Dollar Shortage, Subsidy, Deficit Financing Threatening Nigeria’s Growth – W’Bank
The World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage,…
Month: November 2021
CBN Disburses N41.2bn To Cut Wheat Imports
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said the bank has disbursed N41.2bn under its intervention…
Apple Sues Israeli Spyware Maker NSO Group Over IPhone Attacks
Apple is suing Israeli spyware firm NSO Group and its parent company for allegedly targeting iPhone users with a hacking…
First Bank Too Big To Be Owned By One Person — CBN
The Central Bank of Nigeria (CBN) has said that it would be guided by the decision of the Securities and…
SEC Approves MTN Offer For Sale Of 575 Million Shares
MTN Nigeria Communications Plc has obtained the approval of the Securities and Exchange Commission for the offer for sale of…
India Announces Bill To Ban Cryptocurrencies
India’s government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money,…
US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices
The US has said it is releasing 50 million barrels of oil from its reserves in an attempt to bring…
Stock Trading Volume Drops, Market Cap Stalls At N22.58tn
The market capitalisation of stocks listed on the Nigerian Exchange Limited remained unchanged at the end of trading on Tuesday…
BREAKING: CBN Retains Lending Rate At 11.5%
The Monetary Policy Committee of the Central Bank of Nigeria has left the Monetary Policy Rate unchanged at 11.5 per…
Railway: 24 Firms Jostle For E-Ticketing Contract
No fewer than 24 companies have bidded for the electronic ticketing solutions for the Lagos-Ibadan and the Warri-Itakpe train services. …
Musk Chides Binance CEO On Dogecoin Glitch
Tesla founder Elon Musk on Tuesday delivered a stinging rebuke to Binance Chief Executive Changpeng Zhao on Twitter after the…
Asia Stocks Fall, Dollar Firm On U.S. Rate Hike Bets After Powell’s Renomination
Asia stocks faltered on Tuesday, tracking a retreat on Wall Street as traders bolstered their bets on U.S. rate hikes…
Citigroup To Create 100 Roles In Digital Asset Push
Citigroup is looking to create 100 roles focused on digital assets including blockchain and digital currencies at its institutional division,…
ENaira’ll Work With Other Countries’ Digital Currencies – CBN
The Central Bank of Nigeria has said that the implementation of the country’s digital currency will be done in four…
Pokemon Go Creator Niantic Valued At $9 Bln After Coatue’s Investment
Niantic Inc, the augmented reality (AR) platform behind Pokemon Go, raised $300 million from hedge fund Coatue at a valuation…
Zoom Shares Fall After Results As Wall Street Turns Cautious On Growth
Zoom Video Communications Inc’s third-quarter revenue growth rate slowed to 35% as demand for its video-conferencing tools eased from the…
Italy’s Antitrust Fines Amazon, Apple More Than 200 Mln Euros For Alleged Collusion
Italy’s antitrust authority has fined U.S. tech giants Amazon and Apple a total of more than 200 million euros ($225…
Chinese Tech Giant NetEase Launches $500 Million Hong Kong IPO For Its Music Business
NetEase has launched the Hong Kong initial public offering (IPO) of its music business Cloud Village which could raise around…
Dismantle Trade Barriers To Grow Africa’s Economy, Dangote Urges Leaders
African leaders have been urged to dismantle trade barriers stifling their individual countries, in a bid to ensure smooth flow…
Capital Inflow Crashes By 80%, Foreign Investors Shun Nigerian Market
Capital inflow to Nigeria has crashed by 80 per cent in two years, the Central Bank of Nigeria reports have…
Naira Loses Steam, Sides To 555/Dollar In Parallel Market
The naira lost steam at the parallel market on Monday, sliding to 555 per dollar. The local currency had crashed…
Powell Tapped For Second Term As Fed Chair
Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden on Monday, extending a…
FMN, Honeywell Flour Mills Merge Under N80billion Shares Transfer Deal
Flour Mills of Nigeria Plc (FMN) and Honeywell Group Limited On Monday announced that they have signed an agreement for…
Illiquidity: BMBs, Merchant Banks Borrow N215.7bn From CBN In One Week
Following scarcity of liquidity in the interbank money market, banks and merchant banks borrowed N215.7billion from Central Bank of Nigeria…
Forex Row Threatens Fuel Supply, Price Stability
The lingering row between private depot owners and the Federal Government over dollar payment of dues and levies is set…
OPEC+ Exceeded Quota By 116% In October As Nigeria, Angola Underperformed
The compliance by members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies known as OPEC Plus (OPEC+)…
KKR Buyout Offer Sends Telecom Italia Shares Surging 27%
Telecom Italia shares jumped more than 27% on Monday morning after U.S. private equity giant KKR launched a 10.8 billion…
Leadway Pensure’s Shares In First Bank Belong To RSA Holders – PenCom
Funds invested in First Bank Holdings Ltd (FBNH) by Leadway Pensure Ltd belong to retirement savings account (RSA) holders, the…
South African Airways To Resume Lagos Flights December — After 18-Month Suspension
South African Airways (SAA) has announced the resumption of flight operations on its Johannesburg-Lagos route. The airline had suspended commercial…
Naira Falls By 2.8% To N545/$1 At Parallel Market
The naira, on Friday, depreciated against the dollar at the parallel section of the foreign exchange market. Bureaux De Change…