Real Time Financial News Website
While building the capacity of non-oil exporters is key for market penetration, the country needs a national carrier to further improve its chances of entering new markets and deepening non-oil…
The Central Bank of Nigeria (CBN) yesterday warned members of the public against fraudulent messages and videos targeted at unsuspecting loan seekers and owners of small-scale businesses purportedly facilitated by…
The dollar edged lower on Friday and was headed for a second consecutive week of losses as investors increased bets Joe Biden would win the U.S. presidency and offer fiscal…
The Central Bank of Nigeria has asked the public to beware of fraudulent loan offers and investment schemes. The acting Director, Corporate Communications, CBN, Osita Nwanisobi, said this in a…
Central banks have identified key criteria for issuing their own digital currencies in a report from the Bank of International Settlements. Digital money will have to co-exist with cash and…
The Nigerian government is working toward establishing special economic zones for solid minerals and creating a large number of employment opportunities, a top official with the Nigeria Export Processing Zones…
Time in nigeria sometimes seems to follow its own rhythm. When the government introduced petrol subsidies they were meant to last just six months. Some four decades later, they endure.…
The federal government has signed a Bilateral Air Service Agreement (BASA) with the USA, India, Morocco as well as Rwanda. Hadi Sirika, minister of aviation in his twitter handle @hadisirika…
Nigerian President Muhammadu Buhari presented a record 13.08 trillion naira ($34.4 billion) budget for 2021 to lawmakers on Thursday, an increase from last year as the country tackles the crisis…
The President, Major General Muhammadu Buhari (retd.), says Nigeria’s economy may slip back into recession. Buhari spoke at the presentation of the 2021 budget estimates to the Joint Session of…
Mr Ronke Onadeko, an expert in oil and gas, says high exchange rate of Naira to the dollar is responsible for increase in price of Premium Motor Spirit (PMS), also…
President Muhammadu Buhari has presented the 2021 budget estimate to a joint session of the National Assembly. The proposed expenditure is put at N13.08 trillion with a crude oil benchmark…
Economic experts predict that the coronavirus pandemic will result in a 4.4% contraction in the global economy in 2020. Germany’s Ifo Institute and the EconPol Europe research network polled 950…
The biggest shareholders of Nigeria’s 30 largest firms lost a whopping sum of N939 billion combined in the first half of 2020 as the COVID-19 pandemic took a toll on…
The Naira remained stable against the dollar at the I&E window on Tuesday, closing at N386/$1 Nigeria’s exchange rate at the NAFEX window remained stable against the dollar to close…
The Canadian dollar strengthened against the greenback on Wednesday as calm returned to stock markets after they were spooked one day earlier by fading hope of U.S. stimulus, with the…
Nigeria has again won another international legal battle as the United States-based International Centre for Settlement of Investment Dispute ordered Inter Ocean Oil Company to pay the federal government $660,129.87…
The dollar and safe-haven Japanese yen nursed losses on Thursday, after revived hopes for U.S. fiscal stimulus improved investor sentiment, while the prospect of negative interest rates knocked the New…
Global shipping line, Maersk resumed services from China to Onne Port (by ship) this year, and this week, it has resumed operations at the Onitsha Inland Port. This was disclosed…
European gasoline barge profit margins hit a seven-month high this week, boosted by firm export demand from West Africa and the United States and regional refinery shutdowns. Barge margins versus…
Fitch Ratings has expressed concerns about the state of the naira and rising forex demand backlog estimated at $2 billion. The forex demand backlog stood at $1 billion in May,…
Sub-Saharan Africa will probably reverse an economic contraction next year as countries in the region begin to ease movement restrictions, even as the impact of the coronavirus will endure for…
The Central Bank of Nigeria supplied $13.99bn into the market between January and June. The bank disclosed this in its quarterly statistical bulletin on ‘Supply of forex’ for the month…
Oil rose above $42 a barrel on Thursday, supported by output shutdowns in the U.S. Gulf of Mexico and the prospect of more supply losses in Norway, as well as…
A man has been arrested with 5,342 Automated Teller Machine (ATM) cards at the Aminu Kano International Airport, Kano. Sanusi Labaran was intercepted on Wednesday by Customs officials minutes before…
LONDON — Major European economies are downgrading already dire economic forecasts on the back of a second wave of coronavirus infections sweeping through the continent, with over 6.3 million cases…
Analysts at Afrinvest Securities have faulted the recent upgrade of Nigeria’s macroeconomic outlook to stable by Fitch Ratings as there were still severe foreign exchange and fiscal risks that show…
The value of the Naira against the Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market on Wednesday, October 7 was stable at N386/$1. The…
Global billionaire wealth smashed record levels during COVID-19 breaching the $10tn (£7.7tn) mark for the first time. Despite an initial dip at the beginning of 2020, speedy market recovery propelled…
Minneapolis Federal Reserve President Neel Kashkari became the latest central banker to warn against not getting more stimulus to the U.S. economy, saying that the cost of doing nothing could…