Real Time Financial News Website
SINGAPORE — The People’s Bank of China (PBOC) could step in following a number of recent bond defaults by Chinese state-linked firms, according to Bank of Communications International’s Hao Hong.…
The dollar held steady in thin trade on Friday but was on track for weekly losses against a basket of major currencies as it remained under pressure on improving risk…
Senate President Ahmad Lawan on Thursday urged the South African authorities to reciprocate the Nigerian Government’s gesture by ensuring that the business interests of Nigerians in South Africa were secured.…
Operations at the Apapa container terminal, operated by APM Terminals, were paralysed on Wednesday as the contractor handling the rail project at the Apapa port, China Civil Engineering Construction Corporation…
ABUJA—THE Federal Executive Council, FEC on Wednesday approved contracts for construction of two roads from Sokoto and Jigawa States up to Nigeria’s borders with Niger Republic at a total cost…
Nigeria’s former Head of State, General Yakubu Gowon, has denied ‘looting half of Central Bank of Nigeria (CBN),’ saying he is not guilty of the money laundering allegation against him…
The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, on Thursday said the country’s refineries were shut down despite maintenance carried out because crude could not be…
As the Yuletide season approaches, more smuggled items — mainly foreign parboiled rice, tomato paste, frozen chicken and cars — are still being smuggled into the country in large scale,…
The international oil benchmark, Brent crude, pared some of its recent gains on Thursday as what seemed to be shaping up as a smooth OPEC+ meeting has hit some turbulence…
The attempt by the Central Bank of Nigeria (CBN) to discourage Nigerians from seeking forex at the parallel market seems to have backfired as the battering of the local currency…
The Bureau of Public Enterprises (BPE) has handed over the Afam Power Plant in Oyigbo Local Government of Rivers State to Transcorp Power Consortium, which emerged the preferred bidder of…
The Kingdom of Netherlands on Thursday officially presented a smuggled Ife Terracotta antiquity dated to be at least 600 years old to Nigeria. The repatriated antiquity was presented to the…
Nigerians living abroad could be sending more money home than authorities realize, bypassing official channels so their families can get more naira for their smuggled dollars on the black market.…
JOS, NIGERIA – Nigeria has been producing traditional, handmade, beautiful fabric designs for centuries. But preservers of the ancient art say modern manufacturing and cheap Chinese imports threaten this way…
The currencies of Kenya, Zambia and Nigeria are expected to come under pressure versus the U.S. dollar next week, according to traders, while Tanzania’s and Uganda’s hold steady. NIGERIA The…
Atlas Mara Ltd., the African banking group started by former Barclays Plc Chief Executive Officer Bob Diamond, agreed to sell its Rwandan and Tanzanian operations as the lender started talks…
Nigerian state-owned Infrastructure Credit Guarantee Company plans to raise additional capital to fund critical projects in Africa’s biggest economy. The unit of Nigeria Sovereign Investment Authority is looking to raise…
Nigerian cocoa exporters are facing long delays in shipping their goods after the central bank started insisting on additional documentation to ensure proceeds are returned to the country. At least…
The foreign exchange market has been under pressure since March 2020 following a sharp drop in oil prices as a result of the Covid-19 pandemic Nigeria’s currency has been on…
A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances.…
As the naira sustains its sliding profile against the American dollar at the parallel market, Vice President Yemi Osinbajo, yesterday, said the Federal Government was working with the Central Bank…
Some say Arabic script smacks unconstitutionally of Islam. Others shrug Malcolm omirhobo is no stranger to the Federal High Court in Lagos, Nigeria’s commercial capital. A human-rights lawyer, he is…
THE National Centre for Technology Management (NACETEM) yesterday said Nigeria was weak on innovation stressing the need for more investment in science, technology and innovation (STI). Its Director-General, Prof. Okechukwu…
The euro retreated on Thursday after briefly hitting a near three-month high against the dollar as concerns about rising coronavirus cases in Europe grew. The dollar had earlier been on…
Cargo evacuation at APM Terminal, Apapa , were yesterday paralysed as the contractor handling the rail project at the Apapa port, blocked the truck exit gate and began demolition of…
Sterling held near a three-month high on Thursday as U.S. dollar weakness offset some of the uncertainty about the outcome of Brexit talks. Traders are looking for progress on a…
The White House is considering rescinding entry bans for most non-U.S. citizens who recently were in Brazil, Britain, Ireland and 26 other European countries, five U.S. and airline officials told…
THE Central Bank of Nigeria (CBN) has advises banks and other financial institutions to reduce the cost of providing banking services to their customers, especially the underbanked and unbanked within…
Nigeria’s local currency, the naira fell to a record low of 393 naira 25 kobo to the US dollar at the Investors and Exporters Window on Wednesday. Depreciating by a…
LONDON — Bitcoin has plunged by close to $3,000 in less than 24 hours after hitting highs not seen since the end of 2017. The price of bitcoin was trading…