African Trade Finance Outflows To Hit $5b
Constrained global financial conditions caused by COVID-19 have led to massive portfolio outflows from Africa,…
Weak Fiscal Space Putting Pressure On Monetary Policy
A member of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), Prof. Mike Obadan, has said the…
ECO: Strengthening Naira More Beneficial Than West African Regional Currency…
As West African countries continue to dilly-dally on the adoption of a common currency, a former diplomat has…
Banks Electronic Transfers Hit N356.47tr
The National Bureau of Statistics (NBS) yesterday said in the Fourth Quarter (Q4) 2020, total transactions recorded…
Dollar Near Multi-Week Lows Before Fed, Yen Unmoved After BOJ
The dollar hovered near multi-week lows versus major peers on Tuesday, weighed by subdued Treasury yields ahead of…
Perspectives On Diaspora Remittances
As the largest recipient of remittances in sub- Saharan Africa and indeed the seventh largest among low and…
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,…
Top Global Central Banks Close Three-Month Dollar Cash Tap
The central banks of the the euro zone, Britain, Japan and Switzerland said on Friday they would discountinue a…
Bitcoin Price Crash: Half A Trillion Dollars Wiped From Crypto Market As Btc Falls…
The price of bitcoin has plummeted $15,000 from its recent all-time high, falling below $50,000 for the first time…
Nigeria Exports To Indonesia Over $700m’
Director of the Indonesian Trade Promotion Centre, Hendro Jonathan, said Nigeria exported goods worth 700…
$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…
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…
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…
China’s Booming Economy Is Fueling Alternative Yuan Trades
Optimism over China’s economy is fueling some alternative bets in the foreign-exchange market.
Buy the yuan…
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…
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…
UK Borrows 303 Billion Pounds In 2020/21 Financial Year
Britain’s government borrowed 303.1 billion pounds ($420.1 billion) in the financial year which ended last month,…
Top Forecaster Sees Aussie Rising To 85 U.S. Cents By Next Year
Australian one hundred dollar and fifty dollar banknotes are arranged for a photograph in Sydney, Australia, on…
Nigerian Seaports Poorly Ranked In West Africa, LCCI Laments
The Lagos Chamber of Commerce and Industry has expressed concern over the state of the country’s seaports, saying…
C$ Posts Biggest Gain In 10 Months As Bank Of Canada Cuts Stimulus
The Canadian dollar surged by the most since June 2020 against its U.S. counterpart on Wednesday and the Toronto…
Nigerians Shun Naira For Foreign Currencies To Protect Wealth
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging…
Used-Car Prices Leap On U.S. Economic Recovery, Supply Crunch
Used car prices in the U.S. are soaring.
The Manheim U.S. Used Vehicle Value Index, a gauge of pricing trends,…
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…
Dollar Ban For Wheat Purchases May Add To Nigeria Food Scarcity
Nigeria’s plans to expand restrictions on dollar access for imports to now also include sugar and wheat could…
CBN, ICT As Economic Stimulant
Lagos — The information and communications technology (ICT) sector has in recent times been a major player in…
CBN To Sanction Banks, FX Dealers Rejecting Old Dollar Bills
Deposit Money Banks (DMBs) and other authorised foreign exchange (forex) dealers rejecting old/lower denominations…
Shippers Council Targets 80% Automation By June
The Nigerian Shippers’ Council (NSC) says it hopes to achieve 80 per cent automation of the entire seaport…
Pound-Dollar To Extend Gains To 1.45 By June 2021 Day NAB
The British Pound to Dollar (GBP/USD) is forecast at 1.4500 for June 2021 and 1.50 for December.
Foreign…
Higher Oil Prices Push Up External Reserves By $409m
The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures…
Dollar Struggles To Recover After Slump To 7-Week Trough Amid Lower U.S. Yields
The dollar languished on Wednesday, hovering just above a seven-week low with subdued U.S. bond yields reducing the…