Good morning, here are the latest top business news headlines for today Saturday, 6 February 2021.
BREAKING: CBN Orders Closure Of Accounts Dealing In Cryptocurrencies
The Central Bank of Nigeria, CBN, had directed all Deposit Money Banks and other financial institutions to close the accounts of anyone discovered to be dealing in cryptocurrencies.
The apex bank gave this order in a circular issued on Friday…Read more
Nigeria’s Foreign Capital Inflow Dips By Nearly 60 Percent
Nigeria’s Foreign Capital Inflow dipped to its lowest level in four years, dropping by more than half to $9.68bn in 2020.
This is according to the NBS capital importation report for the…Read more
Read This Before You Switch From One PFA To Another
The pension industry in Nigeria has evolved over the years and the introduction of the Transfer Window, which allows pension contributors to switch from one pension fund administrator (PFA) to another has been the talk of the town since November 2020 when it was officially declared open by the National Pension Commission (PenCom).
Recently, Stanbic IBTC Pension Managers hosted an…Read more
Okonjo-Iweala’s Rival For WTO Top Job Withdraws
One of the top candidates for the top position at the World Trade Organisation (WTO) Yoo Myung-hee South Korea’s Trade Minister has pulled out from the candidacy race.
The candidate left for the spot is Nigeria’s former…Read more
Petrol Price Increase Looms As FG Mulls N9.11 Freight Rate
The Federal Government has commenced discussions with representatives of the organized labour on how to increase the freight rate of the Premium Motor Spirit (PMS) – petrol from N7.51 per litre to N9.11.
It was gathered that this increment may lead to about…Read more
Stanbic IBTC Announces Executive Appointments Across The Group
Stanbic IBTC Holdings PLC (‘the Group’), a member of Standard Bank Group, has announced several key executive appointments across the Group, in a bid to fortify its market leadership position in the Nigerian financial services sector. The appointments are in line with the organisation’s corporate governance structure, people promise as well as a succession plan.
The new appointments cut across Stanbic IBTC…Read more
NAFEX Update: Naira Weakens Further
The exchange rate at the Nigerian Autonomous Foreign Exchange (NAFEX) window has depreciated for four consecutive days since Monday.
At the Investors and Exporters window on Thursday, February 4, 2021…Read more
Nike Tops Sportswear Brands In Revenue
Sportswear company Nike has bested other big names in the sportswear industry in revenue, raking in $37.4 billion for the 2020 fiscal year.
This was gathered from data presented by…Read more
Lagos Seeks Involvement Of Private Sector In Public Transport Services
The Lagos State Government has called on the private sector to get involved in the state’s public transport services.
This was disclosed by the Commissioner for Transportation…Read more
25 Companies Record Drop In Share Prices
Trading on Thursday did not favor 25 companies whose share prices drop, with a total of N110 billion lost in the equities market.
There has been a decline in profit for four consecutive trading…Read more
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