Nigerian Banks To Limit Debit Card Spending Abroad To Ease FX Risk
Nigerian banks plan to reduce the amount customers can spend abroad using debit cards on Monday, two lenders said, as…
Author: Ekemini
Where’s Crude Heading? Morgan Stanley Says To Watch The Oil-Gold Ratio
“The oil-gold ratio has historically been a poor indicator of future oil prices,” Morgan Stanley’s Martijn Rats and Amy Sergeant…
Nigeria’s Revenues Rise In June On Higher Oil, Tax Receipts
Nigeria’s gross revenues rose to 653.35 billion naira ($1.7 billion) in June from 517.8 billion naira in May due to…
Nigeria: Anxiety As Forex Scarcity Hit Banks
Indications are that most deposit money banks (DMBs) operating in the country are practically struggling to meet daily demands of…
Nigeria: Waiting on the Revised Petroleum Industry Bill
The much-sought sanity in the petroleum industry may soon be found if the promise by the federal government to transmit…
Nigeria: NNPC Suffers 47% Drop In Petrol Sales Revenue
The Nigerian National Petroleum Corporation saw its revenue from petrol sales plunge by 47.38 per cent to N107.61bn in April…
UAE Impounds Aircraft Operated By Nigerian Airline Over Safety Violations
Civil aviation authorities in the United Arab Emirates have impounded a private jet operated by a Nigerian airline (name withheld)…
Untold Magical Treasures Of Northern Nigeria
Way before the name ‘Nigeria’ was chosen, in the period that saw the rise and reign of powerful empires and kingdoms, the…
Nigeria: No More Hiding Place for Loan Defaulters
Individuals and companies, who have the habit of borrowing from banks, with the intention of not paying back, may now…
Nigeria Border Closure: Unsold Inventory Fell By N23.73b In 2019-MAN
The border closure may have been a blessing in disguise as local manufacturers reaped bountifully with many consumers patronising made-in-Nigeria…
Covid-19: Lagosians Groan As Prices Of Foodstuffs, Rent Soar
RESIDENTS of Lagos State may have to devise ingenious means of grappling with the economic impacts of the COVID-19 pandemic…
Nigeria: Women To Get 60% Of N220bn SME Fund – CBN
The Central Bank of Nigeria has said that women will be given 60 per cent of the N220bn Micro, Small…
How Did Nigeria’s Treasury Bills Drop From 18% to 3% in 3 Years?
How did Nigeria’s treasury bills drop from 18% to 3% in the last three years and why earnings on savings,…
134 Nigerians Stranded In Sudan Arrive In Abuja
134 Nigerians who had been stranded in Sudan have returned to the country. They arrived at the Nnamdi Azikiwe International…
Nigerian Port Authority (NPA) Driving Seaport Operations
During COVID-19 The Nigerian Ports Authority, (NPA), while overseeing the general seaport operation by private port operators, have had to…
Dollar Falls, Euro Hovers At Four-Month High As EU Negotiates Rescue Fund
The dollar was broadly lower on Friday as the euro rose to just under a four-month high, with negotiations underway…
US Opens Borders For Students, Academics And Businesspersons From Schengen Area, Ireland & UK
In an unprecedented move, the United States has decided to open the borders for certain business travellers, investors, treaty traders,…
The End Of The Arab World’s Oil Age Is Nigh
Their budgets don’t add up anymore. Algeria needs the price of Brent crude, an international benchmark for oil, to rise to…
Nigeria:Third Mainland Bridge Alternative Routes Ready, Says LASG
The Lagos State Government has announced that rehabilitation of alternative routes to be used during the closure of the Third…
Portugal Fines Airlines And Passengers Arriving Without Negative COVID-19 Test Results
Portugal’s government is fining anyone arriving in the country from the United States, non- European Union/non-Schengen zone countries who don’t…
Multi-Nationals Finally Recognise Value Of Local Currency Funding
Multi-National organisations, which have long relied on the US-dollar or euro-based funding when doing business in Africa, are increasingly adding…
Stolen Kuwaiti Money in Beverly Hills ‘Mountain,’ U.S. Says
U.S. prosecutors said money misappropriated from the Kuwaiti Ministry of Defense was used to invest in a Beverly Hills, California,…
Cautious Optimism On Crucial EU Summit Lifts Euro
The euro was heading for four-month highs on hopes a European Union summit will make progress on a recovery fund…
Zimbabwe Accuses ECONET Wireless Of Money Laundering
Zimbabwean police have accused the country’s largest telecom operator ECONET Wireless of money laundering. They have thus issued a warrant…
EXPLAINER: How The Policy On Settling Loan Defaults With Funds In Other Banks Will Work
The Central Bank of Nigeria (CBN), on Monday, released a policy that would allow banks to settle loan defaults with…
Global Air Passenger Slump To Last Until 2023
Global airline passenger demand won’t recover to pre-coronavirus pandemic levels until the end of 2023, and only then if effective…
Foreign Reserves Drop To $36.12bn
The country’s foreign reserves fell by $454.05m from $36.57bn on June 1 to $36.12bn on July 15, the latest figures…
FG Arranges 3 More Evacuation Flights From U.S.
The Federal Government has arranged three more flights to evacuate Nigerians stranded in the United States due to the coronavirus…
Tyrese Haspil charged with murdering tech CEO Fahim Saleh
The executive assistant to tech CEO and investor Fahim Saleh was charged Friday with second-degree murder in his boss’s grisly slaying and dismemberment,…
NDIC Seeks To Hold Directors Accountable For Bank Failures
The Nigeria Deposit Insurance Corporation has sought a legal backing from the National Assembly to enable it to hold directors…