No-Deal Brexit To Hit UK Economy ‘Three Times As Hard’ As COVID-19
The economic damage of a no-deal Brexit would be “two to three times” greater than COVID-19 over the long run,…
Day: September 23, 2020
Exclusive: Nigeria’s Buhari To Send Long-Awaited Oil Reform Bill To Senate
Nigerian President Muhammadu Buhari has signed a long-awaited oil-reform bill and it will be formally presented in the Senate as…
Fed Govt Eyes Forex From Methylformate
DEVELOPMENT of domestic capacity in methylformate-based innovations and production will boost the country’s foreign reserves and enhance its compliance status…
Wrong Economic Decisions Affect Nigerians, Says Sanusi
A former Emir of Kano, Muhammadu Sanusi II, has lamented the effects of wrong economic decisions on Nigerians. He said…
CBN’s Directive On Destination Payment For All Form M, Letter Of Credit And Other Forms Of Payment
The Central Bank of Nigeria (CBN) issued a Circular Ref. No. TED/FEM/FPC/GEN/ 01/005 of 24 August 2020 to the effect…
CBN Prepares For Recession, Reduces Benchmark Lending Rate To 11.5%
The Central Bank of Nigeria on Tuesday reduced the Monetary Policy Rate by 100 basis points from 12.5 per cent…
The Upward Creeping Foreign Exchange Rates: Blame The CBN
In recent times, any adjustment of FX rate by the CBN in an attempt to reduce the gap between the…
Low Remittance: FG To Deploy Revenue Directors To NPA, NIMASA, Others
Challenged by dwindling revenue and crippling debt amid the COVID-19 pestilence, the Office of the Accountant-General of the Federation (OAGF)…
British Lawmaker Expresses Concern Over Growing Violence In Nigeria
A member of the British House of Lords, Upper House of the Parliament of the United Kingdom (UK), Baroness Anne…
Fresh Concern Over Contract Secrecy In Nigeria’s Oil, Gas Sector
The secrecy shrouding terms and conditions of contracts in Nigeria’s extractive sector has, once again raised concern for stakeholders, especially…
UPDATE 2-Nigeria’s Central Bank Cuts Benchmark Rate To 11.5% In Unexpected Move
Nigeria’s central bank cut its benchmark lending rate on Tuesday by 100 basis points to 11.5% in a surprise move…
Dollar Rises On Coronavirus Unease, Aussie And Kiwi Hurt By Rate Outlook
The U.S. dollar rose against major currencies on Wednesday, supported by positive U.S. economic data and concerns about a second…
Ex-CBN Director Lauds CBN On Benchmark Interest Rate Reduction
Dr Titus Okunrounmu, a former director, Budgetary Department of Central Bank of Nigeria (CBN), has commended the Monetary Policy Committee…
Pound Hovers Near Two-Month Low As UK Unveils Coronavirus Second Wave Fears
GBPUSD=X) in the early hours of trading on Wednesday, following UK prime minister Boris Johnson’s address to the nation.” data-reactid=”32″…
Coronavirus Accelerates Nigeria’s Digital Banking Push
Civil servant Amos Dam is frustrated after waiting two hours to enter a bank in Nigeria’s capital Abuja. He is…
Oil Edges Up To $42, Eyeing Libya And U.S. Inventories
Oil edged up to around $42 a barrel on Wednesday supported by rising investor risk appetite and a report that…
Euro Falls To Two-Months Low As COVID-19 Angst Boosts Dollar
The euro fell to a two-month low on Wednesday as positive U.S. economic data and concern about a second wave…
Import Duty Rises 6% As Customs Begins Application Of New Exchange Rate
IMPORTERS and their agents have said that a 5.0 per cent increase is now effected in duty payable on all…
CBN To Share In Farmers’ Losses
The Central Bank of Nigeria on Tuesday said going forward, it would be sharing the losses incurred by farmers on…
Sterling Extends Losses After New COVID-19 Restrictions
Sterling is having its worst month in four years and extended its fall against the dollar and euro on Wednesday…
Here’s The Email Elon Musk Sent Tesla Employees With 10 Days Left In Q3
On Sunday evening, Tesla CEO Elon Musk sent an email to all employees at the electric vehicle maker saying the…
Billionaire Barry Diller Calls Stock Market ‘Great Speculation, Urges Everyone To Save Cash
Billionaire media mogul Barry Diller on Tuesday urged investors to maintain sizable cash positions following the stock market’s robust rally…
Stitch Fix Shares Plummet After Personal Styling Service Swings To A Loss
Stitch Fix shares dropped by more than 14% in after-hours trading Tuesday as the company reported steep losses for the…
House Democrats Push To Renew Efforts For Second Round Of $1,200 Stimulus Checks
The stimulus stalemate has left lawmakers at odds over how to get more relief to millions of Americans who need…
Jamie Dimon Says He’s OK With Higher Taxes On The Rich, But Wealth Tax Is ‘Almost Impossible’
SINGAPORE — J.P. Morgan Chase’s Chief Executive Jamie Dimon said he’s not against higher taxes on the rich, but a…
Nike Shares Soar As Online Sales Jump 82%, Retailer Sees Rebound In China
Nike shares soared 13% in extended trading Tuesday as the company reported an 82% increase in online sales and offered…