ICPC probes PENCOM over N9bn spent as salary on 386 staff

Independent Corrupt Practices and Other Related Offences Commission, ICPC, is probing acting Director-General of the National Pension Commission (PenCom Aisha  Dahir Umar for alleged misappropriation of...

Banking stocks drag Nigerian Stock market performance… ASI down 0.01%

Trading activities on the local bourse resumed the week negative with a 1bp marginal decline in the All-Share Index  to close at 22,920.41 points, due to sell...

 African Development Bank denies claims it plans to provide financial support to East African Crude Oil Pipeline Project

African Development Bank has denied claims that the institution plans to provide financial support to the East African Crude Oil Pipeline Project. The Bank in a...

List of Contributors to the CACOVID Relief Fund As At Friday, April 17, 2020

IMF/WB Development Committee backs G20 debt service suspension initiative, Nigeria makes case for IDA

Minister of finance Zainab Ahmed said a debt relief agreement reached at the ongoing IMF/World Bank Group virtual Spring Meetings to help the world’s poorest countries...

“We expect COVID-19-related projects in 100 countries by end of April— David Malpass

World Bank Group President David Malpasshas said that the multilateral institution expects to have COVID-19 projects in 100 countries before the end of April 2020. Delivering...

The Bullish trend continues at Nigerian Stock market as investors gain ₦7.8bn

Today, the local bourse sustained its uptrend, advancing 7bps to close at 22,554.84 points following gains in MTNN (+3.6%), NESTLE (+10.0%) and DANGCEM (+2.2%). Consequently, market capitalisation was up ₦7.8bn  to settle...

CBN develops, short, medium, long term measures to insulate economy from covid-19 induced recession—Emefiele

Central Bank Governor Mr. Godwin Emefiele said the CBN has developed a short, medium and long term Policy Response Timeline to guide the apex bank crises...

Sub-Saharan Africa M&A transactions totalled $4.8 bn in Q1 2020

Refinitiv 2020 first quarter investment banking analysis for Sub-Saharan Africa showed that investment banking fees in the region reached an estimated $128.2 million during the first...

COVID-19 crisis may reverse gains, weigh on growth for years in Africa—IMF

International Monetary Fund IMF has said that Sub-Saharan Africa is facing an unprecedented health and economic crisis. The IMF in its  Regional Economic Outlook for Sub-Sahara...

Trump’s move to cut WHO funding prompts world condemnation

U.S. President Donald Trump’s move to halt funding to the World Health Organization over its handling of the coronavirus pandemic prompted condemnation on Wednesday from world...

Bargain hunting persists at Nigerian Stock market as ASI up 3.0%

In today’s trade, the bulls held on to gains as the local bourse advanced 302bps to close at 22,539.94 points due to price appreciation in DANGCEM (+10.0%), ZENITH (+9.7%) and GUARANTY (+7.1%)....

Ecobank urges Nigerians to embrace instant account opening with EcobankMobile *326#

Ecobank Nigeria is encouraging unbanked and underbanked Nigerians which include artisans such as  mechanics, carpenters, electricians, small scale retailers, transporters and others who depend on daily...

IMF recommends protect lives, livelihoods, plan for recovery as COVID-19 economic policy measures

Managing Director International Monetary Fund IMF has recommended three policy measures needed to overcome the damage done by coronavirus to the global economy. In her virtual...

IMF projects a negative growth for Nigeria, sub-Saharan Africa in 2020

By Omoh Gabriel The IMF has that Nigeria economy will drop by 3.4 per cent thus plunging it into another round of recession. The multilateral financial...