Local Immigration Denies Caterer Passport Renewal Over #EndSARS Protest December 17, 2020 Ekemini The Federal Government on Wednesday continued its clampdown on #EndSARS protesters by refusing to issue a passport to a caterer who provided food to protesters and helped in sourcing for…
Business Local Diaspora Remittances: CBN Threatens To Sanction Operators Paying Local Currency December 17, 2020 Ekemini The Central Bank of Nigeria has warned operators against paying recipients of diaspora remittances in local currency. It warned that violators could lose their operational licences if they failed to…
Local House Urges Extension Of SIM Card Registration, NIN Linkage Deadline House Urges Extension Of SIM Card Registration, NIN Linkage Deadline December 17, 2020 Ekemini Lagos, Warri, Abuja — The House of Representatives yesterday urged the federal government to extend the deadline for the synchronisation of subscribers’ SIM card registration with their National Identification Number…
Africa Business Report: Africa’s Mobile Broadband Subscriptions Will Double By 2025 December 17, 2020 Ekemini The latest November 2020 edition of the Ericsson Mobility Report has projected increased growth in mobile broadband subscription in Africa, with a projection that sub-Saharan Africa’s mobile broadband subscriptions will…
Business Local Nigeria’s Daily Oil Production Falls To 1.32 Million Barrels December 17, 2020 Ekemini Crude oil production in Nigeria extended its decline to 1.32 million barrels per day in November on the back of the cut deal by the Organisation of the Petroleum Exporting…
Business Surging Investor Interest Sends Bitcoin To Peak Past $23,000 December 17, 2020 Ekemini Bitcoin rose to a record high on Thursday, just a day after passing the $20,000 milestone for the first time, amid surging interest from larger investors. The world’s highest-profile cryptocurrency…
Business Euro And Pound Gain As U.S. Stimulus, Brexit Boost Risk Appetite December 17, 2020 Ekemini The dollar fell to its lowest in more than two years against the British pound and euro on Thursday after the Federal Reserve stuck to its current policy while hopes…
Business Sterling Rises Above $1.36 On Renewed Brexit Trade Deal Hopes December 17, 2020 Ekemini Sterling rallied to above $1.36, holding up to a 2-1/2 year high against a broadly struggling dollar on Thursday as reports of progress in Brexit trade talks boosted appetite for…
Business Local CBN Frowns On Operators Paying Diaspora Remittances In Naira December 17, 2020 Ekemini The Central Bank of Nigeria (CBN) has issued additional guidelines to prevent operators from paying diaspora remittances in local currency. The apex bank had in November 2020 announced an amendment…
Business Local FG Approves Ibom Deep Seaport Project December 17, 2020 Ekemini This was disclosed by Ini Ememobong ,Honourable Commissioner for Information & Strategy in a statement on Wednesday. He said the approval came on the heels of the vigorous push by…
Business Local Naira Falls At I&E, Black Market As Bitcoin Reaches N10m December 17, 2020 Ekemini During the midweek session, the digital currency rose by more than 11.3 per cent to reach N10,467,000.00, extending its gaining streak amid growing interest among big investment companies, who tapped…
Business Canadian Dollar Falls By Most In A Month, Lagging G10 Currencies December 17, 2020 Ekemini The Canadian dollar weakened against its U.S. counterpart on Wednesday as oil prices edged lower and domestic data showed a steady profile for underlying inflation, with the currency pulling back…
Business Local FEC Approves Reopening Of Four Land Borders December 17, 2020 Ekemini Federal Executive Council (FEC) has approved the reopening of four land borders with immediate effect, while others will be reopened subsequently. The Minister of Finance Budget and National Planning Mrs…
Business Local CBN Governor Faces Contempt Charge Over 182b Judgment Debt December 17, 2020 Ekemini A contempt charge has been instituted against the Governor of Central Bank of Nigeria, Godwin Emefiele, over his alleged refusal to order payment of N182 billion to Ogoni people. The…
Business Bitcoin Breaks $20,000 For First Time, Switzerland Named Currency Manipulator December 17, 2020 Ekemini Bitcoin smashed through $20,000 for the first time on Wednesday while the Swiss franc gained after the U.S. Treasury labelled Switzerland a currency manipulator. Bitcoin last jumped 6.9% to move…
