OPEC, Allies Agree To Increase Output By 500,000 Barrels A Day In January
OPEC and a group of Russia-led oil producers agreed to increase their collective output by 500,000 barrels a day next…
Month: December 2020
Western Union, MoneyGram, Others To Start Payment Of Forex Remittances To Nigerians Friday — CBN
International money transfer operators (IMTOs) and commercial banks in the country have agreed to start paying beneficiaries of diaspora remittances…
Nigeria Needs $3tn To Bridge Infrastructure Gap
The Vice President, Prof. Yemi Osinbajo, on Thursday, said Nigeria requires about $3tn over the next 30 years to bridge…
‘This Is Going To Be Challenging:’ How The UK Will Roll Out Pfizer’s Coronavirus Vaccine
The U.K. was the first country in the world to approve Pfizer and BioNTech’s groundbreaking coronavirus vaccine on Wednesday for…
Heathrow To Start Charging £5 For Airport Drop-Off
BY Harry S. Johnson Heathrow has announced it is exploring a proposal to implement a Forecourt Access Charge (FAC) for…
Nigerians Will Witness More Breakthroughs In Oil, Gas Sector In 2021 – Sylva
The Minister of State for Petroleum Resources, Timipre Sylva, on Thursday, assured that the country will record more outstanding results…
CBN Targeting $2bn Diaspora Remittances Monthly, Says Emefiele
The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday said the target of the CBN was for…
OPEC And Allies Agree To Gradually Increase Production After Days Of Discussions
LONDON — OPEC and non-OPEC allies, after days of tense discussions, agreed on Thursday to increase production by 500,000 barrels…
Nigeria Rakes In N7.8tr From Company Income Tax In 6yr
Nigeria has generated a total of N7.8 trillion from company income tax (CIT) from January 2015 till end of last…
Nigeria’s Central Bank Launches Special Bills To Manage Liquidity
Nigeria’s central bank has introduced special bills to manage excess liquidity on the money market awash with naira after foreign…
AFRICA-FX-Kenyan, Ugandan Currencies Seen Stable, Zambian Weaker
Kenya’s and Uganda’s currencies are expected to remain stable in the coming week. Zambia’s is expected to be under pressure…
Court Orders Final Forfeiture Of N235.4m Traced To Invictus Group CEO, Obiwanne Okeke
The Federal High Court Sitting in Lagos has ordered the final forfeiture to the Federal Government, the sum of N235,…
CBN Eyes $2bn Monthly Diaspora Remittance To Boost Economy
Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, on Thursday said that the apex bank was eyeing close to…
NNPC: $21bn NLNG Funds Legally Withdrawn
The Nigeria National Petroleum Corporation (NNPC) has said that the withdrawal of over $21 billion from the Nigeria Liquefied Natural…
$24bn Remittances: How Money Transfer Operators Sabotage Naira – Emefiele
DESPITE an estimated annual diaspora remittance of $24 billion, international money transfer operators (IMTO) have been shortchanging recipients by delivering…
We Are Working On Diezani’s Extradition, EFCC Tells Court
The Economic and Financial Crimes Commission (EFCC) told a Federal High Court in Abuja on Thursday that it has taken…
Stable Oil Prices Won’t Resolve Nigeria’s Economic Challenges’
An investment expert and Chief Executive of EFG Hermes Nigeria Limited, Lilian Olubi, has said that rising oil prices would…
UN Removes Marijuana From List Of World’s Most Dangerous Drugs
A United Nations commission voted to remove marijuana for medicinal purposes from a category of the world’s most dangerous drugs.…
$53m Foreign Airlines’ Funds Trapped In Nigeria
Foreign airlines trapped funds in Nigeria currently stand at $53 million, according to the International Air Transport Association (IATA). The…
A New Visa Credit Card Offers Bitcoin Rewards Instead Of Miles Or Cash
a Inc. is partnering with cryptocurrency startup BlockFi to offer a credit card that rewards purchases with Bitcoin rather than…
Dollar Is Dropping To Multi-Year Lows Against Peers, One By One
The dollar is steadily moving down the pack of the world’s currencies in December. The euro, the Australian and Canadian…
US Soybean Export Council To Establish Excellence Centres In Nigeria
The United States Soybean Export Council (USSEC), the American Soybean Association’s World Initiative for Soy in Human Health (ASA/WISHH) and…
OPEC+ Working On Compromise For 2021 Oil Policy, Sources Say
OPEC and Russia have moved closer to a compromise over oil supply policy for 2021 after talks earlier this week…
Dollar Plumbs Two-Year Lows As Stimulus, Vaccine Hopes Boost Risk Appetite
The dollar index hit its lowest in more than two years on Thursday, while the euro rose above $1.21 as…
Sterling Holds Above $1.34 But Derivatives Signal Brexit Unease
Sterling clung on to $1.34 on Thursday thanks to broad dollar weakness, but derivative markets were flashing red on doubts…
Nigerian Manufacturers Call For Review Of Border Closure
The Manufacturers Association of Nigeria (MAN) has urged the federal government to review its border closure policy and allow the…
Canadian Dollar Notches A Two-Year High On Higher Oil Prices
The Canadian dollar edged higher against its U.S. counterpart on Wednesday, as hopes rose that major oil producers will maintain…
Nigeria Resumes Petrol Importation From China
According to S&P Global Platts, data from the general administration of customs (GAC) of China showed that the country shipped…
UK Opens New Visa Routes For Skilled Workers
Applications for the new skilled worker visa by the UK opened on December 1 The United Kingdom (UK) has launched…
CBN Directs Banks To Close Naira Accounts For IMTO Proceeds
Following its new policy that grants unfettered access to forex from Diaspora and other money transfer remittances, the Central Bank…