IMF Proposes $650bn Special Drawing Rights To Members — Kristalina Georgieva       The International Monetary Fund (IMF) is to propose a $650 billion Special Drawing Rights (SDR) to its member countries in the organisation’s efforts to boost their reserve positions. The Managing Director (MD) of the IMF,...

Nigeria Raked In $150m From Coconut Oil In 2020       The Minister of Agriculture and Rural Development, Sabo Nanono, on Wednesday in Benin disclosed that Nigeria generated $150m from the export of coconut oil and its derivatives in 2020. Speaking through his representative, Bernard Ukattah, a deputy...

2,210 Workers Withdrew N3.18bn From Voluntary Pension Contributions – PenCom       A total of 2,210 workers withdrew N3.18bn from their Retirement Savings Accounts with their respective Pension Fund Administrators in six months after making additional voluntary contributions, the National Pension Commission has said. PenCom said this in...

'How 10 MDAs Yielded Only N400m To Federation Account In 2019'       Ten of at least 11  (MDAs) that remitted revenues to the federation account in 2019, yielded a paltry N400 million to the N2.6 billion independent revenue realised during the period, a report has revealed. According...

Gencos Got N81.14bn Payment Assurance In 2020 – NERC       Power generation companies received N81.14bn as payment assurance from the Nigeria Electricity Bulk Trading Plc in 2020, the Nigerian Electricity Regulatory Commission has said. NERC disclosed this in its latest Key Operational and Financial Data of the...

Companies May Raise N1trn Corporate Debts In 2021       Commercial banks, international oil companies (IOCs), multinational companies, leaders in fast-moving consumer goods (fmcg) and financial technology (Fintech) firms may issue more than N1trillion corporate debts before year-end. Head, Research and Consulting, Agusto & Co, Prof. Jimi Ogbobine,...