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The World Bank has approved Nigeria’s request for a $1.5 billion loan. The Bretton Wood institution in a statement on Tuesday, said the facility is a five-year country partnership framework (CPF) that will last from 2021 to 2024. The bank said the facility was prepared jointly with the International Finance […]
Since March, oil prices reached their highest level on Friday, a day after major producers agreed to reduce their oil output cuts next year more slowly than planned before — giving a shaky market more time to absorb the extra supply. As at Friday evening, brent crude, the international benchmark, […]
300 members of staff of Arik Air has been relieved of their appointments by the management of the airline. The airline made this known in an statement on Friday blaming the sacking on the impact of COVID-19 pandemic. The press statement entitled “Arik Air management declares 300 staff redundant” explained […]
The Central Bank of Nigeria (CBN) has ordered bureau de change operators in the country not to sell dollars higher than N392 to end users. In a circular signed by director of trade and exchange at the CBN O.S. Nnaji dated November 30, 2020, the apex bank said the volume […]
India’s economy has entered a technical recession for the first time since independence, official data showed Friday. The country’s economy contracted 7.5 percent between July and September, performing the poorest among major advanced and emerging economies. Although the figures were an improvement on the record 23.9-percent contraction recorded last quarter, […]
Nigeria has generated N416.01 billion from company income tax (CIT) in third quarter of 2020 (Q3 2020) against N402.03 billion generated in second quarter of 2020 (Q2 2020) — representing a 3.48 percent increase. This is according to a report titled: ‘Company income tax by sectors (2015 – Q3 2020)’, […]
Key lending rates has been retained at 11.5% by the Monetary Policy Committee The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, Tuesday in an announcement said the decision is part of efforts to boost the economy towards a sustainable recovery from the recession. “Members voted in line […]
Washington Trade Daily is reporting that South Korea has taken the decision to withdraw its candidate who also doubles as its trade minister, Yoo Myung-hee from the World Trade Organisation (WTO) director-general race. Nigeria’s candidate in the WTO race, Ngozi Okonjo-Iweala had secured the popular vote by a wide margin […]
