Business World Diaspora Remittances In Dollars: Giving Beneficiaries Value For Money December 29, 2020 Ekemini In 2016, the CBN, in an effort to increase remittance inflows and improve the number of formal channels under which Nigerians in the Diaspora could remit funds, launched a licensing…
Business Local LCCI: Nigeria May Remain In Recession Beyond 2021 December 29, 2020 Ekemini Amid the resurgence of COVID-19, the Lagos Chambers of Commerce and Industry (LCCI) has predicted that Nigeria risks a further perpetuation of the current recession if the pandemic persists into…
World China’s Economy Set To Overtake U.S. Earlier Due To Covid Fallout December 29, 2020 Ekemini The Chinese economy is set to overtake the U.S. faster than previously anticipated after weathering the coronavirus pandemic better than the West, according to the Centre for Economics and Business…
Business World What Is Expected In The Forex Market In 2021? December 29, 2020 Ekemini This year, the foreign exchange market was heavily impacted by the coronavirus pandemic. Currencies were often bought and sold based on traders’ desire to increase or decrease their exposure to…
Business Local Can Oil Stocks Bounce Back In 2021 December 29, 2020 Ekemini There’s no way to sugar coat things; 2020 was an abysmal year for the oil market. Crude oil prices are on track to decline more than 20% on the year,…
Business UK And Turkey To Sign Free Trade Deal This Week – FT December 29, 2020 Ekemini Britain and Turkey are set to sign a free trade deal on Tuesday, the first since Prime Minister Boris Johnson secured a new trade agreement with the European Union, the…
Business Local NPA Electronic Call-Up System To Decongest Ports December 29, 2020 Ekemini Come January 2021, the Nigerian Port Authority (NPA) will float the electronic version of its call-up system, which is expected to clear the protracted traffic around Apapa ports and decongest…
Business EUR/USD 1Q Forecast: US Dollar May Rebound Vs. Euro As Fed, ECB Policies Diverge December 29, 2020 Ekemini US Dollar soared at the onset of the Covid-19 pandemic as panicked credit markets began to seize up, sending capital scrambling for the reserve currency’s ultimate liquidity. It then turned…
Business World Explainer-How Will The EU-British Trade Deal Change Ties? December 29, 2020 Ekemini British and EU negotiators clinched a wide-ranging free trade deal on Christmas Eve, meaning commerce between the trading bloc of 450 million consumers and the sixth-biggest global economy will keep…
Business Local Nigeria’s Duty-Free Export To US Shrinks To $351.73m December 29, 2020 Ekemini Nigeria’s export to the United States under a duty-free policy declined in the first nine months of 2020, recording $351.73m from January to September. According to the latest African Growth…
Business Bitcoin All-Time Price High Surpasses $28K, BTC’s Half Trillion Market Cap Now Bigger Than Visa December 29, 2020 Ekemini Bitcoin markets have been seeing a lot of action this weekend, as the price of the crypto asset touched another all-time high (ATH) at $28,378 per coin. Toward the end…
Business Local Nigerians Now Taking Centre-Stage In Downstream Sector, Says DPR December 29, 2020 Ekemini Director, Department of Petroleum Resources (DPR), Sarki Auwalu, has said Nigerian indigenous oil companies are now taking the centre stage, in expanding domestic refining, domgas supply and gas-based industrialisation, which…
Business Local Will Economy Be Better In 2021? December 29, 2020 Ekemini As 2020 draws to a close, many Nigerians look towards 2021 uninspired by the catatonic state of the economy. The bland hope is that 2021 will be different and bring…
Business Local Economic Crisis: Naira To Fall Further In January, Says CBN Report December 27, 2020 Ekemini Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira…
Business Local CBN Revokes Licences Of Seven Payment Service Providers December 27, 2020 Ekemini The Central Bank of Nigeria (CBN) has announced the revocation of operating licences of seven payment service providers (PSP), and one switch operator. The apex bank, in an official gazette…
