WorldRemit Launches A New Price Drop On Transfers To Nigeria This Black Friday
WorldRemit, a leading global digital payments company, has announced the launch of its new zero percent pricing for international transfers…
Year: 2020
Nigeria In Final Stages Of Talks For Loan From World Bank
Nigeria has fulfilled the conditions for a World Bank loan and is in the final stages of closing the deal,…
Nigeria Ranks 3rd Most Terrorised Country
The Global Terrorism Index (GTI) has shown that Nigeria witnessed an increase in Boko Haram terrorists’ attacks on military targets,…
Nigeria’s Banks Grapple With Covid-19 And Oil Price Slump
Nigeria has sunk into its second recession in less than five years as the Covid-19 pandemic and oil price crash…
Report: Companies Diverting Export Proceeds
A report by AZA Finance, an Africa-focused provider of currency trading solutions has attributed the pressure facing the naira on…
Nigeria Asks OPEC To Review Repercussions Of Output Strategy.
On the peculiar challenges facing the country amid its large population and immense deficit in infrastructure, the president [Muhammadu Buhari]…
Canadian Dollar Steadies As Oil Gives Back Some Recent Gains
The Canadian dollar was little changed against its U.S. counterpart on Thursday as the recent rally in oil lost some…
Crisis Looms As Rail Contractor Demolishes Port Exit Gate
Operations at the Apapa container terminal, operated by APM Terminals, were paralysed on Wednesday as the contractor handling the rail…
Kyari: It No Longer Makes Sense To Operate The Refineries
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, said the corporation deliberately shut down the…
Nigeria, Ghana, Others Move To Address Population Growth
Nigeria, Ghana and other West African countries on Thursday held a conference in Abuja to address human development issues on…
China’s Central Bank Could Intervene After ‘Glaring’ State-Firm Bond Defaults, Analyst Says
SINGAPORE — The People’s Bank of China (PBOC) could step in following a number of recent bond defaults by Chinese…
Dollar Poised For Weekly Losses On Improving Risk Sentiment
The dollar held steady in thin trade on Friday but was on track for weekly losses against a basket of…
Protect Nigerian Businesses In Your Country, Lawan Tells South Africa
Senate President Ahmad Lawan on Thursday urged the South African authorities to reciprocate the Nigerian Government’s gesture by ensuring that…
Crisis Hits Apapa Port As CCECC Demolishes Structures, Cripple Seaport Operations
Operations at the Apapa container terminal, operated by APM Terminals, were paralysed on Wednesday as the contractor handling the rail…
FG Approves N30bn For Roads To Niger Republic
ABUJA—THE Federal Executive Council, FEC on Wednesday approved contracts for construction of two roads from Sokoto and Jigawa States up…
General Gowon Denies Looting ‘Half Of CBN’
Nigeria’s former Head of State, General Yakubu Gowon, has denied ‘looting half of Central Bank of Nigeria (CBN),’ saying he…
We Deliberately Shut Down Refineries – NNPC GMD
The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, on Thursday said the country’s refineries were shut…
Nigeria: Smugglers Reign Large Despite Border Closure
As the Yuletide season approaches, more smuggled items — mainly foreign parboiled rice, tomato paste, frozen chicken and cars —…
Oil Falls To $47 As Fate Of OPEC+ Deal Uncertain
The international oil benchmark, Brent crude, pared some of its recent gains on Thursday as what seemed to be shaping…
Naira In Big Trouble, Falls To N495/$1 At Black Market
The attempt by the Central Bank of Nigeria (CBN) to discourage Nigerians from seeking forex at the parallel market seems…
Nigeria: BPE Hands over Afam Power Plant to Transcorp
The Bureau of Public Enterprises (BPE) has handed over the Afam Power Plant in Oyigbo Local Government of Rivers State…
Netherlands Returns Smuggled 600-Year-Old Ife Terracotta To Nigeria
The Kingdom of Netherlands on Thursday officially presented a smuggled Ife Terracotta antiquity dated to be at least 600 years…
World’s Outlier On Remittances Has Currency Woes To Blame
Nigerians living abroad could be sending more money home than authorities realize, bypassing official channels so their families can get…
Nigeria’s Traditional Textiles Threatened By Chinese Imports
JOS, NIGERIA – Nigeria has been producing traditional, handmade, beautiful fabric designs for centuries. But preservers of the ancient art…
AFRICA-FX-Kenyan, Zambian, Nigerian Currencies Seen Under Pressure
The currencies of Kenya, Zambia and Nigeria are expected to come under pressure versus the U.S. dollar next week, according…
Bob Diamond’s African Bank Exits Two Markets As It Enters Debt Talks
Atlas Mara Ltd., the African banking group started by former Barclays Plc Chief Executive Officer Bob Diamond, agreed to sell…
Nigeria To Strengthen Infrastructure Company To Boost Recovery
Nigerian state-owned Infrastructure Credit Guarantee Company plans to raise additional capital to fund critical projects in Africa’s biggest economy. The…
Nigerian Central Bank Rule Leaves Cocoa Stranded At Ports
Nigerian cocoa exporters are facing long delays in shipping their goods after the central bank started insisting on additional documentation…
Naira May Head To N500 Against Dollar On Black Market Next Week
The foreign exchange market has been under pressure since March 2020 following a sharp drop in oil prices as a…
Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin To Circumvent Country’s Overvalued Exchange Rate
A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin…