Trump Sues To Reverse Biden Win In Wisconsin
President Donald Trump’s campaign filed a lawsuit Tuesday in Wisconsin seeking to invalidate President-elect Joe Biden’s win there, the latest…
Day: December 1, 2020
AfCFTA – Nigeria Can Ban 10% Of Sensitive Goods, Others At Borders
Lagos and Abuja — In spite of the African Continental Free Trade Area (AfCFTA) starting in January, Nigeria has the…
Nikola founder Trevor Milton can sell his 91.6 million shares starting Tuesday as insider lockup period expires
Ousted Nikola founder and Chairman Trevor Milton is the company’s largest shareholder with more than a fourth of the start-up’s…
Nigeria’s Oil Rig Count Dips By 30% In One Month
Nigeria’s active rig count has dropped significantly by 30 per cent to seven in October 2020 as against 10 recorded…
Euro Near Three-Month High As Dollar Takes A Hit; Bitcoin At New High
The euro was close to a three-month high on Tuesday as the U.S. dollar fell on expectations of more monetary…
Crash In Money Market Instruments Triggers N2.3tr Gain
Investors on the Nigerian Stock Exchange (NSE) gained N2.3 trillion in November, as the market recorded its best monthly appreciation…
Buhari Asks Nigerians To ‘Embrace Gas As Alternative To Fuel’
The President made this call on Tuesday during the unveiling of the National Gas Expansion Programme and National Autogas Roll-out…
First Virtual Trade Mission For UK-Africa Legal Services
stry of Justice’s Legal Services are GREAT (LSAG) campaign, it will promote the UK’s prestigious legal sector to some of…
Nigeria To Push CNG As Alternative Transport Fuel, Reduce Reliance On Gasoline
London — Nigeria has started the roll out of compressed natural gas (CNG) as a key transport fuel as part…
FG, Egyptian Firm Sign Pact To Invest In Gold Mining
The Federal Government and Messrs La Mancha Incorporated, a leading Luxembourg Incorporated Private Gold Development and Mining Company in Cairo,…
Federal Reserve Says Key Bank Lending Rate Will Be Phased Out By June 2023
An interest rate that banks around the world use as a benchmark for short-term borrowing will be phased out and…
2016 REPOST: Nigeria’s Case Study On How Not To Float Your Currency
Rumors of rate fixing. Scarcity of foreign exchange. A widening gap between the official rate and the runaway blackmarket. Nearly…
FG Lost N1.3trn To Import Duty, VAT Waivers –Minister
The minister of finance, budget and national planning Hajiya Zainab Ahamed Shamsuna has said that the federal government lost N1.3…
Dollar Loses Some Bounce As Focus Shifts To Fed
An under pressure U.S. dollar handed back part of its month-end bounce on Tuesday, as investors reckoned on more monetary…
Nigeria Eases Rules On Diaspora Remittances To Boost FX Liquidity
Nigeria hopes to attract more remittances from its diaspora to boost foreign currency liquidity after the central bank issued a…
CBN Issues New Guidelines On Foreign Remittances
The Central Bank of Nigeria has said beneficiaries of diaspora remittances can now receive monies sent from abroad in foreign…
CBN Okays Dollar Collection For Diaspora Remittances
The Central Bank of Nigeria (CBN) has stopped naira payment to recipients of diaspora remittances (dollar inflows) from International Money…
CBN Issues Subtle Warning Explaining How Domiciliary Accounts Should Be Used
The Central Bank of Nigeria (CBN) issued a circular on Monday clarifying how domiciliary accounts will be operated in the…
Forex Scarcity Bites Harder, CBN Amends Diasporan Remittance Law
The Central Bank of Nigeria said on Monday that it had amended the procedures for receipt of diaspora remittances as…
Oil Falls After OPEC+ Talks Delay Sets Off Supply Alarm
Oil prices fell on Tuesday as concerns over mounting supply returned to the fore after leading producers delayed talks on…
Pfizer, BioNTech Apply For Coronavirus Vaccine Approval In Europe
U.S. pharmaceutical giant Pfizer and its German partner BioNTech said they have applied to the European Medicines Agency for the…
Don’t Reverse Ban On Rice Importation, Ortom Begs Buhari
Governor Samuel Ortom of Benue State, on Monday, appealed to the President, Major General Muhammadu Buhari (retd.), to sustain the…
FG Warns Against Christmas Carol, Tells Nigerians Abroad To Stay Away
The Presidential Task Force on COVID-19 has urged Nigerians to be weary of festivities such as Christmas carols as the…
Frantic CBN Allows Diaspora Remittances To Be Withdrawn In Dollars And Sold Anywhere Including Black Market
To save the naira, CBN now allows diaspora remittances to be withdrawn dollar cash. The Central Bank of Nigeria (CBN)…
CBN Removes Restriction On FX Receipt Through Domiciliary Accounts
Beneficiaries of Diaspora remittances through International Money Transfer Operators (IMTOs) shall henceforth receive such inflows in the foreign currency (US…
U.S. Dollar Drops To Lowest In More Than Two Years
The dollar hit its lowest in two and a half years on Monday as broad risk sentiment improved overall, with…
Sterling Heads Higher On Hopes Of A Brexit Trade Deal
secure a deal to govern nearly $1 trillion in annual trade from Jan. 1 but are yet to bridge differences…
Govt, CBN Point To Results In Economy Recovery Plan
At the backdrop of the slide into the second recession in five years, fiscal and monetary authorities are indicating that…
Interventions Drive Daily I&E Window Sales To $150m
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said interventions introduced by the CBN have resulted in…
Dollar Plumbs Two-Year Low As Fed Comes In To Focus
The dollar touched a more than two-year low on Monday and is set to log its largest monthly fall since…