‘Import-Substitution Key To Post-Pandemic Growth For Businesses’
With the sustained decline in the nation’s foreign reserves in the past months, some experts have advised Nigerian business owners,…
Month: July 2020
Dollar Steady Ahead Of Services Sector Data, Rising Stocks Sink Yen
The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector…
Nigeria Gets 2021 Deadline To Stop Dirty Fuel Imports
The Federal Government may have up till 2021 to stop the importation of dirty fuel into the country. The indication…
Naira To Depreciate Further As Demand Gap Widens
The Central Bank of Nigeria (CBN) may be forced to further retract its defence and depreciate the naira as the…
Equity Investors Rake N1.66tr Gains In Q2
Nigerian equities witnessed a major recovery in the second quarter with positive average return of 14.12 per cent within the…
Citibank Boss Tasks FG On Reforms To Increase FDIs
The Cluster Head in Sub-saharan Africa (SSA), Citibank, Mr. Akin Dawodu has advised the federal government to initiate reforms that…
Passengers To Pay Double For Domestic Flights
• NCAA Grounds 18 Aircraft, Bar Non-Compliant Operators • FAAN Issues Travellers’ Mandatory Safety Protocols • Palliative For Airlines Underway,…
After Hitting A 3-Year Low During The Week, Naira Stabilizes As Traders Wonder What Next
The CBN still continues to ward against currency speculators whon patronnize the black market. The exchange rate between the naira…
Six Airlines Resume Flight July 8
Six domestic carriers: Arik Air, Aero Contractors, Air Peace, DANA Air, AZMAN Air and Max Air are set to resume…
Sanwo-Olu: Churches, Mosques To Remain Shut In Lagos
•Cases hit 27,564, with 11,069 discharged and 628 deaths •FAAN rolls out guidelines for air travellers Governor Babajide Sanwo-Olu of…
Arik Air Resumes Domestic Flights July 8
Arik Air, on Sunday, announced the resumption of its domestic flights from July 8, following the Federal Government’s decision to…
Nigeria: The Politics of Electricity Tariff
Whether we like it or not, the issue of electricity tariff is a touchy one. In the power sector reform,…
Nigeria: N-Power, Unemployment And Peculiar Mess
With the current realities of unemployment and poverty in Nigeria, the country is in “peculiar” mess and on the brink…
Nigeria: 109,823 N-Power Beneficiaries Now Business Owners – Minister
The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq, claims no fewer than 109,823 beneficiaries…
Nigeria Weakens Naira At Retail FX Auction In A Move To Align Rates
Nigeria’s central bank asked lenders to bid for forex at an auction 5% above its official rate of 360, traders…
Oil Demand To Return To Pre-Pandemic Levels By 2022, Goldman Says, But Unlikely To Peak This Decade
KEY POINTS In a research note published Thursday, analysts at Goldman Sachs estimated global oil demand would decline by 8%…
Nigeria’s Debt Rose To 28.62 Trln Naira As Of March – Debt Office
Nigeria’s total public debt rose to 28.62 trillion naira ($79.5 billion) as of March, up 15% from a year earlier,…
Exposed: How Central Bank Of Nigeria Deliberately Prevents Naira From Appreciating Against United States Dollar
The apex bank, which has refused to disclose the exact foreign remittances it has received from 2016 to 2018, deliberately…
COVID-19: Nigeria Govt Releases Guidelines For Air Travels
The Nigerian government has released new procedural guidelines for air travellers and other airport users. The new guidelines are issued…
Nigerian Central Bank Devalues Naira by 5.3% at Currency Auction
Nigeria’s central bank devalued the naira at one of its currency auctions, according to people familiar with the matter. The…
Nigerian Lawmakers Want Monuments to Slavery in Lagos Removed
Lawmakers in Nigeria’s Lagos state, which includes the country’s commercial hub and biggest city, have asked for the renaming of…
Canada Bans Foreign Travelers Until At Least August
Canada has confirmed that its ban on foreign entry will be maintained until at least the end of July. Also…
Local Airlines Set For Operations, Market New Rates
Local airlines yesterday marketed new fare rates as part of the preparation for flight resumption in the COVID-19 era. Some…
The British Passport Stoking Controversy In Hong Kong
As China tightens its control over Hong Kong with a new national security law, the U.K. is offering some residents of…
Italy Prosecutor Says Eni, Shell Aware Of Bribes In Nigeria Case
Oil majors Eni and Royal Dutch Shell were aware that most of the money they spent to buy a Nigerian…
How Border Closure in Nigeria Aided Local Raw Materials Utilisation
Utilization of Local Raw-materials in the manufacturing sector increased marginally in the second half (H2) of 2019, attributable to the…
CBN Expands The Scope Of Regional Banks In Nigeria
The Central Bank of Nigeria, pursuant to Section 8 (g) of the CBN Scope, Conditions & Minimum Standards for…
Is Nigeria’s Mobile Money Data An Unsolved Puzzle Fintechs Toy With?
Here’s a simple question: How many mobile money agents are in Nigeria at present? Well, the answer is not so…