Electricity Grid Collapses In Nigeria, Africa’s Largest Economy
Nigeria’s national electricity grid collapsed on Sunday, the Transmission Company of Nigeria (TCN) said in a statement. Power outages in…
Day: November 30, 2020
Nigeria’s Defense Of A Spiraling Naira And Its Multiple Exchange Rates Isn’t Working
At any point in the last few years, Nigeria’s naira has always had multiple exchange rates. As of Friday (Nov.…
Naira Hits Four-Year Low As Nigeria Central Bank Adjusts Rate
Nigeria’s central bank weakened the naira for the third time this year as the regulator struggles to stem demand for…
Expanding Financial Services Access With Cryptocurrencies
The Cryptocurrency space is fast expanding, with more people, including those at the grassroots embracing the digital investment plan. Even…
Nigerian Naira Weakens In NDF Markets After Spot And Futures Market Ease
Nigeria’s naira slipped across the curve against the dollar in non-deliverable forward markets on Monday, with the six-month contracts falling…
Oil Can No Longer Sustain Nigeria Economy, Kogi Agric Commissioner Warns
The Kogi State Commissioner For Agriculture, Mr David Apeh, has warned that the continuous dependence on crude oil by the…
Nigeria Spends Over N370b On Palm Oil Importation
Despite the restriction placed by the Federal Government on palm oil importation, the inflow of the edible product has soared…
Rewane Speaks At FMDA Webinar, Predicts 16% Inflation Rate By 2021
The Managing Director, Financial Derivatives Company Limited, Bismarck Rewane has predicted 16 per cent inflation figure by 2021. The economist…
Investors Split On Duty Cut For Imported Vehicles
The proposed policy in the 2020 Finance Bill that seeks to slash duties and levies on imported vehicles has raised…
Why Eight States Landed In Financial Distress —Report
FOR their inability to generate enough revenue to pay workers, other debts, and prioritizing recurrent over capital expenditures, eight states…
Biden To Name Adewale Adeyemo Deputy Treasury Secretary
United States (US) President-Elect, Joe Biden, is about to announce Nigerian-born attorney and economist, Adewale ‘Wally’ Adeyemo, as deputy Treasury…
Nigeria’s, Others’ Mobile Money Transaction Value Hits $130b
The value of mobile money transaction in Nigeria and other West African countries peaked at $130billion last year with a…
CBN Reiterates Commitment To Tackling Cyber-Fraud
In a bid to tackle the increasing threats of cyber-attacks in the financial sector, the Central Bank of Nigeria (CBN)…
OPEC+ Fails To Agree On Output-Hike Delay Before Big Meeting
A panel of OPEC+ ministers couldn’t reach an agreement on whether to delay January’s oil-output increase, leaving the matter unresolved…
BDCs Now To Sell Dollars At N392$1
The Central Bank of Nigeria (CBN) has adjusted the exchange rate Bureau De Change (BDC) operators are to sell the…
Nigeria’s Half-Year Export Earnings Slump 37 Percent On Declining Oil Price
The decline in earnings was worsened by the impact of COVID-19 which dampened the global demand, plummeting crude oil prices…
Oil Prices Slip In Cautious Trade Ahead Of OPEC+ Meet
Crude oil prices fell on Monday, amid investor jitters ahead of a meeting of producer group OPEC+ to decide whether…
Naira Crashes To N500/$1 At Black Market As CBN Adjusts Exchange Rates
The Naira crashed again to an over 3-year low against the dollar, closing at N500/$1 at the parallel market. Forex…
Fear Of Further Devaluation Rife As Naira’s Slide Continues
The naira hit record lows at the weekend as market forces continued to force downward shift in Central Bank of…
IMF Seeks Unified Exchange Rate For Naira
THE International Monetary Fund (IMF) has urged the Central Bank of Nigeria (CBN) to get the country a unified exchange…
Nigeria Weakens FX Rate For Exchange Bureaux To Ease Pressure On Naira
Nigeria’s central bank has weakened the naira by 1.5% to 390 per dollar for exchange bureaux, in an attempt to…
Trump Says His Election Challenges Probably Won’t Make It To The Supreme Court
President Donald Trump acknowledged his vanishing path to overturning the results of the 2020 election in court on Sunday during…
Stock Futures Fall As Wall Street Is Set To Wrap Up A Historic November
Stock futures dipped in overnight trading on Sunday as the market looks set to finish November with historically strong gains.…
Fauci Says Christmas And New Year’s Restrictions Will Be Necessary Due To Holiday Coronavirus Wave
Dr. Anthony Fauci, the nation’s top infectious disease expert, said on Sunday that the U.S. is heading into a difficult…
Biden Will Likely Require Walking Boot For Several Weeks After Fracturing Foot
President-elect Joe Biden will likely have to wear a walking boot for several weeks after suffering small fractures in his…
Nationwide Blackout In Nigeria As Electricity Grid Collapses
The Transmission Company of Nigeria (TCN) says the nation’s electricity grid on Sunday experienced multiple tripping, leading to the collapse…
Things Are Looking Up For Oil, But Opec Can’t Uncross Its Fingers Just Yet
Despite good vaccine news and price rises, the cartel could still meet a few bumps in the road – some…
Travel Agents In Mideast, Africa Say UAE Is Blocking Visas
DUBAI, United Arab Emirates (AP) — Travel agencies in countries across the Middle East and Africa say the United Arab…
Five Greek Sailors Held Hostage In Nigeria
In good health are five Greek sailors whose ship was attacked by pirates in Nigeria. The pirates took hostage of…
CBN Set To Screen Bank Workers For Competence
Bank workers are about to have their capabilities to work in the industry reviewed. This means that only those with…