Naira Falls Big To Lowest Level Year-To-Date At Official Market- Nigeria.
The exchange rate between the naira and the US dollar closed at N422.5/$1 at the Investors and Exporters (I&E) window.…
Year: 2022
Banks reward savings accounts with 1.28%, lending hits 26.61%- Nigeria
The gap between the savings and lending rates in the banking sector widened by 25.33% in March- CBN. CBN money…
Kaduna, Rivers, 30 Others Attract Zero Foreign Investments In Q. – Nigeria.
Thirty-two states in Nigeria (Kaduna and Rivers) did not attract any foreign investments in the first quarter of 2022- PUNCH.…
180,000 Traders Lose $520 Million As Bitcoin Falls Below $25,000.
Over 180,000 traders lost approximately $520 million as Bitcoin traded below $25,000, a price point, not seen since December 2020.…
Contributory Pension Gains N640bn In Four Months, Hits N14tn- Nigeria.
Total assets under the Contributory Pension Scheme rose by N640bn in four months to N14.06tn- National Pension Commission. The funds,…
FG’s Borrowing From CBN Hits N19tn, Inflation May Worsen. – Nigeria.
The FG’s total borrowing from the Central Bank of Nigeria rose from N17.46tn in December 2021 to N19.01tn in April…
Insurance Sector Records 15.68% Growth In Q1- Nigeria.
The Nigerian insurance sector grew by 15.68% in 2022 Q1 financial period- the National Bureau of Statistics, NBS. The statement…
FG Forecasts Cocoa Production To Rise To 500,000 Tonnes By 2024- Nigeria.
Nigeria’s cocoa production is expected to increase from 340,000 tonnes to 500,000 tonnes by 2024, according to the Federal Government.…
Russia Forecasts Car Sales To Halve In 2022 – Ministry
Russia’s Industry Ministry expects car sales to halve in 2022 as the country’s automobile industry grapples with supply issues. “We…
Bloomberg Terminal Increases Crypto Coverage By Adding 40 Coins
Bloomberg has vastly expanded its coverage of the cryptocurrency markets. Following a decision to include data on the top 50…
Real Estate Firm Inaugurates N5.6bn Estate For Oil Companies- Nigeria
Real estate developers, Brains and Hammers, has inaugurated a 101-unit mixed housing development named, ‘Coopeast Beach Resort’. A statement said…
Australian Tech Billionaire Takes On Elon Musk’s ‘Return To Office’ Directive
Elon Musk got into a Twitter spat with Australia’s third-richest man on Friday. The Tesla Inc (TSLA.O) chief executive said…
Western Australia Gives Conditional Nod To Blackstone’s $6.3Billion Crown Deal
Australia’s largest casino operator Crown Resorts Ltd (CWN.AX) said on Friday regulators in the state of Western Australia had cleared…
Experts Urge Stakeholders To Practise Sustainable Insurance
The experts spoke at the maiden edition of the Chartered Insurance Institute of Nigeria’s program tagged, ‘Insurance industry parley’. The…
Mastercard Reveals New Partners For NFT Payments
Mastercard, a leading payment giant plans to use card payments to expand access to the non-fungible token (NFT) market. Raj…
Nigerian Banks Pay N7.7 Billion As Audit Fees To PwC, KPMG, EY Others In 2021.
Listed commercial banks operating in Nigeria paid an aggregate of N7.72 billion to auditing firms in 2021, which is 25.1%…
Asia Stocks Advance As Investors Weigh Impact of Hawkish Central Banks
Asia’s stocks rose on Wednesday, encouraged by a rally on Wall Street. But worries kept gains in check that aggressive…
Naira Falls To N420/$1 At I&E Window Despite Moderations At Parallel Market- Nigeria.
Tuesday, June 7th,2022: At the Investors and Exporters (I&E) window, naira and the US dollar exchange rate closed at N420.75/$1.…
Russia’s Aeroflot Plans $3 Billion Cash Injection, Said To Eye Big Jet Order.
Under heavy pressure from Western sanctions and airspace bans, Russian state flagship airline Aeroflot (AFLT.MM) plans to raise up to…
The Dollar Jumps To 20-Year High Against The Japanese Yen.
As investors build enormous positions against the Asian currency, the dollar rally has reached a 20-year high versus the yen..…
Oil Prices Advance On Low Oil Inventories Expectation
Oil prices drifted higher on Wednesday, anticipating a report of low U.S. oil stocks. While expectations of solid demand in…
Zara-Owner Inditex’s Quarterly Profit Jumps 80% On Post-COVID Wardrobe Renewal
Fashion giant Zara’s owner, Inditex (ITX.MC), reported on Wednesday that its quarterly profit jumped 80%. on the back of soaring…
Nigeria’s Imports From China Rise By 183.91%, Debts Hit $3.67bn.
Nigeria’s import from China rose by 183.91% from N530.98bn in the first quarter of 2018 to N1.51tn in Q1 2022.…
35% Of Workers Planning To Demand Pay Raise–Survey
35% of workers across the globe are planning to ask their employer for a pay raise. This will be in…
H&M, Lululemon Back $250 Million Fashion Climate Fund To Decarbonise Supply Chain.
Lululemon Athletica Inc (LULU.O) and H&M Group (HMb.ST) are among backers of a $250 million fund. Aiming to speed up…
NNPC To Pay N874bn In June As Subsidy Hits N1.82tn
Operators in the oil and gas sector and stakeholders are uncomfortable with the continued rise in Petrol. The cost of…
Pipelines Unclogged, But Canadian Crude Now Faces U.S. Gulf Coast Glut
Canadian heavy crude is finally trading like a “North American” grade, moving in tandem with U.S. sour crudes sold on…
Investors May Jostle For Nigeria’s Barite Reserves
Barite or Barytes is a naturally occurring mineral made of barium sulphate and the source of the element barium. It…
Tesla Goes Ahead With China Hiring Event After Musk Job Warning.
Tesla was proceeding with an online hiring event in China and added two dozen new job postings for the country.…
MAN Tackles CBN Over N1tn Low-Interest Loan-Nigeria.
Manufacturing companies have said they cannot access loans at the Central Bank of Nigeria’s 5% lending rate under its intervention…