CBN Debits Banks N122bn, Moves To Unify Exchange Rates
The Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency…
Day: July 7, 2020
UK House Prices Fall For Longest Period Since 2010 – Halifax
British house prices fell for a fourth month in a row in June as COVID-19 continued to depress the market,…
Risk-On Move Dents Dollar; Yuan Notches Best Day Since December
The yuan on Monday recorded its best day against the dollar since December as investors lapped up risky assets on…
Nigeria: CBN Bows To Pressure, Devalues Naira Again
• ‘Timing coincidental, nothing to do with IMF, World Bank’ • Economists advocate currency, lifestyle audit • Moghalu, Sanusi, others…
Dollar Regains Footing As Investors Eye Lockdown Risks
The dollar found some traction on Tuesday, as risks from rising coronavirus cases offset strong economic data and kept a…
Nigeria: Buhari Bars VIPs’ Aides From Airport Terminals
The President, Major General Muhammadu Buhari (retd.), has given an approval to the Federal Ministry of Aviation to stop all…
We May Propose Fresh Lockdown After Two Weeks, Says Task Force
The Presidential Task Force on COVID-19 on Monday lamented the increasing rate of COVID-19 cases among people in government, saying…
Nigeria: FG Constitutes COVID-19 Protocols Enforcement Team
The Federal Government on Monday said it had positioned enforcement teams within and outside airport terminals to enforce all safety…
Sterling Near Three-Week Highs Before Government Releases Spending Plans
Sterling held near a three-week high against the dollar and gained against the euro on Tuesday as investors waited for…
Nigeria’s Inflation’ll Average 12.2% In 2020, Says PwC
PwC Nigeria has said the headline inflation in Nigeria will average 12.2 per cent in 2020, compared to 11.4 per…
Nigeria: EFCC Chair Magu Detained
FOR hours on Monday, Acting Chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Magu testified before a panel…
Nigeria: ‘There’s No Free Dollar In Edo’ – PDP Taunts Ganduje
The Peoples Democratic Party (PDP) has taunted Abdullahi Ganduje, governor of Kano state, over the jibe he threw at Nyesom…
Border Closure: 3m Jobs Lost As Tough Times Hit Communities
Barely 10 months after closing Nigeria’s land borders over alleged security breaches and abuse of international trade facilitation procedure, the economy…
Nigeria: Buhari Must Ask Magu To Step Aside Now For Investigation
The Peoples Democratic Party (PDP) has asked the President Muhammadu Buhari-led administration to show the genuineness of its war against…
Canada’s PM Trudeau rules out Washington meeting with Trump
Canadian Prime Minister Justin Trudeau will not visit Washington with Mexico’s president this week to celebrate a new North American…
China Imposes Checks On Large Transactions After Bank Runs
China imposed a program to keep large transactions in check amid heightened concerns over the state of its financial system…
Back To Work? Not Without A Check-In App, Immunity Passport
To go anywhere in Singapore these days, Joni Sng needs mobile phone apps and other technologies: a QR code to…
Oil Mixed On Tighter Supply, Surge In U.S. Virus Cases
Oil prices were mixed on Monday, with Brent crude edging higher, supported by tighter supplies and positive economic data, while…
Analysts Predict Outlook For Naira As Forex Unification Plans Gain Momentum
The exchange rate between the naira and dollar may move in the positive for Nigeria’s local currency, according to views…
Coronavirus: How ‘Immunity Passports’ Could Create An Antibody Elite
Governments around the world are testing citizens for coronavirus antibodies, to work out whether people have had the deadly Covid-19…
Oil Producers Will Fight For Market Share As Consumption Growth Slows: Kemp
Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound…
GSK, Sanofi to agree $624 million deal with UK for COVID-19 vaccine
British and French pharmaceutical giants, GlaxoSmithKline (GSK) and Sanofi are close to reaching a $624 million (500 million pounds) deal…