Nigeria has appointed local banks to issue 3.4 trillion naira of promissory notes that will go to settle a backlog of state obligations, the finance minister said on Wednesday. Zainab Ahmed presented a memo to cabinet on Wednesday seeking approval for the notes, which she said would help revive an economy that has faced low […]
Author: Isaac Umunna
NBA to invest millions of dollars in new African league
The National Basketball Association, NBA will invest millions of dollars in Basketball Africa League, its first professional league outside of North America, and will be hands-on in its operation, a top executive said on Tuesday. The NBA, in partnership with the International Basketball Federation (FIBA), is launching the Basketball Africa League in January 2020, featuring […]
Nigeria: FIRS Boss expects to raise $2.45 billion from defaulters by end H1 2019
Nigeria expects to raise around 750 billion naira ($2.45 billion) from tax defaulters by the end of the first half of this year, the country’s tax chief said on Tuesday. The OPEC member, which has Africa’s largest economy, in 2017 emerged from a recession brought on by low oil prices and authorities have in the […]
JAMB releases results of 2019 Mock UTME
The results of about 50,000 candidates who took part in the mock Unified Tertiary Matriculation Examination conducted by the Joint Admissions and Matriculation Board (JAMB) have been released on Tuesday evening. Disclosing this in a telephone interview with PREMIUM TIMES, the head of Media and Public Relations unit of the examination body, Fabian Benjamin, said […]
Two-thirds of world’s hungriest people live in Nigeria, seven other countries – UN
No fewer than 113 million people experienced high levels of food insecurity in the world’s most severe food crises in 2018, the Global Report on Food Crisis 2019 has found. The report, which was released on Wednesday in Brussels, warned that these food crises were primarily driven by conflict and climate-related disasters. One of the […]
Transport Minister praises NPA for establishing Harbour Simulation Centre Apapa
By Foster Obi Minister of Transportation, Rotimi Chibuike Ameachi has lauded the Management of the Nigerian Ports Authority (NPA) at the establishment of an Ultra-Modern Marine and Harbour Simulation Centre at Dockyard Apapa. A press statement signed by Engr. A. A. Jatto, NPA’s General Manager, Corporate & Strategic Communications said while addressing stakeholders at the […]
NSC orders freight forwarders to ignore unauthorized police at ports
By Foster Obi The Nigerian Shippers’ Council (NSC) has ordered freight forwarders operating at the nation’s seaports to ignore unauthorized policemen that are involved in illegal interception of already cargoes. The Executive Secretary and Chief Executive Officer of the Council, Mr. Hassan Bello gave the order when the Maritime Police Command led by AIG Abdul […]
CBN’s collateral registry generates N1.2 trillion loans in two years
Central Bank of Nigeria (CBN)’s National Collateral Registry (NCR) has generated N1.264 trillion credit to the micro, small and medium enterprises (MSMEs) and individuals in the nation’s economy within two years, its Registrar, Mohammed Mainasara, has said. The NCR, a creation of the apex bank’s Development Finance Department in collaboration with the International Finance Corporation […]
BudgIT, experts renew call for end to N10tr fuel subsidy
The assessed wastes and costs to the economy, associated with the 13-year old fuel subsidy regime operated by the Federal Government have irked economic analysts, who now renew calls for its end. The situation, described as detrimental to socio-economic developments, has seen the country spend no less than N10 trillion on petrol import subsidy between […]
Stock Market: Investors lose N158bn in March as market slumps by N48bn
The market, which opened the month at 31,721.76 basis points with a market capitalisation of N11.830bn, rose to its highest point on March 5 at 32,173.66bps with a market capitalisation of N11.998tn. It, however, closed at 31,041.42bps with a market capitalisation of N11.672tn on March 29, the last trading day of the month. The analysis […]