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Agricultural financing

Financing the Agriculture sector

SEC ha expressed worry that credit to agriculture sector in the last 10 years remains as low as 5%, severely hampering the sector’s growth.
Nigeria’s real estate industry attracts foreign investors, Real Estate: Still not out of the woods

Real Estate: Still not out of the woods

The latest GDP report for 2019 revealed that the real estate sector posted a negative growth of 2.36% albeit lower than the negative 4.74% reported in 2018.
Unemployment: Senate calls for a state of emergency, President Buhari approves N37 billion for National Assembly renovation , National Assembly finally transmits Finance Bill after supremacy battle among lawmakers, VAT: Implementation won’t affect purchasing power of Nigerians, PIB: An unsurmountable obstacle, Senate passes CAMA bill, awaits presidential assent, Ban on generators: Throwing the baby with the bath water?

Ban on generators: Throwing the baby with the bath water?

A bill for an act to criminalise the importation, selling and usage of generators in Nigeria scaled the first reading on the floor of the senate.
Driving tax revenue growth, FIRS retires coordinating directors, appoints new ones, COVID-19: FIRS grants concessions to taxpayers, outlines other measures

Driving tax revenue growth

According to FIRS boss, several multinationals within the country have failed to remit the required tax payment to the service by lying on their pioneer status.
Crude Oil price war threatens Nigeria's economic stability, Crude oil prices drop as the Saudis and Russia postpone their meeting

Oil price war threatens Nigeria’s economic stability

Global oil prices declined significantly late yesterday as news reports filtered into the market of an impending price war between Saudi Arabia and Russia.
CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele  , Increasing food prices might erase chances of CBN cutting interest rate   , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million  , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex)

Repositioning Microfinance banks to grow economy

CBN released an exposure draft guideline for the regulation and supervision of microfinance banks in Nigeria following a review of the 2012 guidelines.
Stanbic IBTC Holdings Plc, Stanbic IBTC increases shares to 10.4 billion , StanbicIBTC: Modest earnings despite frail Q4 performance, Stanbic IBTC Holdings to issue scrip dividend

StanbicIBTC: Modest earnings despite frail Q4 performance

Stanbic's AUDITED report shows no differences in the consolidated statement of profit or loss and the Consolidated statement of financial position.
Nigeria Crude Oil Prices, Nigeria wants international oil companies to pay up now , Trade conflict between United States, China continues to affect oil prices, Global oil prices rally to $69.16, as Soleimani killed in US air strike, Crude oil prices continue to rise on the backdrop of US-Iran tension, Coronavirus projected to affect crude oil demand negatively , Worry, as Coronavirus threat pushes oil price below budget benchmark, Coronavirus: FG to review budget as oil price plunges, BOOM: Crude oil price crash below $30 in worst trading day since 1930,Bears ravage Global market, Brent Oil surges 10% trading at $27.29 per barrel, Crude Oil up 10% as Brent crude raises to $27 per barrel

Coronavirus: FG to review budget as oil price plunges

FG has announced plans to review the 2020 budget as oil revenue comes under severe pressure following the impact of the coronavirus on oil price.
Boko Haram: A protracted battle yet to be won?    , Insecurity: On the rise again

Insecurity: On the rise again

The armed gang killed at least 50 people in attacks on villages in the northern Nigerian state of Kaduna on Sunday.
Coronation Merchant Bank appoints Banjo Adegbohungbe as Acting Managing Director, Coronation Merchant Bank partners with International Finance Corporation to provide funding for Nigerian businesses, IFC partners with Coronation Merchant Bank to boost trade finance in Nigeria, Coronation Merchant Bank appointed Customs Revenue Collecting Bank by the Nigeria Customs Service

IFC partners with Coronation Merchant Bank to boost trade finance in Nigeria

IFC today announced a $40 million Trade Finance Guarantee facility to Coronation Merchant Bank under its Global Trade Finance Program.

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Kwik Delivery,Kwik secures €2 million to scale up, as Gokada, Max enter delivery market

Kwik secures €2 million to scale up amidst competition from Gokada, Max, others

Lagos-based delivery startup Kwik has raised €2 million in the capital for its plans to scale up its business in Nigeria's economic capital.
Lafarge Africa Plc said it is sorry for helping bring Coronavirus into Nigeria. Lafarge Africa Plc announces retirement of two directors, appoints new ones

Lafarge Africa Plc announces retirement of two directors, appoints new ones

Lafarge Africa Plc has announced the retirement of two of its Non-Executive Directors, as well as the appointment of three new Directors.
Naira under pressure, as crude oil hits $25 per barrel, Oil Price: A dead cat bounce in the making?

Oil Price: A dead cat bounce in the making?

The International Energy Agency (IEA) in its latest forecast, expects Brent oil price to average US$33 this year.

FG slashes 2020 budget by N318 billion, sends to NASS

The Federal Government has slashed the 2020 budget by N318 billion and sent to the National Assembly.
Bill Gates Foundation, Mastercard, others fund research on hydroxychloroquine, chloroquine for COVID-19 cure

Bill Gates Foundation, Mastercard, others fund research on hydroxychloroquine, chloroquine for COVID-19 cure

One of the latest investments in the search for a vaccine for COVID-19 is $20 million from partners in the COVID-19 Therapeutics Accelerator.