Naira Burnout Continues, Now N484/$1 At Black Market
At the previous session, the Nigerian currency was exchanged against the American currency at the parallel market at N480/$1. An…
Month: November 2020
Nigeria Plunges Into Second Recession In Five Years
Nigeria, Africa’s biggest economy, has entered its second recession in five years as official figures published on Saturday show that…
From Building Schools To Wells: Ordinary Turks Lend A Hand In Africa
Turkey’s growing influence in Africa is not only aided by projects and policies implemented by the Turkish government but also…
To Honor Slave Trade Victims, A Memorial In The Depths Of The Atlantic
NEW YORK, Nov 19 (Thomson Reuters Foundation) – Tributes to victims of the transatlantic slave trade can be found in…
Naira Plunges To N484/$1 On Parallel Market
The lingering acute shortage of foreign exchange in the country appears to be worsening as the local currency continued its…
Nigeria: Cocoa Prices Rise As Producers, Processors Clash
Tensions between cocoa-producing countries and manufacturers over costs have led to soaring prices on the international market, even as demand…
Nigeria Backtracks On Currency Rules After Naira Weakens
Nigeria’s central bank has backtracked on a rule that banned companies from sourcing imports from third parties other than manufacturers…
Elon Musk Passes Mark Zuckerberg To Become The World’s Fourth Richest Person
Tesl TSLA +2.6% a’s billionaire cofounder and CEO, Elon Musk, overtook Facebook FB +0.4% FacebookCEO Mark Zuckerberg to become the…
Why Nigerians Should Invest In Bitcoin
As the world continues to learn more about investment options, bitcoin has also been making the news among other cryptocurrencies.…
Next Africa: Cocoa’s OPEC Is In Fight With Few Winners
Ivory Coast and Ghana, who together produce about two-thirds of the world’s cocoa, are insisting that traders pay a higher…
Nigeria: Crude In Commercial Quantity Discovered In Benue Trough – NNPC
The Nigerian National Petroleum Corporation on Thursday said the volume of crude oil discovered in Benue Trough was in commercial…
Nigeria: $30 Billion Fuels Import Outlay Present Energy Security Challenges
Industry stakeholders, yesterday, expressed concerns over the state of Nigeria’s petroleum downstream and of other African countries in the face…
Economic Data Puts The Loonie, The Pound, And The EUR In Focus
It’s was a busy start to the day on the economic calendar this morning. The Japanese Yen and the Aussie…
Nigeria To Resume Fuel Imports From Niger Republic
Nigeria, Africa’s biggest oil producer, is set to resume the importation of petroleum products from a neighbouring country, Niger Republic.…
Oil Rises, Set For Weekly Gain, On Covid-19 Vaccine Optimism
Oil rose, heading for a third weekly gain, as positive Covid-19 vaccine developments offered bulls encouragement about the market’s prospects…
Canadian Dollar Gains On Stimulus Hopes But Sticks To Recent Holding Pattern
The Canadian dollar rose against the greenback on Thursday as the prospect of renewed U.S. economic stimulus talks bolstered investor…
Nigeria: Customs Decries Smuggling Activities In Niger, Kwara Communities
Nigeria Customs Service (NCS) has listed some communities inKwara and Niger as notorious for smuggling activities over the years. The…
FG Urged To Tackle Multiplicity Of Inspection, Shipping Charges
To ensure the drive by the federal government to boost exports succeeds, the government has been urged to simplify the…
Nigerian High Commission Seeks Release Of 12 Nationals From Meghalaya Jails
An official of the Home (Prisons) Department said that at least 12 Nigerian nationals are presently lodged in Shillong and…
Nigeria’s Yemi Edun Listed Among Britain’s Most Influential Black People
Nigerian-born London property expert and acquisition agent, Yemi Edun, was Tuesday named among one of the UK’s Most Influential Black…
Financial Inclusion: Ray Of Hope As CBN Licenses PSBs
Bank account ownership is quite compulsory in many developed countries of the world. Research shows that nearly half of the…
Lagos Free Zone To Boost Nigeria’s GDP By Two Per Cent
BUSINESS Experts have expressed confidence that the Lagos Free Zone (LFZ) has the capacity to contribute around two percent of…
Survey: Nigerians Expect Weaker Economy If Inflation Rises Faster —CBN
The Central Bank of Nigeria has said more than 60 per cent of Nigerian households it surveyed in September believed…
NNPC Set To Grow Crude Reserves To 40bn Barrels
The Nigerian National Petroleum Corporation (NNPC) has assured of its resolve to grow the nation’s hydrocarbon reserves to 40billion barrels…
Rising Inflation, Forex Demand Push Naira To N478/$1 At Parallel Market
The naira on Thursday depreciated to N478 to dollar at the parallel market as importers and manufacturers push unmet foreign…
Value Of Naira Sinks To N480/$1 At Black Market
According to data obtained by Business Post from AbokiFX, a platform that tracks the Naira exchange rate at the black…
Nigeria: Terminal Operators Assure NPA Of Support
The Seaport Terminal Operators Association of Nigeria (STOAN) has promised to support the Nigerian Ports Authority (NPA) in replacing some…
Dollar Halts Slide As Mnuchin Calls Time On Emergency Funds
The dollar halted its slide on Friday after U.S. Treasury Secretary Steven Mnuchin called an end to some of the…
UK May Ease Christmas Rules As COVID Cases Start To Flatten, Minister Says
There are signs that coronavirus cases in Britain are starting to flatten as a result of current lockdowns, health minister…
Naira Sinks To 620 Against Pound, Euro Rises
The naira tumbled to 620 against the British pound sterling at the parallel market on Thursday, even as the euro…