Good Morning, welcome to Bizwatchnigeria latest Nigeria business and other top trending news roundups for today, Sunday, November 29th, 2020.
1. FG Has Fulfilled World Bank’s Loan Requirements – Finance Minister
Zainab Ahmed, the minister of finance, budget and national planning, says the federal government has fulfilled the conditions required for the World Bank loan.
Ahmed said on Friday that Nigeria is in the final stages of negotiating the loan.
At the onset of the COVID-19 pandemic, the federal government requested for loans totalling $6.9 billion from the World Bank, International Monetary Fund and African Development Bank to fund budget shortfall. Read More…
CBN Orders Naira Be Sold At N392/$
The Central Bank of Nigeria (CBN) has directed Bureau De Change (BDC) operators in the country not to sell dollars higher than N392 to end users.
In a circular signed by O.S. Nnaji, Director of Trade and Exchange at the CBN, and dated November 30, 2020, the apex bank said the volume of sales for each market is $10,000 per bureau de change (BDC).
“Please be advised that the applicable exchange rate for the disbursement of proceeds of IMTOs, for the period Monday, November 30 to Friday, December 14, 2020, is as follows: International money transfer service operators (IMTSOs) to banks – N388/$1; Banks to CBN – N399/$1; CBN to BDCs – N390/$1; BDCs to end-users not more than N392/$1,” it read. Read More…
REVEALED: NERC Plans Another Electricity Tariff Review
BizWatchNigeria has gathered that the Nigerian Electricity Regulatory Commission (NERC) is set to introduce the capping order on estimated billing for unmetered customers to ensure fairness and parity with their metered counterparts.
Commissioner in charge of Legal, Licensing and Compliance, Mr Dafe Akpeneye, speaking at a web conference organised by PricewaterhouseCoopers (PwC), stated this saying since the Discos failed in their responsibility to meter customers, the only option was to resort to estimation.
He spoke just as the federal government handed over the Afam Power Plant in Oyigbo Local Government of Rivers State to Transcorp Power Consortium, which emerged the preferred bidder of the power asset, with a bid offer of N105.3 billion. Read More…
Obaseki Throws In Full Support For Independence Of Edo State Judiciary
The Edo State Governor, Mr. Godwin Obaseki on Friday said his administration will sustain ongoing reforms in the judicial system, noting that he is in full support of the independence of the judiciary.
Obaseki disclosed this while addressing members of the state judiciary at the opening of the 2020/2021 legal year.
“As a government, we are not opposed to the independence of the judiciary, and we believe that the judiciary should be properly funded,” he said. Read More…
EPL Livescores: Brighton Held Liverpool As Man City Crush Burnley 5-0
nglish Premier League (EPL) Defending champion, Liverpool were denied win as they played 1-1 draw against Brighton & Hove Albion.
Injury time controversial penalty was awarded against Jurgen Klopp’s men after Andy Robertson kicked Danny Welbeck’s boot.
New signing Diogo Jota gave the Reds the lead as he scored his ninth goal for the Merseyside team. Read More…
Unknown Gunmen Abduct Akeredolu’s Chief of Staff’s Wife
Unidentified gunmen have abducted the wife of the Chief of Staff to Ondo State Governor, Rotimi Akeredolu.
Bizwatch Nigeria gathered that the woman was abducted alongside another woman while returning on a business trip.
The police spokesman in the state, ASP Tee-Leo Ikoro, confirmed the news. Read More…
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