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The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

IMF mulls $650 billion special drawing rights to boost countries’ reserves

The International Monetary Fund (IMF) says it will propose a $650 billion special drawing rights (SDR) to boost international reserves of its member countries.
FMDQ Securities Exchange has posted 13.66 per cent turnover growth in the Fixed Income and Currency (FIC) for the month of July.

FMDQ: Nigerian government can leverage derivative market to hedge against oil price volatility

FMDQ Securities Exchange Limited has disclosed that the federal government could leverage derivative product to hedge against crude oil price volatility, just as the global gross market value of Over the Counter, OTC derivative market hits $15.5 trillion in first half 2020, H1’20.
Nigeria Naira

UN projects Nigeria’s GDP to expand by 1.5 percent

Nigeria’s gross domestic product (GDP) is projected to expand by 1.5 per cent this year, after a contraction of 3.5 per cent in 2020, a United Nations (UN) report said on Wednesday. In the latest...
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 mop-up expected as OMO maturities, coupon payments hit system

There are expectations that the Central Bank of Nigeria (CBN) will conduct a mop-up of liquidity as Open Market Operation (OMO) maturities of N50.0 billion and coupon payments of N52.8 billion hit the system this week.
Nigeria's national electricity grid collapsed on Sunday, the Transmission Company of Nigeria (TCN) said in a statement. Power outages in Nigeria, the most populous nation in Africa, are common, but a system collapse is unusual.

Nigerian government eyes N100 billion electricity tariffs collection

The federal government said yesterday that with the renewed financial discipline within the nation’s power sector, following the recent intervention by the Central Bank of Nigeria (CBN), it expects collections of electricity tariffs to hit N100 billion in the short to medium term.
OPEC and its oil allies reached agreement Sunday to cut global production by 9.7 million barrels a day starting May 1, to shore up the world price in the face of a significant drop in the demand for oil because of the coronavirus pandemic.

Nigeria’s oil exploration dips by over 70 percent

There are indications that oil exploration dropped in Nigeria by 70 per cent in February 2021, according to the Organisation of Petroleum Exporting Countries, OPEC.
FMDQ Securities Exchange has posted 13.66 per cent turnover growth in the Fixed Income and Currency (FIC) for the month of July.

FMDQ admits N53.2 billion bonds of Fidelity Bank, TSL SPV

FMDQ Securities Exchange recently approved the listing of the Fidelity Bank Plc Series 1N41.21billion Fixed Rate Subordinated Unsecured Bond under its N100.00billion Bond Issuance Programme to its platform.
The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar.

Bureau de Change operators want more action to support Naira

The Association of Bureau De Change Operators of Nigeria (ABCON) on Monday said that a competitive Diaspora Remittance market space would engender Naira stability.
FMDQ Securities Exchange Limited has through its Board Listings, Markets and Technology Committee, approved the Registration of the Fidson Healthcare Plc ₦10.00 billion Commercial Paper Programme on its platform.

FMDQ Exchange approves registration of Fidson Healthcare N10 billion commercial paper

FMDQ Securities Exchange Limited has through its Board Listings, Markets and Technology Committee, approved the Registration of the Fidson Healthcare Plc ₦10.00 billion Commercial Paper Programme on its platform.
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.

Banking industry report shows mixed development

The Central Bank of Nigeria, CBN, staff report has indicated that the banking industry ended 2020 in a mixed performance. But members of the apex bank’s Monetary Policy Committee, MPC, its highest policy body, have indicated that the industry remained resilient and sound despite some negative impacts of the COVID-19 pandemic during the year.
Ehingbeti, the Lagos Economic Summit scheduled to hold from next Tuesday to Thursday, is living-up to its repute as Africa’s most practical and result-oriented private sector-led forum for socio-economic and infrastructural development.

Ehingbeti summit: Lender pledges funding for SMEs

First Bank of Nigeria and other private sector firms have pledged to support the Small and Medium-scale Enterprises (SMEs) as it is critical in sustaining economic growth.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Operators identify factors discouraging foreign investors from stock market

Foreign investors’ low patronage of the Nigerian stock market has been attributed to scarcity of foreign exchange (FX) as well as concerns about the coronavirus pandemic.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil price hits $60 per barrel as Iraq, Kazakhstan cut output

The price of oil has risen to $60 per barrel in the international market as Iraq and Kazakhstan commit to the Organisation of Petroleum Exporting Countries, OPEC oil cut deal.

IMF: Nigeria’s economic outlook remains challenging

The International Monetary Fund (IMF) says that Nigeria’s outlook remains challenging and charged the federal government to urgently undertake policy adjustments.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE lists capital market as viable funding source for SMEs

Nigerian Stock Exchange (NSE) has highlighted the capital raising opportunities in the stock market for Small and Medium Scale Enterprise, SMEs, in the country.
The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

IMF chief warns of “lost generation” if low-income countries don’t get more help

The head of the IMF on Friday urged advanced economies to provide more resources to low-income countries, warning of an emerging “Great Divergence” in global growth that could risk stability and trigger social unrest for years to come.
American Airlines says about 13,000 employees are at risk of furlough when a United States aid package for airline workers expires on April 1, blaming slow vaccine rollouts and new international travel restrictions for dampening demand.

American Airlines warns 13,000 staff of furloughs amid coronavirus pain

American Airlines says about 13,000 employees are at risk of furlough when a United States aid package for airline workers expires on April 1, blaming slow vaccine rollouts and new international travel restrictions for dampening demand.
The Nigerian Economic Summit Group (NESG) has confirmed that dialogue in national transformation at this year’s economic summit will focus on job creation, youth empowerment and entrepreneurship.

