Immigration Denies Caterer Passport Renewal Over #EndSARS Protest
The Federal Government on Wednesday continued its clampdown on #EndSARS protesters by refusing to issue a passport to a caterer…
Month: December 2020
Diaspora Remittances: CBN Threatens To Sanction Operators Paying Local Currency
The Central Bank of Nigeria has warned operators against paying recipients of diaspora remittances in local currency. It warned that…
House Urges Extension Of SIM Card Registration, NIN Linkage Deadline House Urges Extension Of SIM Card Registration, NIN Linkage Deadline
Lagos, Warri, Abuja — The House of Representatives yesterday urged the federal government to extend the deadline for the synchronisation…
Report: Africa’s Mobile Broadband Subscriptions Will Double By 2025
The latest November 2020 edition of the Ericsson Mobility Report has projected increased growth in mobile broadband subscription in Africa,…
Nigeria’s Daily Oil Production Falls To 1.32 Million Barrels
Crude oil production in Nigeria extended its decline to 1.32 million barrels per day in November on the back of…
Surging Investor Interest Sends Bitcoin To Peak Past $23,000
Bitcoin rose to a record high on Thursday, just a day after passing the $20,000 milestone for the first time,…
Euro And Pound Gain As U.S. Stimulus, Brexit Boost Risk Appetite
The dollar fell to its lowest in more than two years against the British pound and euro on Thursday after…
Sterling Rises Above $1.36 On Renewed Brexit Trade Deal Hopes
Sterling rallied to above $1.36, holding up to a 2-1/2 year high against a broadly struggling dollar on Thursday as…
CBN Frowns On Operators Paying Diaspora Remittances In Naira
The Central Bank of Nigeria (CBN) has issued additional guidelines to prevent operators from paying diaspora remittances in local currency.…
FG Approves Ibom Deep Seaport Project
This was disclosed by Ini Ememobong ,Honourable Commissioner for Information & Strategy in a statement on Wednesday. He said the…
Naira Falls At I&E, Black Market As Bitcoin Reaches N10m
During the midweek session, the digital currency rose by more than 11.3 per cent to reach N10,467,000.00, extending its gaining…
Canadian Dollar Falls By Most In A Month, Lagging G10 Currencies
The Canadian dollar weakened against its U.S. counterpart on Wednesday as oil prices edged lower and domestic data showed a…
FEC Approves Reopening Of Four Land Borders
Federal Executive Council (FEC) has approved the reopening of four land borders with immediate effect, while others will be reopened…
CBN Governor Faces Contempt Charge Over 182b Judgment Debt
A contempt charge has been instituted against the Governor of Central Bank of Nigeria, Godwin Emefiele, over his alleged refusal…
Bitcoin Breaks $20,000 For First Time, Switzerland Named Currency Manipulator
Bitcoin smashed through $20,000 for the first time on Wednesday while the Swiss franc gained after the U.S. Treasury labelled…
Euro Rises Above $1.22 For First Time In More Than Two Years
Strong euro zone survey figures and hopes of progress on Brexit negotiations pushed the euro above $1.22 versus the U.S.…
Pound, Euro Rise To Multi-Year Highs On Brexit Hope, Weak Dollar
The pound and euro advanced to their highest levels in over two years as optimism the U.K. and European Union…
Shipping Firms Risk Sanction Over Movement Of Empty Containers
The Nigerian Ports Authority, NPA, has warned shipping firms in Nigeria against not allowing empty containers into their holding bays,…
China Approves Loan For $2.6bn AKK Gas Pipeline
China has approved and will disburse its 85 per cent loan required to fund the $2.6bn Ajaokuta-Kaduna-Kano gas pipeline project,…
Nigerian Banks Issues Disclaimer Against Azimo Money Transfer
Nigerian Banks have issued disclaimers against Azimo, a money transfer application that claims to facilitate global money transfers. Azimo is…
Euro-Area Services Slump Eased Before New German Lockdown
Euro-area services came close to stabilizing in the first half of December — a trend likely to be short-lived after…
Nigerian Cement Price Hike Causes Concern For Building Standards
The Nigerian Institute of Building (NIOB) has said the significant rise in cement prices in the country and the low…
Foreign Reserves Fall $731m In 5 Weeks, As Crude Oil Prices Decline By 65%
The country’s foreign reserves fell by $731 million in five weeks, the latest figures obtained from the Central Bank of…
Dollar Capped As U.S. Leaders Meet On Stimulus, Pound Underpinned By Brexit Hopes
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…
Nigeria Records $414.79m Foreign Direct Investment In Q3 – NBS
Nigeria recorded $414.79m Foreign Direct Investment in the third quarter of 2020 out of a total of $1.46bn capital inflow…
FG Expects $26bn Diaspora Remittance To Rise
The Federal Government on Tuesday in Abuja called on Nigerians in the Diaspora to be part of its programmes and…
Africa Trade Deal Could Tap $84bn In Export Potential
A continent-wide free-trade pact could help to realise more than $84 billion in untapped intra-African exports, according to a new…
Recession, Inflation And Nigerian Households’ Income
Headline inflation which measures the total rise in prices within an economy, including commodities such as food and energy prices…
Naira Remains Flat Across Forex Markets As Improved Dollar Supply Continues
Forex turnover rose by 3.4%, as the Naira’s exchange rate at the NAFEX window maintained stability against the dollar to…
Nigeria’s External Reserve Sinks To 8-Month Low
This is the lowest level since April when it touched $33.4 billion in the wake of the COVID-19 pandemic and…