Business Local OPEC, Allies Agree To Increase Output By 500,000 Barrels A Day In January December 5, 2020 Ekemini OPEC and a group of Russia-led oil producers agreed to increase their collective output by 500,000 barrels a day next month, signaling the world’s biggest producers are betting the worst…
Business Local Western Union, MoneyGram, Others To Start Payment Of Forex Remittances To Nigerians Friday — CBN December 5, 2020 Ekemini International money transfer operators (IMTOs) and commercial banks in the country have agreed to start paying beneficiaries of diaspora remittances in foreign currencies through the designated bank of their choice,…
Business Local Nigeria Needs $3tn To Bridge Infrastructure Gap December 5, 2020 Ekemini The Vice President, Prof. Yemi Osinbajo, on Thursday, said Nigeria requires about $3tn over the next 30 years to bridge the infrastructure gap across the country. In his address at…
World ‘This Is Going To Be Challenging:’ How The UK Will Roll Out Pfizer’s Coronavirus Vaccine December 5, 2020 Ekemini The U.K. was the first country in the world to approve Pfizer and BioNTech’s groundbreaking coronavirus vaccine on Wednesday for widespread use. In a way, that was the easy part.…
Business Heathrow To Start Charging £5 For Airport Drop-Off December 4, 2020 Ekemini BY Harry S. Johnson Heathrow has announced it is exploring a proposal to implement a Forecourt Access Charge (FAC) for vehicles in late 2021 to prevent a car led airport…
Business Local Nigerians Will Witness More Breakthroughs In Oil, Gas Sector In 2021 – Sylva December 4, 2020 Ekemini The Minister of State for Petroleum Resources, Timipre Sylva, on Thursday, assured that the country will record more outstanding results in the oil and gas industry in 2021. He said…
Business Local CBN Targeting $2bn Diaspora Remittances Monthly, Says Emefiele December 4, 2020 Ekemini The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday said the target of the CBN was for the country to attract about $2bn monthly as remittances from…
Business Local OPEC And Allies Agree To Gradually Increase Production After Days Of Discussions December 4, 2020 Ekemini LONDON — OPEC and non-OPEC allies, after days of tense discussions, agreed on Thursday to increase production by 500,000 barrels per day beginning in January. This will bring the total…
Business Local Nigeria Rakes In N7.8tr From Company Income Tax In 6yr December 4, 2020 Ekemini Nigeria has generated a total of N7.8 trillion from company income tax (CIT) from January 2015 till end of last quarter (Q3 2020), an analysis of relevant data has shown.…
Business Local Nigeria’s Central Bank Launches Special Bills To Manage Liquidity December 4, 2020 Ekemini Nigeria’s central bank has introduced special bills to manage excess liquidity on the money market awash with naira after foreign investors dumped local assets as a result of the pandemic-induced…
Business Local AFRICA-FX-Kenyan, Ugandan Currencies Seen Stable, Zambian Weaker December 4, 2020 Ekemini Kenya’s and Uganda’s currencies are expected to remain stable in the coming week. Zambia’s is expected to be under pressure versus the U.S. dollar. NIGERIA Nigerian naira is seen firmer…
Local Court Orders Final Forfeiture Of N235.4m Traced To Invictus Group CEO, Obiwanne Okeke December 4, 2020 Ekemini The Federal High Court Sitting in Lagos has ordered the final forfeiture to the Federal Government, the sum of N235, 451, 969.89 (Two Hundred and Thirty-five Million, Four Hundred and…
Business Local CBN Eyes $2bn Monthly Diaspora Remittance To Boost Economy December 4, 2020 Ekemini Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, on Thursday said that the apex bank was eyeing close to $2 billion monthly from diaspora remittance, a development that has…
Business Local NNPC: $21bn NLNG Funds Legally Withdrawn December 4, 2020 Ekemini The Nigeria National Petroleum Corporation (NNPC) has said that the withdrawal of over $21 billion from the Nigeria Liquefied Natural Gas (NLNG) dividends account is legal. The Group Managing Director…
Business Local $24bn Remittances: How Money Transfer Operators Sabotage Naira – Emefiele December 4, 2020 Ekemini DESPITE an estimated annual diaspora remittance of $24 billion, international money transfer operators (IMTO) have been shortchanging recipients by delivering in local currency and using the hard currency to attack…
