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Foreign Stock Investors Withdraw N99.94bn
Foreign investors from the Nigerian stock market pulled out a total of N99.94bn in the first four months of 2021. According to data from the Nigerian Exchange Limited, the foreign portfolio investors injected N78.31bn into the market from January to April. Foreign portfolio investment outflow includes sales transactions or liquidation of portfolio investments through the…
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Nigeria Loses More To #TwitterBan (Part 1)
The Nigerian Government on June 4 announced – through the Ministry of Information and Culture– the indefinite suspension of Twitter’s operations in the country. “The Federal Government has suspended, indefinitely, the operations of the microblogging and social networking service, Twitter, in Nigeria,” the statements reads This suspension came after Twitter deleted a tweet by President…
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Armed Bandits Kill 88 People In North-Western Nigeria
Over 88 local vigilante (yan sa kai) have reportedly been killed in Danko/Wasagu local government area of Kebbi State after an attack by armed bandits on Friday, June 4, 2021.According to the police command in Kebbi State, armed bandits attacked over seven villages, killing at least 88 persons. According to Police PRO, Dsp Nafiu Abubakar…
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Freedom Of Expression, The Infeasible Concept In Nigeria
On June 1, 2021, Nigeria’s 78-year-old president via Twitter referenced the Nigerian Civil War of 1967-1970 while threatening fire and brimstone on alleged clamourers of secession in Nigeria. In his words, ” We would treat them in the language they will understand”. A few hours later, the tweet was deleted for violating Twitter’s guidelines on…
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NIN Data: Over Half Of Nigeria’s Population Are Unregistered
In the early weeks of December, the Nigerian Communication Commission issued a directive to all mobile network operators to deactivate all SIM cards that will not be duly registered with valid national identity cards by December 30, 2020. At that time, only 41.5 million Nigerians of the estimated 200 million, according to the commission, had…
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Number of IDPs In The World Reaches 55 Million
According to new reports published on Thursday by the Internal Displacement Monitoring Centre (IDMC) and the Norwegian Refugee Council (NRC), 40.5 million people became displaced within their countries due to Intense storms, persistent conflicts and violent attacks in 2020. This is the highest number of newly displaced persons in 10 years, which brings the total…
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ECOWAS, AU Suspends Mali Over Second Coup In 9 Months
The African Union (AU) and the Economic Community of West African States (ECOWAS) have suspended Mali’s membership with immediate effect following a second military coup in nine months. The Economic Community of West African States (ECOWAS) was the first to suspend Mali from the regional bloc on Monday, May 31, 2021. The decision was announced…
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Shoprite Leaves The Nigerian Market After 16 Years In Business
South Africa-owned chain of stores, Shoprite, has bid its final farewell to its biggest market Nigeria after 16 years of operation in the country. The grocery retail brand first announced its plans to exit the Nigerian market in 2020 after recording a decline in sales since 2018. According to the report, its international supermarkets (excluding…
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Oil Demand Shows Signs Of Recovery As Nigerian Rig Counts Hit 12
Going by the increase in rig counts in May, the International Association of Drilling Contractors (IADC) in Nigeria have revealed the oil market demand may be showing signs of full recovery in no time. Chairman of IADC, Nigeria chapter, Chuks Enwereji, of Shelf Drilling Offshore Services, disclosed at the 2021 HSE Awards & Technical Session…
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CBN To Loan $70,000 To SME’s And Households Affected By Covid-19
The Central Bank of Nigeria (CBN), through NIRSAL Microfinance Bank, has announced the reopening of its portal for Micro Small and Medium Enterprises (SMEs) as well as households affected by COVID-19 to access up to $70,000. According to the Central Bank of Nigeria, household owners whose livelihood was affected by the Coronavirus and business owners…