Naira Exchange At N580 To $1
The naira exchanged to the dollar at 580 on Friday, while the Pound Sterling traded for 780 at the parallel market. Some Bureau de Change operators who spoke to our…
Brent Oil Futures Close At It Highest Level Since October 2018
The price of crude oil was up in London on Friday morning, climbing for a fourth day amid tighter supplies and a strong appetite for riskier assets like crude oil,…
Meadow Foods Register 20,000 Farmers In Two Nigerian State
Meadow Foods Nigeria Limited through its GrowIT project has announced the completion of the registration and farmland mapping of 20,000 smallholders in Adamawa and Gombe States. In a statement on…
China Intensifies Crackdown On Cryptocurrencies
Bitcoin and ethereum tumbled Friday, with traders rattled by tough talk out of China. The price of bitcoin fell 8% to $41,241, according to Coin Metrics data. Ethereum, the second-largest…
Twitter Share Soar Higher Now At $66.69 Per Share
The price of Twitter’s shares, being traded on the New York Stock Exchange (NYSE), has gained approximately 3.80% to currently stand at $66.69 per share as of the time of…
Nigeria Exchange Limited To Hold First Technovation Conference
The Nigerian Exchange Limited, formerly the Nigerian Stock Exchange, has announced that it would be holding the first Technovation conference to increase technology adoption in and deepen the Nigerian capital…
62% Of Nigeria Business Enterprises Make Use Of Mobile Banking
The National Bureau of Statistics has said that 62 per cent of enterprises use mobile banking for their business operations. The NBS said this in its report titled ‘The impact…
Taiwan government Says It’s Expanding Its Businesses In Nigeria
The Taiwan government through its trading council is currently expanding its businesses in Nigeria, the Taiwan Trade Representative in Nigeria, Andy Liu, has said. Liu, who said this on the…
Investments That Will Stand The Test Of Time – Stanbic IBTC Chief Executive
Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc, has urged Nigerians to patronise investment offerings that will stand the test of time. It emphasised the importance…
African Continental Free Trade Area To Help Grow Africa’s Gross Domestic Product
The Under Secretary General and Executive Secretary, The United Nations Economic Commission for Africa, Dr Vera Songwe, has said that the African Continental Free Trade Area stands to grow Africa’s…
Naira Continues To Maintain A Downward Trend
The naira slide to N575 on Thursday despite assurances by the Central Bank of Nigeria that there is sufficient foreign exchange to meet the legitimate needs of Nigerians. The naira…
Norge’s Bank Raise Interest Rate To 0.25%
The Norges Bank on Thursday become the first major Western central bank to raise interest rates following the onset of the coronavirus pandemic. After cutting rates three times in 2020…
Federal, States,Local Government And Agencies Shared N696.965 Billion Revenue
The Federation Accounts Allocation Committee on Wednesday said it shared a total of N696.965bn as August 2021 revenue to the Federal, States and Local Governments as well as other relevant…
Chinese Estate Share Soared High After China Evergrande Group Announcement
Hong Kong-listed shares of investment holding firm Chinese Estates surged on Thursday after the firm announced plans to potentially dispose of its entire stake in debt-ridden developer China Evergrande Group.…
Semiconductor Chip Shortage Will Affect Automotive Industry Revenue
With no end in sight this year, the ongoing semiconductor chip shortage is now expected to cost the global automotive industry an estimated $210 billion in revenue in 2021, according…
Ericsson And Unikie Collaborate To Test Automated Parking
Ericsson and industry 4.0 partner, Unikie, are collaborating to trial automated factory parking with Ericsson’s 5G standalone (SA) private network. Finnish company Unikie develops software for real-time autonomous operation and…
2020 Trade Volume Between China Nigeria Was $20bn: Chinese Ambassador to Nigeria
The Chinese Ambassador to Nigeria, Ambassador Cui Jianchun, has said that the trade volume between his country and Nigeria was $20bn in 2020 despite the coronavirus pandemic. During the period,…
Antgroup Say’s Consumer Data Fom Its Fintech Will Be Shared With China Central Bank
Ant Group will share credit data from its consumer lending business with China’s central bank as part of an overhaul of the fintech giant. Huabei is a consumer loan product…
Nigerian Content Development And Monitoring Board Set To Develop Manufacturing Hubs In Ondo State
The Nigerian Content Development and Monitoring Board has begun activities to develop an oil and gas industrial park in Ondo State under its Nigerian Oil and Gas Park Scheme. The…
Nigeria’s Equity Market Investors Lost N11.02 Billion At End Of Trading
Investors in the equities market of the Nigerian Exchange Limited – formerly Nigerian Stock Exchange lost N11.02bn at the end of trading on Wednesday as banking stocks declined for the…
Increase in Demand, Shortage Of Supply Led To Increased Price Of Cooking Gas
The management of the Nigeria LNG Limited has said that marketers do not have enough infrastructure to take up its Liquefied Petroleum Gas supply. The Independent Petroleum Marketers Association had…
Chinese Glassmaker Raise $100 Million To Fund International Expansion And Development
Chinese augmented reality (AR) glasses maker Nreal has raised $100 million to fund international expansion and develop new products. Augmented reality refers to technology that allows digital images to be…
Robinhood To Debut Feature That Gives Traders More Control Over Digital Tokens
Robinhood is debuting a feature that gives traders more control over digital tokens in its latest expansion in the cryptocurrency space. The newly public brokerage is testing “crypto wallets” with…
The New Mercedes E-Class
Weststar Associates Limited, the authorised general distributor of Mercedes-Benz in Nigeria, has announced the delivery of the new Mercedes-Benz E-Class model to showrooms across the country. A statement from the…
President Muhammadu Buhari Seek For The Amendment Of Petroleum Industry Act
President Muhammadu Buhari (retd.), has asked the Senate to amend certain provisions of the controversial Petroleum Industry Act. He was, however, silent on the contentious three percent equity share approved…
Nigeria record $18.9 billion OTC FX Futures Contracts in 2020
OTC FX Futures (OTC FX Futures) are non-deliverable forwards or contracts where parties agree to an exchange rate for a predetermined date in the future. Reviewing its performance at the…
Three Nigeria Bank Generated N75.24 Trillion From Electronic Banking Transactions
With the adoption of digital banking channels and more customers migrating to electronic banking following Covid-19 restrictions, three leading banks, Zenith Bank Plc, Access Bank Plc, and Guaranty Trust Holding…
Dangote Cement Gets New Leadership
Dangote Cement Plc has appointed Mr. Philip Mathew its new deputy group managing director and chief executive officer. According to a notice released to the Nigerian Stock Exchange, Matthew has…
DraftKings Makes $20 Billion Offer To Acquire U.K. Online Sports Betting Company
DraftKings is making a $20 billion offer to acquire U.K. online sports betting company Entain, The offer is largely in DraftKings stock, along with cash, according to the sources. Entain…