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Uche Uwaleke

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.

Experts laud extension of CBN Naira4Dollar scheme

Experts on Thursday commended the Central Bank of Nigeria (CBN) for extending the Naira4Dollar scheme expected to close on May 8.
In a demonstration to tackle the menace of ghost workers that has continue to drain the coffers of government, Bauchi State Governor, Sen Bala Abdulkadir Mohammed will hold a public parley with all the stakeholders involved in the payment of workers salaries in the state.

Bauchi governor faults NNPC zero remittance to FAAC

Bauchi State Governor, Senator Bala Mohammed, yesterday warned that Nigeria will be in chaos and financial hardship if the NNPC does not rethink its decision to make zero remittance to the Federation Account in April because of the need to defray the cost of petrol subsidy.
The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar.

Exiting recession not enough to guarantee economic recovery – analysts

While the slight improvement in Gross Domestic Product (GDP) recorded in Q4 is good news, analysts say it is not significant enough to mark economic recovery.
Nigeria Naira

Economic expert: Key lessons learnt from exiting recession

Economic expert, Prof Uche Uwaleke has listed four major lessons to be learnt from National Bureau of Statistics (NBS) report which stated that Nigeria has exited the current economic recession.
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.

Economic experts proffer solutions to funding budget deficit

Economic experts have proffered various means of funding N5.23 trillion 2021 budget deficit other than the ways and means that the International Monetary Fund, IMF, has cautioned the Central Bank of Nigeria, CBN, from adopting.
FILE PHOTO - Oil pours out of a spout from Edwin Drake's original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania U.S., October 5, 2017. REUTERS-Brendan McDermid

Analysts foresee faster economic recovery as oil price hits $60

Analysts yesterday forecasted a faster economic recovery for Nigeria as crude oil prices, at $60 per barrel, hit a new high since February 2020.
Nigeria Naira

Economist backs Nigerian government’s plan to borrow from unclaimed dividends

Nigeria’s first Professor of Capital Market, Professor Uche Uwaleke, has said there is nothing wrong with Federal Government’s plan to borrow N895 billion from unclaimed dividends and dormant deposits in bank accounts.
The partial closure of Nigeria’s land border with neighbours will continue beyond January 2020 and will only be terminated until the set objectives are achieved.

Experts: Border reopening will make us competitive

Hajia Zainab Ahmed, Minister of Finance, Budget and National Plan­ning, disclosed that President Bu­hari approved the reopening of the borders while briefing State House correspondents after the Federal Executive Council (FEC) meeting on Wednesday at the Presidential Villa, Abuja.
President Buhari has assured that his administration will look into the 12-point recommendations by graduates of National Institute for Policy and Strategic Studies (NIPSS) on Population Growth and Human Capital Development in Nigeria.

Nigerian government urged to tackle insecurity, reopen borders to tame inflation

Analysts and members of the organised private sector yesterday urged the federal government to step up efforts in tackling insecurity and ramping up measures to ensure food security amidst mounting inflationary pressures.
Director General of the SEC, Mr. Lamido Yuguda, stated this on Tuesday at a Webinar organised by the Nigerian Stock Exchange (NSE), in collaboration with the Nigeria Governors’ Forum (NGF) and the Nigerian Investment Promotion Council (NIPC) with the theme: Privatisation in Nigeria and the Outlook for Subnational Economic Development.

SEC decries low participation of retail investors, moves to attract more

The Securities and Exchange Commission (SEC) says it has intensified efforts to attract more retail investors into the nation’s capital market.

MAN, LCCI others blame recession on coronavirus, #EndSARS crisis

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.

Recession: Financial expert seeks aggressive implementation of ESP

Uche Uwaleke, Professor of Finance and Capital Market, has called for early passage of the 2021 Appropriation Bill and aggressive implementation of the Economic Sustainability Plan (ESP), as the country enters recession.
President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.

Nigeria’s inflation hits 14.23 percent in October

Nigeria’s inflation climbed to 14.23 percent in October, 2020 according to National Bureau of Statistics (NBS) report on consumer price index, released on Monday.Nigeria’s inflation climbed to 14.23 percent in October, 2020 according to National Bureau of Statistics (NBS) report on consumer price index, released on Monday.
#EndSARS protests

#EndSARS: Economy loses N54 billion daily under curfew – bank

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.

TUC, others reject new fuel price, as petrol stations adjust pump

Petrol stations across the country, yesterday, adjusted their pumps to reflect the hike in the ex-depot price of the Premium Motor Spirit, PMS, by the Petroleum Products Marketing Company, PPMC, with some of the stations raising the price to as high as N161 per litre.
Nigeria Labour Congress (NLC)

NLC rejects hike in fuel price as marketers sell for N161

The Nigeria Labour Congress has rejected the increase in price of Premium Motor Spirit, also known as petrol, from N148.50 per liter to N151.56 per litre.
Zainab Ahmed

Nigeria’s recession will be short-lived – minister

This came as the Federal Government, yesterday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact of the Coronavirus (COVID-19) pandemic on the economy, there is the possibility that the third quarter, 2020 (Q3’20) Gross Domestic Product, GDP, growth rate will be negative, while the economy will relapse into a recession.

