Coronavirus Lays Bare S.African’s Toxic Relationship With Alcohol
In few other countries in the world have COVID-19 and alcohol consumption become so dangerously intertwined. With 324,221 cases, South…
Day: July 17, 2020
Nigeria’s “Bond Lady” Tackles Public Debt With Strategy
As director-general of the Debt Management Office (DMO) of the Nigerian Ministry of Finance, Patience Oniha oversees the country’s public…
Oil Exposure Raises Questions For West Africa’s Big Banks In Age Of Coronavirus
West Africa’s major banks could suffer a spike in loan defaults as lower oil prices and the acute economic impact…
UK Begins Issuance Of Flexible Visa To Doctors, Others
The United Kingdom has announced a special type of visa for foreign healthcare professionals to work in Britain. The Health…
Over 370 Nigerians Asked To Leave U.S. ‘For Breaking Laws’
More than 370 Nigerians were ordered to leave the United States this year, after being found guilty of breaking immigration…
The Billion Dollar Broker Who Managed A Nation’s Oil Wealth
The wire transfer was just one of millions that ricochet through the global financial system every day. Starting at the…
Nigeria: Aliko Dangote’s $2 Billion Fertilizer Plant Set For February Start
Dangote Group’s fertilizer plant, now under construction in Nigeria’s biggest city of Lagos, will be ready to start production next…
Gokada App Founder Died Of Multiple Stab Wounds
The technology entrepreneur found slain and dismembered in his luxury Manhattan condominium earlier this week died of multiple stab wounds…
Illegal Oil Dealings: 3 Nigerians Sent To Prison
Justice Chuka Austine Obiozor of Federal High Court, Ikoyi, on Thursday, convicted and sentenced Ometoruwa David, Morford Meteku and John…
Oil Is A Wasting Asset, Why Are We So Addicted To It?
The oil industry is the benchmark by which the Nigerian economy rises or falls. But the cliché of this predicament…
Pound Set For Biggest Weekly Fall In A Month, Economic Gloom Weighs
The pound eased slightly in early London trade on Friday, set for its biggest weekly fall versus the dollar in…
UK Won’t Pay You Hazard Allowance, FG Tells Doctors Planning To Migrate
The Minister of Health, Dr. Osagie Ehanire, has told Nigerian doctors planning to emigrate to the United Kingdom to take…
Nigerian State Revenue Too Low To Power Economy
Nigeria’s government must improve tax collection because revenue is lower than the minimum amount required for the state to play…
Nigeria Refines Own Gold, Starts Stockpiling In Reserve
Nigeria has for the first time refined its own gold and purchased the refined product into a new gold reserve.…
Nigeria Loses $3b To Illegal Gold Smuggling In 6 Years
President Muhammadu Buhari has voiced concern that Nigeria lost close to $3b from 2012 – 2018 due to illegal smuggling…
Oil Falls As OPEC+ Plans To Raise Output While Virus Cases Increase
Oil prices fell 1% on Thursday after OPEC+ agreed to ease record supply curbs and as new infections of the…
CBN Seeks Power To Freeze Bank Accounts ‘Linked To Criminals’
The Central Bank of Nigeria is seeking sweeping powers to freeze bank accounts “linked to criminals in the country via…
Weekahead-African-FX-Kenyan, Nigeria Currencies Seen Weaker, Uganda’s Firmer
Kenyan and Nigerian currencies are likely to come under pressure against the U.S. dollar next week as Uganda’s shilling strengthens…
Dollar Dips After Rise In U.S. Retail Sales
The safe-haven U.S. dollar fell modestly in morning trading on Thursday after domestic retail sales data for June came in…
CBN Seeks Exclusive Right To Bank Licensing, Revocation
The Central Bank of Nigeria (CBN) has said, in line with international best practices and to avoid duplication of functions,…
E-Payments Value Drops By N96b
The Central Bank of Nigeria (CBN) has said the total volume of payments across payment channels fell by 26 per…
Nigerian Inflation Rises For 10 Months In A Row In June
Annual inflation in Nigeria rose for a 10th straight month in June, lifted by higher food and healthcare costs, the…
Euro In ‘Wait And See’ Mode Ahead Of Crucial EU Summit
The euro was flat against the dollar on Friday before a European Union summit that will try to reach agreement…
Dollar Climbs As Traders Focus On Weak Chinese Retail Sales
The U.S. dollar strengthened on Thursday as investors focused on poor Chinese retail sales instead of its stronger than expected…
Net Foreign Inflow Hit $9.35bn In February
The nation’s economy recorded a net foreign exchange inflow of $9.35bn in February. The Central Bank of Nigeria disclosed this…
Local Airlines Risk Collapse As Load Factor Declines
Operators push for bailout, open flights • 14-day quarantine threatens Nigeria’s aviation, 35 others Exactly a week after commercial airlines…
Canada Will Have To Rely On Immigration As Global Fertility Rate Plummets
Participants celebrate becoming Canadian citizens after swearing the oath of citizenship during a virtual citizenship ceremony held over livestream due…
Sterling Above $1.26 As Dollar Falls, Steady Vs Euro
Sterling was dragged up by a weaker dollar and an improvement in risk sentiment on Wednesday but traded flat against…
Pound Slips Below $1.26 As Risk Appetite Wanes
The British pound slipped on Thursday as risk aversion swept through markets, boosting the safe-haven appeal of the U.S. dollar…