$24bn Remittances: How Money Transfer Operators Sabotage Naira – Emefiele
DESPITE an estimated annual diaspora remittance of $24 billion, international money transfer operators (IMTO) have…
We Are Working On Diezani’s Extradition, EFCC Tells Court
The Economic and Financial Crimes Commission (EFCC) told a Federal High Court in Abuja on Thursday that it has…
Stable Oil Prices Won’t Resolve Nigeria’s Economic Challenges’
An investment expert and Chief Executive of EFG Hermes Nigeria Limited, Lilian Olubi, has said that rising oil…
UN Removes Marijuana From List Of World’s Most Dangerous Drugs
A United Nations commission voted to remove marijuana for medicinal purposes from a category of the world’s most…
$53m Foreign Airlines’ Funds Trapped In Nigeria
Foreign airlines trapped funds in Nigeria currently stand at $53 million, according to the International Air…
A New Visa Credit Card Offers Bitcoin Rewards Instead Of Miles Or Cash
a Inc. is partnering with cryptocurrency startup BlockFi to offer a credit card that rewards purchases with Bitcoin…
Dollar Is Dropping To Multi-Year Lows Against Peers, One By One
The dollar is steadily moving down the pack of the world’s currencies in December.
The euro, the Australian and…
US Soybean Export Council To Establish Excellence Centres In Nigeria
The United States Soybean Export Council (USSEC), the American Soybean Association’s World Initiative for Soy in…
OPEC+ Working On Compromise For 2021 Oil Policy, Sources Say
OPEC and Russia have moved closer to a compromise over oil supply policy for 2021 after talks earlier this week…
Dollar Plumbs Two-Year Lows As Stimulus, Vaccine Hopes Boost Risk Appetite
The dollar index hit its lowest in more than two years on Thursday, while the euro rose above $1.21 as signs of…
Sterling Holds Above $1.34 But Derivatives Signal Brexit Unease
Sterling clung on to $1.34 on Thursday thanks to broad dollar weakness, but derivative markets were flashing red on…
Nigerian Manufacturers Call For Review Of Border Closure
The Manufacturers Association of Nigeria (MAN) has urged the federal government to review its border closure policy…
Canadian Dollar Notches A Two-Year High On Higher Oil Prices
The Canadian dollar edged higher against its U.S. counterpart on Wednesday, as hopes rose that major oil producers…
Nigeria Resumes Petrol Importation From China
According to S&P Global Platts, data from the general administration of customs (GAC) of China showed that the…
UK Opens New Visa Routes For Skilled Workers
Applications for the new skilled worker visa by the UK opened on December 1
The United Kingdom (UK) has launched…
CBN Directs Banks To Close Naira Accounts For IMTO Proceeds
Following its new policy that grants unfettered access to forex from Diaspora and other money transfer remittances,…
Naira Trades N485/$1 At Parallel Market As CBN Interventions Lessens Pressure…
At the same segment, the domestic currency also appreciated by N5 against the Pound to wrap the day at N635/£1 as…
CBN Introduces New Bills To Control Liquidity
The Central Bank of Nigeria has said it has introduced special bills as part of efforts to deepen the financial…
Naira Gains, Exchanges For 490/$
Naira exchanged to the dollar at 490/$ in the parallel market on Wednesday, after it had sold for N500 on Monday.…
Exporters, Agents Lament Difficulties In Getting CBN Proceeds Number
Nigerian exporters have lamented the difficulties and undue stress in obtaining the Nigerian Export Proceeds…
OPEC+ Resumes Talks On 2021 Oil Policy Amid Disagreements
OPEC and Russia resume talks on Thursday in a bid to define policies for 2021 after an initial round of discussions…
New CBN Policy Firms Up Naira Value In Parallel Market
The Nigerian currency, Naira, yesterday reversed its two weeks depreciation trend in the parallel market, recording…
Nigeria Oilfield Sale To Eni, Shell Was Legally ‘Perfect’, Says Ex-Oil…
The sale of a Nigerian oilfield to Eni and Royal Dutch Shell was legally “perfect” and there was no proof of any…
Sterling At One-Month Low Vs Euro As Brexit Trade Deal Doubts Emerge
Sterling fell to a one-month low against the euro and also dipped momentarily below $1.33 on Wednesday as Britain…
Dollar Falls To Fresh 2-1/2-Year Low On U.S. Stimulus Bets
The safe-haven dollar sank to a fresh 2-1/2-year low in choppy trading on Wednesday, pressured once again by…
Nigerian Port Authority’s E-Call Up System Could Help Solve Apapa Gridlock
The Nigerian Ports Authority has finalised plans to implement the electronic call-up system to control the entry of…
Pope Condemns ‘Terroristic Massacre’ Of Nigerian Farmers
Pope Francis condemned on Wednesday the killing of scores of farmers and villagers in northeast Nigeria by…
Stock Market Extends Gains By N55bn
Nigerian stock market sustained its positive outlook on Tuesday to begin the month of December on a positive note…
Fitch Ratings: Forex Liquidity Risk May Affect Credit Rating Of Nigerian Banks
Fitch Ratings, a global credit rating agency, predicts a risk in the rating of Nigerian banks due to foreign…
Terrorism: Don’t Unfreeze #EndSARS Campaigners’ Accounts, CBN Begs Court
THE Central Bank of Nigeria has asked Justice Ahmed Mohammed of a Federal High Court in Abuja not to unfreeze the…