Shippers’ Council To Shut Bonded Terminals Over Illegal Charges
The Nigerian Shippers Council (NSC) has threatened to seal up Denca and Kachicares bonded terminals over illegal storage charges as…
Month: September 2020
Sterling Edges Higher Ahead Of Sunak’s Speech
Sterling edged slightly higher on Thursday ahead of an eventful day with Chancellor Rishi Sunak expected to unveil a new…
BDCs Seek Approval For Electronic FX Trading
The Association of Bureaux De Change Operators of Nigeria (ABCON) yesterday appealed to the Central Bank of Nigeria (CBN) to…
The Yen Could Rally Strongly Against The Dollar
SINGAPORE — Expect the Japanese yen to strengthen dramatically against the dollar in the long run, according to a prediction…
Purchasing Managers’ Index Contracts In September
The Manufacturing Purchasing Managers’ Index (PMI) stood at 46.9 index points in September, indicating contraction in the manufacturing sector for…
Nigeria, Others’ Production Cuts’ll Rebalance Oil Markets
The production cuts by the Organisation of the Petroleum Exporting Countries and its allies are expected to result in a…
Turkey Stuns With First Rate Hike Since 2018 Currency Crisis
Turkey’s central bank raised interest rates for the first time since a currency crisis in late 2018, surprising most economists…
Nigeria To End Fertilizer Importation By 2023
Citing the over 33 fertiliser blending plants across the country, currently producing about five million metric tonnes (MT) of fertilizer…
European Stocks Close Higher With Euro Zone Data In Focus; Adidas And Puma Shares Rise
European stocks closed higher Wednesday as investors reacted to key data releases from the euro zone and weighed up the…
Facebook To Reject Political Ads That Prematurely Claim Election Victory
Facebook said Wednesday it would not allow people to run ads on its services that declare victory in the November…
Should Front-Line Medical Workers Get The Coronavirus Vaccine First? Not Necessarily
Health workers treating patients with the coronavirus may be at the top of the line to get a vaccine once…
Grand Jury Indicts Former Louisville Cop Brett Hankison In Breonna Taylor Raid, But No Charges Related To Her Shooting Death
A grand jury on Wednesday indicted a former Louisville, Kentucky, cop, Sgt. Brett Hankison, on wanton endangerment charges connected to…
Amazon Says It Didn’t Build The ‘Prime Bike’ And Tells Echelon To Stop Selling It
Amazon is distancing itself from the $500 “EX-Prime” bike launched by exercise equipment maker Echelon Fitness, after the product was…
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,…
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…