AFRICA-FX-Kenyan, Zambian, Nigerian Currencies Seen Under Pressure
The currencies of Kenya, Zambia and Nigeria are expected to come under pressure versus the…
Category: Business
Bob Diamond’s African Bank Exits Two Markets As It Enters Debt Talks
Atlas Mara Ltd., the African banking group started by former Barclays Plc Chief Executive Officer…
Nigeria To Strengthen Infrastructure Company To Boost Recovery
Nigerian state-owned Infrastructure Credit Guarantee Company plans to raise additional capital to fund critical projects…
Nigerian Central Bank Rule Leaves Cocoa Stranded At Ports
Nigerian cocoa exporters are facing long delays in shipping their goods after the central bank…
Naira May Head To N500 Against Dollar On Black Market Next Week
The foreign exchange market has been under pressure since March 2020 following a sharp drop…
Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin To Circumvent Country’s Overvalued Exchange Rate
A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians…
Nigeria Argues Over The Writing On Its Banknotes
Some say Arabic script smacks unconstitutionally of Islam. Others shrug Malcolm omirhobo is no stranger…
Nigeria Weak On Innovation Infrastructure’
THE National Centre for Technology Management (NACETEM) yesterday said Nigeria was weak on innovation stressing…
Euro Retreats After Early Gains; Swedish Crown Falls After Riksbank QE Expansion
The euro retreated on Thursday after briefly hitting a near three-month high against the dollar…
Importers, Clearing Agents Lament As Railway Contractor Stalls Cargo Evacuation At Apapa Port
Cargo evacuation at APM Terminal, Apapa , were yesterday paralysed as the contractor handling the…
Pound Near Three-Month High As Weak Dollar Counters Unease On Brexit Talks
Sterling held near a three-month high on Thursday as U.S. dollar weakness offset some of…
CBN To Banks: Cut Service Cost
THE Central Bank of Nigeria (CBN) has advises banks and other financial institutions to reduce…
Naira Hits Record Low At The Investors And Exporters Window
Nigeria’s local currency, the naira fell to a record low of 393 naira 25 kobo…
Bitcoin Plunges By Nearly $3,000 After Closing In On Its All-Time Record
LONDON — Bitcoin has plunged by close to $3,000 in less than 24 hours after…
AfDB To Set Up Agro-Finance Fund
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has disclosed that the…
#EndSARS: CACOVID To Rebuild 44 Police Stations, Donates N100bn For Arms
The Central Bank Governor, Godwin Emefiele, has said the Coalition Alliance Against COVID-19 will rehabilitate…
Dollar Losses Put On Hold But Long-Term Outlook Tilts To Downside
The dollar was on the defensive on Thursday as downbeat U.S. economic data and optimism…
Nigeria: NPA Moves To Ease Tin Can Port Traffic
The Nigerian Ports Authority, Tin Can Island Port Complex, has assured stakeholders of better traffic…
Parallel Market Accounts For 5% Of FX Market Share—CBN Governor
Mr Emefiele made this claim in Abuja on Tuesday while reacting to a question on…
Dollar In Holding Pattern But Traders Warn Of Further Declines
The dollar was on the defensive on Thursday as downbeat U.S. economic data and optimism…
Africa Looks To China, Russia To Boost Scant Vaccine Supplies
The Africa Centres for Disease Control and Prevention and the African Union have discussed Covid-19…
ABCON Blames FX Speculators For ‘Forceful Devaluation Of Naira’
Last week, the Nigerian weakened to N484/$1. It only appreciated by N1 on Monday to…
ABCON: $35.6b Foreign Reserves Enough To Defend Naira
The $35.6 billion foreign exchange reserves is enough to protect naira against attacks by currency…
Second Recession In 5 Years: Urgent Need For Robust Fiscal And Investment Policies
The GDP numbers released on Saturday (November 21) confirmed that Nigeria has officially fallen into…
Brexit – Talks Are Set To Resume By Friday As The Pound Inches Towards $1.34
Brexit talks are set to resume later this week after both sides had agreed to…
Elon Musk Overtakes Bill Gates To Become World’s Second Richest Man, Now Worth $128 Billion
Elon Musk, founder of the most sought automaker company, Tesla, has just hit a new…
Cash Cards For Kids – Digital Banks Race To Capture The Next Generation
When John Hibbs’ daughter Xanthe received her first bank card in the mail, the six-year-old…
CAMA to be implemented from January 1, says CAC
The Corporate Affairs Commission (CAC) says it will begin the implementation of Companies and Allied…
Modular Refinery As Game Changer For South-East
From the Ibigwe refinery of Waltersmith Petroman expected to be inaugurated this week, Nigeria’s five…
Biden To Name Yellen To Treasury To Lead U.S. From Sharp Economic Downturn
President-elect Joe Biden is expected to nominate former Federal Reserve Chair Janet Yellen as U.S.…