Real Time Financial News Website
The U.S. dollar strengthened on Thursday as investors focused on poor Chinese retail sales instead of its stronger than expected economic growth last quarter, with the focus now shifting more…
The nation’s economy recorded a net foreign exchange inflow of $9.35bn in February. The Central Bank of Nigeria disclosed this in its February monthly report. It said, “Foreign exchange flows…
Sterling was dragged up by a weaker dollar and an improvement in risk sentiment on Wednesday but traded flat against the euro, with analysts saying it likely faced further weakening…
The British pound slipped on Thursday as risk aversion swept through markets, boosting the safe-haven appeal of the U.S. dollar as upbeat Chinese growth data failed to lift sentiment. Against…
The Organisation of Petroleum Exporting Countries (OPEC) and its allied oil producers, known as OPEC+, yesterday insisted that defaulting countries, including Nigeria, must adhere to total compliance with the oil…
There are indications that oil theft and illegal refining have attain new heights in Nigeria as Shell Petroleum Development Company Limited (SPDC), with over 600,000 barrels daily output, recorded 39…
Oil prices rose on Wednesday following a sharp drop in U.S. crude inventories, with the market waiting for next steps from a meeting later in the day on the future…
As investors await the first half reports of quoted companies, market pundits have said the outlook for the capital market will be determined by corporate earnings performance in the past…
The euro rose to a four-month high against the dollar on Wednesday on hopes European Union leaders may agree on stimulus and deepening fiscal integration to shield the economy from…
Risk sentiment was upbeat in currency markets on Wednesday, as signs of progress towards a COVID-19 vaccine and a Wall Street equities rebound on Tuesday pushed commodity currencies higher and…
The servicing of debts by Nigeria may limit the Federal Government’s ability to increase economic productivity, the Organisation of Petroleum Exporting Countries said on Tuesday. OPEC, also disclosed that based…
Naira Exchanges at N465 to a US Dollar on the Black Market The Nigerian Naira remained under pressure at N465 to a United States dollar on the black market following…
The value of the naira went in different directions at the Nigeria Autonomous Foreign Exchange (NAFEX) and parallel market windows as the Central Bank of Nigeria (CBN) yesterday directed banks…
Inflation and not losing money in investment schemes are two major concerns of Nigerian investors. Mr. Guy Czartoryski the Head of Research, disclosed this at a recent Coronation Asset Management…
For the first time in many years, the Organisation of Petroleum Exporting Countries, OPEC, has confirmed Nigeria’s ability to cut its output from 1.7 million barrels per day, mb/d in…
Peer-to-peer Bitcoin trading volume hits new all-time highs in Africa While major cryptocurrency exchanges saw a significant decline in trading volume last month, Africa keeps shattering previous records, according to…
The dollar fell in North American trade on Tuesday as the euro rose on optimism about the possibility of a European Union stimulus package and as U.S. stocks gained. FILE…
The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey. “We are looking at the question of, should we create…
Nigeria, Africa’s top oil producer, generated $206.06bn in revenue from crude oil exports in the last five years, the Organisation of Petroleum Exporting Countries has said. OPEC, in its 2020…
Negotiations between the Federal Government and China Railway Construction Corporation Limited for the construction of the Ibadan Inland Dry Port is nearing completion, the Nigerian Shippers’ Council announced on Sunday.…
Traders under the aegis of South-East Amalgamated Markets Traders Association have protested high demurrage at ports across the country. They said their goods were being confiscated by clearing agencies and…
Many Nigerians believe that rising inflation will lead to a weaker economy, according to a survey by the Central Bank of Nigeria. The Statistics Department of the CBN disclosed this…
The U.S. dollar edged down in Asian trade on Monday as investors looked to looming economic data from around the world and U.S. corporate earnings to gauge whether the markets’…
Sterling/dollar rose on Monday towards its 200-day moving average of $1.27, though it was last trading neutral at $1.2619. Against the euro, the pound was 0.2% weaker at 89.67 pence,…
Association of Bureaux De Change Operators of Nigeria (ABCON), has called on the Federal Government to suspend all increases in taxes and tariffs until the economy recovers from the impact…
South Africa’s rand firmed early on Monday, helped by increased risk appetite as investors bet again on a global economic recovery. The rand was 0.36% stronger at 16.7100 against the…
The months ahead may be more daunting for the real sector as government’s debt-funding plans at higher costs threaten to crowd out private sector investments and stifle local manufacturing. The…
Economic experts have expressed concerns about the recent devaluation of the Naira by the Central Bank of Nigeria (CBN), warning that it will make the 2020 budget unrealistic and unachievable.…
Dipping oil prices, COVID-19, increasing debt, high poverty and unemployment have been identified as factors that have forced the Nigerian government to change its earlier stance on continued protection of…
The sharp depreciation of the naira in the parallel market is set to continue this week with the exchange rate projected to hit N470 per dollar. Last week, the naira…