EXCLUSIVE: How Amaechi, Hadiza Usman Clashed Over Multibillion Naira NPA Contracts
Months before her suspension last week, the Managing Director of the Nigerian Ports Authority (NPA), Hadiza Usman, repeatedly faced off with…
Category: Business
The Chinese Digital Currency Is Moving Forward – Will The US Follow?
As far as early adopters go, the People’s Bank of China (PBOC) has become the first major central bank to…
CBN-Directed Board Changes At First Bank Of Nigeria And FBN Holdings Plc Address Governance Issues
S&P Global Ratings said that changes to the boards of First Bank of Nigeria Ltd. (FBN; B-/Stable/B) and FBN Holdings PLC (FBNH;…
NSIA Assets Grow By N193b As Investment In Foreign Assets Appreciates
The Nigeria Sovereign Investment Authority (NSIA), yesterday, hinted that its net assets grew by N193.21billion in 2020, representing a 33…
Yuan Eases As FX Demand For Dividend Payments Kicks In
“The PBOC’s Q1 monetary policy report suggests that the central bank is not worried about imported inflation, despite that it…
Euro Zone To Rebound More Strongly, Borrowing Curbs To Stay On Hold -EU
The euro zone economy will rebound from its COVID-19 slump more strongly than previously thought this year and next, the…
Currencies Tumble As Stocks Erase Gains
What started off as a strong day for risk appetite turned into losses for currencies and equities. The Dow Jones…
FG Action On Nigerian Traders In Ghana Excites MATAN
The Market Traders Association of Nigeria (MATAN) has expressed delight on steps taken by the Federal Government to address the…
Glo Begins Reactivation Of SIM Cards
Globacom on Tuesday announced the recommencement of SIM card activation at its service outlets across Nigeria. This is coming after…
$153 Million, 80 Houses Recovered From Diezani —EFCC Boss
The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has disclosed that the commission has recovered $153 million…
Nigeria’s Diaspora Remittances To Hit $22bn – Report
Nigeria’s diaspora remittances have been projected to rise by five per cent to $22bn by the end of 2021. Agusto…
Forex-Commodity Currencies Hold Advantage As Dollar Waits For Inflation And Fed
The dollar nursed losses against the currencies of major commodity exporters which enjoyed support from expectations for further gains in…
CBN: Manufacturing Sector Vital To Economy
THE manufacturing sector plays an important role in the country’s economy and will continue to do so in every economy, the…
Pipeline Outage Causes U.S. Gasoline Supply Crunch, Panic Buying
Gas stations from Florida to Virginia began running dry and prices at the pump rose on Tuesday, as the shutdown…
DPR Pledges To Complete First Floating LNG Production Plant
The Department of Petroleum Resources (DPR) has pledged support to the completion of Nigeria’s first floating Liquefied Natural Gas (LNG)…
CBN Action Won’t Affect FBN Holdings Asset Quality, Profitability—Fitch
Fitch Ratings has disclosed that the removal of the non-executive board members of FBN Holdings Plc and First Bank of…
Stock Market Reopens Upbeat As Capitalisation Rises By N60 Billion
Following gains recorded by most blue chip stocks, the Nigerian Exchange Limited (NGX) reopened in uptrend yesterday, as market capitalisation…
Pound Up Against Dollar And Euro Amid Hopes For Strong UK Recovery
Analysts say SNP’s failure to achieve overall majority in Scottish elections also a factor in highest level against dollar since…
Pound Rallies Over $1.41 To Highest Since February
The pound has surged on the foreign exchange markets today, thanks to a cocktail of economic optimism and fading political…
Nigerian Mid-Crop Cocoa Output Seen Rising – Cocoa Association
Nigeria’s mid-crop cocoa output is expected to rise following higher than expected rainfall which hashelped boost output for the 2020/21…
Gas Flaring Declined In 2020, Study Finds
LAGOS, Nigeria — Gas flaring worldwide decreased by 5 percent in the pandemic year, mostly because of lower demand for…
Nigeria’s Mutual Funds Rose To N1.6tn In 2020 – Coronation Asset
Funds reporting needs to be harmonised as Nigeria’s mutual funds rose to N1.6tn as of the end of 2020, Coronation…
Pipeline Outage forces airlines to find other ways of getting fuel
The cyberattack that forced the shutdown of the country’s largest refined fuel-products pipeline over the weekend has sparked some routing changes for American…
Cloud stocks plunge to six-month low as investors hasten rotation out of recent top performers
The rotation out of tech stocks continues to hammer cloud companies the hardest, as investors sell out of last year’s…
Citi downgrades Facebook and Google, says ad market expectations are too bullish
The growth trajectory for the online advertising market doesn’t appear to be strong enough to drive more gains for two…
Shares of The Trade Desk close down 26% after company reports earnings and upcoming stock split
Shares of ad tech company The Trade Desk closed down nearly 26% on Monday after the company reported first-quarter earnings and a 10-for-1 stock…
NTSB releases preliminary report on fatal Tesla crash in Spring, Texas
The National Transportation Safety Board, a federal agency that investigates accidents, has released records from a preliminary probe of a fatal Tesla…
Goldman says these are the biggest threats to the dominant 5 tech stocks
The so-called FAAMG stocks — Facebook, Apple, Amazon, Microsoft, and Google-parent Alphabet — have evolved into dominant juggernauts in the market, but Goldman Sachs is warning…
These cybersecurity stocks could benefit from the Colonial pipeline attack, says Goldman
The cyberattack that knocked a key U.S. gas pipeline offline should be another positive for the stocks in growing cybersecurity industry, Goldman…
More than 40 attorneys general ask Facebook to abandon plans to build Instagram for kids
Attorneys general from 44 states and territories urged Facebook to abandon its plans to create an Instagram service for kids under the…