Diaspora Remittances In Dollars: Giving Beneficiaries Value For Money
In 2016, the CBN, in an effort to increase remittance inflows and improve the number of formal channels under which…
Year: 2020
LCCI: Nigeria May Remain In Recession Beyond 2021
Amid the resurgence of COVID-19, the Lagos Chambers of Commerce and Industry (LCCI) has predicted that Nigeria risks a further…
China’s Economy Set To Overtake U.S. Earlier Due To Covid Fallout
The Chinese economy is set to overtake the U.S. faster than previously anticipated after weathering the coronavirus pandemic better than…
What Is Expected In The Forex Market In 2021?
This year, the foreign exchange market was heavily impacted by the coronavirus pandemic. Currencies were often bought and sold based…
Can Oil Stocks Bounce Back In 2021
There’s no way to sugar coat things; 2020 was an abysmal year for the oil market. Crude oil prices are…
UK And Turkey To Sign Free Trade Deal This Week – FT
Britain and Turkey are set to sign a free trade deal on Tuesday, the first since Prime Minister Boris Johnson…
NPA Electronic Call-Up System To Decongest Ports
Come January 2021, the Nigerian Port Authority (NPA) will float the electronic version of its call-up system, which is expected…
EUR/USD 1Q Forecast: US Dollar May Rebound Vs. Euro As Fed, ECB Policies Diverge
US Dollar soared at the onset of the Covid-19 pandemic as panicked credit markets began to seize up, sending capital…
Explainer-How Will The EU-British Trade Deal Change Ties?
British and EU negotiators clinched a wide-ranging free trade deal on Christmas Eve, meaning commerce between the trading bloc of…
Nigeria’s Duty-Free Export To US Shrinks To $351.73m
Nigeria’s export to the United States under a duty-free policy declined in the first nine months of 2020, recording $351.73m…
Bitcoin All-Time Price High Surpasses $28K, BTC’s Half Trillion Market Cap Now Bigger Than Visa
Bitcoin markets have been seeing a lot of action this weekend, as the price of the crypto asset touched another…
Nigerians Now Taking Centre-Stage In Downstream Sector, Says DPR
Director, Department of Petroleum Resources (DPR), Sarki Auwalu, has said Nigerian indigenous oil companies are now taking the centre stage,…
Will Economy Be Better In 2021?
As 2020 draws to a close, many Nigerians look towards 2021 uninspired by the catatonic state of the economy. The…
Economic Crisis: Naira To Fall Further In January, Says CBN Report
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey…
CBN Revokes Licences Of Seven Payment Service Providers
The Central Bank of Nigeria (CBN) has announced the revocation of operating licences of seven payment service providers (PSP), and…
Oil Edges Higher After Brexit Deal, Gains Capped By Pandemic
Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week. The…
Mobile Payments Operators Request CBN To Reconsider Position On Diaspora Remittances
The Association of Licensed Mobile Payments Operators (ALMPO) has appealed to the Central Bank of Nigeria (CBN) to reconsider its…
Nigeria’s Stock Market Closes For Christmas With N2bn Loss
Trading reverses on NSE, closes for Christmas with N2bn loss Nigerian Stock Exchange (NSE) on Thursday reversed its uptrend, dropping…
Dangote Refinery, A Potential Game-Changer, Says Platts
The Dangote refinery in Nigeria will be a “potential game-changer” once it comes online, according to a report by Platts…
Naira Gains N10 On Dollar At Black Market, Trades N465/$1
The Naira continued to wax stronger against the United States Dollar as it gained N10 at the black market on…
British Finance Sector’s ‘EU Passport’ Set To Expire
On January 1, the European finance sector will lose a major player as Britain begins to chart its own course,…
NPA Electronic Call-Up System To Decongest Ports
Come January 2021, the Nigerian Port Authority (NPA) will float the electronic version of its call-up system, which is expected…
Foreign Reserves Remain Pressured
Over the past few months, severe pressure has been mounting on the country’s foreign reserves in face of dwindling oil…
Nigeria’s Forex Inflow Hits $21bn In Q3
The total amount of foreign exchange inflow into the economy in the third quarter of 2020 stood at $21.46 billion,…
Brexit Trade Deal Sealed: EU And UK Clinch Narrow Accord
Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one…
Another New Coronavirus Variant Found In Nigeria, Says Africa CDC
Another new variant of the novel coronavirus seems to have emerged in Nigeria, the head of Africa’s disease control body…
Sterling Gains, Dollar On Back Foot Amid Hopes Brexit Deal Imminent
Sterling extended gains on Thursday amid expectations a long-elusive Brexit deal was imminent, raising hopes the UK can avoid a…
CBN Directs Banks To Close Naira Remittances Ledgers
THE Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to close all ‘Naira General Ledgers’ used by…
Low Production Pushes Up Cement Price By 35%
The inability to meet market demand for cement coupled with low production volume by major cement companies in Nigeria have…
Oil Climbs As U.S. Inventory Draw, Brexit Deal Hopes Boost Risk Appetite
Oil extended gains on Thursday in light holiday trade as a drop in U.S. stockpiles spurred demand hopes, while hints…