Oil Holds Gains Near Six-Week High On Rising Demand Optimism
Oil was steady near a six-week high as signs of strengthening demand in key markets offset concerns a Covid-19 resurgence…
Category: Local
Oil Prices Extend Gains As Bullish Demand Outlook Outweighs India Concerns
Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer…
Nigeria Lawmakers Expand Powers Of Firm Buying Banks’ Bad Debts
Nigerian senate passed a bill that strengthened the power of state-owned Asset Management Corp. of Nigeria to recover bad loans…
CBN Urged To Constitute Special Tribunal On Resolution Of Islamic Banking Issues
A former member of the Central Bank of Nigeria’s (CBN) Financial Regulation Advisory Council of Experts and now a professor…
Nigeria’s Bitumen Reserves Hit 42 Billion Barrels
Bitumen reserves in the country have grown to about 42 billion barrels out of which 43 industrial chemicals, including heavy…
Reps Ask CBN To Suspend Deadline For MFBs Recapitalisation
A day to the expiration of the deadline given by the Central Bank of Nigeria (CBN) to microfinance banks (MFBs)…
Uncertainty Envelops States As Revenue Tumbles
Nigeria’s over-reliance on oil as its major source of revenue and failure of successive administrations to build new or repair…
Nigeria, Six Others Account For 65% Global Gas Flaring – World Bank
The World Bank on Wednesday said Nigeria and six other countries were responsible for two-thirds of global gas flaring. It…
FG Grants Approval For $2.9bn Escravos Seaport
The Federal Government has granted approval for the establishment of the Escravos Seaport Industrial Complex, ESIC, to Mercury Marine Concession…
Senate Passes Amended AMCON Bill, Okays Seizure Of Debtors’ Assets
The Senate, on Wednesday, passed the Asset Management Corporation of Nigeria Amendment bill. The passage of the bill followed the…
Alternative Seaports, Solution To Gridlock – Lagos Govt
Lagos State Government, yesterday, expressed dissatisfaction over the current traffic congestion in Apapa and its environs, despite the introduction of…
‘Banks Pumped N4.56tr Into Economy In One Year’
Banks have injected N4.56 trillion into the economy as loans through private sector operators in the last 12 months, a…
Nigeria Can`T Afford Another Civil War – Osinbajo
Vice President Yemi Osinbajo, says Nigeria cannot afford another civil war because it will not augur well for the country.…
Oil Prices Steady As Rising Demand Outlook Tempered By COVID Worries
Oil prices were steady on Wednesday as support coming from forecasts of a recovery in global fuel demand was tempered…
Nigeria, ICC Younde Forge Alliance To Tackle Piracy In Gulf Of Guinea
The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Interregional Coordination Centre (ICC), Yaoundé, have forged an alliance to…
Pricey Corn Has Farmers Feeding Wheat For Humans To Livestock
China’s expanding hog herd is vacuuming up the world’s feed grains and forcing traders to dip into wheat reserves, a…
CBN Injects $1.47bn Into Forex Market In One Month
The Central Bank of Nigeria injected $1.47bn into the foreign exchange segment of the market as part of its efforts…
ECO: Strengthening Naira More Beneficial Than West African Regional Currency – Diplomat
As West African countries continue to dilly-dally on the adoption of a common currency, a former diplomat has advised the…
Banks Electronic Transfers Hit N356.47tr
The National Bureau of Statistics (NBS) yesterday said in the Fourth Quarter (Q4) 2020, total transactions recorded through Electronic Payment…
Perspectives On Diaspora Remittances
As the largest recipient of remittances in sub- Saharan Africa and indeed the seventh largest among low and middle-income countries (LMICs),…
Commercial Banks’ Loan Exposure To Government Hits N1.8 Trillion
The total commercial loans to the government, at all levels, rose to N1.77 trillion at the close of last year,…
Nigeria Exports To Indonesia Over $700m’
Director of the Indonesian Trade Promotion Centre, Hendro Jonathan, said Nigeria exported goods worth 700 million dollars to Indonesia last…
$160m Forex Spent On Food Import In January
The country spent $160m from its foreign exchange on food importation in January according to figures obtained from the Central…
Customs Intercepts 42 Drums Of Explosives At Sango-Ota
The Federal Operations Unit (FOU), Zone A of the Nigeria Customs Service (NCS) on Wednesday intercepted 42 drums of calcium…
Nigeria Needs 300,000MW Electricity For Double-Digit Growth
The aspiration of growing the economy at a double-digit rate may remain a mirage unless electricity output increases to 300,…
Reps Probe Delay In Ports Concession, Privatisation Review
The House of Representatives has resolved to investigate the delay in the review of the agreements signed by the Federal…
Nigerians exceed IMF’s 30% dollar deposits threshold
Dollar deposit by Nigerians in banks has exceeded the 30 per cent threshold approved by International Monetary Fund (IMF), a…
Nigerian Seaports Poorly Ranked In West Africa, LCCI Laments
The Lagos Chamber of Commerce and Industry has expressed concern over the state of the country’s seaports, saying this has…
Nigerians Shun Naira For Foreign Currencies To Protect Wealth
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research…
BDC Operators Beg CBN To Review N2/$1 Transaction Margin
Bureaux De Change (BDC) operators in Nigeria have asked the Central Bank of Nigeria (CBN) to review the transaction margin…