Wednesday, January 27, 2021

Telecoms companies get approval to register Nigerians.

Telecommunications companies have been licensed to register people who do not have National Identity Numbers so as to reduce the large crowds at the offices of the National Identity Management Commission, the NIMC has said. Director-General, NIMC, Aliyu Aziz, said some other private and public organisations had also been licensed by the commission to provide...

IMF Revises Nigeria’s 2021 GDP Forecast to 1.5%

The International Monetary Fund (IMF) in its World Economic Outlook (WEO) update relead on Tuesday has projected that the Nigerian economy will grow by 1.5% this year, slightly lower than the 1.7% it had predicted for the country in its previous forecast. The multilateral institution, in its latest WEO titled: ‘Policy Support and Vaccines Expected...

Access Bank Targets Eight More African Countries in Expansion Drive

Access Bank Plc has unfolded plans to expand to eight more African countries as part of a strategy to support trade and finance in the continent and take advantage of the newly formed African Continental Free Trade Area (AfCFTA). The countries are Morocco, Algeria, Egypt, Ivory Coast, Senegal, Angola, Namibia and Ethiopia. The Group Managing Director,...

Block SIMs Without NIN After Two Weeks, FG Tells Telcos

The Federal Government has issued an ultimatum to all telecommunications operators in the country to block all Subscriber Identification Modules (SIMs) without National Identification Number (NIN). It also ordered the network operators to ask all their subscribers to provide valid NIN to update their records and suspend SIM registration. These formed parts of the resolutions adopted...

Oil Prices Increase On Hopes Of Coronavirus Vaccines, Bonny Light Sheds $1.08

Oil prices climbed on Monday, lifting Brent (the benchmark for Nigeria’s crude oil grades) above $50 per barrel amid optimism that a dispensation of coronavirus vaccines will boost global fuel demand while a tanker blast in Saudi Arabia caused some panic in the market. Brent crude futures for February advanced by 67 cents or 1.3% to $50.64...

Petrol To Hit N170 Per Litre As PPMC Increases Depot Price Again

The Petroleum Products Marketing Company (PPMC) has again increased the ex-depot price of Premium Motor Spirit (PMS) petrol. A litre has been jerked up to N155.17 per litre from N147.67. PPMC is subsidiary of the Nigerian National Petroleum Corporation (NNPC). The new ex-depot price was contained in an internal memo with reference number PPMC/C/MK/003, dated November 11,...

European Stock Markets Open Higher After Biden Win

European stock markets shot higher at the start of trading on Monday after Joe Biden won the US presidential election. London’s benchmark FTSE 100 index jumped 1.5 percent to 5,997.28 points following strong gains across Asia overnight. In the eurozone, Frankfurt’s DAX 30 rallied 1.7 percent to 12,697.15 points and the Paris CAC 40 climbed 1.5...

NNPC to make N194b from new gas pact resolution

State oil firm, Nigerian National Petroleum Corporation (NNPC), is currently aiming at making about N194 billion after reaching a resolution with its partners, China National Offshore Oil Company (CNOOC) and South Atlantic Petroleum (SAPETROL), to settle all outstanding issues surrounding the development of Oil Mining Lease, (OML) 130. The corporation is also targeting to improve...

CBN directs banks to share customers’ data with Fintechs

The Central Bank of Nigeria (CBN) has asked commercial banks to share their customers’ data with financial technology (Fintech) companies to increase access to financial services and provide better services to customers. CBN Director, Payment System Management, Musa Jimoh disclosed this yesterday during the virtual FirstBank FinTech Summit 4.0 held in Lagos with the theme:...

Shoprite Begins Plan Leave Nigeria

South African superstores, Shoprite Holdings Limited, has stated it will auction its outlets in Nigeria, The Nation can report. The decision, it said, was informed by the COVID-19 pandemic, which it said has affected businesses worldwide. In its “Operational and Voluntary Trading Update (52 Weeks Ended 28 June 2020)” released on Monday, the megastores with presence...

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