IN THE NEWS

Daily Watch – Unemployment data imminent after 2-year hiatus, CBN chokes maize imports

The Central Bank of Nigeria has stopped the processing of Form M, a mandatory documentation process aimed to monitor goods brought into Nigeria, for the importation of maize or corn into the country. The CBN on Monday directed banks and those permitted to trade foreign exchange in the country to stop processing the document, which was created by the Federal Ministry of Finance and the financial regulator, to also enable the collection of import duties where applicable to the imported goods. Explaining the rationale behind this directive, the bank, in a circular signed by its director in charge of Trade and Exchange Department, O.S. Nnaji, noted that it was to boost local production of the farm product. According to CBN, the present global health pandemic, COVID-19, has caused many Nigerians to lose their jobs, putting a dent on the economy. It said the move was necessary to begin a process of economic recovery. New data from the Nigerian National Petroleum Corporation has shown that the country spent over ₦101 billion in the first three months of 2020 on petrol subsidy. The breakdown of the figure showed that the corporation spent ₦43.31 billion as subsidy on petrol in January, it incurred ...
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NEWS

Daily Watch – AGF spares mastermind of Taraba police killings, Most Kano mystery deaths are COVID-19

The Minister of Health, Osagie Ehanire has said that 50 ...
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Daily Watch – Business confidence plummets in May, PPPRA makes u-turn on full deregulation

There are indications that the Nigerian government is planning to ...
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Daily Watch – Marketers now free to fix petrol price, Katsina pulls out of bandit accord

Katsina has withdrawn from a peace deal it brokered with ...
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Daily Watch – COVID-19 slows gas flare progress, Community policing takes off in Lagos

The Federal Executive Council has approved the refund of a ...
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Daily Watch – Senate okays new borrowing & benchmark, Equatorial Guinea expels WHO rep

The Department of Petroleum Resources has put on offer 57 ...
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Daily Watch – Curfew relaxes as FG opens worship centres, Investors in local bourse win big in May

The Nigerian Government has announced the relaxation of the restriction ...
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Daily Watch – Nigeria passes 10k COVID-19 infections, Manufacturers grapple with ₦420bn backlog

Nigerian manufacturers recorded an overall inventory of unsold products worth ...
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Daily Watch – FG submits revised budget as CBN steps up, Air freight costs fall in East Africa

President Muhammadu Buhari on Thursday submitted a revised 2020 budget ...
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Daily Watch – COVID-19 restrictions suffocate West Africa trade, IMF wants dividend suspensions

Amnesty International has accused the Nigerian military of unlawfully detaining ...
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Daily Watch – GDP growth crawls 1.87% in Q1, July cargo programmes look upbeat

The Lagos State Internal Revenue Service (LIRS) has extended the ...
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Daily Watch – Worst case model sees 8.9% contraction, Lagos slashes budget by 20%

Annual inflation in Nigeria rose for the eighth straight month ...
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Daily Watch – Oil rig count falls sharply, Lagos doctors sit at home

The CBN will not support the importation of items that ...
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Daily Watch – Phased reopening extended, FIRS chief fires directors in presidential defiance

Nigeria's government says it will impose “precision” lockdown measures in ...
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Daily Watch – Cocoa exports suffer, FAAC expects no more than ₦2.4 trillion in 2020

The federal, states and local governments have received a total ...
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Daily Watch – Ekiti takes lead in RoW charge reduction, IEA expects record oil demand fall

There is growing concern that the lockdown measures to fight ...
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Daily Watch – CPS hits ₦10.5 trillion, Sub-Saharan Africa to lose $200 billion in 2020

The International Monetary Fund has projected that Nigeria and other ...
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Daily Watch – Thousands flee to Niger over NW insecurity, Rivers lockdown costs importers

Users of the Rivers and Onne Ports have complained about ...
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Daily Watch – Africa bleeds $65.7 billion monthly to COVID-19, CBN guarantees ‘orderly’ FX exit

Nigeria has put in place policies to ensure foreign investors ...
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Daily Watch – Crude exports to US fall by 60%, Nigerians spent ₦4.6 trillion eating out in 2019

The latest Energy Information Administration data shows that the United ...
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Daily Watch – COVID-19 funds to supplement budget, Nigeria bleeding 400k barrels to piracy each month

The International Maritime Bureau said Nigeria loses an average of ...
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Daily Watch – FG promises market-rate power tariffs, Senate moves to decentralise police

The Nigerian government has promised the International Monetary Fund that ...
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Daily Watch – 2 in 5 Nigerians live in poverty, NCDC warns of another lockdown

Data from the National Bureau of Statistics show that 82.9 ...
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