Business Local Naira Steady As Oil Output Slips And Remittances Fall December 7, 2020 Ekemini Nigeria’s central bank weakened the naira for the third time this year amid dollar shortages and lower than anticipated foreign currency inflows. Although the local currency weakened to N500 in…
Local We’ll Allow Freedom Of Speech, Not Reckless Use Of Social Media, Says FG December 7, 2020 Ekemini The Minister of Information and Culture, Alhaji Lai Mohammed, yesterday, restated the resolve of the President Muhammadu Buhari-led government to regulate the social media in its spirited bid to keep…
Business US Removes Visa Reciprocity Fee For Nigerians December 7, 2020 Ekemini The United States has removed the reciprocity fee imposed on visa applications for Nigerians. Nigeria’s Ministry of Foreign Affairs spokesman Ferdinand Nwonye in a statement on Friday said the reciprocity…
Business Local Tons Of Cocoa Beans Are Piling Up In Nigerian Ports December 6, 2020 Ekemini In Nigeria, efforts to claw back some of the foreign-exchange earnings lost to falling oil prices are causing delays in exports ranging from cocoa beans to cashew nuts, and adding…
Business Local Nigerian Currency Loses 1.1% Against USD At Parallel Market December 6, 2020 Ekemini The Naira took a slide against the US Dollar at the black market on Friday after it depreciated by N5 to trade at N475/$1 in contrast to the previous rate…
Local Lagos-Ibadan Train Tickets’ll Cost N3,000 To N6,000 – FG December 6, 2020 Ekemini The Federal Government on Friday announced the approval of transport fares on the new Lagos-Ibadan standard gauge rail line scheduled to begin full commercial operations in January. It said passengers…
Business Sterling Falls As Hopes For A Brexit Deal Recede; Talks Continue December 6, 2020 Ekemini Sterling was falling on Friday, retreating from the one-year high it reached the day before, on growing scepticism that Britain will be able to clinch a post-Brexit trade deal with…
Business Dollar Set For Worst Week In A Month; Euro Rides High December 6, 2020 Ekemini The dollar was headed for its worst week in a month on Friday while the euro gained, as investors bet the U.S. currency has further to fall and that the…
Business Lufthansa Resumes Lagos, Abuja Flights December 6, 2020 Ekemini Lufthansa on Thursday welcomed passengers at Lagos airport on board on resumption of its nonstop flight from Frankfurt/Germany after an eight-month suspension following the COVID-19 restrictions. The leading German carrier…
Business Arik, Aero May Merge For Business Survival December 5, 2020 Ekemini There are strong indications that stakeholders are considering a merger between Arik Air and Aero Contractors, two airlines under the management of Asset Management Corporation of Nigeria (AMCON). This, THISDAY…
Business Local Covid-19 – Restrict Int’l Flights, Muric Tells Govt December 5, 2020 Ekemini The Muslim Rights Concern has urged the Federal Government to restrict international flights over worldwide reports indicating a second wave of COVID-19. Its director, Prof. Ishaq Akintola, in a statement…
Business Local Dangote Refinery Named Among 20 Most Influential Projects In The World December 5, 2020 Ekemini Dangote Oil Refinery has been listed among top 20 influential projects surveyed in the last 18 months by the renowned Project Management Institute (PMI) global, for the potential to fuel…
Business Local Taxpayers Relieved From Tax Investigation Beyond Six Years December 5, 2020 Ekemini The Tax Appeal Tribunal (TAT or “the Tribunal”) sitting in Benin on 8 October 2020 decided in Citibank Nigeria Limited (Citibank or “the Appellant”) and Rivers State Board of Internal…
Business Local Nigeria: New Policy To Improve Diaspora Remittances Starts Dec 4 December 5, 2020 Ekemini The Central Bank of Nigeria (CBN), Mr Godwin Emefiele has announced that the new CBN policy to improve the Diaspora remittances into the country takes effect on Dec. 4. Emefiele…
Business Local NSE: Application Of 0.08% Stamp Duty Begins December 7 December 5, 2020 Ekemini The Nigerian Stock Exchange (NSE) yesterday said from Monday, December 7, the Stamp Duty rate of 0.08 per cent on securities transactions in the market will be implemented. The new…
