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 stakeholders, “to design a pan-African private equity fund for agriculture…
#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 were damaged in the country as a result of wanton…
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 to seek out riskier assets tied to global commodities and…
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 roads. It said it had concluded plans to suspend stripping…
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 impact of recession on the country among other economic issues…
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 on the black market, which stands at over N480/$1. According…
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 Industry, on Wednesday, took a swipe at the Federal Government…
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 to seek out riskier assets tied to global commodities and…
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 China and Russia, part of an effort to ensure Africa…
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 distributed malware, phishing campaigns and business email compromise scams affecting…
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 is overplayed given the risks from slower rollouts for some…
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 press time, it was still stable at that rate. The…
ABCON: $35.6b Foreign Reserves Enough To Defend Naira
The $35.6 billion foreign exchange reserves is enough to protect naira against attacks by currency speculators forcing the local currency to depreciate. President, Association of Bureaux De Change Operators of…
Second Recession In 5 Years: Urgent Need For Robust Fiscal And Investment Policies
The GDP numbers released on Saturday (November 21) confirmed that Nigeria has officially fallen into a recession. The economy shrank by 3.62% in Q3’20, the second consecutive quarterly contraction. Though,…
Brexit – Talks Are Set To Resume By Friday As The Pound Inches Towards $1.34
Brexit talks are set to resume later this week after both sides had agreed to suspend talks. A member of Barnier’s team had tested positive, meaning that the EU and…
CBN Flays Those Using Parallel Market Rate To Push For Naira Devaluation
Those using parallel market rate to put pressure on the Central Bank of Nigeria (CBN) to devalue the Naira won’t have their way. The CBN Governor, Mr. Godwin Emefiele gave…
Trump Imposes $15,000 Visa Bond For Visitors From Nigeria, Others
A new temporary rule that could require tourist and business travellers from a dozen African countries, including Nigeria, to pay a bond from $5,000 to $15,000 to visit the United…
Elon Musk Overtakes Bill Gates To Become World’s Second Richest Man, Now Worth $128 Billion
Elon Musk, founder of the most sought automaker company, Tesla, has just hit a new apex by surpassing Microsoft founder, Bill Gates to become world’s second-richest person. According to a…
Cash Cards For Kids – Digital Banks Race To Capture The Next Generation
When John Hibbs’ daughter Xanthe received her first bank card in the mail, the six-year-old spent the next week Googling how to buy a horse. The Hibbs family poses for…
CAMA to be implemented from January 1, says CAC
The Corporate Affairs Commission (CAC) says it will begin the implementation of Companies and Allied Matters Act (CAMA) on January 1, 2021. CAMA, which repealed and replaced the extant Companies…
Minimum wage earners to be exempted from tax payment – Buhari
THIS is good news for minimum wage earners in the country. They will in no distant time be exempted from Personal Income Tax payment. President Muhammadu Buhari, who announced this…
Modular Refinery As Game Changer For South-East
From the Ibigwe refinery of Waltersmith Petroman expected to be inaugurated this week, Nigeria’s five south eastern states can comfortably oil their once vibrant economies back to commercial reckoning, writes…
Biden To Name Yellen To Treasury To Lead U.S. From Sharp Economic Downturn
President-elect Joe Biden is expected to nominate former Federal Reserve Chair Janet Yellen as U.S. Treasury secretary, breaking a 231-year gender barrier and putting a seasoned economist and labor market…
Ghana is running out of fiscal space after its debt-to-GDP ratio reached 71%, says Central bank
Ghana is running out of fiscal space as its debt-to-GDP ratio reached 71% by Sept. 30, the highest in nearly four years, following early attempts to cushion the population from…
Yemi Edun named among Britain’s most influential black people in the new powerlist
London property expert and acquisition agent, Yemi Edun, on Tuesday was named as one of the UK’s most influential black people in The Powerlist 2021. Regarded as one of the…
How African Trucking Firms Are Trying To Make Everything Cheaper
Getting products from manufacturers to market can be a slow and expensive process in Africa. But a new generation of trucking companies believes internet technology can transform supply chains and…
Investors Commit Billions At Lagos Free Zone In Nigeria
Lagos Free Zone (LFZ) ( www.LagosFreeZone.com ), the first privately owned special economic zone in Nigeria with an integrated deep sea port, is home to several reputable global brands. Located…
Bitcoin Pierces $19,000 For First Time Since 2017
Bitcoin surpassed $19,000 for the first time since 2017 as the mania over digital currencies continues to grip Wall Street. Bitcoin climbed as high as $19,103 before paring the advance,…
Nigeria: COVID-19 Caused Recession – Buhari
As Nigeria slips into recession for the second time in five years, President Muhammadu Buhari, says it came about because of the severity of the global downturn caused by the…
Nigeria Government Plans To Only Buy Locally Assembled Cars
Nigeria plans to introduce a policy for government to buy only locally assembled cars in a bid to increase the competitiveness of the country’s auto manufacturing industry. This is after…