Pfizer, BioNTech Apply For Coronavirus Vaccine Approval In Europe
U.S. pharmaceutical giant Pfizer and its German partner BioNTech said they have applied to the European Medicines Agency for the…
Year: 2020
Don’t Reverse Ban On Rice Importation, Ortom Begs Buhari
Governor Samuel Ortom of Benue State, on Monday, appealed to the President, Major General Muhammadu Buhari (retd.), to sustain the…
FG Warns Against Christmas Carol, Tells Nigerians Abroad To Stay Away
The Presidential Task Force on COVID-19 has urged Nigerians to be weary of festivities such as Christmas carols as the…
Frantic CBN Allows Diaspora Remittances To Be Withdrawn In Dollars And Sold Anywhere Including Black Market
To save the naira, CBN now allows diaspora remittances to be withdrawn dollar cash. The Central Bank of Nigeria (CBN)…
CBN Removes Restriction On FX Receipt Through Domiciliary Accounts
Beneficiaries of Diaspora remittances through International Money Transfer Operators (IMTOs) shall henceforth receive such inflows in the foreign currency (US…
U.S. Dollar Drops To Lowest In More Than Two Years
The dollar hit its lowest in two and a half years on Monday as broad risk sentiment improved overall, with…
Sterling Heads Higher On Hopes Of A Brexit Trade Deal
secure a deal to govern nearly $1 trillion in annual trade from Jan. 1 but are yet to bridge differences…
Govt, CBN Point To Results In Economy Recovery Plan
At the backdrop of the slide into the second recession in five years, fiscal and monetary authorities are indicating that…
Interventions Drive Daily I&E Window Sales To $150m
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said interventions introduced by the CBN have resulted in…
Dollar Plumbs Two-Year Low As Fed Comes In To Focus
The dollar touched a more than two-year low on Monday and is set to log its largest monthly fall since…
Electricity Grid Collapses In Nigeria, Africa’s Largest Economy
Nigeria’s national electricity grid collapsed on Sunday, the Transmission Company of Nigeria (TCN) said in a statement. Power outages in…
Nigeria’s Defense Of A Spiraling Naira And Its Multiple Exchange Rates Isn’t Working
At any point in the last few years, Nigeria’s naira has always had multiple exchange rates. As of Friday (Nov.…
Naira Hits Four-Year Low As Nigeria Central Bank Adjusts Rate
Nigeria’s central bank weakened the naira for the third time this year as the regulator struggles to stem demand for…
Expanding Financial Services Access With Cryptocurrencies
The Cryptocurrency space is fast expanding, with more people, including those at the grassroots embracing the digital investment plan. Even…
Nigerian Naira Weakens In NDF Markets After Spot And Futures Market Ease
Nigeria’s naira slipped across the curve against the dollar in non-deliverable forward markets on Monday, with the six-month contracts falling…
Oil Can No Longer Sustain Nigeria Economy, Kogi Agric Commissioner Warns
The Kogi State Commissioner For Agriculture, Mr David Apeh, has warned that the continuous dependence on crude oil by the…
Nigeria Spends Over N370b On Palm Oil Importation
Despite the restriction placed by the Federal Government on palm oil importation, the inflow of the edible product has soared…
Rewane Speaks At FMDA Webinar, Predicts 16% Inflation Rate By 2021
The Managing Director, Financial Derivatives Company Limited, Bismarck Rewane has predicted 16 per cent inflation figure by 2021. The economist…
Investors Split On Duty Cut For Imported Vehicles
The proposed policy in the 2020 Finance Bill that seeks to slash duties and levies on imported vehicles has raised…
Why Eight States Landed In Financial Distress —Report
FOR their inability to generate enough revenue to pay workers, other debts, and prioritizing recurrent over capital expenditures, eight states…
Biden To Name Adewale Adeyemo Deputy Treasury Secretary
United States (US) President-Elect, Joe Biden, is about to announce Nigerian-born attorney and economist, Adewale ‘Wally’ Adeyemo, as deputy Treasury…
Nigeria’s, Others’ Mobile Money Transaction Value Hits $130b
The value of mobile money transaction in Nigeria and other West African countries peaked at $130billion last year with a…
CBN Reiterates Commitment To Tackling Cyber-Fraud
In a bid to tackle the increasing threats of cyber-attacks in the financial sector, the Central Bank of Nigeria (CBN)…
OPEC+ Fails To Agree On Output-Hike Delay Before Big Meeting
A panel of OPEC+ ministers couldn’t reach an agreement on whether to delay January’s oil-output increase, leaving the matter unresolved…
BDCs Now To Sell Dollars At N392$1
The Central Bank of Nigeria (CBN) has adjusted the exchange rate Bureau De Change (BDC) operators are to sell the…
Nigeria’s Half-Year Export Earnings Slump 37 Percent On Declining Oil Price
The decline in earnings was worsened by the impact of COVID-19 which dampened the global demand, plummeting crude oil prices…
Oil Prices Slip In Cautious Trade Ahead Of OPEC+ Meet
Crude oil prices fell on Monday, amid investor jitters ahead of a meeting of producer group OPEC+ to decide whether…
Naira Crashes To N500/$1 At Black Market As CBN Adjusts Exchange Rates
The Naira crashed again to an over 3-year low against the dollar, closing at N500/$1 at the parallel market. Forex…
Fear Of Further Devaluation Rife As Naira’s Slide Continues
The naira hit record lows at the weekend as market forces continued to force downward shift in Central Bank of…
IMF Seeks Unified Exchange Rate For Naira
THE International Monetary Fund (IMF) has urged the Central Bank of Nigeria (CBN) to get the country a unified exchange…