The Nigerian Communications Commission (NCC) has disclosed that it more than N150 billion from spectrum license fees within the first five months of 2021, indicating N36 billion higher than its raked in revenue projections for the period. The commission’s Director of Public Affairs, Dr Ikechukwu Adinde, made the disclosure in a statement issued at the […]
Economy News Extra
NBS Reports 0.82% Rise In All Commodity Group Import Index
The National Bureau of Statistics (NBS) has reported that Nigeria’s All commodity group import index increased by 0.82% between January and March, 2021. The agency attributed the rise mainly to increase in the prices of Mineral products (1.53%), Live animals; animal products (1.38%) and Animal and Vegetable fats and oils and other Cleavage products (1.24%). […]
U.S’ Insured Property Losses Hit Over $68Bn In 2020
The United States’ cumulative insured property losses last year have been estimated to be over $68 billion in 2020, as 19 catastrophe events with each leading to more than $1 billion in claims hit the country during the year. A news report by artemis.bm, a research firm specialising in catastrophe bonds, insurance linked securities, reinsurance […]
FG Re-affirms Commitment To Completion Of NIPPs’ Sale
The Federal Government has assured prospective power investors that the five National Integrated Power Plants (NIPPs) put up for sale will go on as planned in furtherance of its efforts to boost power supply nationwide The five NIPP plants planned for sale are Benin Generation Company Limited at Ihovba, Edo State, Calabar Generation Company Limited, […]
SEC Moves To Enhance CSDs’ Interconnectivity For Trading Efficiency
Nigeria Securities and Exchange Commission (SEC) has commenced moves towards the implementation of a framework to strengthen interconnectivity and interoperability among the Central Securities Depositories (CSDs) with a view to enhancing trading and settlement system efficiency in the nation’s bourse. The Commission in a Notice titled: “Interoperability among Central Securities Depositories: Proposed Interoperability/FMI Link Framework”, […]
Technology: China’s Didi Global Inc Raises $4.4Bn In U.S. IPO
China’s biggest ride-hailer, Didi Global Inc, on Wednesday raised $4.4 billion by pricing its shares at $14 each in its upsized New York initial public offering (IPO), according to public filings According to Dealogic, a financial markets platform offering integrated content, analytics, and technology via a service to financial firms, with the raising of about […]
Again, FG Shifts NIN-SIM Data Verification Deadline To July 26
In what seems to be a reflection of the realities on ground on the ongoing NIN-SIM verification exercise, the Federal Government has approved July 26, 2021as the new deadline for the completion of the exercise nationwide. The Director, Public Affairs Nigerian Communications Commission (NCC), Ikechukwu Adinde and the Head, Corporate Communications, Nigeria Identity Management Commission […]
Court To Hear Motion On Patience Jonathan’s $.78Mn Final Forfeiture On Oct 7
A Federal High Court in Lagos presided over by Justice T.G Ringim has fixed the hearing of a motion seeking the final forfeiture of the $5.78m and N2.4bn linked to former First Lady, Mrs. Patience Jonathan for October 7 this year. It would be recalled that Justice Mojisola Olatoregun had on April 26, 2017, ordered […]
Reps Flaw Banks’ Stance On Alleged $30Bn Revenue Leakage, To Summon FIRS
The House of Representatives’ Joint Committee on Finance, Banking and Currency on Monday held its inaugural hearing on alleged revenue leakages from the Federation Account estimated at about $30bn yearly relating to transfer of funds for payment of international contracts and interbank transfers, among others. The committee, co-chaired by Honourables James Faleke and Victor Nwokolo, […]
NNPC Will Fund 20% Stake In Dangote Refinery With Loans – Kyari
The Nigerian National Petroleum Corporation (NNPC) on Tuesday said that its planned acquisition of 20 per cent stake in the $12 billion Dangote Refinery would be funded through borrowing The corporation’s Group Managing Director, Mallam Mele Kyari, who gave this hint during an interview with Channels Television, said that already negotiations were ongoing with some […]