Real Time Financial News Website
Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva on Tuesday said he believes the nation’s refineries have the capability to function optimally due to the deregulation of the oil…
Importers have decried the high cost of importing goods through the seaports. Many importers, investigation has shown, have abandoned their cargoes at the ports because of high exchange rate and…
The US dollar slide has entered early stages of what looks to be a sharp descent, having already fallen by 4.3 per cent in the four months ending in August…
Dike Onwuamaeze writes on the impact of the Central Bank of Nigeria’s development finance initiatives The swift and massive shock of the coronavirus pandemic and shutdown measures to contain it…
A planned new West African currency to replace the France-backed CFA franc this year has been derailed by the coronavirus pandemic and its launch could now be up to five…
Earlier in the Day: It’s was a busier start to the day on the economic calendar this morning. The Japanese Yen was in action in the early part of the…
SINGAPORE — Investors should be putting their money in gold now, as it represents a “very good hedge” ahead of risk events such as the U.S. election, UBS Global Wealth…
The Minister of Mines and Steel Development, Olamilekan Adegbite, has said that the ministry is working on law to make it illegal to export minerals without adding value to them.…
Minister of Petroleum Resources, Timipre Silva has debunked reports that the new Petroleum Industry Bill (PIB) does not accommodate the existence of the Nigerian National Petroleum Corporation (NNPC). The Minister…
Forex liquidity by 57% as Nigeria’s exchange rate at the NAFEX window remained stable to close at N386/$1 during intraday trading on Monday, September 28. Also, the naira remained stable…
Oil prices dropped on Tuesday, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new U.S. stimulus package that…
The Central Bank of Nigeria (CBN) is devising strategies through its various intervention programmes to rein the COVID-19 pandemic’s impact on the economy and the threat of an impending recession,…
The dollar was down on Tuesday morning in Asia, as the U.S. presidential debate and developments on the latest U.S. stimulus measures continue to remain in the spotlight. The U.S.…
The argument that all Bureaux De Change (BDCs) operators are the weakest link in the fight against illicit financial flow may not hold water after all. For one, the BDC…
The Vice-President, Prof. Yemi Osinbajo, has urged leaders of destination countries to insist on repatriation of illicit funds and their proceeds. This was contained in a statement from the Senior…
Nigeria’s foreign exchange reserves suffered its first decline in recent weeks at the weekend as dreary global crude oil prices, dollar recovery and domestic pressure on the controlled exchange rate…
At negative 6.1% gross domestic product (GDP), economic managers have a lot of work to do to save the country from the greatest recession ever. The very high rate of…
The British pound rose more than 1% on Monday on hopes that Britain could secure a Brexit trade deal with the European Union by October or at least avoid a…
The Managing Director of the Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji has disclosed that the ongoing construction of the Second Niger Bridge has achieved a completion rate of…
The access, impact and prospects of the intervention funds by the Central Bank of Nigeria (CBN) formed the basis of discussion at a recent webinar organised by the CRC Credit…
Stunned by the decision of the Central Bank of Nigeria (CBN) to cut the benchmark interest rate,bewildered investors dumped fixed-income instruments and rushed to the equities market, pushing equities to…
Nigeria’s long-awaited oil reform bill would privatise the Nigerian National Petroleum Company, amend changes to deepwater royalties made late last year and scrap key regulatory agencies in favour of new…
Ughelli — The member representing Ughelli North, Ughelli South and Udu federal constituency in the House of Representatives, Hon. Francis Waive has lamented the economic state of the country stressing…
Just when they thought they had rebalanced the oil market, OPEC members were served an unpleasant surprise from exempted fellow Libya. The country’s warring factions reached a ceasefire, and some…
The dollar hovered near a two-month peak against a basket of currencies on Monday as doubts about economic recovery persisted before a barrage of economic data and political developments in…
The monumental Tesla Battery Day last week clearly wasn’t as monumental for some as they had expected. The day after the much-anticipated event, Tesla shares dropped by nearly 10%. This…
The British pound soared more than 1% on Monday on hopes that Britain could secure a Brexit trade deal with the European Union by October or at least avoid a…
Thousands of EU nationals could face problems accessing essential services because the government is refusing to issue physical proof of their right to live in the UK. The settlement scheme…
The Bureaux De Change Operators (BDCS) sector has for decades, remained a critical component of the Nigerian financial market playing pivotal role in exchange rate stability and job creation. The…
GUANGZHOU, China — The U.S. government has reportedly imposed restrictions on exports to SMIC, China’s biggest chip manufacturer, a move that threatens Beijing’s push to become more self-reliant in one…