The Grammy Awards won by two Nigerian musicians, Burna Boy, and Ayo ‘Wizkid’ Balogun on Sunday in the 63rd annual Grammy Awards are the trending stories in Nigerian newspapers on Monday.
The Guardian reports that congratulations are rolling in as Burna Boy just won his first Grammy Award. His Album “Twice as Tall” which was nominated alongside four others including Malian band Tinariwen and US band Antibalas has just won the Best Global Music Album.
It is the second Grammy nomination for the singer, who has sold out London’s Wembley arena and broken a UK music chart and a Spotify streaming records with his Afrobeat and dancehall style.
He clinched his first nomination in 2019 in the same category, for his “African Giant” album, and while he did not win last year, music critics predict he may have a better chance now and they are right.
The report added that the song “Brown Skin Girl” which Beyonce featured Wizkid in has won the award for Best Music Video in the 63rd annual Grammy Awards.
He won the award alongside Beyonce, who owns the song and featured artists, Saint Jhn and Blue Ivy. The award will also go to Jenn Nkiru who directed the video.
The music video for “Brown Skin Girl” was featured in Beyoncé’s 2020 film Black Is King and was released separately on August 24, 2020.
The Punch says that the Nigerian National Petroleum Corporation may spend N102.96bn on petrol subsidy this month going by the recent pricing template for the commodity.
A Federal Government agency, Petroleum Products Pricing Regulatory Agency, on Thursday published the expected new lower and upper prices for petrol at retail outlets in March 2021, putting the rates at N209.61/litre and N212.61/litre respectively. It also put the ex-depot price of petrol for the month at N206.42/litre and pegged the expected landing cost at N189.61/litre.
PPPRA is the regulator of the downstream oil sector. It pulled down Thursday’s template for petrol with an explanation that the earlier published guiding price did not translate to a hike in pump price despite reflecting market realities.
However, the ex-depot price approved by NNPC for March was N148.6/litre and the corporation insisted that it had not and had no plan to increase petrol price this month.
Ex-depot price is the rate at which NNPC sells the commodity to depot owners, from where retailers make purchase before dispensing at the pumps in filling stations. “There is no increase in petrol price and our position is that the ex-depot price for petrol in March remains the same.
ThisDay reports that CRC Credit Bureau has launched CRC Returnex, a data enabled solution that provides lending institutions the means of using artificial intelligence to identify and retain borrowers in their portfolio.
This would enable lenders effectively profile borrowers that will likely take loans again, those that may borrow from other institutions and those who may stop borrowing in entirety or for a duration of time.
The Managing Director of CRC Credit Bureau Limited, Dr. ‘Tunde Popoola, stated that this innovation in Nigeria, the first in the credit reporting industry, is a solution that enables lenders manage their credit risk exposure while cost effectively channeling their marketing communications activities to the right customer base, thereby saving on marketing spend.
He said: “CRC Returnex offers lenders a means of prompt identification and retention of customers through an effective customer management process. With this solution, lenders can detect delinquent customers on time while driving customer loyalty.
“In this new normal, especially with the ongoing pandemic, it is paramount for lenders to become more data focused on all their business operations especially when it comes to risk analysis and marketing.
The Sun says that MTN Nigeria has announced the acquisition of additional 10MHz spectrum in the 800MHz band from Intercellular Nigeria Limited.
The Nigerian Communications Commission (NCC) approved the transaction and assigned the frequency to MTN Nigeria.
The leading mobile telcoms operator said the acquisition will significantly improve customer experience, in line with its commitment to deliver excellent service quality to subscribers.
Commenting on the acquisition, Karl Toriola, Chief Executive Officer, MTN Nigeria said, “Through this acquisition, we will be better positioned to support the deepening of broadband penetration in the country.
The added resources will also greatly impact our customers’ experience providing even better internet connectivity. It is our goal to keep finding ways to grant everyone access to a modern connected life.”
The Nation reports that Naira depreciated by 1.04 percent to N485 per dollar as the new Central Bank of Nigeria’s (CBN’s) Naira for Dollar Scheme failed to incentivize the foreign exchange (forex) market.
The apex bank’s Naira for Dollar Scheme aims at encouraging dollar remittances by paying N5 for every dollar received.
The scheme took effect from March 8, 2021 and is scheduled to end on May 8, this year. Most analysts at the weekend said the scheme amounted to indirect depreciation of naira and a policy somersault, stoking confusion and fears in the forex market.
At the parallel market, the naira depreciated by 1.04 percent to N485 per dollar, on the same trend with the Bureau De Change (BDC) segment, where naira depreciated by 0.42 per cent to close weekend at N477 per dollar.
However, at the official Investors & Exporters (I & E) window, naira appreciated by 0.24 per cent to close at N410 per dollar amid sustained rise in crude oil prices. Data provided by Cowry Asset Management showed that naira closed flat at N380.69 per dollar at the Interbank Foreign Exchange market amid weekly injections of $210 million by CBN into the forex market.
GIK/APA