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…
Month: September 2020
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…
FG Slashes Spending On JV Oil Assets By 62%
Amid the coronavirus-induced sharp drop in its revenues, the Federal Government reduced its spending on oil and gas assets being…
Foreign Investors Losing Confidence In Nigeria’s Oil Industry —Kyari
The Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, has said there is a need for…
COVID-19: NCAA Threatens To Stop Domestic Flights Over Non-Compliance
The Nigerian Civil Aviation Authority on Monday says it observed that some airlines operating domestic flights in the country are…
Oil Falls To $41 As Economic Outlook Dims
The international oil benchmark, Brent crude, declined by about five per cent on Monday, as rising coronavirus cases stoked worries…
CBN Decries Speculation As Naira Plunges, Exchanges For 465/$
Declining export receipts from oil and speculative activities of the Bureau De Change operators among other challenges of the COVID-19…
Bank Of England Denies Negative Interest Rate Hint
Bank of England (BOE) governor Andrew Bailey has denied that the central bank’s latest policy statement implied that it would…
No Hike In Gas Prices For Domestic Market, GACN Clarifies
The Gas Aggregation Company Nigeria Limited (GACN) has said that its decision to review existing agreements used in transactions within…
Digital Euro Would Provide Alternative To Cryptos, ECB President Lagarde Says
The European Central Bank (ECB) is looking into the benefits and risks of a digital currency, according to its president,…
Your Bank May Not Be The Only One With Your Banking Information
There’s a popular misconception that banks are the only ones with account holders’ banking information such as their Bank Verification…
Chemical Union Seeks Reversal Of CBN’s Forex Policy
The National Union of Chemical Footwear Rubber Leather and Non-Metallic Products Employees (NUCFRLANMPE) has urged the Central Bank of Nigeria…
Nigeria Unexectedly Cuts Key Rate On Recession Threat
The Central Bank of Nigeria unexpectedly cut its key interest rate to the lowest since 2016 on concerns of a…
Update 1-Nigeria’s Cenbank Cuts Benchmark Rate To 11.5%
Nigeria’s central bank cut its benchmark lending rate on Tuesday by 100 basis points to 11.5% in an attempt to…
Dollar Bounceback Pauses, Aussie And Kiwi Regain Lost Ground
The tide of risk-aversion which saw the dollar hit new six-week highs early on Tuesday ebbed as the session wore…
Guide To Buying Land & House In Nigeria
Buying land in Nigeria involve various legal requirements and key procedures to be followed. The first key step towards purchasing…
How FG Spent N8.9t On Subsidy In 10 Years -PPPRA
The Petroleum Products Pricing Regulatory Agency (PPPRA) says the Federal Government has spent a total of N8.94 trillion on oil…
Leaked Documents Reveal Money Laundering Scam Worth $2tn
Several leaked documents have revealed how the world’s biggest banks enable criminals to launder money around the world. The documents…
Microsoft Buys Bethesda, The Company That Makes Hit Games Fallout, The Elder Scrolls, For $7.5 Billion
Microsoft announced Monday that it will buy ZeniMax Media, the company that owns well-known video game publisher Bethesda, for $7.5…
Here’s What A Biden Presidential Win May Mean For Your Social Security Benefits
The 2020 presidential election could be a make it or break it moment for Social Security. The reason: Social Security’s…
Foreign Reserves Rise By $140.9m, Now $35.81bn
The country’s foreign reserves rose by $140.9m from $35.67bn as of September 1 to $35.81bn as of September 17, the…
Forex-Dollar Slips, Yen Inches Higher As Fed Rhetoric In Focus
The dollar slipped and yen and yuan led Asia’s currencies a little higher on Monday, as investors looked ahead to…
Dow Drops More Than 600 Points As September Sell-Off Picks Up Steam
Stocks fell sharply on Monday as fears about the worsening coronavirus as well as uncertainty on further fiscal stimulus rattled…