Tag "nigeria"

    Zenith Bank ranked number one bank in Nigeria by tier-1 capital

Zenith Bank ranked number one bank in Nigeria by tier-1 capital

Zenith Bank Plc has been ranked the number one bank in Nigeria by tier-1 capital in the 2020 Top 1000 world banks ranking published by The Banker Magazine. In a statement on Thursday signed by Ayoola Kusimo, of its corporate communications department, the bank said it moved from 415th position in 2019 to 386 in 2020. It said it also retained its position [...]

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    COVID-19: UN says 7.8m Nigerians are in need of life-saving assistance

COVID-19: UN says 7.8m Nigerians are in need of life-saving assistance

"UN and NGOs as well as government institutions had planned to step up their assistance in 2020. UN and partner NGOs needed $834 million to provide urgent aid to 5.9 million people. "We are half-way through the year and so far only 15% of the funding has been received. Now with the COVID-19 pandemic and its impacts on the economy and [...]

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    Zainab Ahmed: COVID-19 may have affected 21m jobs

Zainab Ahmed: COVID-19 may have affected 21m jobs

Zainab Ahmed, the minister of finance, budget and national planning, says the COVID-19 pandemic is projected to have affected 21 million jobs in the country. The minister was speaking at a webinar organised by the Nigeria Fiscal Policy Roundtable of the Nigerian Economic Summit Group (NESG). She was represented at the webinar by Sarah Alade, special adviser to President Muhammadu Buhari on [...]

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    Nigeria: Regaining our voice in a season of diplomatic anomie

Nigeria: Regaining our voice in a season of diplomatic anomie

I was in Victoria Falls, a city in Zimbabwe, for a UNECA conference. During my cab ride into town from the airport, the driver (I don’t quite remember his name now) at my prompting started a conversation around the economy of Zimbabwe under President Emmerson Mnanagawa, better known as “ Crocodile.” He was eager to discuss the politics and economies [...]

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    COVID-19: Nigerians excluded from list of eligible travellers to Europe after border reopening

COVID-19: Nigerians excluded from list of eligible travellers to Europe after border reopening

The European Union Commission has excluded Nigeria from the list of countries whose nationals will be allowed in the region when the borders are open from July 1. The European countries had shut their borders when the COVID-19 pandemic spread into the region. With the easing of lockdown restrictions, the EU had released a draft list of 54 countries that will be [...]

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    FG: Over 1m Nigerians applied for N-Power in less than 48 hours

FG: Over 1m Nigerians applied for N-Power in less than 48 hours

The federal government says more than one million applications have been received on the N-Power portal since it opened on Friday night. This was disclosed in a statement signed by Rhoda Iliya, the deputy director information, ministry of humanitarian affairs disaster management and social development, on Sunday. The Batch C application commenced at 11:45pm on June 26, 2020, and closes on June [...]

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    FACT CHECK: Are DStv’s tariffs in Nigeria the highest in Africa?

FACT CHECK: Are DStv’s tariffs in Nigeria the highest in Africa?

In May 2020, Multichoice, the owners of DStv and GOtv, disclosed that rates would go up in Nigeria.  This immediately led to a social media outrage, with many calling it insensitive "during a pandemic".  In Multichoice's defence, John Ugbe, chief executive officer of Multichoice, said the company did not increase subscription rates, stating it was only an adjustment to reflect the [...]

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    CBN: We won’t be distracted from steering the economy away from recession

CBN: We won’t be distracted from steering the economy away from recession

The Central Bank of Nigeria (CBN) says Godwin Emefiele, its governor, and his team will not be distracted from their efforts to steer the Nigerian economy away from the looming recession caused by the COVID-19 pandemic. Isaac Okorafor (pictured), CBN director of the corporate communications, on Wednesday, said the apex bank has "uncovered sinister plans by some persons to discredit the institution [...]

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    IMF projects worse decline for Nigeria’s economy

IMF projects worse decline for Nigeria’s economy

The International Monetary Fund (IMF) has revised its projection for Nigeria's gross domestic product (GDP) projection downwards to a negative 5.4 percent. This is worse than the -3.4 percent contraction published in the April World Economic Outlook report. In the World Economic Outlook update released on Tuesday, the Bretton Wood institution projected that the global economy will suffer a deeper contraction of [...]

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    Nigeria procures COVID-19 testing machine with support from UK

Nigeria procures COVID-19 testing machine with support from UK

The Nigeria Centre for Disease Control (NCDC) has unveiled a new polymerase chain reaction (PCR) machine to boost COVID-19 testing in the country. The machine was unveiled at the Central Public Health Laboratory (CPHL), a campus of the NCDC National Reference Laboratory in Lagos, on Sunday. The PCR machine was procured using part of the £661,000 UKAid funding the British government donated [...]

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    Police rescue abducted Filipino lured to Nigeria by Facebook ‘lover’

Police rescue abducted Filipino lured to Nigeria by Facebook ‘lover’

The police have rescued Irene Panas, a 40-year-old Filipino woman, from a Nigerian man who lured her into the country and held her captive. In a statement on Monday, the police said the woman was rescued six months after she arrived in Nigeria from her home country "in an apparent but unsuccessful search for love". Frank Mba, force public relations officer, said the [...]

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    Trump planned to stop $1.5bn aid to Nigeria, says Bolton, ex-US NSA

Trump planned to stop $1.5bn aid to Nigeria, says Bolton, ex-US NSA

John Bolton, a former United States national security adviser, has alleged that President Donald Trump once argued that the $1.5 billion annual aid given to Nigeria should be stopped. Bolton, in a book titled "In the Room Where It Happened", alleged that the president also said funding for military operations in Afghanistan and Syria should be cut but wanted funds released for [...]

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    Ghana: Those who attacked Nigerian high commission will be punished

Ghana: Those who attacked Nigerian high commission will be punished

The Ghanaian government says it will punish those involved in the attack on Nigerian high commission in Accra. TheCable had reported how armed men invaded the commission in Accra, demolishing some apartments that were under construction. In a statement, Ghana's ministry of foreign affairs and regional intervention said the incident is being investigated with the aim of bringing perpetrators to book. The ministry said security [...]

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    PwC survey shows electricity responsible for highest cost in SME operations

PwC survey shows electricity responsible for highest cost in SME operations

PricewaterhouseCoopers (PwC) has listed obtaining finance, infrastructure and finding customers the most pressing problems that are affecting the operations of micro, small and medium scale enterprises (MSMEs).  In a statement on Friday, PwC said the challenges were identified using a survey that was conducted between August and December 2019 covering 1,629 stakeholders in the MSME sector with a turnover of at least [...]

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    WHO: Nigeria may be declared wild polio free in August

WHO: Nigeria may be declared wild polio free in August

The World Health Organisation (WHO) says Nigeria will soon be declared free of wild polio virus. The country has completed its documentation for wild polio free status, an exercise accepted by the Africa Regional Certification Commission for polio eradication (ARCC). WHO in Nigeria shared the information via its Twitter account, on Thursday. "Today, Nigeria’s complete documentation for #WildPoliovirus free status was accepted by [...]

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    ‘Nearly one million pigs dead’ as swine fever outbreak hits Nigeria

‘Nearly one million pigs dead’ as swine fever outbreak hits Nigeria

Pig farms in Nigeria have been hit by an outbreak of African swine fever (ASF). The ASF is a severe viral disease affecting pigs and results in serious production and economic losses, and while there is no approved vaccine against ASF, it is not a risk to human health. According to The Guardian UK, hundreds of thousands of pigs were culled by [...]

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