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…
Category: Business
NLNG Describes Nigeria’s Cooking Gas Shortage, Price Hike
YET another indication of Nigerian health workers’ discontent with the increasingly inclement working climate in the country was provided last…
Dollar Near A Month High As Investors Concentrated On Evergrande Risks
The dollar held below a near one-month high on Wednesday as investors focused on two key risks — a default…
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,…
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…
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,…
Oil Climb By 1% As US Hurricane Aftermath Tightens Supply
Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global…
Bitcoin Falls Below $40,000 Among Regulatory Drumbeat, Fed Risk
Bitcoin struggled for a third day, dropping briefly below $40,000 for the first time since August amid rising criticism from…
BP Oil Trader Pronounced To Be Fired Over Nigeria Bribe Concerns
BP Plc fired an ex-oil trader because he voiced concerns about bribes being paid in Nigeria to secure local contracts, according…
AT&T CEO Says He Is Dissatisfied About Company’s Bran
AT&T CEO John Stankey said he’s unhappy with his company’s brand and plans to refresh the wireless carrier’s image in…
Merchants And Business Outlets Must Accept E-Naira As A Form Of Payment
The Central Bank of Nigeria says the e-naira which is set to be launched on October 1 is a legal…
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…
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…
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…
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…
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…
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)…
U.S. Examine Possible Insider Trading At Binance
U.S. officials are examining possible insider trading and market manipulation at Binance, Bloomberg News reported on Friday, potentially adding more…
Wall Street Closes Roller-Coaster Week Sharply Beneath
U.S. stocks ended sharply lower in a broad sell-off on Friday, ending a week buffeted by strong economic data, corporate…
World Bank China Rigging Scandal Flutters Investors
Some investors and campaigners expressed dismay on Friday at revelations that World Bank leaders pressured staff to boost China’s score…
Pound Hang Back In Face Of Early BoE Hike
Although markets have become increasingly aggressive in pricing a UK interest rate rise as soon as next May – several…