Business World U.S. Dollar On The Verge Of Becoming A Problem Currency Again December 19, 2020 Ekemini The Dollar buckled again Thursday after wading knee-deep into losses against all majors in moves that risk making it a global problem, sooner or later and once again, as upbeat…
Business Concerns Over Rising Pirate Attacks At Gulf Of Guinea December 19, 2020 Ekemini There are concerns that the surge in cases of pirate attacks and kidnapping of crews on the Gulf of Guinea and Nigerian waters may further threaten the prospect of the…
Business Bitcoin Adoption In Nigeria Soars As Central Bank Blocks Remittances In Naira December 19, 2020 Ekemini The Central Bank of Nigeria’s “Naira defense” policy is pushing more Nigerians towards Bitcoin and crypto adoption. Peer-to-peer (P2P) Bitcoin (BTC) volume in Nigeria continues to rise as Africa’s largest…
Business Local Oil Dips, Heads For Weekly Gain As Vaccine Rollouts Support December 19, 2020 Ekemini Oil dipped towards $51 a barrel on Friday though still headed for a seventh weekly gain in a row as investors focused on the rollout of COVID-19 vaccines and looked…
Business Local NIS Confirms Upsurge In Emigration December 19, 2020 Ekemini The Nigeria Immigration Service (NIS) has confirmed the increase in the number of Nigerians struggling to travel overseas due to economic hardship. There has also been an alleged increase in…
Business Foreign Investment Pours Into China Despite Trade War, Pandemic December 19, 2020 Ekemini For all the talk of an economic decoupling between China and the U.S. and its allies, foreign companies continue to pour money into the Asian nation. The coronavirus pandemic and…
Africa Business Africans In Diaspora Seek To Be Included In The Continent’s Development Agenda December 19, 2020 Ekemini This was discussed at a meeting that took place in Nairobi this week attended by 150 Africans drawn from different countries in the continent-and outside the continent, with hundreds more…
Business Local Oil, Power Firms Owe Nigerian Banks N5.83tn – NBS December 19, 2020 Ekemini The debts owed by energy firms to Nigerian banks rose by N200bn to N5.85tn in the third quarter of this year, according to the National Bureau of Statistics. The N5.85tn…
Business Wall Street’s Call For Yen At 100 Is Catching On At Japan Banks December 19, 2020 Ekemini – Wall Street and Japan’s largest banks are starting to see eye to eye on the yen’s outlook, saying its advance could break the barrier of 100 per dollar next…
Business Local Naira Falls At Black Market As MMOs, PSPs Are Barred From Receiving Diaspora Remittances December 19, 2020 Ekemini Forex turnover rose by 9.6%, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close at N394/$1 during intra-day trading on Thursday, December 17. Also,…
Business Local OPEC To Increase Production December 19, 2020 Ekemini WHILE the most recent Petroleum Status Report tilted firmly into positive territory, the crude market has taken a cautious stance despite the bullish inventory report. In the long-run, strategists at…
Business Local ‘E-Customs Platform To Commence Next Week’ December 19, 2020 Ekemini The Nigeria Customs Service has disclosed plans to roll out an electronic-Customs platform with capacity to promote future increase in cargo throughput using technology. The e-Customs set to commence next…
Business Local House To Investigate Viability Of Scanners At Seaports, Border Stations December 19, 2020 Ekemini The House of Representatives has directed its Committee on Customs and Excise (CCE) to investigate the total collapse of the multimillion dollar scanners in all the sea ports and border…
Business Investors Take Some Money Off Table After Week Of Dollar Selling December 19, 2020 Ekemini The dollar took a breather on Friday after enduring a week-long beating that has pushed it below major support levels as its slide sucked in more short sellers keen to…
Banking Business Local Nigeria’s Apex Bank Bans Mobile Money Operators From Receiving Remittances December 19, 2020 Ekemini The Central Bank of Nigeria (CBN) has suspended Mobile Money Operators, Payment Switch providers from receiving remittances or integrating their systems with International Money Transfer Operators (IMTOs). According to a…
