The Lagos division of the Court of Appeal has asked Seplat Petroleum Development Company to raise a bond of $20 million as part of the conditions to unseal the corporate offices of the oil firm. In its ruling on an appeal filed against the interim order issued by a Federal High Court sealing the corporate […]
Read MoreBy Harrison Eromosele Everyone agrees that 2020 was a peculiar year. Economies across the globe experienced turbulent challenges due to the disruption caused by the outbreak of Covid-19. In Nigeria, following two consecutive quarters (Q2, 2020 and Q3, 2020) of negative growth, the National Bureau of Statistics (NBS) officially announced that the country’s economy technically […]
Read MoreBy Samuel Bankole Nigeria’s external reserves rose 2.35 percent year-to-date to $36.48 billion by January 20, 2021, the latest data from the Central Bank of Nigeria (CBN) showed. The country’s foreign exchange buffer closed at $35.37 billion by December 31, 2020, and opened on January 4 at $35.64 billion. The forex reserves were negatively impacted […]
Read MoreUS President Biden will issue an executive order on Friday aimed at assisting families struggling amid the pandemic and at helping workers stay safe on the job. Biden, who has vowed to use the power of the presidency to help mitigate economic fallout from the pandemic, will also direct the Treasury Department to find ways […]
Read MoreGhanian President Nana Addo Dankwa Akufo-Addo on Thursday sent the list of his ministerial nominees to the parliament as he cut back on the number of ministers to serve in his second term. The president has reduced the number of ministers to 85 from 126 to reflect his resolve to have a leaner government in […]
Read MoreQuestions have arisen over the constitutionality of former President Donald Trump’s impending trial in the Senate. Trump is the first president to be impeached twice and would be the first ex-president to have his impeachment tried in the Senate while out of office. House Democrats are expected to send the articles of impeachment to the Senate […]
Read MoreThe African Export-Import Bank has mobilized $1 billion for an adjustment facility to offset revenue losses for countries that lower cross-border tariffs as part of an Africa-wide free-trade area, according to the zone’s most senior official. “We will be able to go to global capital markets and we will be able to go to development […]
Read MoreBy Oludare Mayowa Nigeria has raised its expectations on income from both Stamp Duty and dividend from the Nigerian Liquified Natural Gas (NLNG), but lower revenue earnings from the Value Added Tax (VAT) in the 2021 spending estimate. The federal government is expecting that its share of NLNG dividends will rise to N208.54 billion at […]
Read MoreNigeria has earmarked N6.45 billion for the setting up of gas plants in 38 locations across the country as part of measures to enhance the treatment of Covid-19 patients who need oxygen. The Minister of Finance and budget, Zainab Ahmed, who revealed this at the first National Economic Council (NEC) meeting of the year said President […]
Read MoreNigeria expects to take delivery of its first coronavirus vaccine doses in February, with health workers, top government officials and vulnerable people to be given priority. The vaccines, which could be as many as 100,000 doses of Pfizer Inc.’s shot, will be procured through the Covax initiative backed by Gavi the Vaccine Alliance, the World […]
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