Real Time Financial News Website
Digital financial services are both broadening and speeding up financial inclusion in many African countries – a key factor in accelerating economic growth. In this study, Rafiq Raji looks at…
Oil prices edged up on Wednesday after a steep drop in U.S. crude inventories, but another record day for COVID-19 cases worldwide kept gains in check. Brent crude futures gained…
Sterling Bank Plc has reiterated the need to educate exporters and importers of goods on how to manage the changes created by the COVID-19 pandemic in accessing foreign exchange for…
The gold market is “very strong and could hit $3,500 in two years,” according to Barry Dawes of Martin Place Securities. Garth Bregman of BNP Paribas Wealth Management said he…
Many African nations are not borrowing as much as those in developed markets, but are charged at much higher rates for debt due to demand for higher risk premiums from…
The OPEC-Nigeria Bilateral Meeting that took place last week has sent yet another signal of the strong dialogue and cooperation between OPEC and Africa’s biggest producing country. Such a dialogue…
Sterling benefited as the dollar weakened, rising 0.3%, but was flat against the euro on Wednesday, as the impression grew that the rest of the world was handling the coronavirus…
The Central Bank of Nigeria (CBN) has been holding on to N900 billion of lenders’ deposits as Cash Reserve Ration (CRR) since January. By the CRR policy, banks have a…
Nigeria is awaiting the return of $200m from the Netherlands and Switzerland from the Oil Prospecting Licence 245 deal, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami,…
Banks’ non-performing loans stood at N1.2tn as of the end of June according to figures obtained from the Central Bank of Nigeria on Monday. This amounted to about 6.4 per…
Nigeria’s dollar shortage is worsening, with the local currency weakening in the parallel market and banks restricting the ability of customers to spend greenbacks abroad using naira cards. The naira’s…
The dollar tumbled to an almost two-year low against the euro on Monday on concerns about a growing number of coronavirus cases in the United States, and before the Federal…
Naira depreciated to new lows across many markets as continuing Central Bank of Nigeria (CBN)’s intervention failed to stem the fall of the Nigerian currency at the official and parallel…
The economic effects of the novel coronavirus (COVID-19) may begin to manifest in the maritime space sooner than later. This is premised on a development that has led to a…
The 21st century has witnessed a major rise in digital technology as life and living are integrated and made easier by the evolving technology. The economic system was not left…
Some experts have listed steps that needed to be taken by governments in developing economies, including Nigeria, to tackle the menace of illicit financial flows that had been undermining domestic…
Lacking any significant drivers of its own, sterling was pushed up by a broadly weaker U.S. dollar on Monday, as uncertainty over Brexit and Britain’s economic prospects kept most investors…
The Association of Bureau De Change Operators of Nigeria (ABCON) says reopening the bureau de change window for foreign exchange will crash the prevailing spike in the exchange rate. Aminu…
Non-oil export earnings through banks rose to $1.21bn in the first quarter of 2020. The Central Bank of Nigeria disclosed this on Friday in its first quarter economic report, titled…
Scarcity of forex occasioned by the fall in the prices crude oil in the international market, Nigeria’s main export and source of foreign exchange, have started taking toll on the…
In the past week, reports emerged that some key members of the Onecoin scam were found dead in Mexico. According to reports, the two Oscar Brito Ibarra and Ignacio Ibarra…
The value of petroleum imports into Nigeria exceeded the value of exports by $58.5bn within a five-year period, the latest figures from the Organisation of Petroleum Exporting Countries have shown.…
European unity is fueling a rally across markets in the region Goldman says Europe’s stocks will outperform against the U.S. Since the birth of the euro two decades ago, the…
American real money managers turn bearish: Standard Chartered Greenback is sliding as U.S. exceptionalism wanes: QIC After rocketing higher in March as the ultimate haven currency, the dollar is now…
Stakeholders in the economy have expressed worry over the capacity of the country to service its rising debt profile. In an interview with our correspondent, the Director-General, Lagos Chamber of…
Naira Slides to N580 Against British Pound, Remains Under Pressure Naira continues its downward trend against global counterparts this week as the Central Bank of Nigeria fails to up forex…
Market rush to unwind short positions evident via option bets Commercial trader positioning suggests further gains ahead The forces behind the euro’s recent strength suggest this may only be the…
Crypto adoption in Africa is lead by Nigeria, South Africa, Kenya and Ghana Crypto volume in Africa reached $16 million last week Because of difficulties accessing traditional finance, Bitcoin has…
The pound was broadly steady against the dollar and edged up versus the euro on Friday, little moved by better-than-expected economic data but still on track for its biggest weekly…
President Buhari’s administration is on record as being the first to consciously determine to address Nigeria’s perennially low ranking in global ease of doing business (EDB)/ competitive ratings, acknowledging inevitability…