Real Time Financial News Website
The dollar held above recent lows on Monday as new COVID-19 restrictions in Asia and mixed economic data in China encouraged investors to stick with safer currencies, while a pullback…
The Chinese yuan weakened against several of its major currency counterparts to kick off the trading week as the People’s Bank of China (PBoC) pumped approximately $16 billion in liquidity…
The consumer price index, which measures the rate of change in the price of goods and services, dropped to 18.12 percent in April from 18.17 in March. The last time…
India’s oil demand worsened in the first half of May as large parts of the nation remained under local lockdowns to battle the world’s worst outbreak of Covid-19. Sales of…
The increasing demand for cash by members of the public to meet the rising prices of goods and services has caused money supply in the economy to jump by 22.5…
A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to…
Between January 2019 and April 2021, 12 states in Nigeria recorded 881 cases of oil spillage, according to data obtained from NOSDRA, a government-run satellite tracker. About 77 per cent…
As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official rate from its website, all is set for labour unions…
Godwin Owoh, a professor of applied economics and expert in central banking, in an interview with GEOFF IYATSE, speaks on the economic distortion caused by unrestrained Ways & Means (W&M)…
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. The…
Pan-African credit rating agency, Agusto & Co has projected that Nigeria’s diaspora remittances will reach $22 billion by 2021, representing a year-on-year (y-o-y) rise of five per cent. The Lagos-based…
The Branch Finance Company is offering free unlimited money transfers and a 20 per cent per annum investment returns for Nigerians, through its specialised app, called Branch. Branch is licenced…
Investors gained N150bn at the close of trading on the Nigerian Exchange Limited last week as stocks pared their losses. The NGX All-Share Index and market capitalisation appreciated by 0.72…
A Nigerian company that lost out on a contract to build a multibillion-dollar hydropower plant has filed a $400 million arbitration claim against the nation’s government, further hampering its plans…
Sterling held on to recent gains against the dollar on Monday as Britain took a big step towards reopening its economy, lifting a number of social restrictions imposed to combat…
Food products imports gobbled up $1.24bn of the foreign exchange supplied by the Central Bank of Nigeria from October 2020 to March 2021 despite the ban directive from the President,…
Earlier this year, when Tesla added Bitcoin to its balance sheet, CEO Elon Musk became an instant hero in the cryptocurrency’s community. Then he started tweeting about Dogecoin — which…
The NLNG Ship Management Limited (NSML), which manages vessels belonging to the Nigerian Liquefied Natural Gas (NLNG), is to establish dry-docking facility to end a capital flight. NLNG, the Managing…
The dollar edged lower against major currencies on Friday after U.S. retail sales unexpectedly stalled in April and as concerns about prospects of accelerating inflation receded. The greenback <=USD> was…
A country mission of the International Monetary Fund said on Friday that Ghana has managed its COVID-19 outbreak very effectively and its economy is rebounding with the support of strong…
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to traders, who said this could be a move by the…
Latest operations report of the Nigerian National Petroleum Corporation indicates that Nigeria’s refineries under the management of NNPC could not refine a drop of crude oil amid concerns by the…
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to traders, who said this could be a move by the…
Some Financial Economists have expressed great concerns on the minor influence that the Nigeria-China currency swap had on the country’s economy, three years after. The experts told newsmen in Lagos…
Embattled suspended Managing Director of the Nigerian Ports Authority, Hadiza Bala Usman, has debunked claims by an online newspaper, Sahara Reporters, that she unlawfully frustrated NPA contractors, particularly INTELS, and…
Seized Assets Face Capital Erosion Amid Agency’s Monetisation Hurdles • Aero, Arik Struggling, Five Years Post Takeover • Over 3,000 Court Cases Hindering Disposal Process, Says Spokesperson • ‘Our Obligation…
The Central Bank of Nigeria (CBN) yesterday began gradual harmonisation of exchange rates with the removal of N379/$1 official rate from its website. The move by the apex bank is…
Sterling steadied above $1.40 against the dollar on Thursday after losing its perch near $1.41 the previous day when stronger than expected U.S. inflation data pushed the dollar higher. UK…
The World Bank, on Wednesday, disclosed that diaspora remittances to Nigeria dropped sharply by 28 per cent in 2020. It noted that this sharp drop was mostly responsible for the…
On Wednesday, the nation’s grid collapsed once more, triggering power outages in some parts of the country. This was stated in a statement signed by the General Manager (Public Affairs)…