Business ‘Import-Substitution Key To Post-Pandemic Growth For Businesses’ July 6, 2020 Ekemini With the sustained decline in the nation’s foreign reserves in the past months, some experts have advised Nigerian business owners, particularly the raw-materials-import-dependent ones, to begin to explore opportunities for…
Business Dollar Steady Ahead Of Services Sector Data, Rising Stocks Sink Yen July 6, 2020 Ekemini The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector stopped contracting, which would further lift hopea for an economic…
Local Nigeria Gets 2021 Deadline To Stop Dirty Fuel Imports July 6, 2020 Ekemini The Federal Government may have up till 2021 to stop the importation of dirty fuel into the country. The indication came on the heels of a recent report by international…
Local Naira To Depreciate Further As Demand Gap Widens July 6, 2020 Ekemini The Central Bank of Nigeria (CBN) may be forced to further retract its defence and depreciate the naira as the apex bank increased the bid price for foreign exchange at…
Business Equity Investors Rake N1.66tr Gains In Q2 July 6, 2020 Ekemini Nigerian equities witnessed a major recovery in the second quarter with positive average return of 14.12 per cent within the three-month period, representing net capital gains of N1.656 trillion. The…
World Citibank Boss Tasks FG On Reforms To Increase FDIs July 6, 2020 Ekemini The Cluster Head in Sub-saharan Africa (SSA), Citibank, Mr. Akin Dawodu has advised the federal government to initiate reforms that would increase foreign direct investments (FDIs) in Nigeria in order…
Local Passengers To Pay Double For Domestic Flights July 6, 2020 Ekemini • NCAA Grounds 18 Aircraft, Bar Non-Compliant Operators • FAAN Issues Travellers’ Mandatory Safety Protocols • Palliative For Airlines Underway, Minister Assures Passengers planning to travel by air from Wednesday,…
Business After Hitting A 3-Year Low During The Week, Naira Stabilizes As Traders Wonder What Next July 6, 2020 Ekemini The CBN still continues to ward against currency speculators whon patronnize the black market. The exchange rate between the naira and dollar at the I&E remained stable on Frida, closing…
Local Six Airlines Resume Flight July 8 July 6, 2020 Ekemini Six domestic carriers: Arik Air, Aero Contractors, Air Peace, DANA Air, AZMAN Air and Max Air are set to resume flight operations July 8, 2020. Their resumption follows their compliance…
Local Sanwo-Olu: Churches, Mosques To Remain Shut In Lagos July 6, 2020 Ekemini •Cases hit 27,564, with 11,069 discharged and 628 deaths •FAAN rolls out guidelines for air travellers Governor Babajide Sanwo-Olu of Lagos State, yesterday dashed the hope of religious leaders in…
Local Arik Air Resumes Domestic Flights July 8 July 6, 2020 Ekemini Arik Air, on Sunday, announced the resumption of its domestic flights from July 8, following the Federal Government’s decision to re-open Lagos and Abuja airports for flight operations. The Arik…
Opinion Nigeria: The Politics of Electricity Tariff July 5, 2020 Ekemini Whether we like it or not, the issue of electricity tariff is a touchy one. In the power sector reform, we are always talking about power generation, transmission and distribution.…
Local Opinion Nigeria: N-Power, Unemployment And Peculiar Mess July 5, 2020 Ekemini With the current realities of unemployment and poverty in Nigeria, the country is in “peculiar” mess and on the brink of collapse. The situation is getting scarier on a daily…
Local Nigeria: 109,823 N-Power Beneficiaries Now Business Owners – Minister July 5, 2020 Ekemini The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq, claims no fewer than 109,823 beneficiaries of the N-Power Programme are now business owners. Farouq, in…
Local Nigeria Weakens Naira At Retail FX Auction In A Move To Align Rates July 5, 2020 Ekemini Nigeria’s central bank asked lenders to bid for forex at an auction 5% above its official rate of 360, traders said, in a move to weaken the naira as the…
