Yoweri Museveni of Uganda.
The Lagos State Government on Tuesday said it had recovered more than N50 million from parties involved in illegal real estate transaction activities.
The state’s Deputy Governor, Manassah Jatau, made the declaration in Gombe on Tuesday when a Presidential Visitation Panel, led by Prof. Kenneth Okiongbo, visited the school.
The Bauchi State Road Traffic Agency (BAROTA), on Tuesday, reiterated that activities of commercial motorcycle riders, popularly known as ‘Okada’ or ‘Achaba’, remained banned in the state.
An African regional organisation said about 60 per cent of people from South Sudan are facing “their worst food security” and nutrition crisis since the country became independent a decade ago.
The Africa Union's health watchdog on Thursday praised the United States' support for a waiver on patent protections for Covid-19 vaccines as a "remarkable expression of leadership".
The Senate yesterday assured the Chief of Defence Staff (CDS), General Lucky Irabor, the service chiefs, Acting Inspector-General of Police (IG), Mr. Alkali Usman, and heads of intelligence agencies, of its readiness to ensure that they have all they need to tackle the worsening insecurity in the country.
Due to the current Covid-19 upsurge in India, Prime Minister Narendra Modi is currently under pressure to impose a lockdown in the country.
The Federal Government has appointed Dr Abdulkarim Obaje, as the National Coordinator, Federal CARES Support Unit, Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES).
The Hammers boss – whose men were beaten by Everton – has called on the Premier League to explain the questions surrounding the integrity of the competition being affected with United’s 3-1 win at Aston Villa their first of three games in five games.