Naira Steady As Oil Output Slips And Remittances Fall
Nigeria’s central bank weakened the naira for the third time this year amid dollar shortages and lower than anticipated foreign…
Month: December 2020
We’ll Allow Freedom Of Speech, Not Reckless Use Of Social Media, Says FG
The Minister of Information and Culture, Alhaji Lai Mohammed, yesterday, restated the resolve of the President Muhammadu Buhari-led government to…
US Removes Visa Reciprocity Fee For Nigerians
The United States has removed the reciprocity fee imposed on visa applications for Nigerians. Nigeria’s Ministry of Foreign Affairs spokesman…
Tons Of Cocoa Beans Are Piling Up In Nigerian Ports
In Nigeria, efforts to claw back some of the foreign-exchange earnings lost to falling oil prices are causing delays in…
Nigerian Currency Loses 1.1% Against USD At Parallel Market
The Naira took a slide against the US Dollar at the black market on Friday after it depreciated by N5…
Lagos-Ibadan Train Tickets’ll Cost N3,000 To N6,000 – FG
The Federal Government on Friday announced the approval of transport fares on the new Lagos-Ibadan standard gauge rail line scheduled…
Sterling Falls As Hopes For A Brexit Deal Recede; Talks Continue
Sterling was falling on Friday, retreating from the one-year high it reached the day before, on growing scepticism that Britain…
Dollar Set For Worst Week In A Month; Euro Rides High
The dollar was headed for its worst week in a month on Friday while the euro gained, as investors bet…
Lufthansa Resumes Lagos, Abuja Flights
Lufthansa on Thursday welcomed passengers at Lagos airport on board on resumption of its nonstop flight from Frankfurt/Germany after an…
Arik, Aero May Merge For Business Survival
There are strong indications that stakeholders are considering a merger between Arik Air and Aero Contractors, two airlines under the…
Covid-19 – Restrict Int’l Flights, Muric Tells Govt
The Muslim Rights Concern has urged the Federal Government to restrict international flights over worldwide reports indicating a second wave…
Dangote Refinery Named Among 20 Most Influential Projects In The World
Dangote Oil Refinery has been listed among top 20 influential projects surveyed in the last 18 months by the renowned…
Taxpayers Relieved From Tax Investigation Beyond Six Years
The Tax Appeal Tribunal (TAT or “the Tribunal”) sitting in Benin on 8 October 2020 decided in Citibank Nigeria Limited…
Nigeria: New Policy To Improve Diaspora Remittances Starts Dec 4
The Central Bank of Nigeria (CBN), Mr Godwin Emefiele has announced that the new CBN policy to improve the Diaspora…
NSE: Application Of 0.08% Stamp Duty Begins December 7
The Nigerian Stock Exchange (NSE) yesterday said from Monday, December 7, the Stamp Duty rate of 0.08 per cent on…
Extortion Worsens Apapa Gridlock
‘Clearing agents lose average of N300m to illegal collection’ Importers, clearing agents and truck owners have expressed concerns over worsening…
Nigerian Farm Becomes Country’s Largest Sun-Powered Poultry Plant
Empower New Energy and Rensource have teamed up to create the largest power purchase agreement for solar energy in the…
Oil Advances Toward $50 After OPEC+ Clinches Compromise Deal
Oil extended gains toward $50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts, ending days…
Euro Bursts Through Resistance, Dollar Holds Near 2-1/2 Year Low
The euro was headed for its best week in a month on Friday and has blown past major resistance levels…
Naira Steady, Oil Output Slips, Remittances Fall
After hitting a four year low on Monday, the Naira has staged a minor rebound due to a broadly weaker…
Euro Rally’s Just Warming Up As Charts Signal Rise To $1.25
An advance that sent the euro to the highest since 2018 has put a move above $1.25 back into focus.…
Naira’s Exchange Rate Creates Woes For Businesses
The unstable nature of the naira is a very troubling development for key industry players and will continue to shape…
Excitement As New Diaspora Remittances Policy Takes Effect Today
There is palpable excitement among Forex users as the Central Bank of Nigeria’s (CBN) new policy that allows unhindered access…
4th Mainland Bridge: Less Than 800 Houses Will Go, FG, LASG Insist
The Federal and Lagos State governments Thursday insisted that less than 800 houses might be demolished to pave way for…
Nigeria’s Currency Woes Has The CBN Fussing Over Remittances
It is no big reveal that Africa’s largest economy, Nigeria, is the sixth biggest remittance recipient in the world. Last…
Nigeria’s Diaspora Remittance Inflows Could Rise To $2bn Monthly
Abuja — The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has said that following the introduction of the…
Nigeria Banks To Start FX Payout Under New Diaspora Remittance Rules
Nigerian banks will on Friday commence dollar payout for diaspora inflows and close naira remittance accounts after the regulator eased…
Naira Appreciates To N470/$1 At Parallel Market
The Naira’s fighting spirit continued on Thursday and at the close of business, it finished stronger against the United States…
Capital Inflows Into The Economy To Remain Weak — LCCI
ECONOMY The Lagos Chamber of Commerce and Industry (LCCI) has predicted that capital inflows into the Nigerian economy will remain…
Central Bank Of Nigeria Governor Decries The Use Of Parallel Exchange Rate As Citizens Switch To Crypto
The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the embrace of the parallel market exchange rate…