Good day, here are the latest business news headlines update in Nigeria for today, Tuesday, January 5, 2021, on BizwatchNigeria.
Q3: N217bn Invested In Real Estate – PenCom
The sum of N217.58 billion has been infused into the real estate sector by the Pension Fund Administrators, as disclosed by the National Pension Commission (PenCom), for the month of September 2020.
This disclosure by the commission was contained in its Q3 report for 2020, adding that infrastructure got a total of N54 billion.
The commission stated that lands upon which any real estate investment is located will be owned by the CPFA/AES, and that it can be acquired either by “outright purchase or a leasehold agreement”. Read More…
Price Of Crude Oil Falls While OPEC+ Stalls Decision
The price of Brent crude suffered a decline on Monday, slipping from a record high of $53.30 to $51.24. The market had seen the price of the commodity improve after OPEC and its allies reached an agreement to cut production levels.
OPEC and OPEC + held a meeting on Monday, however, there was no resolution on output levels for February. The meeting is expected to continue on Tuesday.
The price slumped despite expectations that OPEC+ would refrain from increasing output next month and optimism over a vaccine-driven economic recovery, according to Reuters. Read More…
Revealed: Why Intels Parted Ways With Atiku
Integrated logistics services firm, Intels Nigeria Limited, a company co-founded by Atiku Abubakar has disclosed the reason why it cut ties with the former Nigerian Vice President.
The company statement titled, ‘Intels severs ties with Atiku’, noted that it cut ties with the former VP and his family after he sold off his stake and exited the company in 2020.
BizWatchNigeria reported that Atiku cited political interference by the Buhari administration as the reason behind his decision. Read More…
Luno Says Bitcoin Price Could Surge To $100,000 By Year-End
The Chief Executive Officer of Luno, Marcus Swanepoel, has predicted that the price of bitcoin may rise to $100,000 before the end of 2021 amid the recent massive gains in the value of the cryptocurrency.
While analysing the recent trends in the cryptocurrency on Monday, he said it was typical for bitcoin prices to surge during periods of economic crisis.
In a statement issued by the company, he said the 2020 global economic crisis played a big role in bitcoin’s surge last year. Read More…
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