Imports Surge Pushes Trade Deficit Up By 158% In H1’21
A surge in imports has resulted in over 158 percent increase in Nigeria’s trade deficit year-on-year (YoY) in the first…
Year: 2021
Troubled Naira, Untapped Remittances And Undefined Role Of BDCs
The die is cast. The official remittance market is in a battle for survival on all fronts. First, its old…
Federal Government Squanders Billions In Ports Revenue Over Stalled Boat Service Contract
The federal government is losing billions of naira in revenue over failure to engage service boat operations monitoring agents in…
UK Government Cooperate With Stakeholders On Nigeria Start-Up Bill
The United Kingdom (UK) government, through its Africa Technology and Innovation Partnership (ATIP) programme and the UK-Nigeria Tech Hub, has…
Customers Tricks Banks With Fake Visas, Tickets For Forex
The Central Bank of Nigeria has vowed to engage financial crime-fighting agencies to pursue fraudsters who have been deceiving the…
Immigration Overtake In Biden Economic Plan Dealt Setback
The Senate parliamentarian has blocked Democrats from including a plan to provide legal status to as many as 8 million…
U.K. Drops Its Market Edge As Pound Bulls Disappear
The U.K.’s supply-chain crisis, spiraling energy costs and limp economy are taking a toll on investor sentiment. Both the pound…
Bitcoin Lost As Much As 10% On Monday Morning
The price of bitcoin dropped sharply Monday as investors began shedding risk amid a global equity markets decline. While bitcoin…
Federal Government Expects $2,300 GDP Per Capita By December
The Federal Government has said that it expects Nigeria’s Gross Domestic Product per capita to rise to $2,300 by the…
Housing Market Experience It’s First Increase In Three Month
Homebuilders in the single-family construction market are feeling better, as lumber prices are way down from sky-high levels and buyer…
Nigeria Introduced ‘Guardian Rules’ For Its $9.7 Billion Funds Management Industry
Nigeria has introduced custody rules for its 4 trillion naira ($9.7 billion) fund management industry to protect investors and further…
CDC Group chooses BluePeak and Vantage Funds For First Private Credit Deals
CDC Group Plc, the UK’s development finance institution (DFI) and impact investor, said Tuesday it has made a $60 million…
Dollar Exchange At Different Rates In Lagos And Abuja
The dollar rose to between N572 and N575 in different parts of the country on Monday barely two days after…
Africa To Get 8 New Submarine Cables, To Fully Benefit From International Digital Economy
Industry players have said that Africa will get eight new submarine cables in the coming years. They also said that…
Central Bank Of Nigeria Disbursed N134.57 Billion To Agribusiness/Small and Medium Enterprise Investment Scheme
With the aim of supporting MSMEs across the country, the CBN disbursed N134.57 billion to Agribusiness/Small and Medium Enterprise Investment…
President Muhammadu Buhari Approves Board For Nigerian National Petroleum Company Limited
In his capacity as the Minister of Petroleum Resources, President Muhammadu Buhari has ordered the incorporation of the Nigerian National…
Nigeria To Acquire More Satellites Between Now And 2025
Nigeria is expected to acquire new satellites in another four years for maximum coverage of the country. This is even…
Africa Geonomics Startup “54gene” Secures $25 Million In Series B Funding
Less than 3% of genetic material used in global pharmaceutical research is from Africa. The staggering gap is quite surprising…
Cairo Based E-Commerce Start-Up Raise $33 Million In Series A Round
Funding startups that help manufacturers and sellers distribute products and merchants access them on a single platform keeps increasing across…
Afrexim Annouces Investment In A Pan-African Telecommunications Technology Group – Liquid Intelligence Technology
African Export-Import Bank (Afreximbank) has announced a minority investment by the Fund for Export Development in Africa (FEDA) into Liquid…
Africa Capitalworks Makes Equity Investment In Dorman Long Engineering Limited
Africa Capitalworks (“ACW”), a Sub-Saharan Africa-focused private equity company, announces a significant equity investment in Dorman Long Engineering Limited (“DLE”)…
Nigeria: “5G Pose No Risk To The Quality Of Human Life“ Says Experts
Experts in the Information, Communications and Technology sector have backed the Federal Government on its plan to deploy the Fifth…
Nigerian Agricultural Insurance Corporation In Talk With Central Bank Of Nigeria And Other Stakeholders On The Need For Perfect Data For Farmers
The Nigerian Agricultural Insurance Corporation has said it is discussing with the Central Bank of Nigeria and other stakeholders on…
Effort To Sell Forex To Legitimate Travelers Is Been Inundated With Fake Demands – CBN
Eight weeks after the Central Bank of Nigeria stopped selling forex to Bureau De Change operators and asked legitimate travellers…
South Africa’s Central Bank To Retain Rates At Record Low
South Africa’s central bank will keep its repo rate on hold next week as inflation remains benign but raise rates…
Oil Depreciate As Storm-Hit U.S. Supply flow Back Into Market
Oil prices fell on Friday as energy companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in…
Nigeria: Central Bank Talks Tough, No Reversal Of BDC Forex Ban
The Central Bank of Nigeria says it will not reverse its decision to ban the sales of foreign exchange to Bureaux De Change (BDCs)…
Google, Apple Eliminate Navalny App From Stores As Russian Elections Begin
Alphabet’s Google and Apple have removed jailed Kremlin critic Alexei Navalny’s tactical voting app from their stores, his team said on…
Central Bank Of Nigeria Monetary Policy Meeting Outcome
The Monetary Policy Committee of the Central Bank of Nigeria (CBN), rose from its 138th meeting on Friday, with a…
Nigeria: Lagos State Inland Revenue Service Is Ready For Value Added Tax Collection
The Lagos State Inland Revenue Service has said it is ready for Value Added Tax collection. It disclosed this in…