Analysts Express Cautious Optimism As Inflation Drops To 18.12%
After 20 consecutive months of increase, the Consumer Price Index(CPI), which measures inflation has dropped to 18.12 per cent (year-on-year)…
Category: Local
Family Businesses Key To Realising Nigeria’s 6% Yearly Growth
Based on their significance, it is pertinent that lasting family businesses emerge in Nigeria if the country will realise its…
AfDB, European Bank To Bridge US$2.5trn Financing Gap In Africa
The African Development Bank (AfDB) Group and the European Bank for Reconstruction and Development (EBRD) have signed a memorandum of understanding (MoU)…
The Naira Depreciated Against The US Dollar On IEFX Window As Nigeria’s Oil Production Improved
The Macroeconomy Nigeria’s oil production improved. Headline inflation inched up further in March 2021. The Naira depreciated against the U.S.…
Nigerian Naira Weakens On Official Market
ABUJA: Nigeria’s naira inched down against the dollar on Monday, having recently weakened in the official market in a move…
Banks Consume More Energy Than Bitcoin – Report
A report by Galaxy ‘On Bitcoin’s energy consumption’ has revealed that traditional banks use more energy than Bitcoin. Last week,…
Exchange Rate: Outlook Of Ghana’s Cedi Against Foreign Currencies
On the interbank board today May 17, 2021, the Ghana Cedi started the 21st trade week of the 2021 fiscal…
Raising Diaspora Remittances With Offshore Networks, Partnerships
Diaspora remittances remain major sources of stable external financing for Nigeria and developing countries. Countries have continued to harness these…
Nigeria’s Annual Inflation Rate Dips Slightly In April, Naira In Focus
Nigeria’s annual inflation eased marginally to 18.12%, the first dip in the rate in 20 months, the statistics office said…
Foreign Investors’ Trapped $2bn Dragging Down External Reserves – Rewane, Others
The clearing of foreign portfolio investors’ funds that have been trapped in Nigeria for months on the back of foreign…
Naira Gains 0.04% At I&E, Remains Unchanged At Black Market
The Naira appreciated by 27 kobo or 0.04 per cent on the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on…
WorldRemit Backs CBN’s Extension Of Naira-4-Dollar Scheme
WorldRemit, a global cross-border payments company, has expressed support for the Central Bank of Nigeria’s decision to extend the deadline…
Nigeria’s Inflation Rate Slows To 18.12% In April — First Decline In 20 Months
The consumer price index, which measures the rate of change in the price of goods and services, dropped to 18.12…
Inflation – Money Supply Rises 22.5 Percent To N38trn
The increasing demand for cash by members of the public to meet the rising prices of goods and services has…
ANALYSIS: 77% Of Oil Spills In Nigeria Occurred In Only Three States
Between January 2019 and April 2021, 12 states in Nigeria recorded 881 cases of oil spillage, according to data obtained…
N120b Petrol Subsidy To Double As CBN Adjusts Exchange Rate
As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official…
Currency Printing Is Finance Ministry’s Responsibility, Says Owoh
Godwin Owoh, a professor of applied economics and expert in central banking, in an interview with GEOFF IYATSE, speaks on…
NNPC Selects 26 Firms To Lift Nigeria’s Crude Oil
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift…
Agusto & Co Forecasts $22bn Diaspora Remittances For Nigeria In 2021
Pan-African credit rating agency, Agusto & Co has projected that Nigeria’s diaspora remittances will reach $22 billion by 2021, representing…
Branch Offers Free Money Transfers
The Branch Finance Company is offering free unlimited money transfers and a 20 per cent per annum investment returns for…
Investors Gain N150bn As Nigerian Stocks Cut Losses
Investors gained N150bn at the close of trading on the Nigerian Exchange Limited last week as stocks pared their losses.…
$1.24bn Spent On Food Imports Despite Buhari’s Forex Ban
Food products imports gobbled up $1.24bn of the foreign exchange supplied by the Central Bank of Nigeria from October 2020…
NSML To Establish Dry Docking Facility
The NLNG Ship Management Limited (NSML), which manages vessels belonging to the Nigerian Liquefied Natural Gas (NLNG), is to establish…
Nigeria Devalues Naira, Official Rate Now 411 To Dollar
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to…
Three Refineries Processed No Crude In January – NNPC
Latest operations report of the Nigerian National Petroleum Corporation indicates that Nigeria’s refineries under the management of NNPC could not…
Nigeria Lets Naira Weaken In Possible Move To Unify Exchange Rates
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to…
We Breached No Laws In Our Relationship With INTELS – Suspended NPA Boss Usman
Embattled suspended Managing Director of the Nigerian Ports Authority, Hadiza Bala Usman, has debunked claims by an online newspaper, Sahara Reporters,…
Toxic Loans, Courts May Force AMCON’s Burdens On Taxpayers
Seized Assets Face Capital Erosion Amid Agency’s Monetisation Hurdles • Aero, Arik Struggling, Five Years Post Takeover • Over 3,000…
CBN Begins Gradual Harmonisation Of Exchange Rates
The Central Bank of Nigeria (CBN) yesterday began gradual harmonisation of exchange rates with the removal of N379/$1 official rate…
Power Outage As National Grid Collapses Again
On Wednesday, the nation’s grid collapsed once more, triggering power outages in some parts of the country. This was stated…