Tag Archives: Economy

Cryptocurrency Ban: It is for the Best Interest of Nigeria, CBN Gov. Emefiele Tells Senate Committee 

Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele on Tuesday honoured the invitation by Senate to defend the ban on cryptocurrency trading in the country. A Channels Television report sites, the decision of the Senate to invite the CBN governor is sequel to a motion by a Federal Lawmaker Senator Istifanus Gyang during plenary on…

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Tony Elumelu, Tomi Adeyemi & Tunji Funsho Among ‘TIME’ Magazine’s ‘100 Most Influential People’ Of 2020

The United Bank for Africa (UBA) and Transcorp Plc Chair is one of three Nigerians on the list, alongside Tomi Adeyemi and Tunji Funsho TIME has named Tony O. Elumelu, one of Africa’s leading investors and philanthropists, in the 2020 TIME100, the annual list of the 100 most influential people in the world. The list, now in…

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Tony Elumelu Advocates Collaborations To Boost Africa’s Fortunes On Time 100 Talks

The Group Chairman, United Bank for Africa (UBA) Plc, Tony O. Elumelu has said that the Coronavirus pandemic has presented a perfect opportunity for foreign investors to invest in Africa, owing to the huge opportunities that are inherent in the African economy. “This is the time to invest. Africa is a land of opportunities; There…

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WTO Acknowledges Okonjo-Iweala After Being Nominated By President Buhari

ICYMI: On Tuesday, the World Trade Organisation accepted Nigeria’s nominee, Dr. Ngozi Okonjo-Iweala for the post of its Director-General Recall that we shared the news that President Muhammadu Buhari had nominated former Finance Minister for the post of WTO’s Director-General. According to Channels T, current WTO Director-General, Mr. Roberto Azevêdo, has announced he will step down on August…

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ICYMI: Buhari Nominates Okonjo-Iweala As Candidate For WTO Director-General’s Position

According to TheCable, President Muhammadu Buhari has approved the nomination of Ngozi Okonjo Iweala, Nigeria’s former finance minister, for the position of director-general of the World Trade Organisation (WTO). The election is scheduled to hold in Geneva, Switzerland in 2021 for a four-year term that would run from 2021 to 2025 after Roberto Azevedo, former director-general of the…

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Germany Plunges Into Recession Due To Coronavirus Lockdown

Germany has being pushed into recession after official figures released on Friday May 15, that showed that the European country’s economy shrank by 2.2% in the first three months of this year, BBC reports. The figures released by the Federal Statistical Office of Germany, also showed revisions to 2019 fourth-quarter figures from zero growth to a contraction…

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COVID-19: IMF Grants Nigeria $3.4bn Emergency Support To Fight Pandemic

The Federal government has been granted $3.4 billion by the International Monetary Fund IMF after requesting to help address the severe economic impact of the COVID-19 pandemic and the sharp fall in oil prices. On Tuesday April 28, the Executive Board of the International Monetary Fund (IMF) approved the financial request, according to LIB. In a statement…

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Toke Makinwa Reacts To Lockdown Extension: “Credit Everyone’s Account Even If It’s N10k”

Toke Makinwa has joined other Nigerians to react towards the looming adverse economic effect of the COVID-19 lockdown extension in Lagos, Ogun, and Abuja.  The media personality suggested that the federal government credits the accounts of Citizens of the country with at least N10, 000 to cushion the effect of the forthcoming two weeks. Reacting…

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Canadian Prime Minister, Justin Trudeau Unveils $82B In Aid To Combat Coronavairus

The Prime Minister of Canada, Justin Trudeau has unveiled an $82-billion emergency aid for workers, employers, parents, students, Indigenous communities and other groups in order to assist them during the economic damage that coronavirus (COVID-19) might cause. Trudeau said the package consisted of $27 billion worth of “direct support” to workers and businesses and another $55 billion…

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