Dollar Holds Firm As Virus Restrictions In Asia Unnerve Investors
The dollar held above recent lows on Monday as new COVID-19 restrictions in Asia and mixed economic data in China…
Month: May 2021
Chinese Yuan Slumps As PBoC Injects $16 Billion Into Financial System
The Chinese yuan weakened against several of its major currency counterparts to kick off the trading week as the People’s…
Nigeria’s Inflation Rate Slows To 18.12% In April — First Decline In 20 Months
The consumer price index, which measures the rate of change in the price of goods and services, dropped to 18.12…
India’s Oil Demand Shrinks Further As Virus Crisis Persists
India’s oil demand worsened in the first half of May as large parts of the nation remained under local lockdowns…
Inflation – Money Supply Rises 22.5 Percent To N38trn
The increasing demand for cash by members of the public to meet the rising prices of goods and services has…
The World Economy Is Suddenly Running Low On Everything
A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the…
ANALYSIS: 77% Of Oil Spills In Nigeria Occurred In Only Three States
Between January 2019 and April 2021, 12 states in Nigeria recorded 881 cases of oil spillage, according to data obtained…
N120b Petrol Subsidy To Double As CBN Adjusts Exchange Rate
As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official…
Currency Printing Is Finance Ministry’s Responsibility, Says Owoh
Godwin Owoh, a professor of applied economics and expert in central banking, in an interview with GEOFF IYATSE, speaks on…
NNPC Selects 26 Firms To Lift Nigeria’s Crude Oil
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift…
Agusto & Co Forecasts $22bn Diaspora Remittances For Nigeria In 2021
Pan-African credit rating agency, Agusto & Co has projected that Nigeria’s diaspora remittances will reach $22 billion by 2021, representing…
Branch Offers Free Money Transfers
The Branch Finance Company is offering free unlimited money transfers and a 20 per cent per annum investment returns for…
Investors Gain N150bn As Nigerian Stocks Cut Losses
Investors gained N150bn at the close of trading on the Nigerian Exchange Limited last week as stocks pared their losses.…
China Loan At Risk As Nigeria Faces New Claim Over Power Deal
A Nigerian company that lost out on a contract to build a multibillion-dollar hydropower plant has filed a $400 million…
Sterling Holds Recent Gains As Britain Enters Second Phase Of Reopening
Sterling held on to recent gains against the dollar on Monday as Britain took a big step towards reopening its…
$1.24bn Spent On Food Imports Despite Buhari’s Forex Ban
Food products imports gobbled up $1.24bn of the foreign exchange supplied by the Central Bank of Nigeria from October 2020…
Elon Musk Just Reopened An Old Wound In The Bitcoin World
Earlier this year, when Tesla added Bitcoin to its balance sheet, CEO Elon Musk became an instant hero in the…
NSML To Establish Dry Docking Facility
The NLNG Ship Management Limited (NSML), which manages vessels belonging to the Nigerian Liquefied Natural Gas (NLNG), is to establish…
Dollar Lower After Weak Data, As Inflation Fears Ease
The dollar edged lower against major currencies on Friday after U.S. retail sales unexpectedly stalled in April and as concerns…
IMF Mission Says Ghana Economy Rebounding
A country mission of the International Monetary Fund said on Friday that Ghana has managed its COVID-19 outbreak very effectively…
Nigeria Devalues Naira, Official Rate Now 411 To Dollar
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to…
Three Refineries Processed No Crude In January – NNPC
Latest operations report of the Nigerian National Petroleum Corporation indicates that Nigeria’s refineries under the management of NNPC could not…
Nigeria Lets Naira Weaken In Possible Move To Unify Exchange Rates
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to…
Economists Evaluate Nigeria-China Currency Swap
Some Financial Economists have expressed great concerns on the minor influence that the Nigeria-China currency swap had on the country’s…
We Breached No Laws In Our Relationship With INTELS – Suspended NPA Boss Usman
Embattled suspended Managing Director of the Nigerian Ports Authority, Hadiza Bala Usman, has debunked claims by an online newspaper, Sahara Reporters,…
Toxic Loans, Courts May Force AMCON’s Burdens On Taxpayers
Seized Assets Face Capital Erosion Amid Agency’s Monetisation Hurdles • Aero, Arik Struggling, Five Years Post Takeover • Over 3,000…
CBN Begins Gradual Harmonisation Of Exchange Rates
The Central Bank of Nigeria (CBN) yesterday began gradual harmonisation of exchange rates with the removal of N379/$1 official rate…
Sterling Steadies Above $1.40 As Stronger Dollar Weighs
Sterling steadied above $1.40 against the dollar on Thursday after losing its perch near $1.41 the previous day when stronger…
Nigeria’s Diaspora Remittance Dropped By 28 Per Cent In 2020 – World Bank
The World Bank, on Wednesday, disclosed that diaspora remittances to Nigeria dropped sharply by 28 per cent in 2020. It…
Power Outage As National Grid Collapses Again
On Wednesday, the nation’s grid collapsed once more, triggering power outages in some parts of the country. This was stated…