White House economists have sternly warned of a potential global financial crisis if U.S. Congress fails to raise the federal government’s debt limit before the country is expected to default on the national debt. Speaking on the implications of default by the President Biden-led administration on the country’s debt obligations, Cecilia Rouse, leading other economists […]
Insurance Europe’s Reinsurance Advisory Board (RAB) has urged the UK’s Prudential Regulation Authority (PRA) to either extend its Temporary Permissions Regime (TPR) for the reinsurance business or wait until the Treasury’s review of Solvency II is finalised before making changes to its regulatory requirements. It would be recalled that a recent consultation conducted by the […]
In what sounded an unrepentant voice of justification of the nation’s rising public debt stock, the Minister of Finance, Budget and National Planning, Zainab Ahmed, on Wednesday stoutly defended the borrowings of the President Buhari-led administration, saying the government will continue to borrow to fund critical projects. The minister, who spoke against the background of […]
The World Health Organization (WHO) has recommended the use of the RTS,S/AS01 (RTS,S) malaria vaccine among children in sub-Saharan Africa and in other regions with moderate to high P. falciparum malaria transmission. The global health organisation’s recommendation is based on results from an ongoing pilot programme in Ghana, Kenya and Malawi that has reached more […]
The Nigerian Communications Commission (NCC) has clarified the age requirement for SIM registration/ownership as provided for in its Reviewed/Draft Registration of Telephone Subscribers Regulations, saying that the proposal does not disqualify Nigerians below 18 years of age from getting Subscriber Identity Module (SIM). The commission, in a statement issued late Wednesday by its Director, Public […]
The Nigerian Communications Commission (NCC) has proposed new requirements for Subscriber Identity Module (SIM) card acquisition in Nigeria, including that Nigerians or residents below the age of 18 will not qualify to register and own a SIM. According to the draft copy of the modified Registration of Telephone Subscribers Regulations published on the commission’s website, […]
Global technology giant, Google, has affirmed its commitment to invest one billion dollars to improve Africa’s digital transformation. The company’s Chief Executive Officer, Sundar Pichai, who made this announcement during the Google for Africa virtual event on Wednesday, said the investment, which will run for five years, was aimed at improving a range of initiatives […]
The Senate on Wednesday confirmed the Nigerian Upstream Regulatory Commission (NURC) board member-nominees following the recommendations of its committee on Petroleum Resources. The commission, after the inauguration of the approved nominees, will take over the responsibilities of the Department of Petroleum Resources based on the provisions of the Petroleum Industry Act 2021. The Red Chamber’s […]
The Central Bank of Nigeria (CBN) on Wednesday disclosed the country’s payment system attracted about $500 million worth of investments between 2015 and 2020. The apex bank Governor, Godwin Emefiele, gave this hint in his address on the theme, ‘Trends in Nigeria payments system: Regulating the Fintech Digital Playing Field’, at the ongoing CBN’s 31st […]
The Senate on Wednesday approved President Muhammadu Buhari’s revised 2022-2024 Medium Term Expenditure Framework (MTEF). The Upper Chamber had on Tuesday referred the revised MTEF to its Committee on Finance for consideration ahead of the expected Appropriated Bill 2022 presentation by President Muhammadu Buhari on Thursday (October 7) to the joint session of National Assembly. […]