Rising Inflation In India Risks Central Bank’s Monetary Easing
The world’s worst Covid-19 outbreak in India risks fanning price pressures, threatening to limit options for the inflation-focused central bank…
Year: 2021
Will The Fed Snap The Dollar’s Recovery?
After selling off throughout the month of April, the greenback finally rebounded on the eve of the Federal Reserve’s monetary…
Nigeria, ICC Younde Forge Alliance To Tackle Piracy In Gulf Of Guinea
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Interregional Coordination Centre (ICC), Yaoundé, have forged an alliance to…
Pricey Corn Has Farmers Feeding Wheat For Humans To Livestock
China’s expanding hog herd is vacuuming up the world’s feed grains and forcing traders to dip into wheat reserves, a…
Dogecoin Price Sky Rockets After Elon Musk Calls Himself ‘The Dogefather’
The price of dogecoin has shot up after technology billionaire Elon Musk referred to himself as “The Dogefather”. The meme-inspired cryptocurrency rose from $0.25…
CBN Injects $1.47bn Into Forex Market In One Month
The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts…
African Trade Finance Outflows To Hit $5b
Constrained global financial conditions caused by COVID-19 have led to massive portfolio outflows from Africa, exceeding $5 billion in the…
Weak Fiscal Space Putting Pressure On Monetary Policy
A member of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), Prof. Mike Obadan, has said the country’s…
ECO: Strengthening Naira More Beneficial Than West African Regional Currency – Diplomat
As West African countries continue to dilly-dally on the adoption of a common currency, a former diplomat has advised the…
Banks Electronic Transfers Hit N356.47tr
The National Bureau of Statistics (NBS) yesterday said in the Fourth Quarter (Q4) 2020, total transactions recorded through Electronic Payment…
Dollar Near Multi-Week Lows Before Fed, Yen Unmoved After BOJ
The dollar hovered near multi-week lows versus major peers on Tuesday, weighed by subdued Treasury yields ahead of the Federal…
Perspectives On Diaspora Remittances
As the largest recipient of remittances in sub- Saharan Africa and indeed the seventh largest among low and middle-income countries (LMICs),…
Commercial Banks’ Loan Exposure To Government Hits N1.8 Trillion
The total commercial loans to the government, at all levels, rose to N1.77 trillion at the close of last year,…
Top Global Central Banks Close Three-Month Dollar Cash Tap
The central banks of the the euro zone, Britain, Japan and Switzerland said on Friday they would discountinue a three-month…
Bitcoin Price Crash: Half A Trillion Dollars Wiped From Crypto Market As Btc Falls Below $50k
The price of bitcoin has plummeted $15,000 from its recent all-time high, falling below $50,000 for the first time since March. The…
Nigeria Exports To Indonesia Over $700m’
Director of the Indonesian Trade Promotion Centre, Hendro Jonathan, said Nigeria exported goods worth 700 million dollars to Indonesia last…
$160m Forex Spent On Food Import In January
The country spent $160m from its foreign exchange on food importation in January according to figures obtained from the Central…
Customs Intercepts 42 Drums Of Explosives At Sango-Ota
The Federal Operations Unit (FOU), Zone A of the Nigeria Customs Service (NCS) on Wednesday intercepted 42 drums of calcium…
Nigeria Needs 300,000MW Electricity For Double-Digit Growth
The aspiration of growing the economy at a double-digit rate may remain a mirage unless electricity output increases to 300,…
China’s Booming Economy Is Fueling Alternative Yuan Trades
Optimism over China’s economy is fueling some alternative bets in the foreign-exchange market. Buy the yuan against the Singapore dollar…
Reps Probe Delay In Ports Concession, Privatisation Review
The House of Representatives has resolved to investigate the delay in the review of the agreements signed by the Federal…
Nigerians exceed IMF’s 30% dollar deposits threshold
Dollar deposit by Nigerians in banks has exceeded the 30 per cent threshold approved by International Monetary Fund (IMF), a…
UK Borrows 303 Billion Pounds In 2020/21 Financial Year
Britain’s government borrowed 303.1 billion pounds ($420.1 billion) in the financial year which ended last month, an increase of 246…
Top Forecaster Sees Aussie Rising To 85 U.S. Cents By Next Year
Australian one hundred dollar and fifty dollar banknotes are arranged for a photograph in Sydney, Australia, on Wednesday, May 23,…
Nigerian Seaports Poorly Ranked In West Africa, LCCI Laments
The Lagos Chamber of Commerce and Industry has expressed concern over the state of the country’s seaports, saying this has…
C$ Posts Biggest Gain In 10 Months As Bank Of Canada Cuts Stimulus
The Canadian dollar surged by the most since June 2020 against its U.S. counterpart on Wednesday and the Toronto stock…
Nigerians Shun Naira For Foreign Currencies To Protect Wealth
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research…
Used-Car Prices Leap On U.S. Economic Recovery, Supply Crunch
Used car prices in the U.S. are soaring. The Manheim U.S. Used Vehicle Value Index, a gauge of pricing trends,…
BDC Operators Beg CBN To Review N2/$1 Transaction Margin
Bureaux De Change (BDC) operators in Nigeria have asked the Central Bank of Nigeria (CBN) to review the transaction margin…
Dollar Ban For Wheat Purchases May Add To Nigeria Food Scarcity
Nigeria’s plans to expand restrictions on dollar access for imports to now also include sugar and wheat could worsen food…