Sterling Edges Lower Amid Second National Lockdown Threat
Sterling was under pressure on Monday as rising COVID-19 cases prompted Britain to consider a second national lockdown. The pound…
Month: September 2020
$500m Investment Lands In Kaduna
Gov. Nasir El-Rufai of Kaduna state, said his administration has attracted 25 new businesses worth over $500 million as it…
FG Monthly Oil Sales Revenue Tumbles By 75%
The Federal Government saw its crude oil sales revenue plunge by 74.89 per cent in July to a record low…
ByteDance Says It Will Own 80% Of TikTok Global, Contradicts Trump’s Claims Deal Has ‘Nothing To Do With China’
GUANGZHOU, China — Beijing-based ByteDance said it would own a majority stake in the new TikTok Global in the U.S.,…
Nigeria: Inflation, Forex Scarcity Worsens Woes In Manufacturing Sector
Growth rate in the manufacturing sector is projected to suffer further decline in September and third quarter of 2020 as…
SEC – Digital Assets Classification Aimed At Investor Protection
Securities and Exchange Commission (SEC) has explained that the recently-released statement on digital assets and their classification and treatment is…
CBN’s Poor Regulation Of BDCs Hurting The Economy
The CBN has been inexcusably weak in enforcing its own rules, reflecting how politics, sectionalism and elite interests fuel corruption…
Coronavirus Live Updates: Cruise Lines Submit Safety plan to CDC; Europe Likely To See Further Lockdown
U.S. deaths related to Covid-19 are quickly approaching 200,000, according to data compiled by Johns Hopkins University. It’s a dire…
CBN Investigates More Companies Over Suspected FX Infractions
In order to ensure that the country’s forex resources are prudently managed and used for the importation of priority goods,…
NNPC To Unveil Successful Bidders For Pipeline Rehabilitation Q1, 2021
Nigerian National Petroleum Corporation (NNPC) would in the first quarter of 2021 unveil the list of successful bidders among the…
Nikola Founder Trevor Milton To Voluntarily Step Down As Executive Chairman; Stock Plunges
Nikola announced early Monday that founder Trevor Milton is voluntarily stepping down from his roles as executive chairman and a…
Work On Oyo Dry Port Project In Progress
Oyo State Government has said work on its Ibadan Dry Port project is in progress. Director-General, Oyo State Investment and…
Oil Slides As Libya Production Resumes And Fears Grow Over COVID-19 Hit To Demand
Oil prices slid on Monday, as production looked set to resume in Libya and gloom spread over the outlook for…
Naira Falls At Black Market As Dollar Scarcity Hits The Forex Market
Nigeria’s exchange rate at the NAFEX window remained stable for the fifth consecutive trading day to still close at N386/$1…
‘Why Small Business Fail In Nigeria’
A former member of the House of Representatives, Abimbola Daramola, has revealed that many entrepreneurs fail in businesses as a…
Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator Warning
One of Nigeria’s most brazen crypto scams, Inksnation remains operational and still invites new investors some three months after the…
How Have Major African Currencies Performed This Year?
Africa’s top currencies have been hit greatly this year as a result of the coronavirus pandemic, but the Egyptian pound…
Naira Weakens As BDCs Fund Account Friday
Nigeria’s currency reversed Thursday’s gain as it weakened by N1.50k, exchanging with the dollar at an average rate of N465…
E-Customs Will Revolutionise Trade, Generate Revenue, Improve National Security — NCS
The Nigeria Customs Service (NCS) has called on Nigerians to embrace the recently Federal Executive Council (FEC) approved e-Customs project…
Nigeria Loses N5.8tr To Unauthorised Deductions, Non-Remittances
The Centre for Social Justice (CSJ) said Nigeria lost up to N5.786t between 2014 and 2017 due to unauthorised deductions…
Kaduna IRS Goes After Gaming Companies; Seals 40 Bet9ja Offices
The Kaduna Internal Revenue Service (KADIRS), has so far, shut down 40 bet9ja offices in the last seven days, in…
Euro-Zone Spare Cash Already In Trillions Eyes Another Milestone
The European Central Bank’s ultra-cheap liquidity injections next week may raise the amount of excess cash sloshing around the euro…
Exporters Explore Sea Option To Reach West, Central African Market
Nigerian non-oil exporters are tapping sea transport to reach the neighbouring west and central African markets as President Muhammadu Buhari’s…
Why FG Is Investing Massively In Railways, Seaports
The Federal Government’s focus on railway and seaport development is a necessity to drive the nation’s economy, according to the…
‘Why Nigeria May Not Need Delayed $1.5b Additional World Bank Loan’
With the Department of Petroleum Resources (DPR) remitting at least $1.03bn to the Federal Government and an additional $600m underway…
Oil Has Best Week Since June After Saudis Defend Market Recovery
Saudi Arabia’s warning to OPEC+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite…
What To Expect From The Markets This Week
Global Economy The U.S. Federal Open Market Committee (FOMC), in its latest Monetary Policy Meeting, elected to leave the key…
Currency That Never Gains Gets Ghana Central-Bank Lifeline
Ghana’s cedi has weakened every year since at least 1994. Now the central bank appears to have drawn a line…
Nigeria’s August Gross Revenues Tick Up On Higher Tax Receipts
Nigeria’s gross revenues inched up 0.8% in August to 682.1 billion naira ($1.79 billion) from the previous month as a…
FG Adds Emirates To List Of Banned Airlines
The federal government has withdrawn the approval granted to Emirates to conduct international flight operations in the country. Hadi Sirika,…