Business

IMF Approves US$4.3 Billion Emergency Support to South Africa For COVID-19 Response

……The COVID-19 outbreak is leading to a sharp economic contraction and significant financing needs in South Africa. The IMF approved US$4.3 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the challenging health situation and severe economic impact of the COVID-19 shock. Once the pandemic is behind, […]

Business

Magu Did Not Steal NNPC Funds, Says Lawyer

The legal team of the suspended Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has been responding to some of the allegations against him especially those bothering on the alleged diversion of funds recovered by the Commission. Mr Magu’s lawyer, Wahab Shittu in a statement to Channels Television said the EFCC […]

Business

Temporary Basic Income to protect the world’s poorest people could slow the surge in COVID-19 cases, says UNDP

The immediate introduction of aTemporary Basic Income for the world’s poorest people could slow the current surge in COVID-19 cases by enabling nearly three billion people to stay at home, according to a United Nations Development Programme (UNDP) report released today. The report, Temporary Basic Income: Protecting Poor and Vulnerable People in Developing Countries estimates […]

Business

CBN releases N50 billion to resuscitate textile industry

By Foster Obi Central  Bank  of  Nigeria (CBN) has released  a N50  billion special  mechanism  for  restructuring of  existing facilities  and  provision  of  further  facilities in a  bid  to resuscitate  the  Textiles  Industry CBN said on its website Tuesday that this  was  the  result  of  the  meetings held between  the Governor  and  owners  of  textile  […]

Business

NCC introduces framework to promote transparent financial reporting in telecoms industry

…New framework will deepen industry competition, says Danbatta By Foster Obi Nigerian Communications Commissions (NCC) says it is committed to the creation of an enabling environment for competition among operators in the industry to ensure the provision of qualitative and efficient telecoms services as stipulated in Nigerian Communications Act (NCA), 2003. A statement signed by […]