Shell Green Plans Under Scrutiny As Holders Seek More Action
Royal Dutch Shell Plc has been under increasing pressure from investors to slash emissions and pivot toward cleaner energy, and the…
Day: May 18, 2021
Overvalued Dollar Will Weaken Further If Fed Fails To Respond To Higher Inflation: MUFG
According to MUFG analysts, the US Dollar (USD) remains overvalued in global currency markets. Inflation differentials will widen the gap and weaken…
Fall In Nigeria’s Remittances Drag SSA Total Remittances In 2020
A World Bank report states that diaspora remittances to Sub-Saharan Africa (SSA) declined by 12.5% to US$42bn in 2020. The…
UK Sends $5.97 Mln Of Jailed Politician’s Stolen Assets To Nigeria
The dollar teetered near multi-month lows against European currencies on Tuesday as Treasury yields stall due to renewed expectations that…
Immigration Suspends Issuance Of New Passports, Renewals Till June
The Nigeria Immigration Service has announced the nationwide suspension of issuance of new passports and renewal of old ones in…
Shell In Talks With Nigeria To Exit Onshore Oil Fields As Part Of Green Push
–After half a century of pumping oil out of Nigerian swamps, Royal Dutch Shell Plc acknowledged that its spill-prone operations…
China Bans Financial, Payment Institutions From Cryptocurrency Business
China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative…
Finally, £4.2m ‘Ibori Loot’ Returns To Nigeria, FG Confirms Receipt
The Federal Government, on Tuesday, confirmed the receipt of the sum of £4,214,017.66 of the loot associated with the family…
Nigeria’s Buhari Asks Parliament To Approve $6.18 Bln Of New External Borrowing
Nigeria’s President Muhammadu Buhari requested on Tuesday parliamentary approval for new external borrowing of $6.18 billion. Nigeria will seek to…
Exchange Rate Policy Ambiguities, Forex Scarcity Worsen Business Environment
The recent move by the Central Bank of Nigeria to erase the N379 official exchange rate from its website has…
Sterling Rises Above $1.42 After UK Jobs Data
Versus a weaker dollar, the British pound rose to a three-month high on Tuesday, with sentiment also boosted by jobs…
Brent Oil Climbs To $70 A Barrel As Reopenings Boost Demand
Brent crude topped $70 a barrel in London for the first time since mid-March amid signs that recovering consumption has…
Dollar Drops As Yield Support Fades Amid Expectations Of Low U.S. Rates
The dollar plumbed a six-year trough against the Canadian dollar and teetered near multi-month lows versus European currencies on Tuesday,…
UK Jobless Rate Falls Again, Hiring Up As Lockdown Eases
Britain’s unemployment rate fell again to 4.8% between January and March, when the country was under a tight lockdown, and…
Shipping Gathers Together To Fight Piracy Off Nigeria
Around 100 maritime companies have signed the Gulf of Guinea Declaration on Suppression of Piracy, which was launched yesterday, as…
China’s Yuan Firms As Dollar Drops On U.S. Rate Outlook
China’s yuan strengthened on Tuesday as investors tempered earlier expectations that the U.S. central bank could hike interest rates soon,…
Nigerian Stocks Halt Gains As Sell Pressure Weighs On Big-Cap Shares
Nigerian equities were down by 0.44 per cent on Monday, shedding value for the first time in 10 days in…
Analysts Express Cautious Optimism As Inflation Drops To 18.12%
After 20 consecutive months of increase, the Consumer Price Index(CPI), which measures inflation has dropped to 18.12 per cent (year-on-year)…
Family Businesses Key To Realising Nigeria’s 6% Yearly Growth
Based on their significance, it is pertinent that lasting family businesses emerge in Nigeria if the country will realise its…
AfDB, European Bank To Bridge US$2.5trn Financing Gap In Africa
The African Development Bank (AfDB) Group and the European Bank for Reconstruction and Development (EBRD) have signed a memorandum of understanding (MoU)…
The Naira Depreciated Against The US Dollar On IEFX Window As Nigeria’s Oil Production Improved
The Macroeconomy Nigeria’s oil production improved. Headline inflation inched up further in March 2021. The Naira depreciated against the U.S.…
Nigerian Naira Weakens On Official Market
ABUJA: Nigeria’s naira inched down against the dollar on Monday, having recently weakened in the official market in a move…
Banks Consume More Energy Than Bitcoin – Report
A report by Galaxy ‘On Bitcoin’s energy consumption’ has revealed that traditional banks use more energy than Bitcoin. Last week,…
Exchange Rate: Outlook Of Ghana’s Cedi Against Foreign Currencies
On the interbank board today May 17, 2021, the Ghana Cedi started the 21st trade week of the 2021 fiscal…
Raising Diaspora Remittances With Offshore Networks, Partnerships
Diaspora remittances remain major sources of stable external financing for Nigeria and developing countries. Countries have continued to harness these…
Nigeria’s Annual Inflation Rate Dips Slightly In April, Naira In Focus
Nigeria’s annual inflation eased marginally to 18.12%, the first dip in the rate in 20 months, the statistics office said…
Foreign Investors’ Trapped $2bn Dragging Down External Reserves – Rewane, Others
The clearing of foreign portfolio investors’ funds that have been trapped in Nigeria for months on the back of foreign…
Naira Gains 0.04% At I&E, Remains Unchanged At Black Market
The Naira appreciated by 27 kobo or 0.04 per cent on the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on…
WorldRemit Backs CBN’s Extension Of Naira-4-Dollar Scheme
WorldRemit, a global cross-border payments company, has expressed support for the Central Bank of Nigeria’s decision to extend the deadline…
Pound-Dollar Steady On UK Lockdown Easing
The Pound US Dollar (GBP/USD) exchange rate is steady as the latest lockdown easing measures come into force across much…