In 2019, NNPC Spent N218.18bn On Ailing Refineries   Nigeria’s refineries under the management of the Nigerian National Petroleum Corporation incurred a total expense of N218.18bn in 2019. The refineries, namely Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company, recorded...

COVID-19: CBN Lists Conditions To Access N50bn Intervention Fund   The Central Bank of Nigeria has listed the conditions that must be fulfilled by individuals and companies willing to access it’s N50bn intervention fund. The apex bank had last week unveiled the fund in response to the...

Global Investment Banks Revenue Now $26.1bn The five largest global investment bank revenue hit $26.1billion last year, three per cent down, according to data gathered by LearnBonds, an international expert financial news service. The data said trade tensions, slow growth, and low-interest rates all left their...

Global Air Transport Revenue Loss Increases To $252bn   The International Air Transport Association says the expected impact of the coronavirus on global air transport has risen to $252bn. IATA updated its analysis of the revenue impact of the COVID-19 pandemic on the global air transport industry...

Africa Needs $100bn Economic Stimulus - Finance Ministers   Africa needs an immediate emergency economic stimulus to the tune of $100bn, owing to the COVID-19 outbreak, the African finance ministers have said. This is contained in a statement by Communication and Media Relations Department of the group,...

BoI Raises €1bn To Support MSMEs, Others   The Bank of Industry has raised a €1bn (about $1.11bn) medium-term syndicated facility from the international capital market to support micro, small, medium and large enterprises across key sectors of the Nigerian economy. With the successful conclusion of this...