Sterling Slips Below $1.34 As Brexit Trade Deal Doubts Emerge
Sterling dipped below $1.34 as doubts resurfaced over whether Britain can seal a post-Brexit trade deal with the European Union,…
Month: December 2020
Nigeria’s Biggest Bank In Talks To Buy Atlas Mara Assets
Nigeria’s biggest bank is in talks about a potential acquisition of assets belonging to Bob Diamond’s Atlas Mara Ltd. to…
Dollar Rises From Two-And-A-Half-Year Lows, Risk Currencies Retreat
The dollar rose from a two-and-a-half-year low on Wednesday as investors assessed the likelihood of further fiscal stimulus in the…
CBN Introduces Special Bills To Deepen Financial Market
The Central Bank of Nigeria (CBN) will make N250 billion available for infrastructure funding in a bid to expand gas…
Dollar Savers Offload Deposits As Naira Exchanges For N490/$
The naira on Tuesday recorded significant gains against the dollar. The local currency’s appreciation against the greenback came a day…
Naira Depreciates At I&E On 379.6% Jump In FX Demand
The Naira slid by 0.96 per cent or N3.75 against the US Dollar at the Investors and Exporters (I&E) window…
Will I Need A Visa To Go To The EU After Brexit?
With less than a month before the end of the Brexit transition period, there are still many uncertainties about the…
FX Inflows: CBN Enables Cash Withdrawal In Foreign Currencies
In order to bridge the wide exchange rate between the legalised foreign exchange (forex) markets and the parallel market, the…
CBN Releases Banks’ Excess CRR To Spur Economic Recovery
As part of efforts to support economic recovery and propel the quest to return to the growth path, the Central…
Customs Explains Multiple Import Counter-Check System
COORDINATOR of the Comptroller General of Customs Strike Force Zone ‘A’, Ahmadu Bello Shuaibu, has said the Service’s four layer…
Trump Sues To Reverse Biden Win In Wisconsin
President Donald Trump’s campaign filed a lawsuit Tuesday in Wisconsin seeking to invalidate President-elect Joe Biden’s win there, the latest…
AfCFTA – Nigeria Can Ban 10% Of Sensitive Goods, Others At Borders
Lagos and Abuja — In spite of the African Continental Free Trade Area (AfCFTA) starting in January, Nigeria has the…
Nikola founder Trevor Milton can sell his 91.6 million shares starting Tuesday as insider lockup period expires
Ousted Nikola founder and Chairman Trevor Milton is the company’s largest shareholder with more than a fourth of the start-up’s…
Nigeria’s Oil Rig Count Dips By 30% In One Month
Nigeria’s active rig count has dropped significantly by 30 per cent to seven in October 2020 as against 10 recorded…
Euro Near Three-Month High As Dollar Takes A Hit; Bitcoin At New High
The euro was close to a three-month high on Tuesday as the U.S. dollar fell on expectations of more monetary…
Crash In Money Market Instruments Triggers N2.3tr Gain
Investors on the Nigerian Stock Exchange (NSE) gained N2.3 trillion in November, as the market recorded its best monthly appreciation…
Buhari Asks Nigerians To ‘Embrace Gas As Alternative To Fuel’
The President made this call on Tuesday during the unveiling of the National Gas Expansion Programme and National Autogas Roll-out…
First Virtual Trade Mission For UK-Africa Legal Services
stry of Justice’s Legal Services are GREAT (LSAG) campaign, it will promote the UK’s prestigious legal sector to some of…
Nigeria To Push CNG As Alternative Transport Fuel, Reduce Reliance On Gasoline
London — Nigeria has started the roll out of compressed natural gas (CNG) as a key transport fuel as part…
FG, Egyptian Firm Sign Pact To Invest In Gold Mining
The Federal Government and Messrs La Mancha Incorporated, a leading Luxembourg Incorporated Private Gold Development and Mining Company in Cairo,…
Federal Reserve Says Key Bank Lending Rate Will Be Phased Out By June 2023
An interest rate that banks around the world use as a benchmark for short-term borrowing will be phased out and…
2016 REPOST: Nigeria’s Case Study On How Not To Float Your Currency
Rumors of rate fixing. Scarcity of foreign exchange. A widening gap between the official rate and the runaway blackmarket. Nearly…
FG Lost N1.3trn To Import Duty, VAT Waivers –Minister
The minister of finance, budget and national planning Hajiya Zainab Ahamed Shamsuna has said that the federal government lost N1.3…
Dollar Loses Some Bounce As Focus Shifts To Fed
An under pressure U.S. dollar handed back part of its month-end bounce on Tuesday, as investors reckoned on more monetary…
Nigeria Eases Rules On Diaspora Remittances To Boost FX Liquidity
Nigeria hopes to attract more remittances from its diaspora to boost foreign currency liquidity after the central bank issued a…
CBN Issues New Guidelines On Foreign Remittances
The Central Bank of Nigeria has said beneficiaries of diaspora remittances can now receive monies sent from abroad in foreign…
CBN Okays Dollar Collection For Diaspora Remittances
The Central Bank of Nigeria (CBN) has stopped naira payment to recipients of diaspora remittances (dollar inflows) from International Money…
CBN Issues Subtle Warning Explaining How Domiciliary Accounts Should Be Used
The Central Bank of Nigeria (CBN) issued a circular on Monday clarifying how domiciliary accounts will be operated in the…
Forex Scarcity Bites Harder, CBN Amends Diasporan Remittance Law
The Central Bank of Nigeria said on Monday that it had amended the procedures for receipt of diaspora remittances as…
Oil Falls After OPEC+ Talks Delay Sets Off Supply Alarm
Oil prices fell on Tuesday as concerns over mounting supply returned to the fore after leading producers delayed talks on…