Stock Market 0May Be Investor’s Only Viable Option
With Nigeria’s debt market becoming even more unattractive to foreign investors, Nigerian investors’ only viable trading option will be the…
Day: November 5, 2020
Local Currency Depreciates To N464/$1 At Black Market
The Naira weakened against the US Dollar at the parallel market on Wednesday, November 4 as it lost N1 to…
Forex Scarcity Restricts Access To N100bn Pharmaceutical Fund
Despite availability of the N100 billion Healthcare Intervention Fund, HIF, the scarcity in foreign exchange, forex, market has now posed…
FG Considers Passport Ban For Passengers Breaching COVID-19 Test
The federal government has threatened to prevent travellers who refuse to make themselves available for compulsory PCR test, seven days…
Dollar Gains As Investors Unwind Bets On Big Fiscal Spending
The U.S. dollar gained against a basket of currencies on Wednesday after Democrats looked unlikely to take control of the…
Sterling Volatile As Investors Await U.S. Election Outcome
Democrat Joe Biden was back as favourite to win the U.S. presidential election in online betting markets, according to Britain-based…
U.S. Senate Gets First Nigerian-American Congressman
Mr. Oye Owolewa cruised into victory on Tuesday night to become the first Nigerian-American to be elected to the U.S.…
Nigeria, Third Highest Destination Of Used Cars From U.S.
The unique and rare terracotta head, believed to be from Ile-Ife in Nigeria, was intercepted by Dutch Customs at Schiphol…
Nigeria Not Military State, Release Moe’s Passport – Ezekwesili
A Former Minister of Education, Oby Ezekwesili, has called out the President Muhammadu Buhari government and relevant authorities over the…
FG Clamps Down On #EndSARS Promoters, Freezes Accounts
There were strong indications on Tuesday that the Federal Government had begun a clampdown on promoters of #EndSARS protests by…
Nigeria’s Debt To Hit N38.6 Trillion By December 2021
Nigeria’s total public debt may hit N38.68 trillion by December 2021, the Minister of Finance, Budget and National Planning, Zainab…
Gold Erases Losses As U.S. Vote Count Stretches On; Oil Jumps
Gold erased losses while oil rose as tight races in key battleground states in the U.S. election left investors scrambling…
FG Seeks Fresh $1.2bn Loan From Brazil
The Federal Government is seeking a $1.2bn external borrowing from Brazil to finance agricultural programmes in the 2021 budget. A…
Sterling Falls More Than 1% As U.S. Election Results Eyed
The British pound fell more than 1% against the U.S. dollar on Wednesday as investors sold riskier currencies, with early…
Dollar Trims Gains As U.S. Election Race Enters Home Stretch
The dollar gave up some gains and riskier currencies remained on the backfoot as markets waited for the U.S. election…
South African Rand Inches Higher, Traders Focus On U.S. Election
South Africa’s rand ended mostly flat on Tuesday in turbulent trade as investors awaited the results from the United States…
Mutual Funds Are Next Big Thing In Nigerian Finance’
Mutual Funds are gaining wide acceptance in Nigeria’s investment climate, with savvy investors choosing the investment plan over savings, Head…
Oil Drops After Trump Claims Victory In Tight U.S. Election
Oil turned lower on Wednesday after President Donald Trump claimed victory in a tight U.S. election, despite millions of votes…
Police Brutality Activist Says She Was Barred From Leaving Nigeria
Nigerian immigration officials blocked a prominent anti-police brutality activist from leaving the country and confiscated her passport, she told Reuters…
6,800 Nigerian Students In China – Envoy
The Charge d’Affaires of the Embassy of China in Nigeria, Mr Zhao Yong, has said people-to-people exchange between China and…
Dollar Jumps As U.S. Election Race Tightens; Peso, Yuan Wilt
The U.S. dollar jumped and riskier currencies wilted on Wednesday as early results in the presidential election showed a tight…
Top Nigerian Bank Sued For Blocking Account Linked To Protesters
Access Bank Plc, Nigeria’s biggest bank, is accused of illegally blocking an account used to promote media coverage of protests…
OML 40 Explosion Damages Marine Storage Vessel, Stalls 10,000bpd
The Nigerian Petroleum Development Company, a subsidiary of the Nigerian National Petroleum Corporation, has reported an explosion at a production…
Nigeria Will Borrow N6tn In 2021 – Finance Minister
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said Nigeria’s total public debt will hit N38tn by…
Survey Anticipates Further Rise In Unemployment Rate
Respondents to the Central Bank of Nigeria’s (CBN), ‘Consumer Expectations Survey Report,’ have estimated further rise in unemployment rate in…
Nigeria Government To Ban Passports For Travelers Refusing For Compulsory PCR Test
The Government of Nigeria has decided to ban passports for travelers who refuse to make themselves available for a compulsory…
Naira Stabilizes At Black Market As CBN Continues Its Intervention In Forex Market
Forex turnover rose sharply by 122% as Nigeria’s exchange rate at the NAFEX window depreciated against the dollar to close…
US Dollar Eurobond Yields Now Higher Than Naira Yields?
The Naira yields of T-bills and Federal Government of Nigeria (FGN) bond are lower than its US dollar Eurobonds. This…
Budget 2021: Nigeria’s Proposed Funding For Oil Palm Research Highest In 10 Years
Nigeria’s oil palm research will receive its biggest funding in 10 years if the 2021 budget is passed into law,…
Canada Dollar Seen Rising; U.S.’Blue Wave’ Would Bolster Prospects: Poll
The Canadian dollar is set to extend its rally over the coming year if the COVID-19 crisis becomes less of…