Nigeria Refines Own Gold, Starts Stockpiling In Reserve
Nigeria has for the first time refined its own gold and purchased the refined product into a new gold reserve.…
Year: 2020
Nigeria Loses $3b To Illegal Gold Smuggling In 6 Years
President Muhammadu Buhari has voiced concern that Nigeria lost close to $3b from 2012 – 2018 due to illegal smuggling…
Oil Falls As OPEC+ Plans To Raise Output While Virus Cases Increase
Oil prices fell 1% on Thursday after OPEC+ agreed to ease record supply curbs and as new infections of the…
CBN Seeks Power To Freeze Bank Accounts ‘Linked To Criminals’
The Central Bank of Nigeria is seeking sweeping powers to freeze bank accounts “linked to criminals in the country via…
Weekahead-African-FX-Kenyan, Nigeria Currencies Seen Weaker, Uganda’s Firmer
Kenyan and Nigerian currencies are likely to come under pressure against the U.S. dollar next week as Uganda’s shilling strengthens…
Dollar Dips After Rise In U.S. Retail Sales
The safe-haven U.S. dollar fell modestly in morning trading on Thursday after domestic retail sales data for June came in…
CBN Seeks Exclusive Right To Bank Licensing, Revocation
The Central Bank of Nigeria (CBN) has said, in line with international best practices and to avoid duplication of functions,…
E-Payments Value Drops By N96b
The Central Bank of Nigeria (CBN) has said the total volume of payments across payment channels fell by 26 per…
Nigerian Inflation Rises For 10 Months In A Row In June
Annual inflation in Nigeria rose for a 10th straight month in June, lifted by higher food and healthcare costs, the…
Euro In ‘Wait And See’ Mode Ahead Of Crucial EU Summit
The euro was flat against the dollar on Friday before a European Union summit that will try to reach agreement…
Dollar Climbs As Traders Focus On Weak Chinese Retail Sales
The U.S. dollar strengthened on Thursday as investors focused on poor Chinese retail sales instead of its stronger than expected…
Net Foreign Inflow Hit $9.35bn In February
The nation’s economy recorded a net foreign exchange inflow of $9.35bn in February. The Central Bank of Nigeria disclosed this…
Local Airlines Risk Collapse As Load Factor Declines
Operators push for bailout, open flights • 14-day quarantine threatens Nigeria’s aviation, 35 others Exactly a week after commercial airlines…
Canada Will Have To Rely On Immigration As Global Fertility Rate Plummets
Participants celebrate becoming Canadian citizens after swearing the oath of citizenship during a virtual citizenship ceremony held over livestream due…
Sterling Above $1.26 As Dollar Falls, Steady Vs Euro
Sterling was dragged up by a weaker dollar and an improvement in risk sentiment on Wednesday but traded flat against…
Pound Slips Below $1.26 As Risk Appetite Wanes
The British pound slipped on Thursday as risk aversion swept through markets, boosting the safe-haven appeal of the U.S. dollar…
In Nigeria, African Researchers Blaze A Trail In Virus Fight
At the time, Africa was almost literally the country cousin in terms of its status in world research, and Happi…
UK’s New Migration Visa Lures Nigerian Doctors
More Nigerian medical practitioners may leave the country as the United Kingdom yesterday announced new ‘Health and Care Visa’ policy…
OPEC Insists On Total Compliance With Oil Production Cuts
The Organisation of Petroleum Exporting Countries (OPEC) and its allied oil producers, known as OPEC+, yesterday insisted that defaulting countries,…
MTN Launches E-Sim To Boost Quality Services
MTN Nigeria Plc on Wednesday unveiled the trial of e-SIM services on its network to improve customer experience and maintain…
Seven Countries With Big And Small Population Problems
A major new study published in the Lancet medical journal suggests falling fertility rates mean nearly every country could have…
UK Frustrated Air Peace Attempt To Evacuate Nigerians
He said it was a demand for a Third Country Operator approval that forced the airline to engage the services…
Naira Plunges To Record Low Of N470 Against US Dollar On Black Market
The Nigerian Naira plunged further against the United States dollar on the black market on Tuesday as forex scarcity persists.…
U.S. Reverses Student Visa Curbs After Harvard, MIT Fight
Deal ends standoff that could have sent thousands back home Schools can now resume planning for the fall semester The…
Oil Theft, Illegal Refining: Nigeria’s Economy Bleeds As Illegal Activities Boom In Niger Delta
There are indications that oil theft and illegal refining have attain new heights in Nigeria as Shell Petroleum Development Company…
Oil Gains After Big U.S. Drawdown; Eyes On OPEC Committee Meeting
Oil prices rose on Wednesday following a sharp drop in U.S. crude inventories, with the market waiting for next steps…
Nigeria: COVID-19 Cut Off 40% Of Our Revenue
The Federal Government’s revenue fell by 40 per cent due to the impact of COVID-19 pandemic, the Vice President, Prof.…
Stock Market’s Outlook Will Be Determined By H1 Results’
As investors await the first half reports of quoted companies, market pundits have said the outlook for the capital market…
Euro Hits Four-Month High Vs Dollar On Stimulus, Recovery Hopes
The euro rose to a four-month high against the dollar on Wednesday on hopes European Union leaders may agree on…
Riskier Currencies Gain On Vaccine Hopes; Dollar Hits One-Month Low
Risk sentiment was upbeat in currency markets on Wednesday, as signs of progress towards a COVID-19 vaccine and a Wall…