Naira Exchanges At N470/$ In Parallel Market
The naira has continued to fall in the parallel market as it exchanged at N470 to a dollar at the weekend. The Central Bank of Nigeria (CBN) data showed that…
China’s Factory Output Beats Forecasts As Asia Shakes Off COVID Slump
China’s factory output rose faster-than-expected in October and retail sales continued to recover albeit at a slower-than-forecast pace, as the world’s second-largest economy emerged from its COVID-19 slump. Industrial output…
‘AfCFTA Will Open Up Neighbouring Markets For Nigeria’
The ratification of the African Continental Free Trade Agreement (AfCFTA) last week by the Federal Government is expected to have resounding impact on the Nigerian economy. Some firms are positioning…
‘Nigeria May Face $20bn Loss In Export Revenue’
Nigeria and four other oil producers on the African continent could each be facing $20billion or more in lost export revenue this year as global oil demand is estimated never…
Canadian Dollar Posts Weekly Loss On ‘Bleakening’ Global Outlook
The Canadian dollar steadied against its U.S. counterpart on Friday, holding near its weakest level in more than a week, as oil prices fell and investors worried that surging COVID-19…
UK Expected To Ban Sale Of New Petrol And Diesel Cars From 2030
Boris Johnson is understood to be planning to ban the sale of new petrol and diesel cars within a decade, with reports that the ban will be brought forward by…
China Is Rapidly Expanding Its Oil Resources In Africa
China is making a major power play to expand its global energy influence. The United States has long played an outsized role in global geopolitics and energy markets thanks to…
Central Bank Digital Currencies Are Dead In The Water
CBDCs won’t fundamentally be changing anything — central banks still want to control your wealth and your money. Mark my words: Governments and central banks will never care about your…
How Airports Re-Opened For International Flights, By FAAN
The Federal Airports Authority of Nigeria (FAAN) at the weekend offered clarifications on the criteria adopted by the Federal Government in re-opening airports for international flights. Its spokesperson, Mrs. Henrietta…
Despite FG’s Appeals, Nigerian Traders In Ghana Call For Evacuation
Despite assurances and pleas by the Federal Government, Nigerians living and working in Ghana under the auspices of Nigerian Union of Traders Association in Ghana (NUTAG) have presented a Save-Our-Soul…
Zambia Becomes First African Country To Default On Dollar Bonds Since Covid
Zambia could not pay an overdue Eurobond after the grace period elapsed on Friday, making it the first African nation to default on sovereign debt since the onset of the…
Otunuga: Rising Gold Prices May Support Nigeria’s Economy
As the federal government grapples with the challenge of finding solutions to Nigeria’s current economic woes, the Senior Research Analyst at FXTM Global, Mr. Lukman Otunuga, has said the nation’s…
Transport Cost, Major Driver Of Inflation — Finance Minister
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said the inflation rate in Nigeria is largely driven by the cost of transportation. The country has seen…
Naira Weakens To 470/Dollar Despite CBN Interventions
The naira weakened to 470 against the United States dollar in the parallel market on Friday despite the interventions of the Central Bank of Nigeria in the official window. The…
Palm Oil Price Further Increases In Enugu Major Markets
The price of palm oil has further increased in major markets across Enugu metropolis, the News Agency of Nigeria (NAN) reports. A market survey conducted by NAN on Saturday revealed…
Nigeria’s Naira sinks to lowest level in weeks
Nigeria’s currency, the Naira closed the week, falling to its weakest level in six weeks as Central Bank of Nigeria interventions failed to save it against battering by US Dollar.…
FG Is Prioritising Vaccine For Nigerians –Osinbajo
One of Nigeria’s main priorities now is getting the COVID-19 vaccine and this is a matter of utmost concern to the Buhari administration, according to Vice President Yemi Osinbajo. This…
How China’s New Development Plan Will Benefit Nigeria, Other African Countries, By Envoy `
There are tremendous opportunities for Nigeria and other African countries in China’s 14th Five-Year Plan for National Economic and Social Development, which would be implemented from 2021 to 2025. China’s…
Nigerians Now More Conscious Of Their Rights, IGP Tells Police
The Inspector-General of Police (IGP), Mohammed Adamu has cautioned policemen on how they carry out their duty saying that society has become more conscious of their rights and how they…
Ex-Wells Fargo CEO John Stumpf Misled Investors In Fake Accounts Scandal, SEC Says
Ex-Wells Fargo CEO John Stumpf and former deputy Carrie Tolstedt were charged by the Securities and Exchange Commission with misleading investors about the bank’s success in selling multiple products to…
The Four Latest Contenders To Facebook’s Social Media Throne
In the aftermath of the election, millions of users rushed to sign up for Parler, an up-and-coming social media app that has quickly become a hub for conservatives seeking refuge…
GM Recalling Chevrolet Bolt EVs Due To Fire Risks Amid Federal Probe
General Motors is recalling tens of thousands of all-electric Chevrolet Bolt EVs due to risk of fire. The Detroit automaker said Friday it is recalling 68,667 of the cars globally…
McDonald’s And Franchisees Will Conduct Coronavirus Safety Checks To Guard Against Pandemic Fatigue
McDonald’s will conduct coronavirus safety reviews of its restaurants in the next six weeks as health experts worry that Covid fatigue is contributing to the record high number of new…
Trump Says Coronavirus Vaccine Won’t Be Delivered To New York Right Away
President Donald Trump said Friday that the U.S. government would not deliver a coronavirus vaccine to New York if and when one is available. New York Gov. Andrew Cuomo “will…
California, Oregon And Washington Issue Covid Travel Advisory Urging 14-day Quarantine
The governors of California, Oregon and Washington issued a joint coronavirus travel advisory on Friday urging people arriving to their states to self-quarantine for 14 days and asking residents to…
Nigeria To Tap $750 Mln World Bank Loan For Local Regions
Nigeria is in the process of accessing a $750 million World Bank loan to enable local states to support vulnerable households and mitigate the effects of the COVID-19 pandemic on…
Trump Strikes Out In Arizona, Michigan, Pennsylvania Ballot Challenges, Biden’s Lead More Secure
President Donald Trump’s already long-shot efforts to reverse an apparent win for President-elect Joe Biden by challenging votes in courts suffered three big setbacks in Arizona, Michigan and Pennylvania on…
DraftKings Stock Jumps After Reporting Third-Quarter Beat, Surge In Users
Shares of sports betting company DraftKings jumped more than 6% Friday after the company reported better-than-expected third quarter results and a surge in users. Here are the results: Loss per…
Goldman Sachs Says A Divided U.S. Government Could Boost Asian Currencies
India, Southeast Asia economies will ‘benefit more’ from Covid-19 vaccine: Goldman Sachs SINGAPORE — The U.S. elections will likely result in a divided government — and that could lead Asian…
Nigeria’s Strength Lies In Export Of Services, Says Awolowoź
The Managing Director and Chief Executive Officer, Nigeria Export Promotion Council, Segun Awolowo, says Nigeria has an advantage over other African countries in the export of services. Awolowo said this…