UPDATE 1-Nigeria Asks For $1.1 Bln Advance From Eni, Shell In Graft Case
Nigeria asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.092 billion as an…
Year: 2020
Marketer Free To Sell Petrol At Suitable Prices, PPPRA Tells Nigerians
Barely 24 hours after depot owners called for full deregulation of the downstream sector of the petroleum industry, the Nigerian…
Nigerian Stock Exchange Intensifies Efforts To Introduce Derivatives To The Nigerian Capital Market
As investors anticipate the launch of Derivatives trading in the Nigerian capital market, The Nigerian Stock Exchange (NSE or The…
Oil Slides 5% To Lowest Level Since June On Demand Fears
Oil slid 5 percent to below $40 a barrel on Tuesday, its lowest since June, over concerns that a demand…
CBN’s FX Interventions; Good Cheer But How Sustainable?
According to reports in the local media, the Central Bank of Nigeria (CBN) has resumed FX sales at the Investors…
Exchange Rate Is Weakened At NAFEX Window As Drop In Dollar Supply Continues
The Forex turnover dropped by 22% as Nigeria’s exchange rate at the NAFEX window depreciated to 386.21 during intraday trading…
Stronger Collaboration With CBN’ll Stabilise Naira –ABCON President
The Association of Bureau De Change Operators of Nigeria (ABCON), has called for stronger collaboration between the Central Bank of…
Lower Oil Prices Are Coming
Oil is entering a weak season at the same time that the monthly cycle peaks. The combination of the bearish…
Foreign Exchange Inflows Fell To $5.52bn In May
Foreign exchange inflows into the country fell to $5.52bn in May, the latest figures from the Central Bank of Nigeria…
Refinery News Roundup: Most Refineries In Africa Back Online
Chad’s Ndjamena refinery, in Djarmaya, 30 km (17 miles) from the capital, is providing regular daily shipments of butane, and…
Dollar Firms, Yen Up As Tech Selloff Hits Forex
The dollar found support on Wednesday as a stock market slide spooked investors into selling riskier currencies, while worries about Brexit pushed…
Travellers Groan Over Arbitrary Covid-19 Test Fees
The Federal Government has denied knowledge of alleged N42,000 being charged for COVID-19 test by its approved hospitals even as…
Edo Modular Refinery Targets To Process 60,000BPD Of Oil
Benin City — The Edo Modular Refinery is targeting an increased refining capacity of 60,000 barrel per day (bpd) of…
GTBank Begins Search For Agbaje’s Successor, To Adopt Holdco Structure
Guaranty Trust Bank Plc (GTBank) has started the recruitment process for the role of its chief executive officer currently held…
Stocks Making The Biggest Moves After Hours: Lululemon, Slack, Lyft And More
bell: Slack — Shares of the messaging platform tanked 14% in after hours trading on Tuesday despite its better-than-expected quarterly results.…
Qatar Airways To Relaunch Lagos Connections This Week
Qatar Airways will relaunch flights to Murtala Muhammed International Airport in Lagos, Nigeria, from September 10th. The four times weekly…
NESG Expresses Worry Over Poor State Of Nigeria’s Economy
The Nigerian Economic Summit Group (NESG), a private sector-led think-tank and policy advocacy group that promotes sustainable growth and the…
African Nations Say They’re Being Ripped Off By Wall Street
Macky Sall had a bone to pick with creditors. Sitting before the head of the International Monetary Fund, investors and…
A Review Of The Recent CBN Directive On Form M Issuance From A Transfer Pricing Perspective
Following the drop in global crude oil prices and the economic shutdown caused by the COVID-19 pandemic, economies across the…
Singapore’s Temasek Says Its Portfolio Fell For The First Time In Four Years Due To Covid-19
Singapore’s state investment company Temasek said Tuesday the net value of its portfolio fell for the first time since 2016…
Oil Drops 5% On Demand Fears
Oil fell below $42 a barrel on Tuesday, its 5th session of decline, pressured by concerns that a recovery in…
Mitch McConnell Says Senate Will Vote On Coronavirus Stimulus Plan As Soon As This Week
The Senate will vote on a coronavirus stimulus bill as early as this week, Majority Leader Mitch McConnell said Tuesday.…
Tesla Shares Crater More Than 13% After S&P 500 Snub
Tesla shares tumbled Tuesday, after Elon Musk’s electric vehicle maker was left out of the S&P 500 by the committee…
Nigeria To Replace National Identity Card With Digital Numbers
The federal government has given an insight into the transfer of the National Identity Management Commission (NIMC) to the Ministry…
Biden’s Hands May Be Tied On Trump’s China Tariffs
“Damaging,” “reckless” and “disastrous” are some of the words Joe Biden has used to describe tariffs imposed by Donald Trump…
Apple Announces Sept. 15 Event Where It’s Expected To Announce New products, iPhone Coming Later
Apple just announced a digital-only event on Sept. 15 where it’s expected to reveal new products. Apple typically unveils its…
‘Tenet’ Scores $20 Million In Biggest Domestic Opening Since Pandemic Upended Movie Industry
After months of delays Christopher Nolan’s “Tenet” finally landed in U.S. theaters over the weekend, cashing in more than $20…
Bitcoin Is Finding A Niche In Africa
Africa is experiencing a quiet boom in the use of cryptocurrency. Over the last year, crypto transfers by individuals and…
Abuja International Airport Receives First Commercial Flight After Covid -19
An Ethiopia Airline plane on Monday, arrived at the Nnamdi Azikiwe International Airport, Abuja, conveying 120 passengers and 13 crew…
Insight-How Bitcoin Met The Real World In Africa
Four months ago, Abolaji Odunjo made a fundamental change to his business selling mobile phones in a bustling street market…