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IMF endorses crpto currency

IMF Managing Director Lagarde addresses Institute of International Finance in Washington

IMF head Christine Lagarde has dedicated a new blog post to the “potential benefits” of “crypto-assets such as Bitcoin.” The head of the International Monetary Fund (IMF) Christine Lagarde was buoyant about cryptocurrency in a blog post in support of the technology, published Monday, April 16. The post, which comes roughly one month after Lagarde cautioned against the “dark side” ...

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Private sector operators welcome African Continental free Trade Area Agreement

Intra-Africa Connect represented AfCTA Business Forum Kigali

Intra-African Connect, an organization committed to promoting and enabling Intra-African Trade and investment has lauded the signing of the African Continental Free Trade Agreement. The organization’s founder Mr. Nana Yao Lee was part of a group of private sector stakeholders that were taking part in the African Union Business Forum, held on the 20th of March 2018, a day before ...

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Nigeria Earned $476.3 Million From Crude Oil, Gas Exports in December 2017 – NNPC

oil

The Nigerian National Petroleum Corporation says it earned about $476.25 million from crude oil and gas exports in December, 2017. The corporation said in its monthly Financial and Operations Report for December, 2017 released on Tuesday that the figure more than doubled the export receipts $201.11 million realised in November, 2017. The report said while receipts from crude oil amounted ...

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Nigeria: Govt Identifies 130,000 Individuals, Firms Likely Culpable in Tax Underpayment – Adeosun

tax

The data mining efforts of the federal government through the Federal Ministry of Finance has identified a new batch of over 130,000 high net worth individuals and companies that have potential tax underpayments. The Honourable Minister of Finance, Mrs. Kemi Adeosun, revealed this on Tuesday while appearing on the Good Morning Nigeria programme of the Nigerian Television Authority. The Minister ...

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Nigeria: Senate Summons Aviation Minister Over Air Mishaps

airline

Following the recent frequent air mishap in the country, the Nigerian Senate has, Tuesday, summoned the Minister of State Aviation, Hadi Sirika, to appear before it and explain why such mishaps have been occurring and measures taken to avoid subsequent occurrences. A motion filed by Senator Gbenga Ashafa brought to the notice of the senators that two air mishaps has ...

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Britain to add Nigeria’s naira to list of accepted trade currencies

naira_-_635.gtbank.co_

Britain’s export finance agency will add the naira to its list of “pre-approved currencies”, allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency. The naira will become one of three West African currencies that UK Export Finance has pre-approved for its programme of funding transactions that promote trade with Britain, it said. Britain voted ...

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Nigeria sues JP Morgan for $875 mln over Malabu oilfield deal

jp

Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country’s former oil minister.A spokeswoman for JP Morgan dismissed the accusation on Thursday, saying the firm “considers the allegations made in the claim to be unsubstantiated and ...

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Nigerian stocks hit 9-year high in third straight day of gains

Stock market display board with opening bell

Nigerian stocks hit a nine-year high on Wednesday, extending gains for a third straight session. The main index rose 1.89 percent to close to 45,000 points, a level last reached in October 2008. Nigerian stocks have gained strongly in January, extending 2017’s 42 percent rise. The central bank floated the naira for foreign investors in 2017, a move that has ...

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Nigeria: Crude Oil Price Hits U.S.$70 Per Barrel

oil

The price of brent crude oil rose to $70 per barrel yesterday, supported by ongoing output cuts led by OPEC and Russia, and ignoring a rise in United States and Canadian drilling activity that points to higher future output in North America. Brent sweet crude futures, the international benchmark for oil prices, were at $70 per barrel at 0558 GMT, ...

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Gas supply to Nigeria’s Escravos-Lagos Pipeline System restored

pipe

Nigeria has fully restored the supply of gas on a pipeline affected by a fire last week, a spokesman for the state oil company said on Monday. Gas supply to several power stations was cut off because of the fire on the Escravos-Lagos Pipeline System near Okada in the southern state of Edo on Wednesday last week. The Nigerian National ...

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