Business World Oil Demand To Return To Pre-Pandemic Levels By 2022, Goldman Says, But Unlikely To Peak This Decade July 5, 2020 Ekemini KEY POINTS In a research note published Thursday, analysts at Goldman Sachs estimated global oil demand would decline by 8% in 2020, rebound by 6% in 2021 and “fully recover”…
Local Nigeria’s Debt Rose To 28.62 Trln Naira As Of March – Debt Office July 5, 2020 Ekemini Nigeria’s total public debt rose to 28.62 trillion naira ($79.5 billion) as of March, up 15% from a year earlier, the Debt Management Office (DMO) said on Friday. Africa’s largest…
Business Local Exposed: How Central Bank Of Nigeria Deliberately Prevents Naira From Appreciating Against United States Dollar July 5, 2020 Ekemini The apex bank, which has refused to disclose the exact foreign remittances it has received from 2016 to 2018, deliberately stocks the US dollars it receives on behalf of Nigerians…
Local COVID-19: Nigeria Govt Releases Guidelines For Air Travels July 4, 2020 Ekemini The Nigerian government has released new procedural guidelines for air travellers and other airport users. The new guidelines are issued against the backdrop of the approval that flight operations recommence…
Business Local Nigerian Central Bank Devalues Naira by 5.3% at Currency Auction July 4, 2020 Ekemini Nigeria’s central bank devalued the naira at one of its currency auctions, according to people familiar with the matter. The weakening comes after Governor Godwin Emefiele announced last month that…
Local Nigerian Lawmakers Want Monuments to Slavery in Lagos Removed July 4, 2020 Ekemini Lawmakers in Nigeria’s Lagos state, which includes the country’s commercial hub and biggest city, have asked for the renaming of sites and monuments named after slave traders and colonial officials.…
World Canada Bans Foreign Travelers Until At Least August July 4, 2020 Ekemini Canada has confirmed that its ban on foreign entry will be maintained until at least the end of July. Also extended is the requirement for returning Canadian citizens coming from…
Africa Enron Legacy Returns in Battle Over $80 Million Yacht July 4, 2020 Ekemini Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with U.S. and Nigerian authorities over the proceeds of the sale of…
Banking Business India Rupee’s Rally Leaves Traders Gauging RBI’s Forex Strategy July 4, 2020 Ekemini India’s rupee hit a three-month high after breaking out of a tight trading band, boosted by strong inflows and expectations that the central bank may be slowing its purchases of…
Local Local Airlines Set For Operations, Market New Rates July 4, 2020 Ekemini Local airlines yesterday marketed new fare rates as part of the preparation for flight resumption in the COVID-19 era. Some of the operators, apparently in line with the expected hike…
World The British Passport Stoking Controversy In Hong Kong July 3, 2020 Ekemini As China tightens its control over Hong Kong with a new national security law, the U.K. is offering some residents of its former colony a potential route out: a proposal…
Business Features Local Italy Prosecutor Says Eni, Shell Aware Of Bribes In Nigeria Case July 3, 2020 Ekemini Oil majors Eni and Royal Dutch Shell were aware that most of the money they spent to buy a Nigerian oilfield in 2011 would go in corrupt payments to politicians…
Business Local How Border Closure in Nigeria Aided Local Raw Materials Utilisation July 3, 2020 Ekemini Utilization of Local Raw-materials in the manufacturing sector increased marginally in the second half (H2) of 2019, attributable to the closure of the country’s land borders by the Federal Government…
Business Local CBN Expands The Scope Of Regional Banks In Nigeria July 3, 2020 Ekemini The Central Bank of Nigeria, pursuant to Section 8 (g) of the CBN Scope, Conditions & Minimum Standards for Commercial Banks Regulations No. 2010 as revised on September 4, 2019;…
Banking Local Opinion Technology Is Nigeria’s Mobile Money Data An Unsolved Puzzle Fintechs Toy With? July 3, 2020 Ekemini Here’s a simple question: How many mobile money agents are in Nigeria at present? Well, the answer is not so simple and it depends on who you ask. For starters,…
