Oil Gains After Big U.S. Drawdown; Eyes On OPEC Committee Meeting
Oil prices rose on Wednesday following a sharp drop in U.S. crude inventories, with the market waiting for next steps…
Month: July 2020
Nigeria: COVID-19 Cut Off 40% Of Our Revenue
The Federal Government’s revenue fell by 40 per cent due to the impact of COVID-19 pandemic, the Vice President, Prof.…
Stock Market’s Outlook Will Be Determined By H1 Results’
As investors await the first half reports of quoted companies, market pundits have said the outlook for the capital market…
Euro Hits Four-Month High Vs Dollar On Stimulus, Recovery Hopes
The euro rose to a four-month high against the dollar on Wednesday on hopes European Union leaders may agree on…
Riskier Currencies Gain On Vaccine Hopes; Dollar Hits One-Month Low
Risk sentiment was upbeat in currency markets on Wednesday, as signs of progress towards a COVID-19 vaccine and a Wall…
Confirm Airports’ Approval Before Selling Tickets, NCAA Warns
Airline operators have been directed to contact the Federal Airports Authority of Nigeria and the Nigerian Civil Aviation Authority on…
Debt Servicing May Limit Nigeria’s Productivity– OPEC
The servicing of debts by Nigeria may limit the Federal Government’s ability to increase economic productivity, the Organisation of Petroleum…
OPEC Adjusts Oil Demand To 8.9 Million Bpd
As uncertainty cloud extension of production cuts The Organization of the Petroleum Exporting Countries (OPEC), yesterday, revised downward its world…
Nigeria: Enugu Airport Reopens August 30
The Federal Government on Tuesday announced that the runway of the Akanu Ibiam International Airport, Enugu would be ready for…
Osinbajo Seeks End To Secret Business Ownership
THERE is need for stakeholders to curb the adverse effect of secret and beneficial ownership of corporate businesses on economies…
UK To Resume Visa Processing In Nigeria On July 28
The High Commission in a tweet on Tuesday said Visa Application Centres will be open in Abuja, Ikeja and Victoria…
Naira Remains Under Pressure At N465/$ On Black Market
Naira Exchanges at N465 to a US Dollar on the Black Market The Nigerian Naira remained under pressure at N465…
Naira Firms On I&E As CBN Stops Banks From Processing Maize Imports
The value of the naira went in different directions at the Nigeria Autonomous Foreign Exchange (NAFEX) and parallel market windows…
Nigerian Students On NDDC Scholarship ‘Stranded’ In Europe
Some students sponsored to Europe for post-graduate studies by the Niger Delta Development Commission (NDDC) are reportedly stranded abroad because…
COVID-19: Govt To Ban Some Countries From Nigeria
The Federal Government on Monday said it would ban citizens from some countries from gaining entry into Nigeria in order…
Inflation, Key Concerns of Nigerian Investors – Coronation Asset Management
Inflation and not losing money in investment schemes are two major concerns of Nigerian investors. Mr. Guy Czartoryski the Head…
Banks Now To Seize Defaulter’s Funds In Other Banks
The Central Bank of Nigeria, CBN, has issued guidelines on the Global Standing Instruction, GSI, which enables banks to seize…
Nigeria Cuts Oil Production To 1.4 Mbpd -OPEC
For the first time in many years, the Organisation of Petroleum Exporting Countries, OPEC, has confirmed Nigeria’s ability to cut…
Gokada CEO Fahim Saleh Found Dead, Dismembered In US
Fahim Saleh, founder and Chief Executive Officer of ride-hailing company Gokada, is dead. Saleh’ s dismembered and decapitated remains were…
Bitcoin Trading Sees Explosive Growth in Africa in 2020
Peer-to-peer Bitcoin trading volume hits new all-time highs in Africa While major cryptocurrency exchanges saw a significant decline in trading…
EU to Resist Further Travel Opening With New Virus Wave a Risk
The European Union will recommend keeping its external borders shut to Americans and most other foreigners for at least two…
Dollar falls on rising euro, higher U.S. stocks
The dollar fell in North American trade on Tuesday as the euro rose on optimism about the possibility of a…
Coronavirus Hastens the Rise of the Cashless Economy
Cashless transactions have spiked as company policies and consumer habits shift. But protections for people without bank and credit access…
Nigeria’s NNPC Fired 850 Workers, Many From Refineries, Oil Union Says
The Nigerian National Petroleum Corporation (NNPC) has fired 850 workers, many of them from refineries, amidst the coronavirus pandemic, an…
Bank Of England Debating Digital Currency Creation
The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.…
Banks To Place Chronic Loan Defaulters On Watch List
the Central Bank of Nigeria on Monday released the guidelines aimed at reducing non-performing loans in the banking sector and…
Nigeria Earned $206bn From Oil In Five Years
Nigeria, Africa’s top oil producer, generated $206.06bn in revenue from crude oil exports in the last five years, the Organisation…
Nigeria, China Finalising Negotiations On N43.24bn Ibadan Port
Negotiations between the Federal Government and China Railway Construction Corporation Limited for the construction of the Ibadan Inland Dry Port…
South-East Traders Protest High Demurrages At Ports
Traders under the aegis of South-East Amalgamated Markets Traders Association have protested high demurrage at ports across the country. They…
Nigerians Believe Rising Inflation’ll Weaken Economy
Many Nigerians believe that rising inflation will lead to a weaker economy, according to a survey by the Central Bank…