Naira Gains N8 As Equities Make N778bn
THE naira appreciated by N8 in the last one week at the parallel market and the equities market recorded major…
Year: 2020
Oil Prices Fall As Supply Concerns Ease
Oil prices fell on Monday as force majeure at Libya’s largest oilfield was lifted, a Norwegian strike affecting production ended…
FEC Approves $3.02bn Port Harcourt/Maiduguri Railway Project
Oil prices fell on Monday as force majeure at Libya’s largest oilfield was lifted, a Norwegian strike affecting production ended…
FG Extends Suspension Of New Electricity Tariff By One Week
The federal government and the organised labour last night resolved to extend the suspension of the new electricity tariffs by…
Apapa Gridlock: Maritime Workers Issue 21-Day Ultimatum, Threaten Strike
The Maritime Workers Union of Nigeria has identified four shipping companies responsible for the gridlock caused by heavy duty trucks…
Retirement Age Increase Worsens Youth Unemployment –ABCON
The Association of Bureaux De Change Operators of Nigeria has cautioned the government against increasing the retirement age. ABCON stated that…
Currency Slump Inducing Cryptocurrency Transaction In Africa
At a time like this when the global pandemic has put more countries than ever imagined in a state of…
Exporters Call For Payment Of N200bn Outstanding EEG Debt
The Manufacturers Association of Nigeria Export Promotion Group (MANEG) has called on the Federal Government to pay the outstanding Export…
FACAN Rallies To Unban Nigeria From EU
THE President, Federation of Agricultural Commodity Associations of Nigeria (FACAN), Dr Victor Iyama, has urged for efforts to get Nigeria…
Sterling Holds Above $1.30 Ahead Of New Lockdown Measures
Sterling edged lower against the dollar on Monday with British Prime Minister Boris Johnson expected to announce new restrictions as…
Dollar Sticks Near Three-Week Lows As Markets Bet On Eventual U.S. Stimulus
The dollar held near three-week lows on Monday amid optimism about fiscal stimulus in the United States, while the yuan…
Yuan’s Gains May Be Capped After PBOC Cuts Shorting Costs
The yuan came under pressure in early Monday trade, dragging regional counterparts lower with it, after authorities made it easier…
CBN To Enforce Banks’ Compliance With SWIFT Code
The Central Bank of Nigeria has ordered banks to comply with the SWIFT universal payment confirmation. It stated this in…
Canadian Experts Push For Cultivation Of Non-Intoxicating Cannabis In Nigeria
Experts from Canada have started pushing for the cultivation and development of non-intoxicating Cannabis, Cannaidiol (CBD oil) and industrial hemp…
Stakeholders Say Multiple Exchange Rates Benefitting Few
Stakeholders in the financial sector have decried the multiple exchange rates in the country, saying it is fueling unwholesome practices…
Onne Customs Rakes In N13.1bn, Highest In 37 Years
The Nigeria Customs Service (NSC), Area ll Command, Onne Port, Rivers State has announced that it generated a total of…
Challenges Of Foreign Private Investment In Nigeria
NIGERIA has witnessed a steady decline in Foreign Direct Investment in recent time. According to data from the National Bureau…
Nigeria Imports Paper Worth N3tn Annually
The President/Chairman in Council, Chartered Institute of Professional Printers of Nigeria, Olugbemi Malomo, in this interview with NIKE POPOOLA, speaks…
AfCFTA Take-Off: Nigeria Remains Most Sought-After Bride
Ahead of the planned takeoff of the much hyped African Continental Free Trade Agreement (AfCFTA) in January 2021, for the…
Yuan’s Haven Status Won’t Stick Until China Relaxes Its Controls
When the world’s financial markets hit turbulence, could you really turn to China’s yuan as a store of value? The…
Nigeria At 60: Whither The Capital Market?
Not unmindful of the floatation of a development stock by the Colonial government in 1946, the doors of a formal…
SARS Ban: Nigeria Abolishes Loathed Federal Special Police Unit
Nigeria has dissolved the special police force at the centre of protests against police brutality. The government said a special…
EM Investors Start To Put Vote Jitters Behind Them
Emerging-market investors are beginning to factor in a victory for Joe Biden in next month’s election, a likely boon for…
PwC Predicts 30% Unemployment Rate By Year-End
PricewaterhouseCoopers says Nigeria’s unemployment rate can rise to 30 per cent by the last quarter of the year amid slow…
Norway Oil Strike Ends After Wage Agreement
An Equinor employee talks to a reporter on a rig used to produce oil from the Johan Sverdrup oil field…
UK Chancellor Announces ‘Local Furlough’ Scheme And Business Grants
Chancellor Rishi Sunak has announced new support for businesses and employees hit by local lockdowns. The chancellor on Friday said…
Banking Sector Credit Rises To N18.90tn Nationwide
The total banking industry credit to customers in the 36 states of the federation and Federal Capital Territory (FCT) rose…
CBN’s $450m Inflow To BDCs Stabilise Naira
The Central Bank of Nigeria (CBN) has injected over $450 million into the Bureau De Change (BDC) segment of the…
Nigeria Not Looking To Issue Eurobonds, Vice President Says
Nigeria will avoid issuing Eurobonds due to their expense, Vice President Yemi Osinbajo said, and will look at alternative ways…
Police Fire Teargas At Nigerians Protesting At Alleged Brutality, Witnesses Say
Nigerian police used teargas on Friday to disperse dozens of people in the capital Abuja who had gathered to protest…