What Is Dogecoin? And Why Is It Rising And Falling With Elon Musk?
The cryptocurrency dogecoin went on a rocket ride to the moon and back over the weekend after Elon Musk poked…
Day: May 10, 2021
Petroleum Production And The Paradox Of Plenty
Takudzwa Takunda Mutevedzi Imagine winning a million-dollar lottery but instead of rolling around in opulence and glamour for eternity, you plunge…
UK Secures £276m From G7 To Assist North-East Nigeria
ntries face. Millions of people in Yemen, South Sudan and North East Nigeria are already in crisis, the statement said.…
Ecobank Partners NiDCOM To Mobilise Nigerians Abroad For National Development
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has stated that the bank is privileged to work closely with the Nigerians in Diaspora Commission,…
Biggest Crypto Exchange Binance Briefly Suspended Withdrawals
Binance Holdings Ltd., the largest cryptocurrency exchange, briefly suspended withdrawals on Monday. The company made the announcement on Twitter that…
World’s Dollar Reserves Hit 25-Year Low
The percentage of global foreign reserves held in U.S. dollars declined to its lowest point in 25 years during the…
Wall Street Unleashes Old Tricks In $2.5 Trillion Crypto Jungle
The symbols for Bitcoin and Ethereum cryptocurrency sit displayed on a screen during the Crypto Investor Show in London, U.K.,…
Uber Raises Fares By 13% In Lagos
The economy option for Uber, popularly referred to as UberX, has been increased by 13 per cent in Lagos State.…
COVID-19: FG Returns Curfew, Restriction On Mass Gatherings
The Federal Government has re-introduced a nationwide 12am to 4am curfew as part of efforts to curtail further spread of…
SEC Steps In As More Nigerians Buy Foreign Stocks
The Securities and Exchange Commission has said it will register and actively monitor brokers selling stocks for foreign companies in…
Agency Banking … New Kid On The Block
Agency banking is one of the models being used by commercial banks to reach the unbanked across the nooks and…
Dollar Back To Where It Began The Year As Rally Burns Out
Friday’s worse-than-expected U.S. employment data saw the Bloomberg Dollar Spot Index drop decisively below its 2021 uptrend, putting it back…
China’s Much-Hyped Digital Yuan Fails To Impress Early Users
As China moves closer to rolling out the world’s first major sovereign digital currency, speculation over the global implications has…
Germany Has Agreed To Return Nigeria’s Looted Treasure. Will Other Countries Follow?
The bronze plaques from his birthplace looked strange at the British Museum. Enotie Ogbebor, a visiting artist, knew they were…
Govt Mulls Extension Of Petrol Parity Fund To Gas Supply Nationwide
The federal yesterday indicated that it is considering extending the current equalisation scheme in the petrol supply system in the…
Pound Rises As Risk Of Imminent Referendum On Scotland Recedes – BLOOMBERG
The pound strengthened after the Scottish National Party’s election showing pushed back the risk of a near-term vote on independence,…
Trade Deficit Widens To $2.51bn After Border Reopening
Nigeria’s trade deficit rose from $1.69bn in December 2020 to $2.51bn as of the end of January 2021 despite the…
Nigeria’s Revenue Threatened As India Slashes Crude Imports By $39.5bn
Nigeria’s revenue earning capacity has come under threat following the reduction of importation of crude oil by India. India, Nigeria’s…
UPDATE 1-Sterling Rises Above $1.40 For First Time Since February
The pound broke above the key $1.40 level for the first time in more than two months on Monday, reaching…
Over N3trn Unremitted Fund With MDAs – Senate
As the Senate Committee on Finance continues its investigations into revenue remittances by over 700 Ministries, Departments and Agencies(MDAs) of federal government, the committee chairman, Senator Solomon…
CBN Promises More Credit Facilities For Youths
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has reiterated the apex bank’s commitment to provide more loans to…
Forex Scarcity As Vampire Sucking Economy Dry
The persistent scarcity of foreign exchange in the country is largely responsible for the multiple exchange windows, an anomaly that…
Oil Traders Work To Avert Shortages From U.S. Pipeline Hack
The shutdown of America’s largest fuel pipeline after a cyberattack is threatening to send gasoline prices to the highest in…
Nigeria To Diversify Forex With Gold Trading
Nigeria is expected to deepen its foreign exchange (forex) earnings with the impending listing of Dukia Gold’s diversified financial instruments…
CBN, IITA, Others To Halt Rejection Of Nigerian Crops
The Central Bank of Nigeria is working with the International Institute of Tropical Agriculture, government agencies and private firms to…
Rise In Import Tariff Takes Toll On Businesses
For most businesses dependent on importation of some kind, increase in import tariffs remains a sore point as well as…
Fed Warns US Financial System Remains Vulnerable To Threats
The Federal Reserve is warning that the U.S. financial system remains vulnerable to threats stemming from the global pandemic, including…