Budget Support: IMF, World Bank Conditions Behind Subsidy Withdrawal, Electricity Tariff Hike
The Federal Government’s removal of petrol subsidy and the increase in electricity tariff are in line with reforms being sought…
Month: September 2020
We’ve Eliminated Over 95% Of Trade Barriers Along Borders For Member States – ECOWAS
The Economic and Community of West African States, ECOWAS on Monday said it has eliminated over 95% of trade barriers…
5,180 BDCs Get $51.8m On Forex Sales Resumption
About 5,180 Bureau De Change operators got $10,000 each as the Central Bank of Nigeria fully resumed foreign exchange sales…
Nigeria’s Capital Airport Resumes International Flights After 6-Month Shutdown
Activities were resumed at the international wing of Nigeria’s ever-busy capital airport Monday, as the country recorded its first batch…
150,000 Nigerian Passports Stolen Or Missing: NIS
About 150,000 Nigerian passports or travel documents may have either been stolen or lost, according to Nigerian Immigration Service records.…
Losses Mount At Idle Nigerian Refineries
There is little hope that state-owned refiners will resume production, partly due to Covid-19, while the new Dangote refinery is…
Naira Loses Ground Against Dollar
The Nigerian Naira depreciated against the US dollar in the parallel market on Monday in contrast to the massive gains…
Oil Prices Face A Chill Autumn Wind
As the summer driving season fades in the rearview mirror, oil markets are taking on a distinctly chilly air. The…
CBN Commits N662b To Banks’ Liquidity Control, Stability
Commercial and merchant banks accessed N662 billion loans from the Central Bank of Nigeria (CBN) to control their liquidity and…
Qatar Airways To Resume Four Weekly Flights To Lagos From Sep 10
Qatar Airways has resumed four weekly flights to Murtala Muhammed International Airport (LOS) Lagos, Nigeria from September 10. With the addition of Lagos,…
Covid-19 – Real Reasons FG Barred Air France, KLM, Lufthansa Others From Airspace
Ahead of Saturday’s resumption of international flights, the Federal Government of Nigeria on Thursday said only approved airlines would be…
Assessing CBN’s Interest Rate Cap On Savings Deposits
The Central Bank of Nigeria’s recent review of interest charge on savings deposits has the potential to spur growth as…
How The Coronavirus Pandemic Helped Convince Grocery Chains To Experiment With New Tech
Grocery chain Giant Eagle turned one of its stores into a checkout-less shopping experience. A handful of Price Chopper stores…
Tesla Could Be The Most Dangerous Stock On Wall Street
Tesla shares may be up 400% this year, but one investment researcher is sounding the alarm on the stock. New…
IEA Sees Oil Market Stuck Between No Major Slowdown But Stalled Recovery
The global economy is likely not headed for any major slowdown due to COVID-19 but piled-up storage and uncertainty over…
Pound Slides After Johnson Puts No-Deal Brexit Back On Table
Will Covid-19 Fallout Camouflage Cost of No-Deal Brexit? The pound fell after U.K. Prime Minister Boris Johnson ratcheted up the…
Nigeria: We Spent N31b In Four Months Fighting COVID-19 — FG
The Federal Government of Nigeria has disclosed that it “spent N30,540,563,571.09, representing 84% of the N36.3 billion public funds and…
How Fall Guys, A Battle Royale Game With Jelly Beans, Became This Summer’s Mega Hit
Fall Guys: Ultimate Knockout has rapidly become the hottest games of the summer, attracting millions of players within a month…
Ethereum’s 12% Plunge Batters DeFi Tokens
Traders were aware of the risks of investing in DeFi, or decentralized finance, this summer’s money printing bonanza that made…
Oil Skids After Saudi Price Cuts, Demand Optimism Fades
Oil prices dropped more than 1% on Monday after earlier hitting their lowest since July as Saudi Arabia made the…
Nigeria: NSE To Host Capacity Building Session On Derivatives
The Nigerian Stock Exchange (NSE) has announced to host a virtual training session for prospective derivatives products market participants on…
European Stocks Advance, Looking To Rebound From Last Week’s Losses
European stocks were higher Monday morning as investors monitor progress on various coronavirus vaccines, with markets looking to recover from…
Nigeria: CBN’s Interventions Halt Naira Slide
There are indications that stability is returning to the foreign exchange market as the value of the Naira appreciates in…
China Lands Its First Reusable Spacecraft As State Media Hails It As An ‘Important Breakthrough’
GUANGZHOU, China — China has successfully launched and landed an experimental reusable spacecraft, according to the state-run Xinhua news agency…
Emefiele Rebuilds Investor Confidence, Begins Clearing FX Backlog
Obinna Chima writes about major steps taken by the banking sector regulator to rebuild confidence in Nigeria’s financial market A…
Italy Opens Competition Probe Into Apple, Google And Dropbox’s Cloud Storage Services
Italy’s competition authority announced Monday it’s looking into cloud storage services run by Apple, Dropbox and Google after hearing several…
Africa’s Confirmed COVID-19 Cases Nears 1.3m
The Africa Centres for Disease Control and Prevention (Africa CDC), on Sunday, said the number of coronavirus positive cases has…
Gold Gains As Global Growth Worries Support Demand
Gold edged higher on Monday after weak U.S. data raised concerns over a quick economic rebound from the coronavirus-led slump…
Nigeria: N10.78tr Subsidy, Why FG May Not Reverse New Fuel, Electricity Rates
There were strong indications last night that the Federal Government may not reverse the new fuel pump price regime because…
Payrolls Increase By Nearly 1.4 Million As The Unemployment Rate Tumbles
Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued…