FG Grants Approval For $2.9bn Escravos Seaport
The Federal Government has granted approval for the establishment of the Escravos Seaport Industrial Complex, ESIC, to Mercury Marine Concession…
Day: April 28, 2021
The Great Exit: Central Banks Line Up To Taper Emergency Stimulus
The Bank of Canada set the taper ball rolling last week, becoming the first major central bank to cut back…
Senate Passes Amended AMCON Bill, Okays Seizure Of Debtors’ Assets
The Senate, on Wednesday, passed the Asset Management Corporation of Nigeria Amendment bill. The passage of the bill followed the…
Alternative Seaports, Solution To Gridlock – Lagos Govt
Lagos State Government, yesterday, expressed dissatisfaction over the current traffic congestion in Apapa and its environs, despite the introduction of…
‘Banks Pumped N4.56tr Into Economy In One Year’
Banks have injected N4.56 trillion into the economy as loans through private sector operators in the last 12 months, a…
Nigeria Can`T Afford Another Civil War – Osinbajo
Vice President Yemi Osinbajo, says Nigeria cannot afford another civil war because it will not augur well for the country.…
UPDATE 1-Bank Of Canada Says It Is Expecting Strong Growth In Second Half Of 2021
The Bank of Canada is expecting strong consumption-led growth in the second half of the year as vaccinations against COVID-19…
Oil Prices Steady As Rising Demand Outlook Tempered By COVID Worries
Oil prices were steady on Wednesday as support coming from forecasts of a recovery in global fuel demand was tempered…
How Palladium Became A Really, Really Precious Metal
Palladium is the most valuable of the four major precious metals, with an acute shortage driving prices to records in…
Rising Inflation In India Risks Central Bank’s Monetary Easing
The world’s worst Covid-19 outbreak in India risks fanning price pressures, threatening to limit options for the inflation-focused central bank…
Will The Fed Snap The Dollar’s Recovery?
After selling off throughout the month of April, the greenback finally rebounded on the eve of the Federal Reserve’s monetary…
Nigeria, ICC Younde Forge Alliance To Tackle Piracy In Gulf Of Guinea
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Interregional Coordination Centre (ICC), Yaoundé, have forged an alliance to…
Pricey Corn Has Farmers Feeding Wheat For Humans To Livestock
China’s expanding hog herd is vacuuming up the world’s feed grains and forcing traders to dip into wheat reserves, a…
Dogecoin Price Sky Rockets After Elon Musk Calls Himself ‘The Dogefather’
The price of dogecoin has shot up after technology billionaire Elon Musk referred to himself as “The Dogefather”. The meme-inspired cryptocurrency rose from $0.25…
CBN Injects $1.47bn Into Forex Market In One Month
The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts…
African Trade Finance Outflows To Hit $5b
Constrained global financial conditions caused by COVID-19 have led to massive portfolio outflows from Africa, exceeding $5 billion in the…
Weak Fiscal Space Putting Pressure On Monetary Policy
A member of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), Prof. Mike Obadan, has said the country’s…
ECO: Strengthening Naira More Beneficial Than West African Regional Currency – Diplomat
As West African countries continue to dilly-dally on the adoption of a common currency, a former diplomat has advised the…
Banks Electronic Transfers Hit N356.47tr
The National Bureau of Statistics (NBS) yesterday said in the Fourth Quarter (Q4) 2020, total transactions recorded through Electronic Payment…
Dollar Near Multi-Week Lows Before Fed, Yen Unmoved After BOJ
The dollar hovered near multi-week lows versus major peers on Tuesday, weighed by subdued Treasury yields ahead of the Federal…
Perspectives On Diaspora Remittances
As the largest recipient of remittances in sub- Saharan Africa and indeed the seventh largest among low and middle-income countries (LMICs),…
Commercial Banks’ Loan Exposure To Government Hits N1.8 Trillion
The total commercial loans to the government, at all levels, rose to N1.77 trillion at the close of last year,…