NESG: Nigerian economy to beat IMF growth forecast in 2021

The Nigerian Economic Summit Group has predicted a growth rate of 2.9 per cent for the Nigerian economy in 2021, higher than the 1.5 per cent growth rate suggested by the International Monetary Fund.
Debt Management Office (DMO)

DMO calls for investments in FGN Savings Bond

The Debt Management Office (DMO) on Monday called for investments in the Federal Government of Nigeria (FGN) Savings Bond with two-year tenure and three-year tenure.
Scheme allows Hong Kong residents with a BNO passport to live and work in the UK with a pathway to citizenship after five years.

Britain opens visa scheme for millions of Hong Kongers

A new visa scheme offering millions of Hong Kongers a pathway to British citizenship went live on Sunday as the city’s former colonial master opens its doors to those wanting to escape China’s crackdown on dissent.
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 invests N50 billion to revamp moribund commodity exchange

Following the approval of the President, the Central Bank of Nigeria (CBN), has concluded plan to invest N50b to revamp the ailing Nigerian Commodity Exchange.
An economist, Ms Razia Khan, also Managing Director-Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.

2021 Outlook: Nigeria will record positive GDP growth – economist

An economist, Ms Razia Khan, also Managing Director/Chief Economist, Africa and Middle East, Global Research, Standard Chartered Bank, on Tuesday said Nigeria would see a restoration of positive growth.

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Gov. David Umahi of Ebonyi has pledged to abide by the peace pact he made with political opponents in the Peoples Democratic Party (PDP).

Ebonyi government raises panel on release of ‘warlords’

The Ebonyi State government yesterday set up a panel of inquiry over the unauthorized release of 55 suspected warlords who were arrested in Effuim in Ohaukwu local government area of the state in the lingering communal clash between Effuim and Ezza Effuim communities.

NMA: Zamfara government lied on linkage of medical doctor to bandits

This is contained in a statement signed in Gusau on Friday by the association’s state Chairman and Secretary, Dr Mannir Bature and Dr Remigius Nwachukwu.
The highly infectious variant of the novel coronavirus that is predominant in the United Kingdom may be up to 70 percent more deadly than previous strains, according to a report by the government’s scientific advisers.

Nigeria records 67 new coronavirus infections, no fatalities

The Nigeria Centre for Disease Control (NCDC) has recorded 67 new cases of COVID-19, bringing the total number of infections in the country to 164,147 with 154,304 recoveries.
Kaduna state government has said further checks in the wake of the attack by armed bandits on the Federal College of Forestry Mechanization, Afaka, Igabi LGA indicated that 39 students are currently unaccounted for.

Official: Kaduna government won’t join issues with abducted students’ parents

The Kaduna State Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan, said on Friday that the state government shared the pains of the abducted students of the Federal College of Forestry Mechanization, Afaka in Igabi Local Government Area of the state.
Peru’s Congress on Friday voted to ban former president Martin Vizcarra, implicated in a scandal over Covid-19 vaccinations, from holding public office for 10 years.

Peru’s ex-president banned from public office

Peru’s Congress on Friday voted to ban former president Martin Vizcarra, implicated in a scandal over Covid-19 vaccinations, from holding public office for 10 years.

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The Federal Capital Territory Administration (FCTA) announced yesterday that it would be reintroducing the park and pay policy in the Federal Capital Territory (FCT), from May 1, 2021.

Minister: FCTA will increase access to agricultural inputs

The Federal Capital Territory Administration (FCTA) has put in place an Input Support Initiative strategy aimed at increasing access to critical agricultural inputs to support all year farming in Abuja.
Kano State Commissioner for Health, Dr Aminu Ibrahim Tsanyawa, who disclosed the latest mortality figure in a video message to the residents of the state, stated that so far 400 patents have been admitted in different medical facilities in the state on account of complications associated with the drink.

Kano: Death toll from poisoned juice drink rises to 10

The Kano State Government has confirmed that the death of 10 people as a result of the consumption of substandard juice drinks in the state.
FILE PHOTO: South Korea's Prime Minister Chung Sye-kyun speaks during an interview with Reuters in Seoul, South Korea, January 28, 2021. REUTERS/Heo Ran

South Korean premier arrives in Iran to help try to revive nuclear deal

South Korean Prime Minister Chung Sye-kyun arrived in Iran on Sunday to help try to restore a 2015 nuclear deal between Iran and world powers and free up $7 billion in Iranian funds trapped in South Korea, Seoul officials said.
Minister of youth and sports development, Sunday Dare (2nd right); executive director, Aron Nigeria Limited, Adeniyi Adesoji (right) and others assessing the level of work done so far on the rehabilitation of the main bowl pitch of Moshood Abiola Stadium in Abuja yesterday.

Minister charges contractor to hasten rehabilitation of Moshood Abiola stadium

The minister of youth and sports development, Chief Sunday Dare, has charged the contractor handling the rehabilitation of the main bowl pitch and other component facilities of the Moshood Abiola National Stadium in Abuja to speed up the pace of work.
Over 9000 candidates are jostling for 4000 admission slots in Yusuf Maitama Sule University Kano (YUMSUK) for the 2020-2021 academic session.

NUC approves Kano university’s postgraduate school

The National Universities Commission (NUC) has approved the establishment of a Postgraduate School and the commencement of 34 postgraduate programmes in Yusuf Maitama Sule University, Kano.