Real Time Financial News Website
• ‘Timing coincidental, nothing to do with IMF, World Bank’ • Economists advocate currency, lifestyle audit • Moghalu, Sanusi, others disagree on exchange rate unification The country’s fiscal state faces…
The dollar found some traction on Tuesday, as risks from rising coronavirus cases offset strong economic data and kept a lid on confidence in an economic recovery from the COVID-19…
Oil prices were mixed on Monday, with Brent crude edging higher, supported by tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike…
The exchange rate between the naira and dollar may move in the positive for Nigeria’s local currency, according to views of a cross section of traders and analysts interviewed by…
Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound implications for the business strategies of oil-producing companies and countries.…
The Chinese yuan led commodity currencies higher against the dollar on Monday as investors lapped up risky assets on growing expectations of a strong Chinese economic rebound. An index of…
The pound fell against the euro and held steady against the U.S. dollar, as traders looked ahead to this month’s Brexit negotiations and more government support measures expected later this…
Barring unforeseen circumstances, there are strong indications that Association of Securities Dealing Houses of Nigeria (ASHON) has stepped up an arrangement to ensure that its members trade on all the…
The Organised Private Sector (OPS) has commended the recent step by the Central Bank of Nigeria (CBN) towards unifying the exchange rate by adjusting the rate at the official Secondary…
With the sustained decline in the nation’s foreign reserves in the past months, some experts have advised Nigerian business owners, particularly the raw-materials-import-dependent ones, to begin to explore opportunities for…
The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector stopped contracting, which would further lift hopea for an economic…
Nigerian equities witnessed a major recovery in the second quarter with positive average return of 14.12 per cent within the three-month period, representing net capital gains of N1.656 trillion. The…
The CBN still continues to ward against currency speculators whon patronnize the black market. The exchange rate between the naira and dollar at the I&E remained stable on Frida, closing…
KEY POINTS In a research note published Thursday, analysts at Goldman Sachs estimated global oil demand would decline by 8% in 2020, rebound by 6% in 2021 and “fully recover”…
The apex bank, which has refused to disclose the exact foreign remittances it has received from 2016 to 2018, deliberately stocks the US dollars it receives on behalf of Nigerians…
Nigeria’s central bank devalued the naira at one of its currency auctions, according to people familiar with the matter. The weakening comes after Governor Godwin Emefiele announced last month that…
India’s rupee hit a three-month high after breaking out of a tight trading band, boosted by strong inflows and expectations that the central bank may be slowing its purchases of…
Oil majors Eni and Royal Dutch Shell were aware that most of the money they spent to buy a Nigerian oilfield in 2011 would go in corrupt payments to politicians…
Utilization of Local Raw-materials in the manufacturing sector increased marginally in the second half (H2) of 2019, attributable to the closure of the country’s land borders by the Federal Government…
The Central Bank of Nigeria, pursuant to Section 8 (g) of the CBN Scope, Conditions & Minimum Standards for Commercial Banks Regulations No. 2010 as revised on September 4, 2019;…
The Group Chief Executive Officer, United Capital Plc, Mr. Peter Ashade, has called on financial institutions to develop innovative home-grown financing solutions to support economies in Africa in order to…
Boeing Co’s (BA.N) communications chief Niel Golightly abruptly resigned on Thursday, following an employee’s complaint over an article the former U.S. military pilot wrote 33 years ago arguing women should…
JPMorgan Chase & Co (JPM.N) is eliminating terms like “blacklist,” “master” and “slave” from its internal technology materials and code as it seeks to address racism within the company, said…
The coronavirus pandemic has changed the air travel dynamics. Air travellers, either on local or international trips, will now have to sacrifice all forms of comfort to move from point…
The Federal Government has spent N609.135 billion to service domestic debt in the first quarter of 2020. The Debt Management Office (DMO) released this figure yesterday in Abuja. According to…
At the black market, the naira appreciated marginally by N1 to a dollar to close at N461 to a dollar. Forex turnover at the Investor and Exporters (I&E) window had…
With proven reserves now at 203.16 trillion cubic feet (tcf), natural gas is one of the hydrocarbons Nigeria has in abundance, yet under-utilised and equally flared. While the challenges are…
In January 2020, we estimated that better trade terms between the US and China, improved clarity on the UK-EU economic ties, as well as an accommodative monetary policy stance by…
Black market fuel made from stolen oil in rudimentary “bush” refineries hidden deep in the creeks and swamps of the Niger delta is less polluting than the highly toxic diesel…
As the federal government opens the second bid round for marginal fields, Niger Delta stakeholders are raising concerns over what they called an imminent breach of former President Umaru Yar’Adua’s…