TheCable
Naira appreciates at N493 to dollar in parallel market
The naira, on Thursday, appreciated by 1.8 percent to N493 to a dollar at the parallel market as the Central Bank of Nigeria (CBN) increased forex supplies to banks. The local currency, which opened at N502 per dollar, gained N17 to N485 during midday trading before closing at N493/$1, according to data on abokiFX.com, a website that collates parallel rates in Lagos. It also appreciated against the pound sterling to close at N710 and N600, gaining N3 and N6, respectively, on the street. At the importer and exporter (I&E) window, it appreciated 0.13 percent to close at N411.50 to the dollar. Last week, Godwin Emefiele, CBN governor, met with bank CEOs and agreed to increase the amount of foreign exchange allocated to banks to meet legitimate needs. Emefiele cautioned them to ensure that...
House backs bill to prohibit bank employees from operating foreign accounts
A bill seeking to prohibit bank employees from operating foreign accounts has passed second reading at the house of representatives. The bank employees’ declaration of assets act amendment bill also seeks to mandate the bankers to declare assets of their spouses and children less than 18 years old. The Economic and Financial Crimes Commission (EFCC) had in March ordered those in the banking sector to declare their assets in accordance with the act, raising questions as to the legality of such directive. Newsmen reported that the bank employees’ declaration of assets act requires bank board members, managing director, general managers, clerks, cashiers, messengers, cleaners, drivers, and any other category of workers — whether part‐time, casual or temporary — to declare their assets. Leadin...
Nigeria to benefit as G-20 approves extension of debt relief
Finance ministers of G-20 countries have approved an extension of debt relief for the world’s poorest nations till December 2021. David Malpass, World Bank president, made the announcement at the virtual spring meeting, on Wednesday. TheCable had earlier reported that the G-20 countries will meet this week to consider an extension of the debt freeze. The G-20, is a group of finance ministers and central bank governors from 19 of the world’s largest economies, including those of many developing nations, along with the European Union. G-20 countries had established a debt service suspension initiative (DSSI) which took effect in May 2020. Nigeria had benefited from the initiative which delivered about $5 billion in relief to more than 40 eligible countries. The suspension period which was or...
Kogi government expresses readiness to start coronavirus vaccination
The Kogi State Government has expressed readiness to start administering the COVID-19 vaccine to residents. Earlier, Governor Yahaya Bello insisted that he would not allow his people to be used as “guinea pigs by vaccine manufacturers”. But the State Commissioner for Health, Saka Haruna, told journalists on Monday in a telephone interview that Kogi will receive doses of the vaccine on Tuesday ahead of the rollout. He also said the residents will be given “unhindered access to receive the vaccine”. Kogi is the only state yet to start administering the Oxford/AstraZeneca vaccine to residents three weeks after Nigeria began its rollout. The National Primary Health Care Development Agency had attributed the delay to two factors – the state’s “concerns around the contradictory information about...
UAE waives extra coronavirus test for Nigerians
The United Arab Emirates (UAE) has removed the rapid antigen test requirement for Nigerians travellers. This is according to a March 24 letter from the protocol department of the UAE ministry of foreign affairs seen by newsmen. The federal government had suspended Emirates Airlines after it announced an additional test requirement for Nigerian travellers in addition to the PCR test mandated by the presidential task force on COVID-19 (PTF). Agreeing to remove the test requirement, the UAE government demanded that the number of passengers on inbound flights to the UAE must not exceed 200 for two weeks. It also said only direct flights between the UAE and Nigeria are allowed. “Passengers need to present a valid negative PCR test conducted within 48 hours before boarding,”. “Provide the Embass...
Why we imposed levy on every loaf of bread in Kogi – official
The Kogi State Government has contracted a consultant to levy every bread baked, with the Ministry of Commerce and Industry. The post Why we imposed levy on every loaf of bread in Kogi – official appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Goodluck Jonathan: Coronavirus could give rise to dictators
YouTube Former President Goodluck Jonathan, Friday advised Africans to be careful the way they handle coronavirus pandemic, noting that the virus could give rise to dictators. Disclosing this while speaking during a webinar organised by the Kofi Annan Foundation, Jonathan said: “This is the time that many continental bodies must come up with their own minimum standards for any country going into election to operate. “Otherwise people who ordinarily would have loved to be dictators will now exploit the problem of the COVID-19 pandemic and do what is not in line with the laws of the land.” Speaking further, Jonathan mentioned one positive thing’ in Nigeria’s COVID-19 response. According to him, “In Nigeria, I have seen one thing about the management of the COVID-19 which is also positive,” h...