World Pre-Travel COVID-19 Testing Rate For Travels Within ECOWAS To Be Harmonised— Health Minister December 19, 2020 Ekemini The Federal Ministry of Health (FMOH) says the rate for pre-travel COVID-19 testing for travels within the ECOWAS region will be harmonised. Dr Osagie Ehanire, Nigeria’s Minister of Health, who…
Business Local Naira Appreciates To N394/$ At I&E, Drops To N478/$1 At Black Market December 19, 2020 Ekemini The strengthening of the local currency was boosted by FX liquidity in the market as authorised dealers had enough to meet the rising FX needs of their customers. According to…
Africa Business W. Africa Crude-Traders Await Key Nigerian Plans8, Angolan Allocation December 19, 2020 Ekemini Spot activity was muted in the West African market on Thursday as traders awaited February Angolan term allocations, several key tender results and key Nigerian programmes for February. * Uruguay’s…
Business Local SEC To Partner FSD Africa On Capital Market Master Plan Review December 19, 2020 Ekemini The Securities and Exchange Commission, Nigeria (SEC Nigeria) and Financial Sector Deepening (FSD) Africa have today announced the start of a joint review of Nigeria’s 10-year Capital Markets Master Plan…
Business Local Exchange Rates Pushed Inflation To Double Digits – MAN December 19, 2020 Ekemini The Manufacturers Association of Nigeria (MAN) has raised an alarm that the double inflation digits was occasioned by the upsurge of the exchange rates. Engr. Frank IKE Onyebu, Chairman, MAN,…
Business Local WEEKAHEAD-AFRICA-FX-Nigeria’s Naira Seen Steady, Zambia’s Kwacha May Slip December 19, 2020 Ekemini Nigeria’s naira and other African currencies are likely to trade stable or firm slightly in the week ahead, helped by Diaspora inflows and waning appetite for hard currency as some…
Business Local ‘Crime Is Endemic In Nigeria’ — US Cautions Citizens On Travelling During Holidays December 19, 2020 Ekemini In a holiday security advisory posted on its website, the embassy said it gave the warning given that crime is relatively higher during the festive periods. It said “crime is…
Business Interswitch Partners Credit Bank On Multi-Currency Prepaid Card December 19, 2020 Ekemini Interswitch Group, a digital payment company has collaborated with Kenya’s Credit Bank Plc to launch a multi-currency prepaid card for its African operations, which include Nigeria. The card is aimed…
Business Swiss Central Bank Chief Rejects ‘Currency Manipulator’ Label From The U.S. December 19, 2020 Ekemini LONDON — Swiss National Bank President Thomas Jordan has rejected a U.S. decision to label Switzerland a “currency manipulator.” The U.S. Treasury on Wednesday added Switzerland to a list of…
Business Local Nigeria Reopens Borders After 16-Month Shutdown Raised Prices December 19, 2020 Ekemini Nigerian President Muhammadu Buhari ordered the reopening of the nation’s land borders, ending a 16-month shutdown that raised food prices and curbed regional trade. Buhari ordered the closing of frontiers…
Business Local Digitalisation To Help Nigerian Banks Reduce Cost December 19, 2020 Ekemini McKinsey and Company in a report stated that digitalisation will enable Nigerian banks to achieve between 25 and 40 per cent cost-reduction. The report also urged banks to plan for…
Local Gov Emmanuel Secures Final Approval For Ibom Deep Seaport December 19, 2020 Ekemini Governor Udom Emmanuel of Akwa Ibom State has fulfilled a key part of his campaign promise to ensure the completion of the Ibom Deep Seaport project before the end of…
Business Bank Of England Holds Interest Rates, Bond-Buying Program Steady December 19, 2020 Ekemini The Bank of England unanimously decided to keep interest rates and its bond-buying program unchanged on Thursday as Brexit trade deal negotiations reached the final stretch. The central bank’s monetary…
Local Nigeria’s Apex Bank Bans Mobile Money Operators From Receiving Remittances December 19, 2020 Ekemini
Business Local FG Comes Under Fire As 164 Million Phones Risk Disconnection December 17, 2020 Ekemini Over 164 million phone lines may be disconnected by December 31, if their owners fail to integrate their National Identity Numbers to Subscriber Identification Modules registration records. One of our…