Business Euro Rises Above $1.22 For First Time In More Than Two Years December 17, 2020 Ekemini Strong euro zone survey figures and hopes of progress on Brexit negotiations pushed the euro above $1.22 versus the U.S. dollar on Wednesday for the first time since April 2018.…
Business Pound, Euro Rise To Multi-Year Highs On Brexit Hope, Weak Dollar December 17, 2020 Ekemini The pound and euro advanced to their highest levels in over two years as optimism the U.K. and European Union may reach a trade deal coincided with a weakening dollar.…
Business Local Shipping Firms Risk Sanction Over Movement Of Empty Containers December 17, 2020 Ekemini The Nigerian Ports Authority, NPA, has warned shipping firms in Nigeria against not allowing empty containers into their holding bays, saying that such action would attract sanctions henceforth. In a…
Business China Approves Loan For $2.6bn AKK Gas Pipeline December 17, 2020 Ekemini China has approved and will disburse its 85 per cent loan required to fund the $2.6bn Ajaokuta-Kaduna-Kano gas pipeline project, the Federal Government announced on Tuesday. Minister of Finance, Budget…
Banking Business Nigerian Banks Issues Disclaimer Against Azimo Money Transfer December 17, 2020 Ekemini Nigerian Banks have issued disclaimers against Azimo, a money transfer application that claims to facilitate global money transfers. Azimo is a London Based money transfer service founded by Michael Kent…
Business Euro-Area Services Slump Eased Before New German Lockdown December 17, 2020 Ekemini Euro-area services came close to stabilizing in the first half of December — a trend likely to be short-lived after most German stores were ordered to close for the rest…
Business Local Nigerian Cement Price Hike Causes Concern For Building Standards December 17, 2020 Ekemini The Nigerian Institute of Building (NIOB) has said the significant rise in cement prices in the country and the low purchasing power of Nigerians may result in a danger to…
Business Foreign Reserves Fall $731m In 5 Weeks, As Crude Oil Prices Decline By 65% December 17, 2020 Ekemini The country’s foreign reserves fell by $731 million in five weeks, the latest figures obtained from the Central Bank of Nigeria revealed. The decline was tied to the sharp fall…
Business Dollar Capped As U.S. Leaders Meet On Stimulus, Pound Underpinned By Brexit Hopes December 17, 2020 Ekemini The dollar languished near 2-1/2-year lows on Wednesday as progress toward a massive U.S. government spending bill and COVID-19 relief measures whetted risk appetite, sapping demand for the safest assets.…
Business Local Nigeria Records $414.79m Foreign Direct Investment In Q3 – NBS December 17, 2020 Ekemini Nigeria recorded $414.79m Foreign Direct Investment in the third quarter of 2020 out of a total of $1.46bn capital inflow into the country during the period under review. The National…
Business Local FG Expects $26bn Diaspora Remittance To Rise December 17, 2020 Ekemini The Federal Government on Tuesday in Abuja called on Nigerians in the Diaspora to be part of its programmes and policies by investing at home for national development. The government…
Africa Business Africa Trade Deal Could Tap $84bn In Export Potential December 17, 2020 Ekemini A continent-wide free-trade pact could help to realise more than $84 billion in untapped intra-African exports, according to a new report by the African Export-Import Bank. If the export potential…
Business Local Recession, Inflation And Nigerian Households’ Income December 17, 2020 Ekemini Headline inflation which measures the total rise in prices within an economy, including commodities such as food and energy prices is currently at its highest in many months. Businesses are…
Business Local Naira Remains Flat Across Forex Markets As Improved Dollar Supply Continues December 17, 2020 Ekemini Forex turnover rose by 3.4%, as the Naira’s exchange rate at the NAFEX window maintained stability against the dollar to close at N394/$1 during intra-day trading on Tuesday, December 15.…
Business Local Nigeria’s External Reserve Sinks To 8-Month Low December 17, 2020 Ekemini This is the lowest level since April when it touched $33.4 billion in the wake of the COVID-19 pandemic and falling oil prices. Data from the CBN shows that in…
