Economic Crisis: Naira To Fall Further In January, Says CBN Report
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey…
Day: December 27, 2020
CBN Revokes Licences Of Seven Payment Service Providers
The Central Bank of Nigeria (CBN) has announced the revocation of operating licences of seven payment service providers (PSP), and…
Oil Edges Higher After Brexit Deal, Gains Capped By Pandemic
Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week. The…
Mobile Payments Operators Request CBN To Reconsider Position On Diaspora Remittances
The Association of Licensed Mobile Payments Operators (ALMPO) has appealed to the Central Bank of Nigeria (CBN) to reconsider its…
Nigeria’s Stock Market Closes For Christmas With N2bn Loss
Trading reverses on NSE, closes for Christmas with N2bn loss Nigerian Stock Exchange (NSE) on Thursday reversed its uptrend, dropping…
Dangote Refinery, A Potential Game-Changer, Says Platts
The Dangote refinery in Nigeria will be a “potential game-changer” once it comes online, according to a report by Platts…
Naira Gains N10 On Dollar At Black Market, Trades N465/$1
The Naira continued to wax stronger against the United States Dollar as it gained N10 at the black market on…
British Finance Sector’s ‘EU Passport’ Set To Expire
On January 1, the European finance sector will lose a major player as Britain begins to chart its own course,…
NPA Electronic Call-Up System To Decongest Ports
Come January 2021, the Nigerian Port Authority (NPA) will float the electronic version of its call-up system, which is expected…
Foreign Reserves Remain Pressured
Over the past few months, severe pressure has been mounting on the country’s foreign reserves in face of dwindling oil…
Nigeria’s Forex Inflow Hits $21bn In Q3
The total amount of foreign exchange inflow into the economy in the third quarter of 2020 stood at $21.46 billion,…
Brexit Trade Deal Sealed: EU And UK Clinch Narrow Accord
Britain clinched a narrow Brexit trade deal with the European Union on Thursday, just seven days before it exits one…
Another New Coronavirus Variant Found In Nigeria, Says Africa CDC
Another new variant of the novel coronavirus seems to have emerged in Nigeria, the head of Africa’s disease control body…
Sterling Gains, Dollar On Back Foot Amid Hopes Brexit Deal Imminent
Sterling extended gains on Thursday amid expectations a long-elusive Brexit deal was imminent, raising hopes the UK can avoid a…
CBN Directs Banks To Close Naira Remittances Ledgers
THE Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to close all ‘Naira General Ledgers’ used by…
Low Production Pushes Up Cement Price By 35%
The inability to meet market demand for cement coupled with low production volume by major cement companies in Nigeria have…
Oil Climbs As U.S. Inventory Draw, Brexit Deal Hopes Boost Risk Appetite
Oil extended gains on Thursday in light holiday trade as a drop in U.S. stockpiles spurred demand hopes, while hints…
NIN: Telecom Operators Get NIMC Enrolment Licences
Mobile network operators (MNOs) on Wednesday said they have enrollment and verification licences from the Federal Government. The development followed…
NSE Market Capitalisation Hits N20 Trillion On Sustained Rally
The market capitalisation of the Nigerian Stock Nigerian (NSE), which is the total value of all listed equities, hit a…
Pound Rally Seen Capped To 2018 Level On A Brexit Trade Deal
Currency strategists are delivering a reality check on how far the pound rally can go if the U.K. and European…
Biggest Nigerian Pension Fund Manager Has Plan To Help The Naira
Faced with bond yields coming off record lows and a hard-to-trade equity market, Nigeria’s biggest pension-fund manager wants the flexibility…