World Bank Sees Sub-Saharan Africa’s GDP Rebounding In 2021
Sub-Saharan Africa will probably reverse an economic contraction next year as countries in the region begin to ease movement restrictions,…
Year: 2020
CBN Disburses $13.99bn Forex In Six Months
The Central Bank of Nigeria supplied $13.99bn into the market between January and June. The bank disclosed this in its…
Oil Rises Above $42 On Supply Losses, U.S. Stimulus Hopes
Oil rose above $42 a barrel on Thursday, supported by output shutdowns in the U.S. Gulf of Mexico and the…
Dubai-Bound Passenger Held With 5,342 ATM Cards
A man has been arrested with 5,342 Automated Teller Machine (ATM) cards at the Aminu Kano International Airport, Kano. Sanusi…
Europe’s Major Economies Predict More Dire Declines To Come As Coronavirus Rages
LONDON — Major European economies are downgrading already dire economic forecasts on the back of a second wave of coronavirus…
Analysts Fault Fitch’s Stable Outlook On Nigeria
Analysts at Afrinvest Securities have faulted the recent upgrade of Nigeria’s macroeconomic outlook to stable by Fitch Ratings as there…
Naira Stable At Investors Window Amid 0.5% Rise In FX Demand
The value of the Naira against the Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (FX)…
Billionaire Wealth Smashes Records During COVID-19
Global billionaire wealth smashed record levels during COVID-19 breaching the $10tn (£7.7tn) mark for the first time. Despite an initial…
Nikola Founder Trevor Milton Sues Utah Businessman For Defamation Over Tweets About Treatment Of Women
Nikola founder Trevor Milton has sued a Utah businessman for defamation, accusing him of a “malicious campaign to harass” and…
Fed’s Kashkari Warns That Delaying Stimulus Will Have ‘Enormous Consequences’
Minneapolis Federal Reserve President Neel Kashkari became the latest central banker to warn against not getting more stimulus to the…
Worries Over $2b Forex Demand Backlog – Nigeria
Fitch Ratings has expressed concerns about the state of the naira and rising forex demand backlog estimated at $2 billion.…
Investors Gain N297bn As 36 Stocks Push Market Higher
Investors in the Nigerian equity market gained N297bn on Monday as 36 firms recorded price appreciation at the end of…
Nigeria Aims To Revamp Refineries, End Oil-For-Fuel Swaps
Nigeria aims to end the country’s so-called oil-for-fuel swaps system in the near future and rely instead on oil products…
Dollar Weaker As U.S. Fiscal Stimulus Hopes Lift Risk Appetite
The dollar was on the defensive against most currencies on Tuesday as rising optimism that U.S. lawmakers could agree on…
F.G Considers Tax Holiday For Maritime To Cushion COVID-19 Effect
Poised to stimulate investment and boost activities amid the downturn induced by COVID-19, the Federal Ministry of Transportation is seeking…
Nigeria Battles Covid-19 With New Small Business Support Fund
Nigeria will help cushion small business owners impacted by the coronvirus with grants from a 75 billion naira ($195.5 million)…
The Plantation City In Warri Enters Nigeria’s Premium Real Estate Market
Nigeria’s real estate hubs are listed as Lagos, Abuja and Port Harcourt. Well, that was before The Plantation City, a…
2021 Budget: Expert Tasks FG On Monitoring, Evaluation For Enhanced Performance
A financial expert, Dr Glenn Prince-Abbi, on Monday urged the Federal Government to map out strategies for proper monitoring and…
Foreign Reserves Face Further Decline As Export Revenue Crisis Worsens
Nigeria’s international reserves, which opened at $38.100bn in January, 2020 may face further decline before the end of the year…
Nigeria’s Foreign Borrowings Surge By Over 400% In 10 Years
Nigeria’s foreign borrowing in the past 10 years has ballooned more than five-folds, an analysis by TheCable has shown. Nigeria,…
Sterling Tops $1.30 As Investors Push Back Negative Rate Expectations
Sterling climbed above $1.30 on Tuesday for the first time in three weeks as investors pushed back expectations for when…
Bank Offers Salary Advance To Non-Customers
Polaris Bank has re-launched its popular Salary Advance with an added capability of enabling non-account holders to access quick funds…
IATA: COVID-19 Will Dip Africa’s GDP By $37b
The International Air Transport Association (IATA) has warned that the damage being done to the African aviation industry and the…
Oil Prices Rebound As Investors Watch Trump’s Health Condition Following His Covid-19 Diagnosis; Asia-Pacific Stocks Rise
SINGAPORE — Oil prices saw a rebound in Monday trade following a Friday drop as investors continue to watch for…
Capital Market Calls For Review Of Economic Architecture
LEADING capital market experts and financiers have called for a comprehensive review of economic architecture to reintegrate economic policies with…
Nigeria Widens Markets’ Depth With Central Counterparty Clearing Houses
NIGERIA’s apex capital market regulator, Securities and Exchange Commission (SEC), has granted approval to NG Clearing Limited and FMDQ Clear…
Nigeria Is African Market With Greatest Online Potential, Say SBC Digital Summit Africa Experts
The dollar index slipped slightly on Monday but was little changed from Friday’s close as financial markets waited for news…
Saudi Arabia Pegs Budget To Oil At Around $50, Goldman Says
Saudi Arabia’s Finance Ministry is budgeting for oil prices to be around $50 a barrel for the next three years,…
Nigerian Police Personnel Banned From Searching Phones, Laptops
Nigeria’s Inspector general of police Mohammed Adamu on Sunday banned personnel of the police from indiscriminate searching of mobile phones…
Dollar Holds Breath Waiting For Trump Health Updates, Fiscal Package
The dollar index slipped slightly on Monday but was little changed from Friday’s close as financial markets waited for news…