WEEKAHEAD-AFRICA-FX-Kenyan, Nigerian Currencies Seen Range-Bound
Kenya’s and Nigeria’s currencies are expected to trade within existing ranges in the coming week, analysts and traders said. Tanzania’s…
Year: 2021
Worsening Insecurity To Trigger Higher Inflation, Poverty, Says LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns about the worsening security situation in the country, stating…
Dollar Left Defenseless By Dovish Fed, Euro Muscles Higher
The dollar was on the defensive near nine-week lows on Thursday as a decidedly dovish outlook from the U.S. Federal…
FG Declares Monday Public Holiday
Minister of Interior, Rauf Aregbesola, made the declaration in a statement signed by the Permanent Secretary of the ministry, Dr.…
Turkey’s Central Banker To Weigh Up Inflation After Lira Slump
Turkey’s new central bank Governor Sahap Kavcioglu is expected to raise inflation forecasts on Thursday after his appointment unleashed a…
Nigeria Facing Extraordinary Security Challenges – US
United States Secretary of State, Antony Blinken, has described the security challenges facing Nigeria as extraordinary. He said this during…
Nigeria’s Fuel Supply Outlook Bleak Amid Forex Crisis – Report
The outlook for petroleum products supply in Nigeria is bleak as foreign exchange scarcity continues to hamper importation by private…
NCC Urges Banks, Others On Bankability Of IP Assets
Accepting Intellectual Property (IP) as collateral assets will go a long way to support Small and Medium-Sized Enterprises (SMEs) in…
Oil Holds Gains Near Six-Week High On Rising Demand Optimism
Oil was steady near a six-week high as signs of strengthening demand in key markets offset concerns a Covid-19 resurgence…
Government Money Seen Powering U.S. Economy In First Quarter
U.S. economic growth likely accelerated in the first quarter, fueled by massive government aid to households and businesses, charting the…
Oil Prices Extend Gains As Bullish Demand Outlook Outweighs India Concerns
Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer…
Nigeria Lawmakers Expand Powers Of Firm Buying Banks’ Bad Debts
Nigerian senate passed a bill that strengthened the power of state-owned Asset Management Corp. of Nigeria to recover bad loans…
CBN Urged To Constitute Special Tribunal On Resolution Of Islamic Banking Issues
A former member of the Central Bank of Nigeria’s (CBN) Financial Regulation Advisory Council of Experts and now a professor…
HSBC Says Bank Of England To ‘Taper’ In May
HSBC have become the latest UK lender to predict the Bank of England will begin the process of tightening UK monetary conditions at…
Nigeria’s Bitumen Reserves Hit 42 Billion Barrels
Bitumen reserves in the country have grown to about 42 billion barrels out of which 43 industrial chemicals, including heavy…
Biden To Unveil $1.8 Trillion Plan For Children And Families – Here’s What’s In It
President Joe Biden on Wednesday will pitch Congress on $1.8 trillion in new spending and tax credits aimed toward children,…
Dollar Pins Hopes On Fed, Biden For Ending Month-Long Decline
The dollar is set to take its cues from the U.S. Federal Reserve’s policy statement and a speech by President…
Reps Ask CBN To Suspend Deadline For MFBs Recapitalisation
A day to the expiration of the deadline given by the Central Bank of Nigeria (CBN) to microfinance banks (MFBs)…
Uncertainty Envelops States As Revenue Tumbles
Nigeria’s over-reliance on oil as its major source of revenue and failure of successive administrations to build new or repair…
Nigeria, Six Others Account For 65% Global Gas Flaring – World Bank
The World Bank on Wednesday said Nigeria and six other countries were responsible for two-thirds of global gas flaring. It…
Decline In FX Demand Fortifies Naira By 0.10% At I&E
The Naira closed stronger against the United States Dollar at the Investors and Exporters (I&E) window of the foreign exchange…
FG Grants Approval For $2.9bn Escravos Seaport
The Federal Government has granted approval for the establishment of the Escravos Seaport Industrial Complex, ESIC, to Mercury Marine Concession…
The Great Exit: Central Banks Line Up To Taper Emergency Stimulus
The Bank of Canada set the taper ball rolling last week, becoming the first major central bank to cut back…
Senate Passes Amended AMCON Bill, Okays Seizure Of Debtors’ Assets
The Senate, on Wednesday, passed the Asset Management Corporation of Nigeria Amendment bill. The passage of the bill followed the…
Alternative Seaports, Solution To Gridlock – Lagos Govt
Lagos State Government, yesterday, expressed dissatisfaction over the current traffic congestion in Apapa and its environs, despite the introduction of…
‘Banks Pumped N4.56tr Into Economy In One Year’
Banks have injected N4.56 trillion into the economy as loans through private sector operators in the last 12 months, a…
Nigeria Can`T Afford Another Civil War – Osinbajo
Vice President Yemi Osinbajo, says Nigeria cannot afford another civil war because it will not augur well for the country.…
UPDATE 1-Bank Of Canada Says It Is Expecting Strong Growth In Second Half Of 2021
The Bank of Canada is expecting strong consumption-led growth in the second half of the year as vaccinations against COVID-19…
Oil Prices Steady As Rising Demand Outlook Tempered By COVID Worries
Oil prices were steady on Wednesday as support coming from forecasts of a recovery in global fuel demand was tempered…
How Palladium Became A Really, Really Precious Metal
Palladium is the most valuable of the four major precious metals, with an acute shortage driving prices to records in…