‘Why Nigeria May Not Need Delayed $1.5b Additional World Bank Loan’
With the Department of Petroleum Resources (DPR) remitting at least $1.03bn to the Federal Government and an additional $600m underway…
Day: September 19, 2020
Oil Has Best Week Since June After Saudis Defend Market Recovery
Saudi Arabia’s warning to OPEC+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite…
What To Expect From The Markets This Week
Global Economy The U.S. Federal Open Market Committee (FOMC), in its latest Monetary Policy Meeting, elected to leave the key…
Currency That Never Gains Gets Ghana Central-Bank Lifeline
Ghana’s cedi has weakened every year since at least 1994. Now the central bank appears to have drawn a line…
Nigeria’s August Gross Revenues Tick Up On Higher Tax Receipts
Nigeria’s gross revenues inched up 0.8% in August to 682.1 billion naira ($1.79 billion) from the previous month as a…
FG Adds Emirates To List Of Banned Airlines
The federal government has withdrawn the approval granted to Emirates to conduct international flight operations in the country. Hadi Sirika,…
The Crypto Daily – Movers And Shakers – September 19th, 2020
Bitcoin, BTC to USD, slipped by 0.02% on Friday. Following on from a 0.11% decline on Thursday, Bitcoin ended the…
Dollar Falls Against The Yen, Sterling Dips On COVID Worries
The U.S. dollar lost ground to the Japan’s yen for the fifth straight day and the yen was at a…
FG Apologises, Says Self-Certification Order Not For Everyone
The Federal Government on Friday, apologised to Nigerians over a tweet on its twitter account on Thursday, which notified the…
Deregulation: More Investors Eyeing Modular Refineries
The Department of Petroleum Resources has said more investors are showing interest in establishing modular refineries in the country following…
In Search Of A Second Passport? You’re Not Alone
Before the coronavirus pandemic, holding a U.S. passport granted visa-free access to 185 countries around the world. The American passport…
Nigeria Counts On Gas To Ease Pangs Of Fuel Subsidy Cuts
Nigeria is counting on gas-powered vehicles to help it reduce reliance on gasoline and improve its climate credentials while easing…
Nigeria, EU In Closed Door Meeting Over Air Space Restrictions
European Union (EU) has urged the Nigerian government to have a rethink over restrictions placed on KLM, Lufthansa, and Air…
Dollar Extends Losses; Kiwi Dollar Hits 18-Month High
The dollar extended overnight losses on Friday after data on Thursday pointed to a slowdown in the U.S. economic recovery,…
Visa Ban: Don’t Disrespect Nigeria, FG Tells US, UK
The Federal Government has frowned on the statements issued by the United States and the United Kingdom on the governorship…
Military Destroys Illegal Refineries, Recovers Stolen Crude
The Defence Headquarters says military has intensified its aggressive fight against crude oil theft, pipeline vandalism, bunkering, economic saboteurs and…
Dollar Down Over Disappointing U.S. Data, Bleak Economic Outlook
The dollar was down on Friday morning in Asia, with disappointing U.S. employment data dampening both the economic outlook and…
Oil Gets A Lift From EIA Supply Data, Moves Back Above $40
Oil prices rose back to above $40 a barrel, after U.S. government data showed a crude stockpile draw more than…
Why Nigeria Wants Financial Account Holders To Submit Self-Certification Forms
In Nigeria, every financial account holder, both individual or corporate, will now be expected to obtain a self-certification form and…
Quarantine Measures In Nigeria, 34 Others Stall Aviation Restart
Resumption of flight services notwithstanding, shades of quarantine restrictions in Nigeria and 34 other countries in Africa and the Middle…
External Debt Service Under Control
Total debt service on the FGN’s external obligations amounted to US$287m in Q2 2020, divided between US$157m and US$130m on…
Pound Swings Amid Second UK Lockdown Scientist Recommendation
The pound (GBPUSD=X) had a turbulent start on Friday morning after leading scientists from the Scientific Advisory Group for Emergencies…
FG Makes U-Turn: All Account Holders Don’t Have To Re-Register With Banks
The Federal Government has apologised for misleading the public when it ordered all account holders in the country’s financial institutions…
Concerns Over Flight Disruptions By Labour Unions
Industry stakeholders have appealed to the federal government to wade into the industrial dispute rocking some of the airlines which…
Currency In Circulation Dropped To N2.39tn In August – CBN
The currency in circulation dropped by N25.03bn from N2.39tn as of the end of July to N2.36tn as of the…
FG Orders All Bank, Other Account Holders To Re-Register
The Federal Government has ordered all account holders in the country’s financial institutions to register their details again. The order…
Onne Port Gets Facelift With Two New Mobile Cranes
The West Africa Container Terminal (WACT) Onne has received two more state-of-the-art Mobile Harbour Cranes (MHCs) and two 45 tons…
Strong Retail Sales Data Helps Sterling Regain Some Ground
Sterling edged slightly higher against the euro and the dollar on Friday as data showed that British shoppers continued to…
NNPC Recorded N20.365b Trading Surplus In July
THE Nigerian National Petroleum Corporation (NNPC) has recorded an increased trading surplus of ¦ 20.36billion in July 2020 compared to…
Cedi’s Stability Backed By Ghana’s Diverse Export Base – Economist
Economist with DataBank, Courage Kingsley Martey is confident the Ghana Cedi will remain stable when compared to its peers on…