Naijabizcom

The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele says about 1.2 billion dollars worth of fish is imported into this country annually.

Emefiele disclosed this in a meeting while briefing some state Governors and the media on the feat recorded so far in agriculture for economic growth, in Abuja on Thursday.

The Federal Government has inaugurated an Inter-Agency Task Force in its bid to recover over N5 Trillion outstanding debts owed the Asset Management Corporation of Nigeria (AMCON).

The task force, chaired by the Chairman, Independent Corrupt Practices and other related offences Commission (ICPC), Prof. Bolaji Owasanoye, was constituted to resolve the challenges in recovering the debts.

The Management of Stanbic IBTC has said the bank facilitated $589.84 million capital inflow into the country during the second quarter of this year in what it described as a  clear demonstration of its confidence in Nigeria.
Chief Executive, Stanbic IBTC Holdings PLC, Yinka Sanni, in a release to the Nigerian Stock Exchange (NSE) assured Nigerians that the Bank remains strong, stable and sustainable in its operations as well as commitment to delivering long term value to its stakeholders

American music star, Jay-Z has and always will be one of the top earners in hip-hop, but for the first time ever he’s lost out to his former protege Kanye West. In the 2019 edition of Forbes’ highest-paid acts in hip-hop, Kanye West has come out on top with $150 million pretax income. Jay, meanwhile, sits at No. 2 with $81 million.

Ye’s astronomical rise in earnings can be attributed to the success of Yeezy, his signature footwear collaboration with Adidas.

The Bank of England has signalled that prolonged Brexit uncertainty will keep interest rates lower for longer.

Policymakers said the UK would avoid falling into recession this year, but warned that Brexit and trade worries were weighing on the economy.

The Bank kept interest rates on hold at 0.75%.

The Monetary Policy Committee (MPC) that sets interest rates also warned that a no-deal Brexit would hit the economy.

The US central bank has pumped more than $200bn (£160bn) into the financial system this week – the first time there’s been such an intervention since 2008.

The Federal Reserve’s aim was to stabilise what is usually a calm part of the market.

Interest rates in the so-called “repo market” had shot up to 10% in some cases – although the cost of borrowing in that market more typically hovers around the benchmark rate set by the Fed – around 2%.

Bank of America has joined Marco Polo, a consortium working to bring efficiencies to international trade using blockchain technology.

Founded by startups R3 and TradeIX, Marco Polo is built on R3’s Corda blockchain platform. The network aims to deliver real-time connectivity, greater visibility for trading relationships and lower barriers to accessing capital.