Monday, March 30, 2020
Advertisement

COVID-19: CBN Grants Two-Week Market Holidays To Bureau De Change Operators

The Central Bank of Nigeria (CBN) has granted a two-week market holiday to the Bureau De Change (BDC) operators. The President, Association of Bureau de Change Operators (ABCON), Aminu Gwadabe, disclosed this in a statement on Thursday, noting that this comes into effective from Friday, March 27. According to Gwadabe, this follows a request which was...

Oil Prices Rise But Stay Below $30

Oil rose further Friday after a dramatic rebound from multi-year lows but stayed below $30 a barrel on fears the deadly coronavirus will push the world into recession with an oversupply. US benchmark West Texas Intermediate (WTI) was up 3.65 percent to $26.14 a barrel in midday Asian trade. Brent climbed 2.14 percent to $29.08 a...

Gulf Stock Markets Slump Over Coronavirus, Oil Fears

Stock markets in energy-rich Gulf states tumbled Thursday with Saudi shares down more than 4.0 percent following worldwide losses amid fears over the coronavirus pandemic and an oil price war. Dubai Financial Market dived more than 7.0 percent at the open on the last trading day of the week. Abu Dhabi shares dropped 6.0 percent. Stocks...

E-Commerce Guru Becomes Russia’s Richest Woman

The founder of an online fashion start-up is now Russia’s richest woman, dethroning the wife of a former Moscow mayor, the Russian edition of Forbes reported on Thursday.  Tatiana Bakalchuk, 44, has amassed an estimated fortune of $1.4 billion, beating out 56-year-old Yelena Baturina’s $1.2 billion, it said. Bakalchuk’s success at the helm of her online...

Controversy Over VAT proceeds, Rise In Goods’ Prices

In 1993, the Federal Government introduced Value Added Tax (VAT) to replace Sales Tax for the purpose of increasing the revenue base of government and make funds available for developmental purposes that will accelerate economic growth. The VAT was adopted in 1994 and prospective VAT payers, including manufacturers, wholesalers, importers, suppliers of taxable goods and...

Naira’s Performance Against Dollar In 2019 Weakest In 20 years

Nigeria’s Naira recorded its weakest performance against the United States dollar in two decades, closing the outgone 2019 on an average of N362.60, the worst run since the country returned to democratic rule in 1999. A PREMIUM TIMES analysis of Bloomberg financial data showed that in the twenty-year period, naira dipped against the greenback by about 265...

Banks Defying CBN’s Reviewed ATM Charges, Others – Customers Decry

Some bank customers have frowned at their banks for not complying with the new CBN guidelines for charges on Automated Teller Machine (ATM), released by the Central Bank of Nigeria (CBN). Some of the customers who spoke to the News Agency of Nigeria (NAN), in Abuja, regretted that banks had now devised a means of...

NUJ KICKS AGAINST SALE OF NTA, FRCN, OTHERS

The Nigeria Union of Journalists (NUJ), Lagos State Council, has condemned the call by a serving senator that some federal agencies should be sold. The union’s condemnation was contained in a communiqué it issued late Saturday night after its December monthly congress held at the Ladi Lawal Press Centre, Ikeja. The union during the congress deliberated...

PETROLEX MEGA OIL CITY TO EASE APAPA GRIDLOCK BY 60 PER CENT – ADEBUTU

The management of Petrolex mega Oil City on Saturday said that the completed first phase of the mega oil city in Ogun State would reduce the gridlock in Apapa by 60 per cent. Mr Segun Adebutu, the MD/CEO of the company said this in a statement issued in Lagos. The statement said that the Petrolex group,...

OIL PALM: GOV. CALLS FOR REVIVAL NATIONWIDE

Gov. Ifeanyi Ugwuanyi of Enugu State has called for the revial of oil palm production nationwide to boost oil palm production and restore its lost glory as a prime income earner for Nigeria. Ugwuanyi made the call in Enugu on Saturday at an enlightenment workshop on “making oil palm produce value chain a strategic tool...

LATEST NEWS