Business Local Fresh Pressure Mounts On Naira, Trades N482/$1 At Black Market December 8, 2020 Ekemini During the trading session, the local currency depreciated by N7 to sell for N482/$1 in contrast to the previous session’s rate of N475/$1. Last week, calm was gradually returning to…
Business ‘New Policy On Diaspora Remittances ‘Ll Halt Naira Slide’ December 8, 2020 Ekemini The Central Bank of Nigeria (CBN) has continued to receive commendations for the reintroduction of the policy which allowed beneficiaries of diaspora remittances and foreign exchange transfers to collect their…
Business Local FG To Generate $30bn From 22 Major Products On Export December 8, 2020 Ekemini Federal Government has said it is working assiduously to boost the country’s non-oil revenues having rolled out export policies for 22 major products that could generate up to US$30 billion…
Business Local Nigeria Resumes Fuel Import From China December 8, 2020 Ekemini According to data from the General Administration of Customs as obtained by S&P Global Platts, the Asian country shipped 37,000 metric tonnes of petrol to Nigeria in September for the…
Business Local Buhari Renominates Kuru As MD Of AMCON; Appoints New Heads For NDIC December 8, 2020 Ekemini President Muhammadu Buhari has renominated Mr Ahmed Kuru as Managing Director and Mr Eberechukwu Uneze and Mr Aminu Ismail as Executive Directors of the Asset Management Corporation of Nigeria, AMCON,…
Business Local December 2020 FGN Savings Bonds Offer For Subscription December 8, 2020 Ekemini Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 Debt Management Office on behalf of the Federal…
Business China Hands Out $3 Million Of Digital Yuan As JD.Com Becomes First Online Platform To Accept It December 8, 2020 Ekemini GUANGZHOU, China — Chinese e-commerce firm JD.com said it has become the first online platform to accept the country’s digital currency. The announcement on Saturday comes as part of another…
Business Local Nigerians Must Embrace Production To Grow Economy —Emefiele December 8, 2020 Ekemini Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said Nigeria must return to the golden era age when the country produced goods and services to grow the…
Business Local 190,000 Applicants Jostle For 9,460 NIS, NSCDC Jobs December 8, 2020 Ekemini About 190,000 applicants are jostling for 9,460 job slots at the Nigeria Immigration Service and the Nigeria Security and Civil Defence Corps (NSCDC). The candidates sat for the examination on…
Business Local Oil Falls On Surging Virus Cases And U.S.-China Tensions December 8, 2020 Ekemini Oil prices slipped on Monday as the positive impact from COVID-19 vaccines and an OPEC+ deal on oil production cuts was undermined by surging coronavirus cases and heightened tensions between…
Business Local CBN Charges Nigerians On Lower Appetite For Foreign Goods December 8, 2020 Ekemini The Central Bank of Nigeria (CBN), yesterday, advised Nigerians to moderate their taste for foreign goods with a view to stabilising the nation’s economy. Its Governor, Godwin Emefiele, gave the…
Business Local Norway’s DNB Faces $45 Million Fine Over Money Laundering Compliance Work December 8, 2020 Ekemini DNB, Norway’s biggest bank, could be fined 400 million Norwegian crowns ($45.4 million) by the country’s financial regulator (FSA) for failing to comply with anti-money laundering regulations, the bank said…
Business Local CBN Defines Chief Compliance Officers’ Role In Banks December 8, 2020 Ekemini The Central Bank of Nigeria (CBN) has approved new requirement for the appointment of chief compliance officers (CCOs) by banks. In a letter entitled: “Re: Status of Chief Compliance Officers,”…
Business Brexit Crunch Time As EU And UK Still Divided Over Trade Deal December 8, 2020 Ekemini Brexit trade talks hung in the balance on Monday as Britain and the European Union made a last-ditch attempt to bridge significant differences and strike a deal that would avoid…
Business Local Tumbling Naira: Resolving Nigeria’s Balance Of Payment Deficit December 8, 2020 Ekemini Domiciliary accounts and remittances have emerged as twin touchy issues in the management of Nigeria’s foreign exchange market (forex). And for many years, the obvious gray areas in the administration…
