US Army’s Operation Not Violation Of Nigeria’s Sovereignty – Minister
The Minister of Defence, Major General Bashir Salihi Magashi (retd.), has said the rescue operation by the United States Army on Nigeria soil was not a violation of the country’s…
Dollar Climbs As Risk Of Long Wait In U.S. Election Outcome Looms
The U.S. dollar jumped and risk-sensitive currencies weakened on Wednesday, as early results in the U.S. presidential election showed a very tight race, prompting a wind-back of bets on a…
122% Jump In FX Demand Weakens Naira By 0.10% At I&E
The Naira lost 37 kobo or 0.10 per cent at the Investors and Exporters (I&E) segment of the foreign exchange market on Tuesday, November 3 as the domestic currency ended…
Oil And Gas Regulations In Nigeria – Oil & Gas Policies
There are various laws regulating oil and gas in Nigeria. The principals among these laws are the 1999 Constitution of Nigeria (as amended) and the Petroleum Act, which vested ownership…
Meet Donald Trump’s Nigerian Cheerleaders
lad in white and blue — the same shades as the Israeli flag — his supporters thronged the streets of the city, waving American flags and holding high placards that…
Oil Accounted For 88% US Imports From Nigeria In 2019’
The Congressional Research Service (CRS), a non-partisan group which provides legislative research and analysis for the United States Congress, has disclosed that crude oil accounted for 88 per cent of…
Nigeria And Digital Banking
I often wonder about the wind of change that is sweeping across the Nigerian banking industry, especially the deployment of mobile telephony for seamless and convenient banking. Indeed, gone are…
Forex Inflow To Domiciliary Accounts Falls 69% In Q2
Foreign exchange (forex) inflow to domiciliary accounts fell by 69 percent, quarter-on-quarter (q/q) in the second quarter of the year (Q2’2020) amidst acute dollar scarcity during the quarter. A domiciliary…
Igeria Generated N424.71bn VAT In Q3 —NBS
The National Bureau of Statistics on Monday said the sectoral distribution of Value Added Tax data for the third quarter of 2020 reflected that the sum of N424.71bn was generated…
Soldiers Detained For Flogging Lady Over ‘Indecent’ Dressing, Shaving Youths
The Oyo State security outfit, Operation Burst, said on Monday that it had arrested some of its personnel for allegedly assaulting a lady in the Beere community, Ibadan. The lady…
Local Rice Supply Threatened After Massive Looting Of Warehouses
Following the looting and destruction of warehouses across the country, including rice mills, Rice Millers Association of Nigeria (RIMAN) has raised concerns that the nation’s rice production is currently under…
FX Markets To Remain Net Short U.S. Dollar After Election – Reuters Poll
Bets against the U.S. dollar were expected to linger or even increase in the immediate aftermath of the Nov. 3 presidential election, despite jitters in the run-up along with surging…
Why Scots Should Pay Attention To What’s Happening In Nigeria – Ayeni Adekunle
It’s a rich, complex history that one piece cannot do justice to. But I’ll attempt to provide an introduction that I hope will lead every Scot to go searching, especially…
The Case For A Nigerian-Born Woman To Lead The World Trade Organization
THE TARIFF WARS OF U.S. President Donald Trump’ administration have garnered enormous press coverage over the past four years, and rightly so. They have pitted America against the other major…
CBN Lists Business Activities Eligible For N75 Billion Youth Investment Fund
The Central Bank of Nigeria (CBN) has revealed main business activities and sectors in the Nigerian economy that are eligible to access its N75 billion Youth Investment Fund. They are:…
Immigration Prevents #EndSARS Promoter From Travelling
The Nigeria Immigration Service on Monday prevented a promoter of the #EndSARS movement, Modupe Odele, from travelling. Although the officers did not disclose the reason for their action, it is…
Nigeria Mobile Money Revolution Delayed By Scarcity Of Licences
In late 2018, Nigeria stated it could permit non-financial corporations to use for cellular banking licences — a part of a cash revolution aimed toward reworking Africa’s greatest financial system…
U.S. Dollar Hovers In Calm Before Election; Aussie Slips On RBA Cut
The U.S. dollar hovered just below a one-month high on Tuesday, as investors opted for caution in the hours ahead of polls opening on election day in the United States,…
Nigerian Minister Says It’s Unclear Who Shot Protesters In Lagos
“Hoodlums” wearing military uniforms may have shot Nigerian protesters campaigning against police brutality and it was too soon to tell if soldiers were involved, the country’s attorney general said on…
Travel Agent In Court For Alleged N1.7m Visa Fraud
A 35-year-old travel agent, Alao Ganiyu, on Monday appeared in a Chief Magistrates’ Court in Kaduna for allegedly defrauding a traveller of N1.7 million. The police charged Ganiyu with three…
What CBN Says Concerning The N75bn Youth Investment Fund
The Central Bank of Nigeria (CBN) has released the framework for NIRSAL Microfinance Bank (NMFB) to commence the disbursement of the N75 billion Nigeria Youth Investment Fund (NYIF). The Federal…
Dollar Tilts Towards Biden Win Heading Into U.S. Election
Foreign exchange markets in Europe tilted on Tuesday towards pricing a victory for U.S. Democratic candidate Joe Biden against President Donald Trump despite warnings that possible post-election disputes could unleash…
Nigeria Can Earn $1bn From Leather By 2025 — NEPC
The Nigeria Export Promotion Council (NEPC) has said that the leather industry could generate $1bilion for Nigeria by 2025. The Chief Executive Officer of NEPC, Mr Segun Awolowo, who disclosed…
Investors’ Interest Growing In Nigeria’s Gold Value Chain — PAGMI
In this April 16, 2020, file photo, a customer puts gold bars on basket for sell to a gold shop in Bangkok, Thailand. The price of gold surged more than…
Biden Win Could Cause A Huge New Oil Glut
As if the oil market needed another uncertainty in the year of the pandemic, a Joe Biden win at next week’s U.S. presidential election could have a significant impact not…
Capital Market Halts Gain With N26bn Loss
The Nigerian equity market on Monday closed the market in the red as investors began to take profits to increase capital gains. Key market indicators, the NSE ASI declined by…
Fear Dominates The Lives Of Nigerians: The Consequences Are Dire
Is Nigeria a failed state? Former president and would-be elder statesman Olusegun Obasanjo seems to think so… well, almost. On October 1, 2020 – the day Nigeria marked 60 years…
Nigerian Insurers Face Record Claims As Protest Costs Mount
Nigerian insurers are facing their biggest claims on record after protests against police brutality turned violent, leading to large-scale looting and destruction. Risk underwriters all over the country are inspecting…
Oil Marketers: Stalled PIB Hampered Investment In Downstream Assets Digitalisation
Marketers of petroleum products in the country have continued to highlight the negative impact of the long delay in passing the Petroleum Industry Bill (PIB) on the downstream sector of…
Sterling Calm Vs Euro, Overnight Implied Volatility Soars To Highest Since March
Trading in the British pound was relatively calm on Tuesday as the currency stayed neutral against the euro and rose versus the broadly weaker U.S. dollar on the day of…