U.S. Dollar On The Verge Of Becoming A Problem Currency Again
The Dollar buckled again Thursday after wading knee-deep into losses against all majors in moves that risk making it a…
Month: December 2020
Concerns Over Rising Pirate Attacks At Gulf Of Guinea
There are concerns that the surge in cases of pirate attacks and kidnapping of crews on the Gulf of Guinea…
Bitcoin Adoption In Nigeria Soars As Central Bank Blocks Remittances In Naira
The Central Bank of Nigeria’s “Naira defense” policy is pushing more Nigerians towards Bitcoin and crypto adoption. Peer-to-peer (P2P) Bitcoin…
Oil Dips, Heads For Weekly Gain As Vaccine Rollouts Support
Oil dipped towards $51 a barrel on Friday though still headed for a seventh weekly gain in a row as…
NIS Confirms Upsurge In Emigration
The Nigeria Immigration Service (NIS) has confirmed the increase in the number of Nigerians struggling to travel overseas due to…
Foreign Investment Pours Into China Despite Trade War, Pandemic
For all the talk of an economic decoupling between China and the U.S. and its allies, foreign companies continue to…
Africans In Diaspora Seek To Be Included In The Continent’s Development Agenda
This was discussed at a meeting that took place in Nairobi this week attended by 150 Africans drawn from different…
Oil, Power Firms Owe Nigerian Banks N5.83tn – NBS
The debts owed by energy firms to Nigerian banks rose by N200bn to N5.85tn in the third quarter of this…
Wall Street’s Call For Yen At 100 Is Catching On At Japan Banks
– Wall Street and Japan’s largest banks are starting to see eye to eye on the yen’s outlook, saying its…
Naira Falls At Black Market As MMOs, PSPs Are Barred From Receiving Diaspora Remittances
Forex turnover rose by 9.6%, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close…
OPEC To Increase Production
WHILE the most recent Petroleum Status Report tilted firmly into positive territory, the crude market has taken a cautious stance…
‘E-Customs Platform To Commence Next Week’
The Nigeria Customs Service has disclosed plans to roll out an electronic-Customs platform with capacity to promote future increase in…
House To Investigate Viability Of Scanners At Seaports, Border Stations
The House of Representatives has directed its Committee on Customs and Excise (CCE) to investigate the total collapse of the…
Investors Take Some Money Off Table After Week Of Dollar Selling
The dollar took a breather on Friday after enduring a week-long beating that has pushed it below major support levels…
Nigeria’s Apex Bank Bans Mobile Money Operators From Receiving Remittances
The Central Bank of Nigeria (CBN) has suspended Mobile Money Operators, Payment Switch providers from receiving remittances or integrating their…
Pre-Travel COVID-19 Testing Rate For Travels Within ECOWAS To Be Harmonised— Health Minister
The Federal Ministry of Health (FMOH) says the rate for pre-travel COVID-19 testing for travels within the ECOWAS region will…
Naira Appreciates To N394/$ At I&E, Drops To N478/$1 At Black Market
The strengthening of the local currency was boosted by FX liquidity in the market as authorised dealers had enough to…
W. Africa Crude-Traders Await Key Nigerian Plans8, Angolan Allocation
Spot activity was muted in the West African market on Thursday as traders awaited February Angolan term allocations, several key…
SEC To Partner FSD Africa On Capital Market Master Plan Review
The Securities and Exchange Commission, Nigeria (SEC Nigeria) and Financial Sector Deepening (FSD) Africa have today announced the start of…
Exchange Rates Pushed Inflation To Double Digits – MAN
The Manufacturers Association of Nigeria (MAN) has raised an alarm that the double inflation digits was occasioned by the upsurge…
WEEKAHEAD-AFRICA-FX-Nigeria’s Naira Seen Steady, Zambia’s Kwacha May Slip
Nigeria’s naira and other African currencies are likely to trade stable or firm slightly in the week ahead, helped by…
‘Crime Is Endemic In Nigeria’ — US Cautions Citizens On Travelling During Holidays
In a holiday security advisory posted on its website, the embassy said it gave the warning given that crime is…
Interswitch Partners Credit Bank On Multi-Currency Prepaid Card
Interswitch Group, a digital payment company has collaborated with Kenya’s Credit Bank Plc to launch a multi-currency prepaid card for…
Swiss Central Bank Chief Rejects ‘Currency Manipulator’ Label From The U.S.
LONDON — Swiss National Bank President Thomas Jordan has rejected a U.S. decision to label Switzerland a “currency manipulator.” The…
Nigeria Reopens Borders After 16-Month Shutdown Raised Prices
Nigerian President Muhammadu Buhari ordered the reopening of the nation’s land borders, ending a 16-month shutdown that raised food prices…
Digitalisation To Help Nigerian Banks Reduce Cost
McKinsey and Company in a report stated that digitalisation will enable Nigerian banks to achieve between 25 and 40 per…
Gov Emmanuel Secures Final Approval For Ibom Deep Seaport
Governor Udom Emmanuel of Akwa Ibom State has fulfilled a key part of his campaign promise to ensure the completion…
Bank Of England Holds Interest Rates, Bond-Buying Program Steady
The Bank of England unanimously decided to keep interest rates and its bond-buying program unchanged on Thursday as Brexit trade…
FG Comes Under Fire As 164 Million Phones Risk Disconnection
Over 164 million phone lines may be disconnected by December 31, if their owners fail to integrate their National Identity…