Nigeria Customs Rakes In N976.6 Billion In 8 Months Despite COVID-19
The Nigeria Customs Service (NCS) generated N976.6 billion from January to August, despite the COVID-19 pandemic, which led to the…
Month: September 2020
Emirates Airline Returns Abuja To Route Network
Emirates yesterday resumed passenger services to Abuja. The Airline had earlier resumed Lagos flights on Monday this week. The resumption…
Nigeria Borrowed N18.89tn Under Buhari
Nigeria’s debt public debt hit a total of N31.01tn at the end of June, the Debt Management Office announced on…
‘Trader Moni’ Beneficiaries Unwilling To Repay Loans –NSIP
Beneficiaries of ‘Trader Moni,’ one of the programmes of the Federal government’s National Social Investment Programme designed to reduce poverty…
Nigeria’s Largest Cement Makers See Profits Jump To 7-Year High Despite Covid-19
Nigeria’s biggest cement makers by market value appear to be doing relatively well despite the Covid-19 pandemic which has upended…
FG seeks $1.1B From Eni, Shell In Graft Case
The Federal Government yesterday asked a Milan court to order Eni and Royal Dutch Shell to pay $1.092 billion as…
Apple Announces September 15 Date For Online iPhone 12 Reveal Event
Despite acknowledging that this year’s iPhone launches will be delayed by a few weeks relative to their traditional late September…
Nigerians Are Sitting On Their Savings, Thwarting Lending
Nigerian companies are parking more of their funds in bank deposits, upending a push by the central bank to fuel…
UK Minister Under Scrutiny For Attacking Nigeria Over P&ID Court Case
Priti Patel, United Kingdom’s secretary of state for the home department, has come under scrutiny over her comments on the…
Shoprite To Leave Kenya After Announcing Plans To Close 2 More Stores
Shop-rite Holdings announced that it would leave the East African nation of Kenya after entering the market 2 years ago…
Lloyds Bank Sacks 865 Workers
Lloyds, the biggest domestic banking group in UK, had temporarily stopped job losses and restructuring early in the pandemic, with…
All Four Of Nigeria’s Refineries Are Currently Shut Down
All four of the refineries in Nigeria, Africa’s top oil exporter, are currently shut down, the group managing director of…
United Airlines Launches Direct Flight Between Lagos And Washington
United Airlines has announced plans to expand its global route network with a new, nonstop service between Nigeria and the…
Nigeria’s Debt Hits N31trn –DMO
The DMO set Nigeria’s entire debt at N31trn, indicating an increase of N2.38trn within a space of three months. The…
ECB Weighs Chance To ‘Talk Down’The Euro
The recovery is on. Economies across the eurozone are reopening and business is returning to normal, or at least as…
Pound Hits 6-Week Low On Brexit Fears, Implied Volatility Curve Inverts For First Time In 6 Months
The pound fell to its lowest level in six weeks against the dollar on Wednesday as new legislation by the…
How China Is Closing In On Its Own Digital Currency
While there’s no launch date yet, the People’s Bank of China is likely to be the first major central bank…
Weak Currency Discouraging Foreign Investment In Nigeria’s Economy
The federal government has been asked to take advantage of the global liquidity glut being experienced during the COVID-19 period…
ECOWAS Halts Single Currency Launch, Adopts Gradual Approach
The Economic Community of West African States has postponed the planned launch of its single currency, the Eco. The body…
Experts warn as ATMs breed dirty notes
Experts, yesterday, blamed the preponderance of dirty notes on corruption and lack of political will, as 22,000 Automated Teller Machines…
Niger Exports Fuel To Nigeria As Egypt, Algeria Build 13 Refineries
Neighbouring Niger Republic, which started commercial oil production in 2011, now exports petroleum products to Nigeria, as Egypt and Algeria…
Nigeria: FG Debt Now N24.52Tn, Recorded N561.71Bn Deficit – CBN
The Federal Government’s outstanding as of March 31 stood at the N24.52tn (excluding the states and the Federal Capital Territory…
UPDATE 1-Nigeria Asks For $1.1 Bln Advance From Eni, Shell In Graft Case
Nigeria asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.092 billion as an…
Marketer Free To Sell Petrol At Suitable Prices, PPPRA Tells Nigerians
Barely 24 hours after depot owners called for full deregulation of the downstream sector of the petroleum industry, the Nigerian…
Nigerian Stock Exchange Intensifies Efforts To Introduce Derivatives To The Nigerian Capital Market
As investors anticipate the launch of Derivatives trading in the Nigerian capital market, The Nigerian Stock Exchange (NSE or The…
Oil Slides 5% To Lowest Level Since June On Demand Fears
Oil slid 5 percent to below $40 a barrel on Tuesday, its lowest since June, over concerns that a demand…
CBN’s FX Interventions; Good Cheer But How Sustainable?
According to reports in the local media, the Central Bank of Nigeria (CBN) has resumed FX sales at the Investors…
Exchange Rate Is Weakened At NAFEX Window As Drop In Dollar Supply Continues
The Forex turnover dropped by 22% as Nigeria’s exchange rate at the NAFEX window depreciated to 386.21 during intraday trading…
Stronger Collaboration With CBN’ll Stabilise Naira –ABCON President
The Association of Bureau De Change Operators of Nigeria (ABCON), has called for stronger collaboration between the Central Bank of…
Lower Oil Prices Are Coming
Oil is entering a weak season at the same time that the monthly cycle peaks. The combination of the bearish…