The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, has announced debt service relief for 25 poor countries. The MD in a statement, last night, in Washington, said that the debt relief was to enable the affected countries to better tackle the COVID-19 pandemic. The countries were: Afghanistan, Benin, Burkina Faso, Central […]
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The Federal Government of Nigeria has slashed the 2020 budget from N10.594 trillion to N10.276 trillion in view of global economic decline as a result of the COVID-19 pandemic. The amended budget has been sent to the National Assembly for consideration. In the budget the oil benchmark was also reduced from 57 dollars per barrel […]
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The Jack Ma Foundation announced today it has officially launched the second edition of the “Africa’s Business Heroes” (ABH) prize competition with applications now open to African entrepreneurs from all 54 African countries, as well as every sector, age group, and gender. Applications will also now be available in both French and English. The ABH […]
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The Nigerian Electricity Regulatory Commission (NERC) says there will be a 3-month delay in the implementation of any electricity tariff. Minister of Power, Mr Sale Mamman made this known in a statement in Abuja on Tuesday. Mamman said that the delay in the implementation of the tarrif was one of several critical actions that the […]
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The Petroleum Products Pricing and Regulatory Agency (PPPRA) has reduced the pump price of petrol from the current price of N125 to N123.50 per litre. 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 […]
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NOVA Merchant Bank has announced a donation of various relief materials to the vulnerable sector in Lagos. This is in response to the fight against the Coronavirus (COVID-19) pandemic. The provision will support the drive to limit the spread of COVID-19 in Nigeria. Beneficiaries of this intervention include: Pacelli School of the Blind, Surulere Lagos. […]
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The Mike Adenuga Foundation (MAF), established by business mogul, Dr. Mike Adenuga Jr., has donated the sum of N1.5 billion to support Nigeria’s fight against the global Coronavirus pandemic, otherwise known as COVID-19. Giving the breakdown of the N1.5 billion donation, the Foundation said that “N1billion will go to the Central Bank of Nigeria (CBN) […]
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President Muhammadu Buhari has given directive for the protection of staff salaries, pensions of retirees and statutory transfer in spite the challenge posed by COVID-19 that has affected the economy. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this when she appeared as a guest on Channels Television “Politics Today” programme […]
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HP and Nigerian authorities have successfully obstructed over 20 illicit trading operations for fraudulent HP printer cartridges across the country. Between September and October 2019, Nigerian authorities raided around two dozen illicit trading operations in Lagos, Niger and Plateau. As a result of the action, law enforcement personnel were able to confiscate approximately 25,000 counterfeit […]
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United Bank for Africa Plc (UBA) on Thursday announced a donation of over 5 billion Naira (USD14 million), through the UBA Foundation, to catalyse a comprehensive pan-African response to the fight against the coronavirus (COVID-19) global pandemic. The donation will provide significant and much needed support to Nigeria and 19 other African countries, by supplying […]
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