CBN – Economy Recorded U.S.$42.7 Billion Forex Inflow In First Quarter
The aggregate foreign exchange (forex) inflow into the Nigerian economy in the first quarter (Q1) 2020 was $42.71 billion, the…
Month: July 2020
Africa Starts To Have Second Thoughts About That Chinese Money
Dipak Patel can still recall the dizzying grandeur of his 2003 visit to Beijing’s cavernous Great Hall of the People:…
Sterling Edges Lower On No-Deal Brexit Reports, Gloomy Economic Prospects
The British pound fell on Wednesday on rising concern that the Brexit transition period will end without a deal between…
Currency Markets Resume Risk-On Rally, Shrugging Off U.S.-China Consulate Spat
Currency traders regained their risk appetite on Wednesday, shrugging off U.S.-China tensions and resuming the risk-on moves that have dominated…
Naira Weakens Despite Dollar Selloff
As the worldwide race for a coronavirus vaccine gathers pace and fiscal stimulus uplifts global sentiment, investors seem to be…
China Vows Retaliation After U.S. Shutters Houston Consulate
Beijing calls U.S. decision ‘unprecedented escalation’ State Department says move to protect intellectual property China vowed retaliation after the U.S.…
CBN Approves N50b Revival Fund For Textile Industry
The Central Bank of Nigeria (CBN) has announced N50 billion special mechanism funds to revive the ailing textiles industry. The…
Nigeria: Federal Govt Records N1.46tn Revenue Deficit In Q1
Gross federally-collected revenue fell by 36 per cent or N1.46tn below the quarterly budget estimate in the first quarter of…
Nigeria: Sirika Projects Resumption Of International Flights Before October
The Minister of Aviation, Senator Hadi Sirika, has rejected the October 15 date fixed for the resumption of international flights…
Nigeria: Kano Cancels Eid-Del-Kabir Festivities
The Kano State Government has ordered the cancelation of traditional Sallah festivities in this year’s Eid-del-Kabir in the state, as…
CBN: Economy Recorded $42.7bn Forex Inflow In First Quarter
The aggregate foreign exchange (forex) inflow into the Nigerian economy in the first quarter (Q1) 2020 was $42.71 billion, the…
Nigeria: NPA Halts Licences Renewal For Shipping Firms Over Holding Bay Crisis
The Nigerian Ports Authority (NPA), has stopped the renewal of licences for shipping firms who fail to provide holding bays…
Nigeria: “Third Mainland Bridge” Local Manufacturers Raise Concern About Alternative Routes
Local manufacturers, especially those in the Apapa zone, have expressed concerns about challenges that the closure of the Third Mainland…
FMDQ Securities Records N117tn Turnover In Six Months
9The FMDQ Securities Exchange recorded total turnover of N117.27 trillion in the Fixed Income and Currency (FIC) from January to…
Nigeria Targets Processed Cocoa Exports With $10 Million Plant
Nigeria’s southeastern Cross River state is setting up a 4-billion naira ($10-million) cocoa-processing plant to start operations in August and…
Italian Prosecutors Seek Jail For Eni, Shell Executives In Nigeria Case
Italian prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former…
Naira Exchanges At N472 To Dollar At Parallel Market
The Naira on Tuesday exchanged at N472 to a dollar at the parallel market in Lagos, the News Agency of…
Nigerian International Airports Not Shut Till October – NAMA
The Nigerian Airspace Management Agency (NAMA) has declared untrue the insinuation making the rounds that the Nigerian Airports will remain…
Euro Scales Fresh Four-Month Peak Vs Dollar After EU Virus Deal
The euro on Tuesday climbed to its highest against the U.S. dollar in more than four months after European Union…
Third Mainland Bridge Closes Midnight Friday – FG
The Federal Government says the partial closure of the Third Mainland Bridge in Lagos State begins from Friday midnight July…
Nigerian Government Begins Checks Into Documents Of Chinese In Nigeria
Nigeria’s House of Representatives has begun investigation into the immigration documents of Chinese immigrants living in Nigeria. The investigation, which…
Nigeria: NCAA Extends Ban On International Flights Till October
The Nigeria Civil Aviation Authority (NCAA) has issued a Notice to Airmen (NOTAM) stating that it is extending closure of…
Bullish Markets Lifts Pound To Six-Week High, Look Past Economy Woes
The pound rallied above $1.27 for the first time in six weeks on Tuesday as optimism over a coronavirus vaccine…
Foreign Reserves Decline by $494m to $36.1 Billion
Foreign reserves declined with falling revenue generation and weak oil prices in the month of July, according to the Central…
Nigeria Wants Banks to Alter 65% of Loans Amid Economic Fallout
Lenders are already busy reorganizing $20 billion of debt Banks can revamp credit terms without booking provisions Nigeria’s central bank…
Nigeria:Calabar, Kaduna, Yola Airports Open Amid Traveller Apathy
FG to shut airports in default of COVID-19 safety guidelines At least another two airports were yesterday certified ready and…
Nigeria: Clearing Agents Condemn Planned Concession Of Scanners To Foreigners
There is nothing like that, says Customs The Association of Nigerian Licensed Customs Agents (ANLCA), has criticised the planned concession…
Nigeria: Hope Dims For National Carrier Two Years After London Launch
FG insists on Nigeria Air as project gets priority in N27b bailout fund • Pandemic forecloses credible investors, technical partners…
NNPC Raises August Selling Prices Of Crude Oil
The Nigerian National Petroleum Corporation has increased the prices at which two of the country’s major crude oil grades would…
Nigeria Sets Up Committee To Drive Digital Identity Initiative
Nigeria‘s President Muhammadu Buhari has established a committee led by the Secretary to the Government of the Federation, Boss Mustapha,…