Business Local Oil Edges Higher After Brexit Deal, Gains Capped By Pandemic December 27, 2020 Ekemini Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week. The market built gains overnight as Britain and the European Union…
Business Local Mobile Payments Operators Request CBN To Reconsider Position On Diaspora Remittances December 27, 2020 Ekemini The Association of Licensed Mobile Payments Operators (ALMPO) has appealed to the Central Bank of Nigeria (CBN) to reconsider its position and re-allow Naira payments in cash into accounts or…
Business Local Nigeria’s Stock Market Closes For Christmas With N2bn Loss December 27, 2020 Ekemini Trading reverses on NSE, closes for Christmas with N2bn loss Nigerian Stock Exchange (NSE) on Thursday reversed its uptrend, dropping by N2 billion ahead of the Christmas celebration. Specifically, the…
Business Local Dangote Refinery, A Potential Game-Changer, Says Platts December 27, 2020 Ekemini The Dangote refinery in Nigeria will be a “potential game-changer” once it comes online, according to a report by Platts Analytics. The plant, which has a capacity to process 650,000…
Business Local Naira Gains N10 On Dollar At Black Market, Trades N465/$1 December 27, 2020 Ekemini The Naira continued to wax stronger against the United States Dollar as it gained N10 at the black market on Thursday, December 24 to trade at N465/$1 compared with N475/$1…
Business British Finance Sector’s ‘EU Passport’ Set To Expire December 27, 2020 Ekemini On January 1, the European finance sector will lose a major player as Britain begins to chart its own course, regardless of Thursday’s last-minute deal in Brexit talks. The key…
Business Local NPA Electronic Call-Up System To Decongest Ports December 27, 2020 Ekemini Come January 2021, the Nigerian Port Authority (NPA) will float the electronic version of its call-up system, which is expected to clear the protracted traffic around Apapa ports and decongest…
Business Foreign Reserves Remain Pressured December 27, 2020 Ekemini Over the past few months, severe pressure has been mounting on the country’s foreign reserves in face of dwindling oil earnings and reduced capital inflows from risk averse foreign investors.…
Business Local Nigeria’s Forex Inflow Hits $21bn In Q3 December 27, 2020 Ekemini The total amount of foreign exchange inflow into the economy in the third quarter of 2020 stood at $21.46 billion, according to data from the Central Bank of Nigeria (CBN).…
Business World Brexit Trade Deal Sealed: EU And UK Clinch Narrow Accord December 27, 2020 Ekemini Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world’s biggest trading blocs in its most significant…
Local World Another New Coronavirus Variant Found In Nigeria, Says Africa CDC December 27, 2020 Ekemini Another new variant of the novel coronavirus seems to have emerged in Nigeria, the head of Africa’s disease control body said on Thursday, cautioning more investigation was needed. The news…
Business Sterling Gains, Dollar On Back Foot Amid Hopes Brexit Deal Imminent December 27, 2020 Ekemini Sterling extended gains on Thursday amid expectations a long-elusive Brexit deal was imminent, raising hopes the UK can avoid a turbulent economic rupture on New Year’s Day. The dollar was…
Business Local CBN Directs Banks To Close Naira Remittances Ledgers December 27, 2020 Ekemini THE Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to close all ‘Naira General Ledgers’ used by the lenders to remit naira to Diaspora remittances beneficiaries. CBN…
Business Local Low Production Pushes Up Cement Price By 35% December 27, 2020 Ekemini The inability to meet market demand for cement coupled with low production volume by major cement companies in Nigeria have driven prices up by 35 per cent. An investigation by…
Business Local Oil Climbs As U.S. Inventory Draw, Brexit Deal Hopes Boost Risk Appetite December 27, 2020 Ekemini Oil extended gains on Thursday in light holiday trade as a drop in U.S. stockpiles spurred demand hopes, while hints of an imminent Brexit deal underpinned investors’ risk appetite. Brent…
