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Nigerian crude oil settles near FG benchmark

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President Tinubu renames University of Maiduguri to Muhammadu Buhari University

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Telecom operators raise alarm over rising vandalism threatening Nigeria’s digital economy

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Energy

How Geregu Power became one of the best performing power plants in Nigeria – Akin Akinfemiwa

June 26, 2020

The CEO explained how they achieved this success in an exclusive interview with Nairametrics.

New Airlines’ Emergence, Expansions Increase CA Surveillance Programme Costs, Says DG

Hospitality & Travel

FG to announce new flight resumption date next week, test runs 2 airports

by Chike Olisah

June 26, 2020

FG hopes to announce the date for resumption of domestic flight operations by next week.

Nigeria, others raise over $17bn from bonds, says World Bank

Financial Services

World Bank says Nigerian banks are at risk of being destabilised by COVID-19

by Emmanuel Abara Benson

Capital erosion and a possible resurgence in banks' non-performing loans are just some of the risks.

Google says it blocked 348 million ads in 2022 for violating its policies

Google to pay online publishers for high quality contents

by Ruth Okwumbu-Imafidon

Google will also offer to pay for free access for users to read paywalled articles on a publisher's site.

CBN, Aishah Ahmad, financial inclusion gender gap

Financial Services

CBN says 17 banks to restructure over 32,000 loans

Manufacturing and general commerce sectors constitute the bulk of the restructured facilities.

Macro weakness: Justification for cheap Nigerian stocks?, Google wants to start banking with you , Afreximbank bags $100 million credit facility The African Export-Import Bank (Afreximbank) has sealed an agreement with the International Islamic Trade Finance Corporation (ITFC) to receive a $100 million credit facility in order to promote Arab-Africa trade and investments. The signing which took place in Egypt at the Africa 2019: Investment in Africa Forum had the President of Afreximbank, Prof. Benedict Oramah, and Chief Executive Officer of ITFC, Hani Sombol in attendance on behalf of the two organisations. How the facility will be deployed: According to the agreement document as reported by Daily Trust, the facility would help finance and de-risk trade flows between the Arab and Africa regions, thereby raising the level of trade, which currently stands at about $500m. Speaking on the deal, Afreximbank said the pact will help in leveraging other Arabian funds in support of Arab investments in Africa. The bank also said the facility was part of the Afreximbank/ITFC Arab-Africa Trade and Investment Promotion Programme launched two years ago to deepen the partnership between them. Also present at the signing of the agreement in Egypt was the Egypt Prime Minister, Mostafa Madbouly, and Egypt’s Minister of Investment and International Cooperation, Dr. Sahar Nasr. What you should know: Afreximbank also recently signed an agreement to partner with South Africa-based Railway company, Thelo DB Proprietary Limited as reported by Nairametrics. The agreement which will benefit Nigeria and other African countries is for the purpose of developing, financing and operating railway projects in Africa. The Memorandum of Understanding (MoU) was signed between the two organisations on the sidelines of the ongoing Africa Investment Forum. The terms of the MoU, include Afreximbank and Thelo DB partnering to support the modernisation and renovation of Africa’s railways in different countries. By doing so, the organisations aim to promote trade, investment and economic skills development. Afreximbank bags $100 million credit facility The African Export-Import Bank (Afreximbank) has sealed an agreement with the International Islamic Trade Finance Corporation (ITFC) to receive a $100 million credit facility in order to promote Arab-Africa trade and investments. The signing which took place in Egypt at the Africa 2019: Investment in Africa Forum had the President of Afreximbank, Prof. Benedict Oramah, and Chief Executive Officer of ITFC, Hani Sombol in attendance on behalf of the two organisations. How the facility will be deployed: According to the agreement document as reported by Daily Trust, the facility would help finance and de-risk trade flows between the Arab and Africa regions, thereby raising the level of trade, which currently stands at about $500m. Speaking on the deal, Afreximbank said the pact will help in leveraging other Arabian funds in support of Arab investments in Africa. The bank also said the facility was part of the Afreximbank/ITFC Arab-Africa Trade and Investment Promotion Programme launched two years ago to deepen the partnership between them. Also present at the signing of the agreement in Egypt was the Egypt Prime Minister, Mostafa Madbouly, and Egypt’s Minister of Investment and International Cooperation, Dr. Sahar Nasr. What you should know: Afreximbank also recently signed an agreement to partner with South Africa-based Railway company, Thelo DB Proprietary Limited as reported by Nairametrics. The agreement which will benefit Nigeria and other African countries is for the purpose of developing, financing and operating railway projects in Africa. The Memorandum of Understanding (MoU) was signed between the two organisations on the sidelines of the ongoing Africa Investment Forum. The terms of the MoU, include Afreximbank and Thelo DB partnering to support the modernisation and renovation of Africa’s railways in different countries. By doing so, the organisations aim to promote trade, investment and economic skills development, Google is facing another probe for its $2.1 billion Fitbit acquisition

Google to auto-delete your data, location history, others

It will boost public trust after hefty fines were levied against Facebook and Google for privacy violations.

Nigeria misses out as World Bank lists countries with reforms on women empowerment

Energy

World Bank approves $750 million loan to Nigeria for power sector

by Chike Olisah

June 24, 2020

The World Bank noted that about 47% of Nigerians do not have access to grid electricity.

U.S stock futures trade flat, Apple regains $2 trillion market value, Apple iPhone 11, Tax battle: Apple challenges $14 billion court case , Apple to pay $500 million settlement in lawsuit over slow iPhones, Apple supplier Foxconn to reopen manufacturing base in China, Apple donates 10 million face masks to healthcare workers, App developers can now challenge Apple store guidelines

App developers can now challenge Apple store guidelines

by Ruth Okwumbu-Imafidon

June 24, 2020

Tim Cook stated that App developers can now challenge guidelines on the Apple store.

Hospitality & Travel

FG commences concession process of 4 International airports

June 24, 2020

The Minister has received outline business case certificate of compliance from ICRC for the concession of the airports.

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