Why We Banned Cryptocurrencies – CBN

BusinessEconomyNewsWhy We Banned Cryptocurrencies – CBN

Beloved John (Staff Writer)February 8, 2021

The Central Bank of Nigeria named terrorism and money laundering as the rationale behind the ban of cryptocurrency-related transactions in Nigeria. In a statement released on Sunday, Osita Nwanisobi, Acting Director, Corporate Communications said the use of cryptocurrencies in Nigeria is a direct contravention of existing law. The decision has sparked outrage from mostly young people in a country that is the world’s second-biggest user of virtual currencies like Bitcoins. “The use of cryptocurrencies in...

CONTINUE READING
U.S. Endorses Okonjo-Iweala for DG WTO, Promises Her Its Supports

BusinessEconomyWorld NewsU.S. Endorses Okonjo-Iweala for DG WTO, Promises Her Its Supports

Bada Yusuf Amoo (Correspondent)February 6, 2021

The United States (U.S.) has commended Nigerian financial expert, Dr. Ngozi Okonjo-Iweala, for her desire to contribute her wealth of knowledge to the development of the World Trade Organization (WTO) as it salutes the decision of the Republic of Korea’s Trade Minister, Yoo Myung-hee to withdraw her candidacy for Director-General of the (WTO). This endorsement and salutation were contained in a statement released by the United State Trade Representative (USTR) Public and Media Affairs, in...

CONTINUE READING
Maritime Transport Policy to Unlock Nigeria’s Blue economy – NPA MD

EconomyInfrastructureNewsNigeriaMaritime Transport Policy to Unlock Nigeria’s Blue economy – NPA MD

PilotnewsJanuary 31, 2021

LAGOS —  Hadiza Bala-Usman, Managing Director, Nigerian Ports Authority (NPA), has identified the National Maritime Transport Policy as key to unlocking the huge potential and vast opportunities in the nation’s blue economy. Bala-Usman said this in a statement Ibrahim Nasiru, NPA Assistant General Manager, Corporate and Strategic Communications, issued to newsmen on Sunday in Lagos. According to her, a well-articulated National Maritime Transport Policy will support local content development and create good value jobs. She...

CONTINUE READING
We Have Nothing to Hide in 2021 Budget – Buhari

EconomyNewsNigeriaWe Have Nothing to Hide in 2021 Budget – Buhari

Bada Yusuf Amoo (Correspondent)January 30, 2021

President Muhammadu Buhari on Saturday said the balance sheet of the country is open for the National Assembly and all Nigerians. Adding that his administration has nothing to hide. In a statement signed by his Senior Special Assistant on Media and Publicity, Gerba Shehu, Buhari spoke during an interview with journalists in Daura, Katsina State, after he performed the registration and revalidation exercise of the All Progressives Congress. The statement was titled “We have nothing...

CONTINUE READING
Trading Rebounds On NSE, Up N50bn

EconomyInvestingNewsNigeriaTrading Rebounds On NSE, Up N50bn

PilotnewsJanuary 20, 2021

Transactions on the Nigerian Stock Exchange (NSE) rebounded on Wednesday by N50 billion, halting two consecutive days bearish trend due to sustained bargain-hunting in insurance stocks. The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N21.474 trillion inched higher by N50 billion or 0.23 per cent to close at N21.524 trillion. Also, the All-Share Index increased by 96.09 points or 0.23 per cent to close at 41,147.72 against 41,051.63 points...

CONTINUE READING
S. Africa Records Lowest Inflation in 16 years

AfricaEconomyNewsS. Africa Records Lowest Inflation in 16 years

PilotnewsJanuary 20, 2021

South Africa’s annual Consumer Price Index (CPI) for 2020 was at 3.3 per cent, the lowest inflation recorded since 2004, Statistics South Africa (Stats SA) said on Wednesday. Stats SA attributed food and non-alcoholic beverages as the main drivers of inflation in December with a monthly increase of 0.5 per cent and an annual rise of 6.0 per cent. This was up from November’s annual reading of 5.8 per cent. “Meat prices rose by 7.3...

CONTINUE READING
Nigeria’s Inflation Hits 15.75%

EconomyNewsNigeriaNigeria’s Inflation Hits 15.75%

Beloved John (Staff Writer)January 15, 2021

A report by the National Bureau Statistics (NBS) has shown that there’s an increase in the Consumer Price Index (CPI) which measures inflation. The CPI increased by 15.75 per cent (year-on-year) in December 2020, 0.86 per cent points higher than the rate recorded in the previous month (November) according to the monthly report which was released on Friday. CPI measures the changes in the purchasing power of a country’s currency, the price level of a...

CONTINUE READING
FG to Give N20,000 Cash Grant to 160,000 Poor, Vulnerable Rural Women — Minister

CoronavirusEconomyNewsNigeriaFG to Give N20,000 Cash Grant to 160,000 Poor, Vulnerable Rural Women — Minister

PilotnewsJanuary 14, 2021

The Federal Government is targeting over 160,000 poor and vulnerable rural women, to benefit from the N20,000 cash grant, across the country to cushion the effects of COVID-19 pandemic. The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar-Faruk, made the disclosure at the launch of the grant, on Wednesday, in Katsina, where 6,800 rural women would benefit. “We are targeting over 160,000 poor and vulnerable rural women in Nigeria for the...

CONTINUE READING

BusinessEconomyNewsNigeriaNigeria’s Public Debt Increased By N6.01trn in 2020 — Report

Beloved John (Staff Writer)January 14, 2021

Nigeria’s total public debt stock as of the third quarter of 2020 (Q3 2020) increased by N6.01 trillion according to the National Bureau of Statistics’ (NBS) Report. The report which focused on Nigeria’s Domestic and Foreign Debt Q3 2020, estimated the country’s total public debt stock constituting both external and domestic debts. The debts cumulatively stood at N32.22 trillion ($84.57 billion) as of September 2020. This represents a 22.93 percent increase when compared to N26.21...

CONTINUE READING
Lagos Govt. Pegs 2021 Budget at N1.164 trn

EconomyNewsNigeriaLagos Govt. Pegs 2021 Budget at N1.164 trn

PilotnewsJanuary 7, 2021

The Lagos State Year 2021 Appropriation Budget named ” Budget of Rekindled Hope”  has been pegged at  N1.164 trillion. Mr. Sam Egube, the Commissioner for Economic Planning and Budget, Lagos State, made the disclosure in Lagos on Thursday at a media briefing of the Year 2021 Analysis. Egube said that the budget was made up of  N702.93 billion and N460.58 billion for both capital expenditure and recurrent expenditure respectively. This, he explained, represented a 60:40...

CONTINUE READING

Newer Posts

Older Posts

WP2Social Auto Publish Powered By : XYZScripts.com