Business Local Extortion Worsens Apapa Gridlock December 5, 2020 Ekemini ‘Clearing agents lose average of N300m to illegal collection’ Importers, clearing agents and truck owners have expressed concerns over worsening gridlock along the access roads at the Tin Can Island…
Business Local Nigerian Farm Becomes Country’s Largest Sun-Powered Poultry Plant December 5, 2020 Ekemini Empower New Energy and Rensource have teamed up to create the largest power purchase agreement for solar energy in the Commercial and Industrial sector in Nigeria. The 700KWp ground-mounted solar…
Business Local Oil Advances Toward $50 After OPEC+ Clinches Compromise Deal December 5, 2020 Ekemini Oil extended gains toward $50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts, ending days of uncertainty after cracks emerged in the alliance earlier in…
Business Euro Bursts Through Resistance, Dollar Holds Near 2-1/2 Year Low December 5, 2020 Ekemini The euro was headed for its best week in a month on Friday and has blown past major resistance levels as investors piled into bets the U.S. dollar has further…
Business Local Naira Steady, Oil Output Slips, Remittances Fall December 5, 2020 Ekemini After hitting a four year low on Monday, the Naira has staged a minor rebound due to a broadly weaker Dollar. Nigeria’s central bank weakened the Naira for the third…
Business Euro Rally’s Just Warming Up As Charts Signal Rise To $1.25 December 5, 2020 Ekemini An advance that sent the euro to the highest since 2018 has put a move above $1.25 back into focus. It’s a level that has eluded the currency for most…
Business Local Naira’s Exchange Rate Creates Woes For Businesses December 5, 2020 Ekemini The unstable nature of the naira is a very troubling development for key industry players and will continue to shape and reshape the direction of the nation’s economy and businesses.…
Business Local Excitement As New Diaspora Remittances Policy Takes Effect Today December 5, 2020 Ekemini There is palpable excitement among Forex users as the Central Bank of Nigeria’s (CBN) new policy that allows unhindered access to Diaspora remittances takes effect today. The CBN Governor, Mr.…
Business Local 4th Mainland Bridge: Less Than 800 Houses Will Go, FG, LASG Insist December 5, 2020 Ekemini The Federal and Lagos State governments Thursday insisted that less than 800 houses might be demolished to pave way for the construction of the much-publicized 37’kilometer Fourth Mainland Bridge project,…
Business Local Nigeria’s Currency Woes Has The CBN Fussing Over Remittances December 5, 2020 Ekemini It is no big reveal that Africa’s largest economy, Nigeria, is the sixth biggest remittance recipient in the world. Last year, USD 17.5 Bn flowed into Nigeria in the form…
Business Local Nigeria’s Diaspora Remittance Inflows Could Rise To $2bn Monthly December 5, 2020 Ekemini Abuja — The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has said that following the introduction of the new Diaspora Forex Remittances policy, the apex bank was targeting…
Business Local Nigeria Banks To Start FX Payout Under New Diaspora Remittance Rules December 5, 2020 Ekemini Nigerian banks will on Friday commence dollar payout for diaspora inflows and close naira remittance accounts after the regulator eased money transfer rules to try to boost forex liquidity in…
Business Local Naira Appreciates To N470/$1 At Parallel Market December 5, 2020 Ekemini The Naira’s fighting spirit continued on Thursday and at the close of business, it finished stronger against the United States Dollar. During the session, the local currency appreciated by N15…
Business Local Capital Inflows Into The Economy To Remain Weak — LCCI December 5, 2020 Ekemini ECONOMY The Lagos Chamber of Commerce and Industry (LCCI) has predicted that capital inflows into the Nigerian economy will remain weak, the trend that saw a drop by 51 percent…
Business Local Central Bank Of Nigeria Governor Decries The Use Of Parallel Exchange Rate As Citizens Switch To Crypto December 5, 2020 Ekemini The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the embrace of the parallel market exchange rate by some professionals in that country is unfair and unfortunate.…
