Nigeria in 1min: Economic, Business and Financial Headlines - 060421


Tuesday, April 6, 2021 / 5:36 AM / By News Aggregator / Header Image Credit: Leadership NG


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COVID-19 Health Updates 

  • 5th of April 2021: Nigeria COVID-19 Status in 36 states and the Federal Capital Territory
  • Confirmed: 163,330 cases (New: 135)
  • Discharged: 152,045
  • Deaths: : 2058 (New: 0)

Source: NCDC Read More

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The Case for Leadership and Ethics in Sustaining Nigeria's Socio-Economic Development - High value for leadership, ethics, and accountability would help Nigeria achieve inclusive socio-economic development. Alhaji Tijjani Borodo, the Second Vice-President of the Institute of Directors (IoD), Nigeria made this point at the formal launch of his book "A Journey in Leadership: An Autobiography". Source Ottoabasi Abasiekong for WebTV Read More

Oil Rally Pushes Nigeria's Revenue Above Budget Estimate - The upturn in the price of the international oil benchmark, Brent crude, has pushed Nigeria's oil revenue above the estimate in the 2021 budget. Brent, against which the country's crude oil is priced, has been trading more than $20 higher than the Federal Government's benchmark for this year's budget in recent months. Source Punch Read More

FG Advises States on Requirements for $1.5bn Fiscal Support - The Federal Government on Sunday urged states to domesticate the National Chart of Account to qualify for performance-based grants under the States' Fiscal Transparency Accountability and Sustainability Programme. Source Punch Read More

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STANBIC FY2020 Results: Marginal Improvement in Earnings and Significant Rise in Impairment Charges - The earnings of Stanbic IBTC Holdings over the last five years have been increasing at a decreasing rate, the coronavirus pandemic in 2020 worsened the lenders already slow relative growth rate. Source Adaeze Nwachukwu, Proshare Research Read More 


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Tijjani Borodo - An Excursion in Leadership and the Ties that Bind - Autobiographies and biographies can be heavy slogs. The trouble is that readers must wade through tomes of random musings which provide very little insight into the character and nature of the author or provide guidance on how the author navigated critical periods of his or her life and the decision-making processes. Source Teslim Shitta-Bey, Managing Editor, Proshare Research Read More

Understanding the Employer's Entitlement to Liquidated Damages When there is Sectional Completion - It is a common practice for parties in large commercial construction projects to agree to complete works in sections or phases. Completion of works in sections enables the employer to take over parts of the works while construction continues on other parts. Source Osinachi Nwandem (Associate, AELEX) Read More

Nigeria, Morocco Entrepreneurs Establish Business Council - Following an agreement to boost economic cooperation, a Nigeria-Morocco business council has been established by entrepreneurs from Nigeria and their Moroccan counterparts. Source Punch Read More

Financial Autonomy: Judiciary Workers Commence Strike Tuesday - Judiciary workers will from Tuesday commence an indefinite strike to protest the non-implementation of financial autonomy for the judiciary. While the federal government has allowed for financial autonomy of the third arm of government, state governments were however yet to give financial independence to states' Judiciary. Source THISDAYLIVE Read More

'$601m airlines' revenue blocked in 17 African countries' - The International Air Transport Association (IATA) has expressed worry over the trapping of $601 million airlines' revenue blocked in 17 African countries since the onset of COVID -19 over a year ago. Blocked funds are owed to airlines that could not be repatriated to their country in routes they fly to. Source The Nation Read More

APM Terminals, Apapa, Acquires 7 New Forklifts - Terminals, Apapa, has acquired seven new forklifts to facilitate customs examination and improve on movement of heavy materials at the terminal. The Chief Operating Officer (COO) of Nigeria's leading container terminal operator, Apapa, Mr Steen Knudsen, disclosed this in a statement issued on Monday in Lagos. Source The Guardian Nigeria Read More

Dow, S&P 500 Rally to Records, Boosted by Strong Economic Data - U.S. stocks rallied on Monday, as a round of strong economic data on the labor market and services sector buoyed investor optimism for the economic reopening and a muted climb in the 10-year U.S. Treasury yield kept inflation worries at bay. Source Reuters Read More


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Nigeria's Next Sukuk Issuance Should Be Green-Based - Dr. Umar Idris - Nigeria's next Sukuk Issuance should be Green-based, supporting sustainable development in the country. Dr. Umar Mohammed Idris Founder/CEO of Tiyoma Consultancy and Associate Professor of Islamic Banking and Finance at Umm Al-Qura University, Saudi Arabia, made this point while discussing developments in the Nigerian non-interest finance market. Source Bukola Akinyele-Yisau for WebTV Read More

M36 and Sankore Investment Host Joint Webinar on Investing in Today's World - M36, a new digital lifestyle and investment platform powered by Union Bank, has announced the launch of a webinar series designed to equip participants with an in-depth understanding of wealth management, investment and savings. Source M36 Read More

NDIC Boss Charges Auditors on Accuracy, Integrity - In order to earn public confidence and respect within the financial services industry, professional auditors who are members of the Institute of Chartered Accountants of Nigeria (ICAN) must uphold the core values of "Accuracy and Integrity" which is also the motto of the Institute. Source THISDAYLIVE Read More

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