AFRICA-FX-Kenyan, Zambian, Nigerian Currencies Seen Under Pressure
The currencies of Kenya, Zambia and Nigeria are expected to come under pressure versus the U.S. dollar next week, according…
Day: November 26, 2020
Bob Diamond’s African Bank Exits Two Markets As It Enters Debt Talks
Atlas Mara Ltd., the African banking group started by former Barclays Plc Chief Executive Officer Bob Diamond, agreed to sell…
Nigeria To Strengthen Infrastructure Company To Boost Recovery
Nigerian state-owned Infrastructure Credit Guarantee Company plans to raise additional capital to fund critical projects in Africa’s biggest economy. The…
Nigerian Central Bank Rule Leaves Cocoa Stranded At Ports
Nigerian cocoa exporters are facing long delays in shipping their goods after the central bank started insisting on additional documentation…
Naira May Head To N500 Against Dollar On Black Market Next Week
The foreign exchange market has been under pressure since March 2020 following a sharp drop in oil prices as a…
Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin To Circumvent Country’s Overvalued Exchange Rate
A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin…
FG Moves For Better Forex Access
As the naira sustains its sliding profile against the American dollar at the parallel market, Vice President Yemi Osinbajo, yesterday,…
Nigeria Argues Over The Writing On Its Banknotes
Some say Arabic script smacks unconstitutionally of Islam. Others shrug Malcolm omirhobo is no stranger to the Federal High Court…
Nigeria Weak On Innovation Infrastructure’
THE National Centre for Technology Management (NACETEM) yesterday said Nigeria was weak on innovation stressing the need for more investment…
Euro Retreats After Early Gains; Swedish Crown Falls After Riksbank QE Expansion
The euro retreated on Thursday after briefly hitting a near three-month high against the dollar as concerns about rising coronavirus…
Importers, Clearing Agents Lament As Railway Contractor Stalls Cargo Evacuation At Apapa Port
Cargo evacuation at APM Terminal, Apapa , were yesterday paralysed as the contractor handling the rail project at the Apapa…
Pound Near Three-Month High As Weak Dollar Counters Unease On Brexit Talks
Sterling held near a three-month high on Thursday as U.S. dollar weakness offset some of the uncertainty about the outcome…
Exclusive: White House Considers Lifting European Travel Restrictions – Sources
The White House is considering rescinding entry bans for most non-U.S. citizens who recently were in Brazil, Britain, Ireland and…
CBN To Banks: Cut Service Cost
THE Central Bank of Nigeria (CBN) has advises banks and other financial institutions to reduce the cost of providing banking…
Naira Hits Record Low At The Investors And Exporters Window
Nigeria’s local currency, the naira fell to a record low of 393 naira 25 kobo to the US dollar at…
Bitcoin Plunges By Nearly $3,000 After Closing In On Its All-Time Record
LONDON — Bitcoin has plunged by close to $3,000 in less than 24 hours after hitting highs not seen since…
AfDB To Set Up Agro-Finance Fund
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has disclosed that the bank is partnering with relevant…
#EndSARS: CACOVID To Rebuild 44 Police Stations, Donates N100bn For Arms
The Central Bank Governor, Godwin Emefiele, has said the Coalition Alliance Against COVID-19 will rehabilitate all the police stations that…
Dollar Losses Put On Hold But Long-Term Outlook Tilts To Downside
The dollar was on the defensive on Thursday as downbeat U.S. economic data and optimism about coronavirus vaccines prompted investors…
Nigeria: NPA Moves To Ease Tin Can Port Traffic
The Nigerian Ports Authority, Tin Can Island Port Complex, has assured stakeholders of better traffic situation along the port access…
This Recession Makes Life Difficult For Citizens And Increases Level Of Misery – DG LCCI, Yusuf
In this interview with NIKE POPOOLA, the Director-General, Lagos Chamber of Commerce and Industry, Dr Muda Yusuf, speaks on the…
Parallel Market Accounts For 5% Of FX Market Share—CBN Governor
Mr Emefiele made this claim in Abuja on Tuesday while reacting to a question on the value of the Naira…
15-Month Border Closure: Manufacturers Fault Federal Govt, Committee Report Ready For Buhari
Stakeholders in the manufacturing sector, including the Manufacturers’ Association of Nigeria’s Export Group and the Abuja Chamber of Commerce and…
Dollar In Holding Pattern But Traders Warn Of Further Declines
The dollar was on the defensive on Thursday as downbeat U.S. economic data and optimism about coronavirus vaccines prompted investors…
Africa Looks To China, Russia To Boost Scant Vaccine Supplies
The Africa Centres for Disease Control and Prevention and the African Union have discussed Covid-19 vaccine trial partnerships with both…
Alleged Members Of Nigerian Cybercrime Ring Arrested In Lagos
Three alleged members of a prolific Nigerian cybercrime ring have been arrested in Lagos, part of a larger group that’s…
Vaccine Is No Shot In The Arm Yet For Emerging Markets
Emerging markets have surged on the prospect that coronavirus vaccines will become widely available soon, but analysts think the rally…
ABCON Blames FX Speculators For ‘Forceful Devaluation Of Naira’
Last week, the Nigerian weakened to N484/$1. It only appreciated by N1 on Monday to trade at N483/$1 and as…