Nigeria’s Growing Inflation Rate
The current rate of inflation in Nigeria, according to the National Bureau of Statistics, rose to 13.22 per cent in August 2020, highest in 29 months, since March 2018. This…
Dow Futures Surge More Than 300 Points Following A 4-Week Losing Streak
Stock futures jumped in early trading on Monday following a four-week losing streak on Wall Street. Futures on the Dow Jones Industrial Average pointed to an opening gain of more…
FMDQ Turnover Sheds N4.5tn In August
Investments at the Fixed Income and Currency (FIC) markets suffered a setback in the month of August as investors reduced their stakes to the tune of N4.46trillion, representing a 23.8…
ECB’s Visco Says Euro’s Strength Is A Worry
A recent strengthening in the euro’s exchange rate is a worry and will warrant a reaction from the European Central Bank if it drags inflation farther away from its goal,…
Productions From Ogbele Marginal Field Hit 19m Barrels, 90bscf Of Gas
Ogbele marginal field, located in oil mining lease (OML) 54, in Rivers State, is Nigeria’s first marginal fields to produce oil and gas in 2005. It is also the first…
New York Times: Trump Paid No Income Taxes In 10 Of Past 15 Years Beginning In 2000
Washington (CNN)Donald Trump paid no income taxes whatsoever in 10 of the past 15 years beginning in 2000 because he reported losing significantly more than he made, according to an…
Treasury Yields Higher As Investors Monitor Coronavirus, Political Developments
U.S. government debt prices were lower on Monday as investors monitored rising coronavirus cases and political developments. The yield on the benchmark 10-year Treasury note rose to 0.66%, while the…
Treasury Yields Fall Slightly After Worse-Than-Expected Economic Data
Treasury yields dipped on Friday as traders digested more disappointing economic data. The yield on the benchmark 10-year Treasury note fell about 1 basis point to trade at 0.654%. The…
European Stocks Close Lower After Choppy Session; Down 3.7% On The Week
European stocks closed lower on Friday amid a choppy trading session as investors continued to monitor coronavirus developments and the prospects of economic recovery. TICKERCOMPANYNAMEPRICECHANGE%CHANGEVOLUME.FTSEFTSE 100FTSE5842.6719.890.34742745791.GDAXIDAXDAX12469.20-137.37-1.0966129927.FCHICAC 40 IndexCAC4729.66-32.96-0.6996957872 The pan-European…
Chinese Government Debt Added To Key Bond Index
Chinese government debt is set to be included on a key global bonds index, which could see tens of billions of dollars of foreign investment in the country’s increasingly internationalised…
Onne: ‘Customs ’Ll Meet N11b Monthly Target’
The new Customs Area Controller in Port Harcourt Area ll Command Onne, Rivers State, Comptroller Auwal Baba Mohammed, is optimistic of meeting the Command’s monthly target of N11 billion. “This…
It’s Not In NNPC’s Interest To Remain Sole Importer Of Petrol, Says Mele Kyari
The Nigerian National Petroleum Corporation (NNPC), has said that it was not in the national oil company’s interest to remain the only importer of petroleum products into the country. The…
LNG Has Come Far But Still Has Far To Go
The LNG industry has become increasingly diverse in the past 20 years. But it must not rest on its laurels and still has progress to make, says Tolu Longe, production…
Canadian Dollar Sees Biggest Weekly Drop In Five Months As Economic Risk Climbs
The Canadian dollar weakened to a seven-week low against its U.S. counterpart on Friday as rising economic and political uncertainties raised demand for safe-haven currencies, with the loonie losing ground…
Credit Bureau Expresses Concern On Dwindling Access To Funds
The Credit Bureau Association of Nigeria (CBAN), has expressed concerns over the dwindling credit penetration for consumers in Nigeria, even as data released by credit bureaus show that fewer than…
PM Asks ‘Tax Havens’ To Return Stolen Wealth Of Poor Countries
Prime Minister Imran Khan, while stressing the need of strengthening international cooperation to bring perpetrators of financial crime to justice, Thursday said the world community must take decisive actions, including…
Nigerian Collecting Illegal $36,000/Month From Ship Owners
The Minister of Transportation, Rotimi Amaechi, has registered his displeasure with continuous patronage of illegal habours known as secure anchorage areas. According to the minister, an individual has sought to…
Pound Fights Back As U.K. Readies New Measures To Support Recovery
Investing.com – The pound found its footing against the dollar Thursday, after the U.K. unveiled fresh measures to protect jobs and businesses that helped ease fears about the impact of…
An In-Depth Analysis On Mining In Nigeria
The economy in Nigeria has been growing slowly since the oil price slump of 2014. Since then, volatility of global oil prices has negatively impacted growth performance. Between 2000 and…
Protesters At Nigerian Embassy Call For Foreign Nationals To ‘Go Back Home’
The Nigerian High Commissioner to South Africa Kabiru Bala stood his ground on Wednesday refusing to accept that all his compatriots living in the country were criminals, after a small…
Nigerian Oil, Gas Suppliers Lament N320bn Loss, Back Deregulation
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) yesterday bemoaned its huge losses to the tune of N320 billion as a result of the control of the prices…
Naira Stabilizes Across Forex Markets, As BDCs Get Another Round Of Dollar Allocation
Forex turnover improved by 43% as Nigeria’s exchange rate at the NAFEX window stablized to close at N386/$1 during intraday trading on Thursday, September 24. Also, the naira remained stable,…
Survival Fund: Nigerian Govt Speaks On Applicants Paying Facilitation Fee For MSMEs Grant
The Federal Government says applicants will not pay any ‘facilitation fee’ to access its intervention grant for Micro, Small and Medium Enterprises (MSMEs), and cautions unsuspecting applicants against fraudsters. Mrs…
EFCC Recovers Unremitted N4.16b From Lottery Firms
The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mohammed Abba, said yesterday the commission recovered over N4.16 billion unremitted revenue from lottery companies. He said this while…
Govt Committed To Elimination Of Gas Flaring By 2021 – Sylva
Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Federal Government is committed to ensuring the elimination of gas flaring from Nigeria’s oil and gas fields by 2021.…
Dollar Off Two-Month Peak But On Course For Best Week In Six Months
The U.S. dollar dipped from a two-month peak on Friday as renewed hopes of fresh U.S. stimulus eased investors’ concerns about its economic recovery, while the Chinese yuan gained after…
NEPC: Nigeria Can Earn Forex From Mushroom
The Nigerian Export Promotion Council (NEPC) yesterday said the country could significantly improve on its foreign exchange (forex) through investment in mushroom production. Its Executive Director, Mr Olusegun Awolowo, who…
Accelerating Bitcoin Trading In Nigeria
One of the more remarkable instruments of freedom and prosperity that has emerged over the last two decades is the internet. It has shrunk our planet by connecting humans across…
FX Crunch: Anger, Frustration As Banks Ration Dollar Among Customers
Nigerian banks are now rationing forex withdrawals by customers, TheCable can report. The economy has suffered a double blow from the COVID-19 pandemic and low oil prices, leading to little…
CBN Pulls Rate Cut Trigger, King Dollar Returns
In a move that caught investors off-guard this week, the Central Bank of Nigeria (CBN) slashed interest rates by 100 basis points bringing the MPR to 11.5%. Given how inflation…