Air Peace delivers FG’s medical supplies from Turkey

The Federal Government has taken delivery of medical supplies from Istanbul, Turkey, to fight the coronavirus pandemic. The supplies were delivered by an Air Peace aircraft, a Boeing 777 with registration number, 5N-BWI, which arrived at the Nnamdi Azikiwe International Airport, Abuja on Saturday night. It was gathered that the flight left Nigeria early Saturday […]

Nigerian banks at severe risk from oil price slump, COVID-19 — Fitch Ratings

Nigerian banks’ credit profiles face severe risks resulting from the slump in oil price as well as the disruptions in operating environment due to the Coronavirus (COVID-19) pandemic, Fitch Ratings has said. The global fiscal and financial rating firm explained in a release yesterday that the banks’ asset quality deterioration is linked to high exposures […]

Nigeria: NSE Resumes April Trading With 0.94% Loss

Activities opened for the month of April on Wednesday still on a bearish trend, with a loss of 0.94 per cent. The News Agency of Nigeria (NAN) reports that the All-Share Index (ASI) dipped199.93 points or 0.94 per cent to close at 21,100.54, compared with 21,300.47 on Tuesday. Similarly, the market capitalisation declined by N104 […]

Nigeria reduces fuel price to N123.50 per litre

The Petroleum Products Pricing and Regulatory Agency has reduced the pump price of petrol to N123.50 per litre from the current price of N125. This comes about a fortnight after the agency reduced the pump price to N125 from N145. The reduction is based on the reduced landing cost of petrol into Nigeria which is caused by […]

Buyers dump Nigeria’s Crude despite cut in price

Nigeria’s Bonny Light is defying the price slash strategy intended to attract buyers just as refineries in India are adopting production cuts and European plans are contemplating shutdown. As the world awaits the biggest oil glut in history with the plan of Saudi-led OPEC+ to flood an already saturated market with 2.6 million barrels per day (bpd) […]

NairaWin: Introducing first Nigeria e-commerce, gaming platform

NairaWin is an innovative eCommerce platform, where Nigerians can bid as low as N100 and win products such as cars, smartphones, electronics, jewellery and others. Users can also win cash prizes. According to the Executive Director, VASCOM, a digital company providing value-added services, Olusegun Edu, said, “We discovered that an average Nigerian wants new things […]

CBN suspends forex sales to BDCs over pandemic

The Central Bank of Nigeria has granted a two- week market holidays to the Bureaux De Change operators. This followed a request by the Association of Bureaux De Change Operators of Nigeria to the CBN for the regulator to grant it market holidays given the ongoing challenges faced in local and global economies due to […]

France plans $4.3bn support package for start-ups

France is setting up a four billion-euro ($4.3bn) package to help the country’s start-ups survive the coronavirus pandemic and maintain cash levels between fundraising rounds. A report by Bloomberg on Thursday quoted Digital Minister Cedric O as saying on a radio programme on Wednesday, “Our goal is for start-ups to pass that crisis and then […]

SEC cautions Nigerians against patronising illegal schemes

The Securities and Exchange Commission has warned Nigerians against patronising fund managers that are not registered with the commission. According to SEC, in recent times, it has observed the proliferation of the operation of unlawful/unlicensed investment schemes, with promises of huge, but unjustifiable returns on investment It stated, “These activities are perpetrated by suspected promoters […]