CBN Mute On FX As MPC Meeting Underwhelms
The Central Bank of Nigeria (CBN) announced its monetary policy decisions on Monday without addressing the acute dollar shortages in its…
Month: July 2020
‘Cassava Can Boost Nigeria’s Export’
The New Partnership for Africa’s Development (NEPAD) Business Group Nigeria (NBGN) has called for good policies and investments in cassava…
Preserving Forex Reserves, Raising Local Capacity Through Import Substitution
For decades, successive governments in Nigerian resorted to protective measures, including import restrictions and exchange rate control, to manage its…
Covid-19 Takes Toll On Kaduna Dry Port
Barely five months into the outbreak of the Coronavirus (Covid-19), some operators in the sector are already feeling the heat…
Towards A Digitalised Port System
One major issue dominated discussions at the parley of the chief executive officers of maritime agencies hosted by the Nigerian…
Euro Hits New Four-Month High After Pandemic Recovery Deal
The euro hit its strongest level since early March on Tuesday after the European Union (EU) struck a deal for…
Forex Uncertainty Worries Businesses As CBN Retains 12.5% Interest Rate
The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 per…
Nigeria Weekly Update – The Mystery Of The Parallel Exchange Rate
Until recently, the behaviour of the parallel exchange rate this year has been a mystery. Why did it not respond…
Nigeria’s Rating Suffers Blow From COVID-19, Oil Shock – Fitch
Fitch Ratings has said the coronavirus pandemic and the oil price shock have caused a severe impact on credit rating…
Nigeria: CBN Boosts Economy With N3.3tr Credit
The Central Bank of Nigeria (CBN) on Monday said it has facilitated a credit of N3.3trillion to the productive sectors…
Nigeria, Others Import $650bn Goods From Outside Africa – FG
Nigeria’s National Action Committee on the African Continental Free Trade Area on Monday said Nigeria and other countries on the…
Naira Devaluation: Good Policy With Grave Implications
As the monetary authorities advance in the unification of the exchange rates by devaluation of the Naira, experts warn of…
South Africa Bans Alcohol Sales Again To Combat Covid-19
South Africa has introduced new restrictions, including another ban on alcohol sales, to help contain the spread of coronavirus. A…
MPC To Retain Policy Rates As Analysts See Further Rise In Inflation
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meeting today is expected to retain its policy…
Unified Exchange Rate’ll Attract $25bn Diaspora Remittances –ABCON
The Federal Government’s move to unify multiple exchange rates in the country will attract over $25bn diaspora remittances according to…
Nigeria: Naira In An Age Of Pestilence
I remember when the Naira was born. It hatched out of the British Pound, and we celebrated it as though…
Shekel Could Sour As Central Banker Sees Bigger Economic Hit
After a strong week, the shekel is again testing pre-coronavirus levels. A resurgent outbreak could change all that. With cases…
Nigeria: FG To Save $300m From Barite Importation
The Minister of Mines and Steel Development, Mr Olamilekan Adegbite, says the Federal Government will soon ban the importation of…
Nigerian Banks To Limit Debit Card Spending Abroad To Ease FX Risk
Nigerian banks plan to reduce the amount customers can spend abroad using debit cards on Monday, two lenders said, as…
Where’s Crude Heading? Morgan Stanley Says To Watch The Oil-Gold Ratio
“The oil-gold ratio has historically been a poor indicator of future oil prices,” Morgan Stanley’s Martijn Rats and Amy Sergeant…
Nigeria’s Revenues Rise In June On Higher Oil, Tax Receipts
Nigeria’s gross revenues rose to 653.35 billion naira ($1.7 billion) in June from 517.8 billion naira in May due to…
Nigeria: Anxiety As Forex Scarcity Hit Banks
Indications are that most deposit money banks (DMBs) operating in the country are practically struggling to meet daily demands of…
Nigeria: Waiting on the Revised Petroleum Industry Bill
The much-sought sanity in the petroleum industry may soon be found if the promise by the federal government to transmit…
Nigeria: NNPC Suffers 47% Drop In Petrol Sales Revenue
The Nigerian National Petroleum Corporation saw its revenue from petrol sales plunge by 47.38 per cent to N107.61bn in April…
UAE Impounds Aircraft Operated By Nigerian Airline Over Safety Violations
Civil aviation authorities in the United Arab Emirates have impounded a private jet operated by a Nigerian airline (name withheld)…
Untold Magical Treasures Of Northern Nigeria
Way before the name ‘Nigeria’ was chosen, in the period that saw the rise and reign of powerful empires and kingdoms, the…
Nigeria: No More Hiding Place for Loan Defaulters
Individuals and companies, who have the habit of borrowing from banks, with the intention of not paying back, may now…
Nigeria Border Closure: Unsold Inventory Fell By N23.73b In 2019-MAN
The border closure may have been a blessing in disguise as local manufacturers reaped bountifully with many consumers patronising made-in-Nigeria…
Covid-19: Lagosians Groan As Prices Of Foodstuffs, Rent Soar
RESIDENTS of Lagos State may have to devise ingenious means of grappling with the economic impacts of the COVID-19 pandemic…
Nigeria: Women To Get 60% Of N220bn SME Fund – CBN
The Central Bank of Nigeria has said that women will be given 60 per cent of the N220bn Micro, Small…