Business Local We Are Working On Diezani’s Extradition, EFCC Tells Court December 4, 2020 Ekemini The Economic and Financial Crimes Commission (EFCC) told a Federal High Court in Abuja on Thursday that it has taken steps to execute the summons issued to compel the appearance…
Business Local Stable Oil Prices Won’t Resolve Nigeria’s Economic Challenges’ December 4, 2020 Ekemini An investment expert and Chief Executive of EFG Hermes Nigeria Limited, Lilian Olubi, has said that rising oil prices would help Nigeria to achieve economic stability. She, however, said a…
World UN Removes Marijuana From List Of World’s Most Dangerous Drugs December 4, 2020 Ekemini A United Nations commission voted to remove marijuana for medicinal purposes from a category of the world’s most dangerous drugs. Nigeria though opposed the move. Experts say that the vote…
Business Local $53m Foreign Airlines’ Funds Trapped In Nigeria December 4, 2020 Ekemini Foreign airlines trapped funds in Nigeria currently stand at $53 million, according to the International Air Transport Association (IATA). The airlines are unable to repatriate the money which represents proceeds…
Business A New Visa Credit Card Offers Bitcoin Rewards Instead Of Miles Or Cash December 4, 2020 Ekemini a Inc. is partnering with cryptocurrency startup BlockFi to offer a credit card that rewards purchases with Bitcoin rather than airline miles or cash. Users of the Bitcoin Rewards Credit…
Business Dollar Is Dropping To Multi-Year Lows Against Peers, One By One December 4, 2020 Ekemini The dollar is steadily moving down the pack of the world’s currencies in December. The euro, the Australian and Canadian dollars, and the Korean won have all touched their highest…
Business US Soybean Export Council To Establish Excellence Centres In Nigeria December 4, 2020 Ekemini The United States Soybean Export Council (USSEC), the American Soybean Association’s World Initiative for Soy in Human Health (ASA/WISHH) and the US Grains Council (USGC) have jointly expressed their dedication…
Business Local OPEC+ Working On Compromise For 2021 Oil Policy, Sources Say December 4, 2020 Ekemini OPEC and Russia have moved closer to a compromise over oil supply policy for 2021 after talks earlier this week failed to yield a decision on how to tackle weak…
Business Dollar Plumbs Two-Year Lows As Stimulus, Vaccine Hopes Boost Risk Appetite December 4, 2020 Ekemini The dollar index hit its lowest in more than two years on Thursday, while the euro rose above $1.21 as signs of progress towards U.S. fiscal stimulus and optimism about…
Business Sterling Holds Above $1.34 But Derivatives Signal Brexit Unease December 4, 2020 Ekemini Sterling clung on to $1.34 on Thursday thanks to broad dollar weakness, but derivative markets were flashing red on doubts that Britain and the European Union can strike a Brexit…
Business Local Nigerian Manufacturers Call For Review Of Border Closure December 4, 2020 Ekemini The Manufacturers Association of Nigeria (MAN) has urged the federal government to review its border closure policy and allow the resumption of normal trade activities in the country. Nigerian borders…
Business Canadian Dollar Notches A Two-Year High On Higher Oil Prices December 4, 2020 Ekemini The Canadian dollar edged higher against its U.S. counterpart on Wednesday, as hopes rose that major oil producers will maintain production limits next year and the prospect of a coronavirus…
Business Local Nigeria Resumes Petrol Importation From China December 4, 2020 Ekemini According to S&P Global Platts, data from the general administration of customs (GAC) of China showed that the country shipped 37,000 metric tonnes of petrol to Nigeria in September 2020…
Business UK Opens New Visa Routes For Skilled Workers December 4, 2020 Ekemini Applications for the new skilled worker visa by the UK opened on December 1 The United Kingdom (UK) has launched a number of immigration routes under its new points-based immigration…
Business Local CBN Directs Banks To Close Naira Accounts For IMTO Proceeds December 3, 2020 Ekemini Following its new policy that grants unfettered access to forex from Diaspora and other money transfer remittances, the Central Bank of Nigeria (CBN) yesterday directed all banks to close all…
