Daily News
THE SUN
CBN Releases Framework to Ensure Safety, Stability of Financial System
The Central Bank of Nigeria (CBN) has released the Framework for Regulatory Sandbox Operations, to ensure the safety and stability of the Nigerian Financial System, among other things. It is also to promote the use and adoption of electronic payments and foster innovation in the payments system. The CBN released the structure on its website on Tuesday and says one of the objectives… Read More
PUNCH
2021 Lockdowns Threaten to Slow Q1 Earnings Recovery
A major chunk of the recovery in companies’ earnings expected in the first quarter is at risk of being pushed back further as lockdowns and mobility restrictions in several countries cloud hopes of a swifter economic recovery, investment banks said. China announced lockdowns in four cities and European countries unveiled tighter and longer coronavirus restrictions on Wednesday, denting… Read More
CBN Procedures Creating Bottlenecks for Exports – Exporters
The pre-export requirements recently introduced by the Central Bank of Nigeria is currently frustrating the export of goods from Nigeria to other nations, exporters declared on Wednesday. Speaking under the aegis of the Network of Practicing Non-oil Exporters of Nigeria, they stated that the electronic Nigeria Export Proceed Form being required by the bank from exporters had come… Read More
GUARDIAN
NNPC Cautiously Hopeful About Oil Demand Recovery, Deepens Gas Development
The Nigerian National Petroleum Corporation (NNPC) has expressed cautious optimism about oil demand growth, adding that it had begun the process to diversify its portfolio beyond oil assets to hedge future crisis and align with global energy transition. The oil firm noted that the country’s huge unharnessed gas resources as well as condensate could provide additional revenue that… Read More
PUNCH
Federal Government Disburses Another N123.34bn Grants to States
The Federal Government has disbursed another round of performance-based grants to states in the sum of N123.348bn ($324.6m) under its States Fiscal Transparency Accountability and Sustainability Programme for Results. Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this in a statement issued in Abuja on Wednesday by the ministry’s Director of Press… Read More
THE SUN
Naira Slumps N473/$ at Parallel Market
The Naira exchanged 473/$ at the parallel market on Tuesday, according to the foreign exchange (forex market) operators. The naira also suffered similar setback at the Investors and Exporters (I & E) window. According to Bureau De Change (BDC) operators figures, the naira exchanged to the dollar for 473/$ at the parallel market. It had earlier gained in recent times after it closed the year 2020… Read More
THIS DAY
Report Foresees 13.5% Monetary Policy Rate for Nigeria in 2021
Nigeria’s benchmark Monetary Policy Rate (MPR) has been predicted to rise by 200 basis points to 13.5 per cent in 2021, up from the 11.5 per cent it is presently. Bloomberg Economics made the prediction in the media outfit’s quarterly guide titled: “Ultra-Low Interest Rates Are Here to Stay: 2021 Central Bank Guide,” obtained yesterday. It pointed out that the Central Bank of Nigeria (CBN) has been… Read More
PUNCH
#EndSARS: Court Stops Suit Against Sam Adeyemi, Davido, Others
A High Court in the Federal Capital Territory has ordered a Magistrate, Omolola Akindele, to immediately halt proceedings and stay action in a criminal complaint filed by one Kenechukwu Okeke, against 50 persons who supported the #EndSARS protests. Justice Bello Kawu also restrained the Nigeria Police Force from arresting or taking any action against the #EndSARS activists… Read More
GUARDIAN
ASUU, SSANU Differ on Reopening of Varsities
As schools prepare to reopen on Monday, the Academic Staff Union of Universities (ASUU) has expressed doubts over institutions’ readiness to resume. But the Senior Staff Association of Nigerian Universities (SSANU), while faulting ASUU’s position said all stakeholders, including the unions, governing councils and government have a moral burden to ensure that universities… Read More