Nigeria: Naira Gains, Exchanges 430/$ As Forex Sale Resumes
The naira sold for N430 to a dollar on Monday, gaining some strength over previous week’s sales figures, following the…
Category: Local
FCMB Issues Official Statement On Collapse Of Customer At Onipanu Branch; Debunks COVID-19 Claims
Leading Nigerian financial institution, First City Monument bank (FCMB) has issued an official statement to address the video making rounds…
Massive U.S. Stock Bounce Stokes Doubts, Provokes Bears
Fund managers and corporations have deployed over $1.1 trillion into money markets while the S&P 500 mounted a nearly 30%…
Nigerians Cautious As Restrictions Eased In Lagos And Abuja
In Nigeria, some businesses have reopened on the first working day after the easing of a lockdown imposed on key…
Nigeria: FG Retains N125/litre Petrol Price Despite Crude Oil Crash
The Federal Government has failed to review the N123.5 to N125/litre pump price of petrol for the month of May…
Nigeria: Lagos State Govt Issues Fresh Guidelines On Reopening Markets, Shopping Malls
The Lagos State Government has said markets, where non-food items are sold, will be allowed to open on Mondays, Wednesdays…
Nigeria: CBN Makes It Mandatory For Commercial Banks To Get Approval Before Laying Off Workers
The Central Bank of Nigeria (CBN) has made it mandatory for Commercial banks in the Country to get approval before…
Buffett’s Berkshire Posts Nearly $50 Billion Loss As Coronavirus Causes Pain
Warren Buffett’s Berkshire Hathaway Inc is being hit hard by the coronavirus pandemic, posting a record quarterly net loss of…
Nigeria: Fuel Subsidy Will Not Return, FG Assures IMF
The Federal Government has pledged that it will ensure that fuel subsidy, which was recently removed, does not re-emerge. The…
BREAKING: Nigeria Records 238 New COVID-19 Cases, Total Now 2,170
Nigeria has recorded 238 new coronavirus cases, bringing the total number of infections in the country to 2,170. The Nigeria…
Nigerian Government Continues With The Disbursement Of N50bn Covid-19 Fund
NIRSAL Microfinance Bank has commenced the disbursement of the Central Bank of Nigeria N50bn Targeted Credit Facility. The Managing Director,…
Nigeria: Lagos Directs Reopening Of Government Offices, Establishments
Lagos State Head of Service, Mr. Hakeem Muri-Okunola, has announced the reopening of the State Secretariat, Alausa as well as…
Nigeria: CBN Extends Microfinance Banks Recapitalization Deadline
The Central Bank of Nigeria in consideration of the impact of the COVID-19 pandemic on economic activities has revised the…
Nigeria: FIRS Waives Interests And Penalties On Outstanding Debts To May 31st
The Federal Inland Revenue Service (FIRS) has announced additional palliative measures to further manage the impact of the Coronavirus disease…
Nigeria: BREAKING: We Did Not Approve Fresh 85 Billion Loan For Buhari – Senate
The Nigerian senate has dispelled reports that a fresh N850 billion loan request made by the president was approved during…
Nigeria: Refineries Recorded N9.6bn Loss In January – NNPC
Nigeria’s refineries started their 2020 financial year with losses as they posted a cumulative operational deficit of N9.6bn in January.…
Nigeria: Foreign Reserves Drop By $5.09bn In Four Months
The country’s foreign reserves have continued its downward trend, dropping by $5.09bn from $38.53bn on January 2, 2020 to $33.44bn…
Nigeria: Lagos Sanwo-Olu Orders Markets, Restaurants To Open, But Must Adhere To Certain Rules
The Lagos State Governor, Babajide Sanwo-Olu, has directed the reopening of markets on selected days in the state. He spoke…
Nigerian Banks In Lagos, Ogun And FCT To Open From Monday
The Federal Government says banks will open for commercial operations in Abuja, Lagos and Ogun States beginning Monday, May 4.…
Nigeria: CBN Resumes Dollar Sales For SMEs And School Fees
The Central Bank of Nigeria (CBN) has resumed the sale of foreign exchange to all commercial banks for onward sales…
IMF Approves $3.4bn For Nigeria’s COVID-19 Fight
The board of the International Monetary Fund (IMF) has approved the sum of $3.4 billion to support Nigeria’s COVID-19 fight.…
Germany Grants Nigeria N8.9bn Debt Relief
The Republic of Germany said it has granted Nigeria debt relief amounting to N8.9 billion (€22.4 million) on account of…
BREAKING: 2020 Budget: Senate Approves Buhari’s N850bn Loan Request
The Senate has approved the N850billion loan request of the President, Major General Muhammadu Buhari (retd.), which was read at…
Nigeria: FBN Holdings Shareholders Approve N13.64bn Dividend
Shareholders of the FBN Holdings have approved a total dividend of N13.64bn declared by the company for the financial year…
Nigeria: Buhari Seeks N’assembly Approval For N850bn Loan To Fund 2020 Budget
President Muhammadu Buhari has asked the national assembly to approve a loan request of N850 billion to fund the 2020…
Remote Work Revenue Could Help Microsoft Offset Coronavirus Impacts, Analysts Say
When Microsoft Corp reports earnings on Wednesday, analysts expect some areas of its business to take a hit from the…
Central Bank Of Nigeria Lifts Suspension On Cheques’ Clearing
The Central Bank of Nigeria has lifted suspension on cheque clearing by the Deposit Money Banks. It stated this in…
IMF To Meet On Nigeria’s Emergency Loan Request Today
There are indications that the Executive Board of the International Monetary Fund may approve the $3.4bn loan sought by Nigeria…
New York State Cancels Presidential Primary Over Coronavirus Risk
New York state on Monday canceled its presidential primary over concerns voting was an unnecessary risk amid the COVID-19 pandemic,…
BREAKING: President Buhari Extends Lockdown In Lagos, Ogun, FCT Until May 4, Curfew To Begin After That
President Buhari has extended the lockdown in Lagos, Abuja and Ogun state till May 4th He also sad a dusk…