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Default on loans with collateral worsened in Q4 – CBN

CBN freezes 11 bank accounts

The default on loans with collateral worsened in the fourth quarter of 2020, according to the Central Bank of Nigeria. The statistics department of the CBN disclosed this in its fourth quarter ‘Credit condition survey report’ on Tuesday. “Secured loan ...

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Afreximbank predicts 10% rise in 2021 oil prices

Oil hits six-week high $68.47 as dollar weakens

Oil prices are expected to rise around 10 per cent over the next year, according to the Afreximbank African Commodity Index for the third quarter of 2020. The index, which measures commodity prices every quarter, said the oil industry is ...

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I could beat Fury twice, then circle back to reclaim WBO title, says Joshua

Anthony Joshua reveals retirement date

As the year comes to a close, the IBF, IBO, WBA, WBO heavyweight champion Anthony Joshua is looking forward to a potential full division unification with WBC champion Tyson Fury in 2021, reports boxingscene.com. Joshua was in action earlier this ...

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Nigeria risks losing 38% deepwater oil output 2025 – Operators

Nigeria risks losing 38% deepwater oil output 2025 – Operators

The fiscal terms in the current Petroleum Industry Bill may lead to a 38 per cent reduction in Nigeria’s deepwater oil production in 2025, an industry group comprising international and indigenous oil firms in the country has said. The operators ...

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Banks’ loan defaulters almost wrecked Nigerian economy – AMCON

Banks’ loan defaulters almost wrecked Nigerian economy – AMCON

The Asset Management Corporation of Nigeria has said that loan defaulters of Deposit Money Banks who are on its books almost crashed the Nigerian economy if not for its intervention. AMCON, an agency of the Federal Government, also stated that ...

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National Assembly transmits N13.5tn budget to Buhari

Senate demands detailed report on alleged N4tn unremitted funds

The National Assembly has transmitted the 2021 Appropriation Bill of N13.5tn to the President, Major General Muhammadu Buhari (retd.). The Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Babajide Omoworare, disclosed this to media source in ...

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Transporting containers in Lagos equals shipping cost from China – Report

Transporting containers in Lagos equals shipping cost from China – Report

The congestion at the Apapa port in Lagos has become so bad that trucking a container from the port to the mainland which is just about 20km, now costs about $4,000 (N1.5m) which is almost the same cost as shipping ...

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ABCON seeks BDC inclusion in diaspora remittance payment

ABCON seeks BDC inclusion in diaspora remittance payment

The Association of Bureaux De Change Operators of Nigeria (ABCON) has appealed to the Central Bank of Nigeria (CBN) to make Bureaux De Change (BDCs) payout agents for diaspora remittances. ABCON President, Dr. Aminu Gwadabe, made the call in Lagos ...

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Stock market sets new milestone, crosses N20tr capiitalisation

Foreign investment in Nigerian stocks falls to N60.11bn

The market capitalisation of the Nigerian Stock Exchange (NSE) crossed N20 trillion capitalisation for the first time in the history of equity market last week, indicating an inflow of more funds into the market. The bullish sentiment continued unabated for ...

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Airlines, travellers face fresh hurdles as new protocols begin today

Airlines, travellers face fresh hurdles as new protocols begin today

• UK, S’African passengers to get extra travel permits before boarding to Nigeria • NCAA rolls out conditions, $3,500 fine per defaulter • Stakeholders, IATA insist on on-arrival rapid testing at airports Fresh hurdles now await international air travellers from ...

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Arsenal end winless streak, beat Chelsea 3-1

Arsenal end winless streak, beat Chelsea 3-1

Mikel Arteta clinched a much-needed win to relieve some of the mounting pressure, with Arsenal surviving a late scare against Chelsea. Arsenal survived a late scare to end their winless run in the Premier League as Mikel Arteta’s much-maligned side ...

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COVID: World Bank provides NIMC with £172m PPE

FG spends N568.5bn annually on power tariff shortfalls – World Bank

The World Bank has supported the National Identity Management Commission with protective equipment against Covid-19 worth £172m, to assist the agency to carry out enrolments for National Identification Numbers across the country. This is coming after NIMC offices witnessed a ...

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Nigeria’s duty-free export to US shrinks to $351.73m

Nigeria’s duty-free export to US shrinks to $351.73m

Nigeria’s export to the United States under a duty-free policy declined in the first nine months of 2020, recording $351.73m from January to September. According to the latest African Growth and Opportunity Act policy trade statistics, exports to the US ...

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Third Mainland Bridge shut for three days

Third Mainland Bridge shut for three days

The federal government has shut the Third Mainland Bridge in Lagos to enable it carry out urgent repairs. The closure was carried out at midnight on Christmas Day and will remain so until tomorrow. A 48-hour partial closure of the ...

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12-time NBA champion KC Jones is dead

12-time NBA champion KC Jones is dead

KC Jones, a 12-time NBA champion as a player and coach and 1956 Olympic gold medalist, has died, his former club the Boston Celtics announced Friday. He was 88. Jones, who was inducted into the Basketball Hall of Fame in ...

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Stop attacking our governors, PDP warns APC

You must account for alleged N15tr loot, PDP tells APC leaders

The Peoples Democratic Party has cautioned the governing All Progressives Congress against attacking its governors and their states as a ploy to divert attention from the failures of the APC-led regime. The National Publicity Secretary of the PDP, Kola Ologbondiyan, ...

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Kanayo, Bob Manuel, Uche Jombo, Ezuruonye, others pay tributes to Chico Ejiro

Kanayo, Bob Manuel, Uche Jombo, Ezuruonye, others pay tributes to Chico Ejiro

The Nigerian entertainment industry was thrown into mourning when a popular scriptwriter, director and producer, Chico Ejiro, passed away on Christmas Day. He was said to have suddenly died at about 2am. Ejiro, who was popular for movies such as ...

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Nigeria’s Q3 oil exports to US suffer 820,000-barrels drop

Nigeria’s revenue prospects brighten as oil hits $67

The volume of Nigerian crude oil bought by the United States dropped by 11.83 per cent in the third quarter of this year to 6.11 million barrels, the latest data from the US Energy Information Administration have shown. The US ...

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Seafarers president assures workers of better welfare

Seafarers president assures workers of better welfare

The National President of the Nigerian Merchant Navy Officers and Water Transport Senior Staff Association, Bob Yousuo, has assured Nigerian seafarers of better welfare package in 2021. Yousuo said more Nigerian Seafarers would enjoy employment following interventions from the International ...

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Dangote refinery, a potential game-changer, says Platts

Dangote Group’s Petroleum Industry Bill Proposal

The Dangote refinery in Nigeria will be a “potential game-changer” once it comes online, according to a report by Platts Analytics. The plant, which has a capacity to process 650,000 barrels of crude oil, has been described by Dangote Industries ...

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