Nigerian Seaports Poorly Ranked In West Africa, LCCI Laments
The Lagos Chamber of Commerce and Industry has expressed concern over the state of the country’s seaports, saying this has…
Day: April 22, 2021
C$ Posts Biggest Gain In 10 Months As Bank Of Canada Cuts Stimulus
The Canadian dollar surged by the most since June 2020 against its U.S. counterpart on Wednesday and the Toronto stock…
Nigerians Shun Naira For Foreign Currencies To Protect Wealth
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research…
Used-Car Prices Leap On U.S. Economic Recovery, Supply Crunch
Used car prices in the U.S. are soaring. The Manheim U.S. Used Vehicle Value Index, a gauge of pricing trends,…
BDC Operators Beg CBN To Review N2/$1 Transaction Margin
Bureaux De Change (BDC) operators in Nigeria have asked the Central Bank of Nigeria (CBN) to review the transaction margin…
Dollar Ban For Wheat Purchases May Add To Nigeria Food Scarcity
Nigeria’s plans to expand restrictions on dollar access for imports to now also include sugar and wheat could worsen food…
CBN, ICT As Economic Stimulant
Lagos — The information and communications technology (ICT) sector has in recent times been a major player in solving societal…
CBN To Sanction Banks, FX Dealers Rejecting Old Dollar Bills
Deposit Money Banks (DMBs) and other authorised foreign exchange (forex) dealers rejecting old/lower denominations of US Dollar bills will henceforth…
Shippers Council Targets 80% Automation By June
The Nigerian Shippers’ Council (NSC) says it hopes to achieve 80 per cent automation of the entire seaport processes on…
Pound-Dollar To Extend Gains To 1.45 By June 2021 Day NAB
The British Pound to Dollar (GBP/USD) is forecast at 1.4500 for June 2021 and 1.50 for December. Foreign exchange analysts…
Higher Oil Prices Push Up External Reserves By $409m
The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures from the…
Dollar Struggles To Recover After Slump To 7-Week Trough Amid Lower U.S. Yields
The dollar languished on Wednesday, hovering just above a seven-week low with subdued U.S. bond yields reducing the currency’s yield…
Sterling Holds Ground As UK Inflation Ticks Higher
“CPI isn’t a story that will be driving sterling in the short term”, said Jeremy Stretch, a foreign exchange strategist…