Reps Give CBN 48 Hours Ultimatum To Review Frozen Accounts
The House of Representatives has asked the Central Bank of Nigeria (CBN) to within 48 hours commence a review of…
Day: October 20, 2020
Naira Slides To N460 As BDCs Receive Over $50m Amid EndSARS Protest
Nigeria’s currency on Tuesday exchanged with the dollar at N460, depreciating by N1.00k from N459 it stood since last week…
Delta Airlines Cancels Two More Flights Over #EndSARS Protests In Nigeria
The airline cancelled Flight 248 from Atlanta, United States, to Lagos, Nigeria, and Flight 249 from Lagos to Atlanta scheduled…
Nigeria Pays Oil Majors $3 Billion, Moving Closer To Ending Arrears Due
Nigeria reimbursed oil companies including Exxon Mobil Corp. and Royal Dutch Shell Plc $3 billion, moving closer to clearing operating…
CBN Raises Red Flag Over COVID-19 Financing
The Central Bank of Nigeria has advised all financial institutions to be abreast with emerging risks and other developments while…
How To Attain NNPC’s $10/Barrel Target’
Experts at a Zoom conference last Wednesday have shown the way on how to attain the $10 cost per barrel…
Yuan Stands Tall On China Recovery, RBA Weighs On Aussie
The yuan held near a two-year high against the dollar in offshore trade on Tuesday, on signs of China’s robust…
Europe’s Central Banker: Recovery ‘Risks Losing Momentum’
FRANKFURT — The head of the European Central Bank says the economic recovery from the coronavirus pandemic “risks losing momentum”…
Nigeria’s Battered Farmers To Get $20 Million To Aid Crop Output
Mary Daniel, a slight woman in her 40s, weeds by hand a field dotted with trees and scraggly sesame plants.…
External Reserves Drop To $35.67bn
Data from the Central Bank of Nigeria (CBN) show that the reserves fell to $$35.672 billion on Thursday last week…
Losses Mount From Nigerian Police Brutality Protests
Protests against police brutality in Nigeria, Africa’s largest oil producer, have cost the economy an estimated 700 billion naira ($1.8…
Dry Port Operators Charge Customs, Others On Efficiency
Operators have urged the Nigeria Customs Service (NCS) to create a platform for operations of inland containers dry port. They…
Oil Marketers Worry About Possible Unrest When Prices Rebound
Petroleum marketers have urged the Federal Government to take decisive steps in addressing deregulation concerns in the downstream sector to…
Govt To Remove Expiry Dates From National ID Card
The Minister of Communications and Digital Economy, Dr. Isa Pantami, has disclosed that the federal government is working towards removing…
Dollar Up, Pelosi Stimulus Deadline Nears
The dollar was up on Tuesday morning in Asia, with doubts over the status of the latest U.S. stimulus measures…
Sterling Neutral As Traders Hope For Brexit Trade Deal
Sterling traders kept the currency afloat on Tuesday as they searched for clues on how likely it was for Britain…
AfCFTA To Boost Intra-African Trade – Secretary-General
The implementation of the African Continental Free Trade Area (AfCFTA) will significantly boost intra-African trade within the next 10 years.…
Volume Of Trading Falls As Investors Remain Cautious
Trading volume at the stock market declined by 41.3 per cent yesterday as investors adopted cautious trading. Investors exchanged 287.3…
Naira Slides To 460/$ At Parallel Market
The naira fell slightly at the parallel market on Monday, as it exchanged to the dollar for N460/$ as of…
Wales Imposes Two-Week Lockdown: ‘Everybody Must Stay At Home’
Wales will impose a two-week “fire-break” lockdown from Friday in which everybody apart from essential workers must stay at home…
Can Billion-Naira Interventions Rescue The Agric Sector?
In the last 5 years, the CBN and the federal government have been pumping billions of naira into the Agric…
Euro Struggles As U.S. Deal Hopes Fade, COVID Spreads
The euro struggled to rise above the $1.18 level on Tuesday as fading hopes for a U.S. coronavirus aid package…
Oil Edges Lower As OPEC+ Keeps Its Next Moves Close To Chest
(Bloomberg) — Oil in New York fell slightly under $41 a barrel after the OPEC+ Joint Ministerial Monitoring Committee made…
Naira Sheds 0.04% At I&E On High Demand For Forex
The Naira opened the week on a negative note on Monday at the Investors and Exporters (I&E) segment of the…
Nigeria Venture Plans To Raise $1.2 Billion To Fix Power Gap
(Bloomberg) — A Nigerian venture plans to raise 480 billion naira ($1.2 billion) over the next three years to buy…
Pound Up As UK Officials Hint At Rewrite Of Lawbreaking Brexit Bill
The pound rose against the euro (GBPEUR=X) and dollar (GBPUSD=X) on Monday morning as traders digested media reports that UK…
Revisiting The African Continental Free Trade Area: Impact, Challenges And Opportunities
Trade is one of the key factors responsible for interaction among nation-states. It involves goods and services, and connects communities,…
Nigeria’s Lagos Imposes 24-Hour Curfew After Anti-Police Protests Turn Violent -Tweet
Nigeria’s Lagos state government on Tuesday imposed a 24-hour curfew, saying anti-police protests have “degenerated” into violence. The governor, Babajide…
FG Reiterates Commitment To Concession Onitsha River Port, Says Moghalu
The Federal Government on Monday reassured the business community in the South East of its commitment to concession the Onitsha…