Musk Asks Twitter Followers If He Should Sell 10% Of Tesla Stock
Tesla Inc Chief Executive Elon Musk on Saturday asked his 62.5 million followers on Twitter in a poll if he should sell 10% of his Tesla stock. The world’s richest person had previously said he could face a “massive” tax bill this year as he has to exercise a large number of stock options coming due […]
Nigerian Banks Shut Down 234 Branches, 649 ATMs In 2020— IMF
According to the International Monetary Fund (IMF), Nigerian banks closed 234 branches and 649 Automated Teller Machines (ATMs) in 2020, lowering the country’s Financial Access Score (FAS) to 4.44 in 2020, down from 4.78 in 2019. This was revealed in the IMF’s Financial Access Survey 2021 Trends and Developments, which was published yesterday. The international […]
Barclays CEO Staley Leaves Due To Findings Of Epstein Probe
Barclays (BARC.L) said on Monday that chief executive Jes Staley is to stand down following British regulators’ investigations into his dealings with Jeffrey Epstein. The bank said it was made aware on Friday evening of the preliminary conclusions from the Financial Conduct Authority and the Prudential Regulatory Authority’s investigation into Staley’s characterisation to Barclays of […]
Merchants Have Yet To Leverage On The eNaira App As Downloads Remain At 220,000
The initial euphoria that greeted the launch of the eNaira last Monday appears to have died down, as the number of downloads has decreased in the last five days, rising from around 180,000 on Tuesday to around 220,000 on Sunday. The number of downloads of the eNaira Speed Wallet and the eNaira Merchant Wallet combined […]
eNaira Speed Wallet Back On Google Store
The eNaira Speed Wallet app is back on Google Store 24 hours after a technical outage. The app had bagged more than 100,000 downloads before the sudden disappearance on Wednesday. However, the app had met with criticism as users battled to link their emails and BVNs. The spokesperson for the Central Bank of Nigeria (CBN), […]
Evergrande Makes Coupon Payment Before Friday Deadline
Developer China Evergrande Group has made an interest payment for an offshore bond before a grace period expired on Friday, two people with direct knowledge of the matter said, narrowly averting a catastrophic default for the second time in a week. Evergrande, once China’s top-selling developer, is reeling under more than $300 billion in liabilities, […]
Alphabet Beats Expectations On Google Ad Spike
Google owner Alphabet Inc on Tuesday beat expectations for third-quarter revenue, a positive sign that its advertising business is overcoming new limits on tracking mobile users and sending its shares up slightly. Through its search engine, YouTube video service and partnerships across the Web, Google sells more internet ads than any other company. Demand for […]
Interbank Liquidity Falls By 72% As Shortage Of Funds Worsens
The scarcity of funds in the interbank money market worsened last week, with market liquidity falling by 72 percent to N56.3 billion. According to a Financial Vanguard analysis of data from the Central Bank of Nigeria, the amount of liquidity (Opening balance) dropped to N56.3 billion on Friday last week from N200.64 billion the week […]
Nigeria’s Debt-to-GDP Ratio Expected To Reach 42% By 2026 – IMF
Nigeria’s government gross debt to Gross Domestic Product ratio is expected to climb to 42 percent by 2026, up from 35.7 percent in 2021, according to the International Monetary Fund. This was stated by the IMF in its Fiscal Monitor Report for October 2021, which was published on its website. According to the report, the […]
IMF Issues Warning To Debtor Countries On Their Expenditures
Following a spike in debt loads last year as a result of the pandemic, governments must now ‘calibrate’ spending, according to the IMF. According to the International Monetary Fund’s Fiscal Monitor report, global debt in 2020 “jumped by 14% to a record-high $226 trillion,” encompassing public and private borrowing. According to Vitor Gaspar, director of […]
