Bitcoin’s Plunge Intensifies, Tanks 30% To $30,000 In Single Day Amid Broad Cryptocurrency Sell-Off
Plunged to near $30,000, continuing a major sell-off that began a week ago. The digital currency was down more than…
Month: May 2021
China Will Need To Give Up FX Controls Eventually, PBOC Official Says
BC-China-Will-Need-to-Give-Up-FX-Controls-Eventually-PBOC-Official-Says , Bloomberg News (Bloomberg) — China has to give up its control over the currency’s exchange rate eventually if…
Hedging Against Inflation
Goddy Egene writes that as inflation rate remains above 18 per cent, the stock market still provides investors opportunity to…
Pension Assets Rise To N12.34 Trillion In March
Nigeria’s total pension fund assets appreciated by N100 billion in March to rally at N12.34 trillion as against the N12.24…
Big Institutional Investors Are Dumping Bitcoin And Going Back Into Gold, JPMorgan Says
Institutional investors are dumping bitcoin in favor of gold, reversing a recent trend that’s played out over the last two…
UK’ll Deny Visas To Nigerians Who Disrupt 2023 Polls – British High Commissioner
BRITISH High Commissioner to Nigeria, Catriona Laing, has said the United Kingdom, UK, would deny visas to Nigerians who disrupt…
Mobile Money Is Helping Airtel Africa And Its Rivals Bounce Back From Covid-19
Mobile money is providing a much-needed revenue buffer against disruptions from the coronavirus pandemic for Africa’s big telecoms companies, such…
Boris Johnson Fleshes Out Plans To ‘Level Up’ Prosperity In U.K.
Prime Minister Boris Johnson attempted to refocus attention on his “leveling up” agenda by unveiling plans to modernize Britain’s high…
Investors Shun Naira Debt Over Inflation Concerns
Elevated inflation and dwindling liquidity concerns are keeping investors away from Nigeria’s localcurrency debt, Bloomberg reported yesterday. According to the…
Ghana Markets Regulator Says Local Stocks May Add To 30% Gains
Ghana stocks may extend gains in 2021 of more than 30%, snapping three years of declines, as falling returns in…
INTERVENTION FUNDS: Emefiele Tackles Critics Over Regional Spread
THE Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, has faulted claims that the bank’s targeted interventions in the agricultural…
Clearing Agents Seek Better Ports
National President, Association of Nigeria Licensed Customs Agents (ANLCA), Tony Iju, has felicitated with Muslims on the occasion of the…
Buhari Hails Emergence Of New Era At Nigerian Capital Market
President Muhammadu Buhari has lauded the historic roles of the Nigerian capital market in national development and the successful transition…
Canadian Exporters Rejig Currency Hedges As Commodities Boom
Canadian exporters are adjusting their currency hedges and buying the loonie at stronger levels, in a sign market players are…
Banks Set Monthly Cash Deposit Limit For Domiciliary Accounts
The amount of cash that can be deposited into domiciliary accounts of customers in Nigeria has been reduced by banks, Business…
Yuan Slips As Sino-U.S. Tensions Weighs On Appetite
China’s yuan slipped on Wednesday as Sino-U.S. tensions weighed on risk appetite, defying central bank attempts to guide it higher…
Bitcoin Tumbles Below $40,000 After China Issues Warning
Bitcoin plunged below $40,000 for the first time in more than three months Wednesday after China said cryptocurrencies would not…
Nigeria Eyes $3b From Eurobond’s Sale
Nigeria plans to issue $3 billion or more in Eurobonds as international capital markets (ICM) open up and interest rates…
$280 billion wiped off crypto market as bitcoin falls below $40,000 for first time in 14 weeks
Bitcoin fell sharply on Tuesday continuing a major sell-off that began a week ago. The digital currency fell over 13% to…
EM’s Worst Bond Rout Far From Over As Nigeria Fights Inflation
The emerging world’s worst bond rout isn’t over yet as elevated inflation and dwindling liquidity concerns keep investors wary of…
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…
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…