NPA Electronic Call-Up System To Decongest Ports
Come January 2021, the Nigerian Port Authority (NPA) will float the electronic version of its call-up system, which is expected…
Category: Local
Nigeria’s Forex Inflow Hits $21bn In Q3
The total amount of foreign exchange inflow into the economy in the third quarter of 2020 stood at $21.46 billion,…
Another New Coronavirus Variant Found In Nigeria, Says Africa CDC
Another new variant of the novel coronavirus seems to have emerged in Nigeria, the head of Africa’s disease control body…
CBN Directs Banks To Close Naira Remittances Ledgers
THE Central Bank of Nigeria (CBN) has mandated Deposit Money Banks (DMBs) to close all ‘Naira General Ledgers’ used by…
Low Production Pushes Up Cement Price By 35%
The inability to meet market demand for cement coupled with low production volume by major cement companies in Nigeria have…
Oil Climbs As U.S. Inventory Draw, Brexit Deal Hopes Boost Risk Appetite
Oil extended gains on Thursday in light holiday trade as a drop in U.S. stockpiles spurred demand hopes, while hints…
NIN: Telecom Operators Get NIMC Enrolment Licences
Mobile network operators (MNOs) on Wednesday said they have enrollment and verification licences from the Federal Government. The development followed…
NSE Market Capitalisation Hits N20 Trillion On Sustained Rally
The market capitalisation of the Nigerian Stock Nigerian (NSE), which is the total value of all listed equities, hit a…
Govt – Border Reopening: Poultry, Rice Importation Remain Banned
Osogbo — The Minister of Interior, Mr. Rauf Aregbesola, has said that despite the reopening of borders, the importation of…
Large Crowd Gathers At NIMC Office In Lagos For NIN Registration Amid COVID-19 Second Wave
The Nigerian government had last week issued an ultimatum to all telecommunications operators in the country to block all Subscriber…
Nigeria Is Facing Worst Security Challenge In History – Gombe Gov
Gombe State Governor, Muhammadu Inuwa Yahaya, has declared that Nigeria is facing the worst security challenge in its history. The…
Nigeria’s Parliament Passes $35.66 Bln Budget For 2021
Nigeria’s parliament approved on Monday the government’s 2021 budget of 13.6 trillion naira ($35.66 billion), assuming 3% annual economic growth,…
NDIC Verifies Depositors In 42 Liquidated MFBs For Payment
The Nigeria Deposit Insurance Corporation (NDIC) is in the process of closing 42 Microfinance Banks (MFBs) which operating licenses were…
Foreign Investments In Nigerian Shares Rise By 80.6%
FOREIGN portfolio investments in the Nigerian stock market rose by 80.6 per cent to its highest level in 11 months…
FX Market Ends Week With Naira Weakening By 0.42%
The foreign exchange market closed the week with Naira weakening by 0.42 percent after exchanging with the dollar at N477…
Zero Oil Plan Designed To Boost Foreign Exchange Earning
Director General of the Nigeria Export Promotion Council (NEPC), Segun Awolowo has explained that the zero -oil plan initiative developed…
Dangote Cement To Commence Tranche 1 Share Buyback Programme By December 30th 2020
Dangote Cement Plc (“Dangote Cement” or “DCP” or the “Company”) hereby announces the commencement of its share buy-back programme (the…
Oil Prices Skid As New Coronavirus Strain Fuels Demand Worries
Oil prices dropped more than 3% on Monday, as a fast-spreading new coronavirus strain that has shut down much of…
Taming Nigeria’s Rising Inflation
The recent report by the National Bureau of Statistics (NBS) showed that the consumer price index (CPI) which measures inflation…
No Need To Panic Over New UK Coronavirus Strain, Says India’s Health Minister
India’s health authorities remain vigilant and prepared to deal with a new more transmissible strain of the coronavirus identified in…
External Reserves Shed $567m In 2wks
The nation’s external reserves fell by $567 million in the first two weeks of this month. According to the latest…
42 Microfinance Banks Lose Licences
The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 microfinance banks (MfBs). The affected banks have…
Nigeria’s Forex Reserves Drops By $132.06 Million
NIGERIA’s foreign exchange (forex) reserves dropped by $132.06 million at the weekend as the apex bank continued to use the…
Offshore Investments By Oil Majors Plunge
OFFSHORE rig values have declined almost 42 per cent in the last 12 months, equating to a loss of around…
Oil Dips, Heads For Weekly Gain As Vaccine Rollouts Support
Oil dipped towards $51 a barrel on Friday though still headed for a seventh weekly gain in a row as…
NIS Confirms Upsurge In Emigration
The Nigeria Immigration Service (NIS) has confirmed the increase in the number of Nigerians struggling to travel overseas due to…
Oil, Power Firms Owe Nigerian Banks N5.83tn – NBS
The debts owed by energy firms to Nigerian banks rose by N200bn to N5.85tn in the third quarter of this…
Naira Falls At Black Market As MMOs, PSPs Are Barred From Receiving Diaspora Remittances
Forex turnover rose by 9.6%, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close…
OPEC To Increase Production
WHILE the most recent Petroleum Status Report tilted firmly into positive territory, the crude market has taken a cautious stance…
‘E-Customs Platform To Commence Next Week’
The Nigeria Customs Service has disclosed plans to roll out an electronic-Customs platform with capacity to promote future increase in…