Stocks could be volatile in week ahead amid turbulence from cryptocurrency
The trading pattern of the past two weeks – particularly alongside cryptocurrency’s movements – suggests stocks could continue to be…
Day: May 21, 2021
Forex Speculators To Lose N100bn As CBN Sustains Funding For BDCs
Foreign exchange speculators will lose over N100 billion in the next month as the Central Bank of Nigeria (CBN) sustains…
Wealth Fund That Quadrupled Profits Now Pivots With Bet On Europe
One of Africa’s largest sovereign wealth funds rode the wave of U.S. technology stocks to a banner 2020. Now, it’s…
Nigeria Governors Call For Full Deregulation Of Fuel Prices
Nigeria’s governors have called for a full deregulation of the country’s downstream oil sector so that pump price floats with…
African Financing Faces Mounting Challenges
International banks are increasingly reluctant to commit to African projects, although domestic banks are growing with an eye on filling…
Naira Sells For N411.31/$1 At I&E As Cryptos Recover
Despite a drop in the demand for FX at the Investors and Exporters (I&E) window of the foreign exchange market on Thursday,…
EU Disburses €10m To Combat Human Trafficking In Nigeria
The European Union (EU) says it has invested 10 million euros in Action Against Trafficking in Persons and Smuggling of…
China Should Let Yuan Rise To Offset Imported Price Rises, C.Bank Official Says
China should let its yuan currency strengthen to help offset the impact of rising import prices, a central bank official…
CNY: Hints Of A PBoC Change In FX Policy Priorities?
A central bank official has today proposed that China should let the yuan appreciate to offset the rising costs of…
Nigeria’s Biggest Data Center To Double Capacity On Demand Surge
Nigeria’s biggest data services firm, MainOne Cable Co., plans to almost double storage capacity over the next two years after demand…
IMF Pushes G20 States To Back $50bn Global Mass Vaccination Drive
Wealthy nation backing for a $50bn (£35bn) mass global vaccination drive could provide a $9tn boost to the world economy, the…
Hong Kong To Restrict Crypto Exchanges To Professional Investors
Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city’s markets regulator and will only be…
Pound Hits Two-Year High Against Dollar Amid Optimism For UK Recovery –
The pound reached a two-year high against the dollar (GBPUSD=X) on Friday amid rising hopes for a rapid economic recovery…
Green Africa Gets Nod For Ticket Sales
Lagos-based airline, Green Africa, is set to commence ticket sales via its website – greenafrica.com ahead of flight operations following…
Sterling Steadies After Strong Retail Sales Data; PMIs In Focus
The British pound was steady in early trading on Friday, on track for a weekly rise versus the dollar, after…
China Will More Than Double Millionaires By 2025, HSBC Says
Pedestrians walk past a Prada SpA store in the Wangfujing shopping area of Beijing, China, on Monday, Dec. 7, 2020.…
Bitcoin’s Claim Of Rivaling Gold As Portfolio Hedge Loses Luster
ISTANBUL, TURKEY – APRIL 16: A woman uses a bank ATM next to a Bitcoin ATM machine at a…
Nigeria Has World Bank’s Largest Portfolio Of More Than $12b, Says Malpass
World Bank Group President David Malpass and Vice President for Western Africa, Ousmane Diagana, in a media roundtable on Thursday,…
Nigerians To Pay N234 Billion Taxes Monthly With Petrol At N385 Per Litre
Tougher times are here and any pretension to the contrary has been ripped to shreds with Wednesday’s resolution of the…
Nigeria To Release Swiss Ship Seized Three Years Ago
The Federal Government has agreed to release the Swiss-flagged San Padre Pio oil tanker that was seized in January 2018.…
WorldRemit Reaffirms Commitment To CBN’s Naira 4 Dollar Scheme
Global cross-border payment company, WorldRemit, has said it would continue to reward customers who receive international money transfers through its…
Another Month, Another Good Auction For The DMO
The DMO held its monthly auction of FGN bonds on Wednesday. It offered its regular NGN150bn, raised NGN175bn (USD430m) and…
FG Nabs Black Market Airline Operator, Vows Clampdown
Following recent complaints on activities of illegal operations by private jet owners in Nigeria, federal authority has disclosed that culprits have been nabbed just…
FOREX-Dollar Set For Weekly Loss As Taper Fears Subside; Crypto Bounce Loses Steam
The dollar hovered around recent lows on Friday and was set to notch a modest weekly drop as traders’ concerns…
How U.S. Government Paper Currency Began, And How Private Banknotes Ended
A couple months ago, in arguing that “The Fed should give everyone a bank account,” journalist Matt Yglesias cited what he took to…
Remittance: FBNQuest Backs CBN’s Extension Of Incentives
Analysts at FBNQuest Research have expressed support for the Central Bank of Nigeria (CBN)’s extension of its “Naira 4 dollar…
Why Immigration Suspended Passport Production
Overwhelmed by the plethora of demands by Nigerians desirous of leaving the country and pressured by the producers of the…
Nigerians To Submit Phone IDs In Three Months, Says NCC
The Nigerian Communications Commission has said Nigerians will have to submit the International Mobile Equipment Identity of their phones to…
Experts Carpet CBN, Say Serial Naira Devaluation Threatens Economy, Nigerians
Financial experts have decried the continuous devaluation of the naira by the Central Bank of Nigeria, stressing its adverse impact…
Treasury Calls For Crypto Transfers Over $10,000 Reported To IRS
The U.S. Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for transfers of at least…