Petrol price hike a move to end subsidy regime – expert

Nigeria’s first professor of the Capital Market and former Imo State Finance Commissioner, Prof Uche Uwaleke, on Wednesday described the hike in petrol price from N123.50k/litre to a price band of N140.80 to N143.80 as an indication that the Federal Government was ready to gradually exit the fuel subsidy regime.
He is Mr Lamido Yuguda whose appointment was announced by President Muhammadu Buhari in a letter sent to the Senate on Tuesday requesting the confirmation of Yuguda as the Director General of the Commission.

Capital market expert sets agenda for new SEC chief

Barring any last minute hitches, a substantive Director General will soon assume duty at the Securities and Exchange Commission (SEC), ending Ms Mary Uduk’s more than two years tenure in acting capacity.
NECA’s Director-General, Mr Timothy Olawale, who made the call on Tuesday in Lagos, called for more specific and direct business sustainability schemes, to save the private sector.

2020 budget: OPS backs proposed $20 oil price benchmark

Members of the organised private sector (OPS) and some analysts have hailed the plan by the federal government to further review downward the oil price benchmark in the 2020 budget to $20 per barrel.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

Experts: How Nigeria’s stock market will survive coronavirus pandemic

Some experts are optimistic that the capital market would recover from the devastating effect of the COVID-19 pandemic and rebound in 2021.

Coronavirus: Mixed reactions trail central bank’s policy measures

Mixed reactions have trailed policy measures announced by the Central Bank of Nigeria (CBN) to tackle the effect of COVID-19 on the nation’s economy.

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Nine days after he escaped and his house burnt, the Nigeria Army has arrested the late Ikonso’s second in command in Imo state, of the Indigenous People of Biafra, IPOB/Eastern Security Network, ESN, a 48-year-old man, whose name was given as Anwurum Eze popularly known as “Maputo”.

Imo attacks: Special forces trailing Ikonso, Maputo’s boys

Nine days after he escaped and his house burnt, the Nigeria Army has arrested the late Ikonso’s second in command in Imo state, of the Indigenous People of Biafra, IPOB/Eastern Security Network, ESN, a 48-year-old man, whose name was given as Anwurum Eze popularly known as “Maputo”.

UK, US, France, others to support Boko Haram victims with £276 million

The Group of Seven (G7) is an intergovernmental organization consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
1. President Muhammadu Buhari is presiding over the 44th virtual meeting of the Federal Executive Council (FEC).

President Buhari: We’ll resist bandits’ threat to disrupt food production

President Muhammadu Buhari has stressed the readiness of his administration to vehemently resist the threat by bandits to disrupt food production in the coming growing season.
Kidnap

Abductors of Deeper Life Pastor demand N30 million ransom

The abductors of a Deeper Life Bible Church Pastor, Otamayomi Ogedengbe in Ondo State have made contact with his family.
The contact, as at Wednesday, have spent thirteen days in the isolation center and, according to the State Health Commissioner, Tomi Coker, they will soon be declared free of the virus.

Ogun assures residents of quality health care

Ogun State Government on Thursday assured residents of qualitative health care delivery, in spite of the dwindling revenue occasioned by the effect of the COVID-19 pandemic.

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PDP demands minister’s sack over ‘lootings’ in NPA, NDDC

The Peoples Democratic Party (PDP) yesterday demanded the immediate sack, investigation and prosecution of the Minister of Transportation, Rotimi Amaechi, as well as the suspended Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, over the recent alleged looting of over N165billions in the agency.
Manchester United executive co-chairman Joel Glazer has promised the board will become “better listeners” in light of recent supporter protests.

Joel Glazer writes open letter to Manchester United supporters

Last weekend’s Premier League clash with Liverpool had to be postponed due to protests in and around Old Trafford against the Glazer family’s ownership of the club and their recent involvement in plans for a European Super League.

NDIC, CIBN partner to improve banking professionalism

The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has stressed the need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and professionalism in the banking industry.
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.

NCDC: Rapid mutations, new changes escalating coronavirus cases

The Nigeria Center for Disease Control (NCDC) has said the rapid mutations and new changes of novel Coronavirus (COVID-19) have led to escalation of cases in many countries.
Voters in an opposition stronghold turned en masse to British Prime Minister Boris Johnson's Conservatives, boosting his parliamentary majority on Friday despite a high COVID-19 death toll, last year's record economic slump and cronyism charges.

Voters flock to British premier’s party as Labour loses northeast stronghold

Voters in an opposition stronghold turned en masse to British Prime Minister Boris Johnson's Conservatives, boosting his parliamentary majority on Friday despite a high COVID-19 death toll, last year's record economic slump and cronyism charges.