Business Sterling Volatility Jumps As No-Deal Brexit Risks Rise December 8, 2020 Ekemini Measures of expected swings in the British pound over the coming days jumped to their highest levels in eight months as fears rose that British and European Union negotiators will…
Business Dollar Mired Near Two-And-Half Year Low, Sterling Eyes Last-Ditch Brexit Talks December 8, 2020 Ekemini The dollar started the week on the back foot on Monday after soft U.S. jobs data only solidified expectations of a fresh economic package, while the British pound eyed last-ditch…
Business Local Suspension Of Barge Operations: Nigeria Economy On The Verge Of Collapse – SINET December 8, 2020 Ekemini President Muhammadu Buhari has been urged to urgently call for the immediate withdrawal of a letter which purportedly ordered the suspension of Roro Barge operations from all terminals in the…
Business Local Lufthansa Resumes Flights To Nigeria December 8, 2020 Ekemini The first Lufthansa flight after an eight months suspension occasioned by the coronavirus pandemic, arrived in Lagos last Thursday. The airline said it is offering in December, up to eight…
Business Local CBN Expects $2bn Diaspora Remittances Monthly, Says Emefiele December 7, 2020 Ekemini The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday, said the target of the CBN is for the country to attract about $2bn monthly as remittances from…
Business UK And EU Leaders Say Brexit Talks To Resume In Bid To Find A Deal December 7, 2020 Ekemini British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen asked their Brexit negotiators to resume talks but cautioned no deal was possible unless key issues were…
Business Local Nigeria Losing $1.9bn Annually To Foreign Ship Owners – NSC December 7, 2020 Ekemini The Chief Executive Officer, Nigerian Shippers’ Council Hassan Bello, has said that Nigeria is losing $1.9bn to foreign ship owners annually. Bello, who is also the chairman of the Nigerian…
Business U.S. Ends Exchange Programs With China, Calling Them ‘Propaganda’ December 7, 2020 Ekemini The U.S. State Department said on Friday it has ended five cultural exchange programs with China, calling them “soft power propaganda tools.” The Department said on its website it had…
Business Canadian Dollar Cracks 78 U.S. Cents On Strong Jobs Data December 7, 2020 Ekemini The Canadian dollar strengthened to a two-year high against its U.S. counterpart on Friday as Wall Street rose and data showed Canada’s economy added more jobs than expected in November,…
Business Local Dangote: Naira Devaluation Will Not Affect Nigeria’s Food Fortification Targets December 7, 2020 Ekemini Dangote said this at the 3rd Annual Nigeria Food Processing and Leadership Forum, which he chaired alongside Bill Gates, co-chair of the Bill and Melinda Gates Foundation (BMGF). According to…
Business Pound Soars To 2018 High On Brexit Optimism, Dollar Weakness December 7, 2020 Ekemini The pound rallied on mounting speculation that Britain and the European Union are closing in on a Brexit trade agreement. Sterling advanced as much as 0.7% to $1.3539, reaching its…
Africa Business Next Africa: Where Are The Vaccines?, South Africans Ask December 7, 2020 Ekemini The plaudits South Africa won for its swift initial response to the coronavirus in March are a distant memory. While the U.K., U.S. and Europe plan to roll out vaccines…
Local Why We’ve Been Able To Fast-Track Lagos-Badagry Expressway Project — FG December 7, 2020 Ekemini The Federal Government says additional alternative funding is speeding up reconstruction of the Lagos-Badagry Expressway. The Federal Controller of Works in Lagos, Olukayode Popoola, told the News Agency of Nigeria…
Local Devaluation In Nigeria: Lesson For The Next Government By Dr Nasir Aminu December 7, 2020 Ekemini The effects of weakening the naira include more expensive imported goods. In an ideal world, this should discourage imports into the country. For Nigeria, weakening the naira will only increase…
Business Local Recession: Nigerians Must Moderate Foriegn Goods Consumption To Stabilize Economy – CBN December 7, 2020 Ekemini Central Bank of Nigeria, has advised Nigerians to moderate their insatiable tastes for consumption of foriegn goods to stabilize the nation’s economy. CBN Governor, Mr Godwin Emefiele gave the advice…
