Nigeria Gives Telecoms Providers Two Weeks To Add ID Numbers To SIM Cards
Nigeria has given telecommunication providers two weeks to add valid National Identification Numbers (NIN) to every SIM card registered in…
Month: December 2020
Naira Maintains Stability At Various FX Market Windows
The Naira extended its stability against the United States Dollar into a second day at the various windows of the…
China Offers $145 Billion To Banks As Cash Supply Tightens
China injected cash into the financial system by offering medium-term loans, in the government’s latest effort to ensure the country’s…
AfCFTA: Nigeria To Become Petroleum Products Refining Hub, Says Sylva
The Federal Government says it will leverage the opportunities provided by the African Continental Free Trade Area Agreement (AfCFTA) to…
Nigeria’s Economy Likely To Contract By Over 4% In 2020 -World Bank
Nigeria’s economy is likely to contract by more than 4% this year, plunging the country into its deepest recession since…
Nigeria Inflation At Highest In Almost Three Years On Food Costs
Nigerian inflation quickened to an almost three-year high in November as dollar shortages, insecurity in farming areas and supply bottlenecks…
World Bank Approves $3bn For Nigeria
After threatening to withhold $1.5 billion until Nigeria carries out foreign exchange reforms to its satisfaction, the world Bank has…
Nigerian Annual Inflation Nears Three-Year High In November
Annual inflation in Nigeria rose in November for the 15th straight month, to almost a three-year high, the National Bureau…
PwC: Nigeria’s Economy Will Perform Better Than IMF, World Bank Projections
This is contained in the December 2020 Nigeria Economic Alert released by the firm on Monday. It projected that the…
Don’t Open Borders, NASME Tells FG
The National Association of Small and Medium Enterprise has advised the President, Major General Mohamadu Buhari (retd.), not to succumb…
Court Declares Stamp Duty On Bank Transactions Illegal
A FEDERAL High Court sitting in Asaba Delta State has ruled that it is illegal for banks to charge depositors…
The Australian Dollar Is Surging On Record Iron Ore Prices As Tensions With China Climb
SINGAPORE — The Australian dollar has leaped to its highest in more than two years, helped by surging iron ore…
External Reserves Dip By $269.47m In Five Weeks
The country’s foreign reserves fell by $269.47m in five weeks, the latest figures obtained from the Central Bank of Nigeria…
Dollar Heavy Amid Stimulus Progress, Pound Buoyed By Brexit Hopes
The dollar traded near 2 1/2-year lows against major peers on Tuesday as demand for the safest assets flagged amid…
Lagos Lists 300 Distressed Buildings For Demolition
The General Manager, Lagos State Building Control Agency, Mrs Abiola Kosegbe, said it has listed about 300 buildings that it…
Equities Market Opens Week Bullish, Investors Gain N309.8bn
Equities trading on the Nigerian Stock Exchange (NSE) begins the week on a positive note as the market indicators advance…
Rapid China Inflows Spur Call For Strongest Yuan Since 1993
The yield on China’s 10-year government bonds climbed in recent months on speculation the PBOC will start to exit monetary…
FG Suspends Issuance Of FTZs Licences
The Federal Government has suspended issuance of licences for the operations of Free Trade Zones (FTZs) in the country. The…
Banks’ Non-Performing Loans Now N1.17tn – NBS
Non-performing loans in the Nigerian banking sector fell by N42.4bn in three months, latest figures from the National Bureau of…
Oil Rises From The Ashes As The Big Coronavirus Recovery Trade
Brent crude topped $50 a barrel last week for the first time since March, a milestone for an oil market…
OPEC+ Countries To Hold Jan. 4 Talks, Algeria Says
Algerian Energy Minister Abdelmadjid Attar said on Sunday that OPEC+ countries will meet on Jan. 4 to study the market…
Deregulation: Nigerians Overpaying For Petrol – Expert
At a pump price of N167 per litre, Nigerians are currently overpaying for fuel, an industry expert, Alhaji Rabiu Bello…
As FG Woos Global Investors At GITEX 2020
This year’s Gulf Information Technology Exhibition (GITEX) event and conference, which held at the World Trade Centre in Dubai, UAE,…
CBN Commits N200bn On 300,000 Social Housing Scheme
THE Central Bank of Nigeria, CBN, has committed N200 billion to kickstart the social housing projects, under the Economic Sustainability…
Lagos To Establish A Multi Million Naira Fish Centre
Lagos is set to launch a multi-million Aquaculture Centre of Excellence (L.A.C.E) to provide a major boost to the fast-growing…
Nigeria’s Q3 Oil Exports Rise By 56% To N2.42tn
Nigeria more than doubled its crude oil exports in the third quarter of this year to N2.42tn after months of…
Banks Have Benefited From COVID-19 Fiscal, Monetary Policies – Okonkwo
Nnamdi Okonkwo, who retires as the Managing Director/Chief Executive Officer of Fidelity Bank, on December 31, spoke to business editors…
Pound Sterling Set For An Explosive Monday Session Vs. Euro And Dollar
Pound Sterling is in for a potentially explosive session on Monday owing to a Sunday deadline for EU-UK Brexit talks.…
Nigeria’s Buhari Disputes Lawmakers’ Power To Summon Him
A last minute change of heart by Nigerian President Muhammadu Buhari on answering an invitation by lawmakers triggered a constitutional…
Nigerian Military In Firefight With Gang Who Kidnapped Students
The Nigerian military had located and exchanged fire with gunmen who kidnapped scores of secondary school students in northwestern Katsina…