Naira Trades N485/$1 At Parallel Market As CBN Interventions Lessens Pressure –
At the same segment, the domestic currency also appreciated by N5 against the Pound to wrap the day at N635/£1…
Month: December 2020
CBN Introduces New Bills To Control Liquidity
The Central Bank of Nigeria has said it has introduced special bills as part of efforts to deepen the financial…
Naira Gains, Exchanges For 490/$
Naira exchanged to the dollar at 490/$ in the parallel market on Wednesday, after it had sold for N500 on…
Exporters, Agents Lament Difficulties In Getting CBN Proceeds Number
Nigerian exporters have lamented the difficulties and undue stress in obtaining the Nigerian Export Proceeds Number, a new procedure introduced…
OPEC+ Resumes Talks On 2021 Oil Policy Amid Disagreements
OPEC and Russia resume talks on Thursday in a bid to define policies for 2021 after an initial round of…
New CBN Policy Firms Up Naira Value In Parallel Market
The Nigerian currency, Naira, yesterday reversed its two weeks depreciation trend in the parallel market, recording N20 gain against the…
Nigeria Oilfield Sale To Eni, Shell Was Legally ‘Perfect’, Says Ex-Oil Minister Lawyer
The sale of a Nigerian oilfield to Eni and Royal Dutch Shell was legally “perfect” and there was no proof…
Sterling At One-Month Low Vs Euro As Brexit Trade Deal Doubts Emerge
Sterling fell to a one-month low against the euro and also dipped momentarily below $1.33 on Wednesday as Britain and…
Dollar Falls To Fresh 2-1/2-Year Low On U.S. Stimulus Bets
The safe-haven dollar sank to a fresh 2-1/2-year low in choppy trading on Wednesday, pressured once again by expectations of…
Nigerian Port Authority’s E-Call Up System Could Help Solve Apapa Gridlock
The Nigerian Ports Authority has finalised plans to implement the electronic call-up system to control the entry of trucks into…
Pope Condemns ‘Terroristic Massacre’ Of Nigerian Farmers
Pope Francis condemned on Wednesday the killing of scores of farmers and villagers in northeast Nigeria by suspected Islamist militants…
Stock Market Extends Gains By N55bn
Nigerian stock market sustained its positive outlook on Tuesday to begin the month of December on a positive note as…
Fitch Ratings: Forex Liquidity Risk May Affect Credit Rating Of Nigerian Banks
Fitch Ratings, a global credit rating agency, predicts a risk in the rating of Nigerian banks due to foreign currency…
Terrorism: Don’t Unfreeze #EndSARS Campaigners’ Accounts, CBN Begs Court
THE Central Bank of Nigeria has asked Justice Ahmed Mohammed of a Federal High Court in Abuja not to unfreeze…
Pound Jumps As Traders Look For Endgame To U.K.-EU Trade Talks
The pound rallied the most in more than a week, as speculation grows British and European officials are getting closer…
Naira Appreciates At N490/$1 In Parallel Market After New CBN Policy
This is coming a day after it weakened at N500 to the dollar in the parallel market. The CBN had,…
Diaspora Remittances, Domiciliary Accounts Become Battlegrounds For Nigeria’s FX Crisis
Truth is no one will gladly send a dollar to Nigeria at N390 if he or she can get N490-500…
Businesses Need Lower Interest Rates To Kick-Start Recovery
Creaking grid: Electric wires in Ojuelegba district in Nigeria’s commercial capital Lagos, June 18, 2018. REUTERS/Akintunde Akinleye Nigeria’s government needs…
Ivory Coast Struggles To Sell Cocoa Amid Dispute Over Farmer Premium
Ivory Coast has not sold up to 15% of cocoa from its ongoing main crop, while the vast majority of…
Threats, Detentions And Frozen Assets: Nigeria’s Protesters Depict Pattern Of Intimidation
At 7 a.m. on a recent Saturday, Onomene Adene received a call from a man whose voice she did not…
Musk to Tesla employees: ‘Our stock will immediately get crushed like a souffle under a sledgehammer!’ if we don’t control costs
Tesla CEO Elon Musk sent an e-mail to employees on Tuesday warning them that they need to control their spending…
Japan Makes COVID-19 Vaccine Free For Residents
Japan on Wednesday enacted a law to cover the cost of vaccination against COVID-19 for residents. Amid rising hopes for…
Dr. Scott Gottlieb sees Covid vaccine in ‘rationing type of environment’ well into the spring
Dr. Scott Gottlieb told CNBC on Wednesday the availability of coronavirus vaccine doses is likely to be limited in the…
Naira Reverses Loss, Trades At N470/$
It is currently trading at N470 to the dollar. The naira, which had previously exchanged at N500/$, strengthened after the…
CBN Directs Banks To Close Naira Ledger Accounts For IMTO
The Central Bank of Nigeria (CBN) has directed banks in the country to close all naira ledger accounts opened specifically…
Delay In Vaccine Rollout Is The Top Risk To The Economic Recovery, ECB Member Says
LONDON — A potential delay to the distribution of coronavirus vaccines is the biggest risk facing the economic recovery in…
Oil Holds Steady With OPEC Working To Bridge Gaps On Policy
Oil held steady in New York, with OPEC and its partners engaging in a diplomatic push to agree on output…
Minister Assures Investors Of Forex In Machinery Procurement
The Federal Government on Monday assured local raw materials investors that they will be given priority in foreign exchange (forex)…
Govt Assures Investors Of Access To Forex For Machinery Importation
The Minister of Industry, Trade and Investment, Mr. Niyi Adebayo has assured investors using local raw materials that the federal…
CBN Issues Fresh Directives On Foreign Currency Payment Of Diaspora Remittance
The Central Bank of Nigeria CBN) has issued fresh directives to International Money Transfer Operators (IMTOs) on foreign currency payment…