CBN’s Multiple Exchange Rate Deters Foreign Investment In Nigeria, Says FG.
A major barrier to the operation of enterprises is the multiple exchange rate system and restricted access to…
W’Bank Forecasts Nigerian Debt Service and Revenue At 102%.
The growing debt service-to-revenue ratio in Nigeria, according to the World Bank, is a cause for concern.The bank…
NSIA Assumes New Leadership.
Aminu Umar-Sadiq is the new Managing Director/Chief Executive Officer (CEO) of the Nigeria Sovereign Investment…
US Treasury Says Cryptocurrency Industry Might Endanger Financial Stability.
The US Treasury Dept's Financial Stability Oversight Council (FSOC) has concerns on cryptocurrencies; and also…
OPEC+ Plans Significant Production Cutbacks.
Notwithstanding demands from the United States and others to generate more oil, OPEC+ appears prepared to…
NATO Worries About Russian Plans to Test Belgorod Poseidon Nuclear Torpedo.
Initially intended to be a Project 949A Antey submarine, the nuclear submarine BS-329 Belgorod came to live. The…
Oil and Gold Suffered Significant Q3 Losses.
After a surprise stronger U.S. Inflation reading for August bolstered predictions for more astronomical Federal…
NNPC Increases Revenue to N674 Billion in 2021.
The Nigerian National Petroleum Company Limited's Group Chief Executive Officer, Mele Kyari, said that the NNPC's…
Russian Oil Price Cap Adopted by EU.
According to Politico Europe, which cited diplomatic sources, the EU has tentatively agreed to set a price ceiling…
Naira Depreciates to N740 per $1
On the black market, the naira-to-dollar exchange rate has further depreciated to a record low, trading at a…
Kenya Court Rejects Petition Regarding VAT on Fuel products.
Sen. Okiya Omtatah of Busia filed a case 2018 opposing the introduction of a tax on petroleum products; but the…
Nigerian Banks Experience Earnings Drop Following Latest Policy Rate Increase…
The Central Bank of Nigeria (CBN) increased its main monetary policy rate by 150 basis points (bps) on September…
Musk Introduces a Humanoid Robot.
Elon Musk, the founder of Tesla and SpaceX, unveiled a prototype robot dubbed "Optimus"; that will likely be…
North Korea Launches A Missile Over Japan.
Tokyo officials allege that North Korea has launched a ballistic missile over Japan for the first time since 2017.…
Nigeria FG Sanctions Oil and Gas Companies N127bn for Oil Pollution.
In order to penalize oil and gas companies operating in the nation for gas flaring, the Federal Government levied…
The Top 5 Cryptocurrencies in October 2022.
September saw a 3.12% monthly decline in the market capitalization of cryptocurrencies, falling from $973. 9…
World Bank Approves $750 Million to Enhance Business-Friendly Environment.
The Nigeria State Action on Business Enabling Reforms (SABER) Program-for-Results will be support by a 750 million…
Shell Purchases Daystar Power, in Lagos.
Under the condition of regulatory approvals, Daystar Power has declared that it will be bought by Shell; this is…
How To Earn From The 15.5% Interest Rate Increase By CBN.
The benchmark interest rate (MPR), according to Nigeria's Central Bank has risen to a two-decade high of 15.5%.…
UNICEF Employs NFTs To Raise Money for Impoverished Nations.
In order to raise money for its purpose of giving internet connection to schools in underdeveloped areas all over…
Overall Revenue Losses In The Power Sector Total N420billion.
The umbrella organization for Nigeria's power generation is APGC. According to the executive secretary of the…
Ethiopian Airlines Becomes A key Investor In Nigeria Air.
The Nigerian government announced that Ethiopia Airlines is the preferred bidder for Nigeria Air; as it gets ready…
Drone Assassinations Are Legal in Israel.
IDF commanders will be permitted to employ drones "to carry out strikes should armed individuals be recognized as…
ECOWAS Names Dangote Manufacturing Brand of the Year.
In addition to winning eight separate Manufacturing Excellence Awards (EMEA) from the Economic Community of West…
Nigeria’s Food Problem Is Getting Worse Due To Import Dependence.
According to the International Monetary Fund, an excessive reliance on imported foods has made the food crisis…
The CBN Lends N9.3trillion To Businesses While Reducing Interference.
The Central Bank of Nigeria has lent N9.3tn to businesses, recovering N3.7tn from it.The apex bank said N5tn was…
Northeastern Angola Finds 131-Carat Diamond.
Another gem, a 131 carat white Type IIa diamond, has been recovered, according to Lucapa Diamond and Sociedade.…
Core Capital goods shipments and orders increased in the United States in August.
According to the data, company spending on equipment likely increased in the third quarter, allaying concerns that…
Nigerian Bank Stocks With The Lowest Price-Earnings.
According to data gathered by Bloomberg, United Bank for Africa Plc, Access Bank Plc, FBN Holdings Plc; and Unity…
Egypt’s Economy Suffers From A Dollar Shortage As Imports Are Restricted.
Egypt's economic problems have worsened due to the conflict in Ukraine. Unfortunately for individuals who had…