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…
Month: July 2020
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…
In Nigeria, African Researchers Blaze A Trail In Virus Fight
At the time, Africa was almost literally the country cousin in terms of its status in world research, and Happi…
UK’s New Migration Visa Lures Nigerian Doctors
More Nigerian medical practitioners may leave the country as the United Kingdom yesterday announced new ‘Health and Care Visa’ policy…
OPEC Insists On Total Compliance With Oil Production Cuts
The Organisation of Petroleum Exporting Countries (OPEC) and its allied oil producers, known as OPEC+, yesterday insisted that defaulting countries,…
MTN Launches E-Sim To Boost Quality Services
MTN Nigeria Plc on Wednesday unveiled the trial of e-SIM services on its network to improve customer experience and maintain…
Seven Countries With Big And Small Population Problems
A major new study published in the Lancet medical journal suggests falling fertility rates mean nearly every country could have…
UK Frustrated Air Peace Attempt To Evacuate Nigerians
He said it was a demand for a Third Country Operator approval that forced the airline to engage the services…
Naira Plunges To Record Low Of N470 Against US Dollar On Black Market
The Nigerian Naira plunged further against the United States dollar on the black market on Tuesday as forex scarcity persists.…
U.S. Reverses Student Visa Curbs After Harvard, MIT Fight
Deal ends standoff that could have sent thousands back home Schools can now resume planning for the fall semester The…
Oil Theft, Illegal Refining: Nigeria’s Economy Bleeds As Illegal Activities Boom In Niger Delta
There are indications that oil theft and illegal refining have attain new heights in Nigeria as Shell Petroleum Development Company…