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