Foreign Reserves Fall $731m In 5 Weeks, As Crude Oil Prices Decline By 65%
The country’s foreign reserves fell by $731 million in five weeks, the latest figures obtained from the Central…
Dollar Capped As U.S. Leaders Meet On Stimulus, Pound Underpinned By Brexit Hopes
The dollar languished near 2-1/2-year lows on Wednesday as progress toward a massive U.S. government spending bill…
Nigeria Records $414.79m Foreign Direct Investment In Q3 – NBS
Nigeria recorded $414.79m Foreign Direct Investment in the third quarter of 2020 out of a total of $1.46bn capital…
FG Expects $26bn Diaspora Remittance To Rise
The Federal Government on Tuesday in Abuja called on Nigerians in the Diaspora to be part of its programmes and…
Africa Trade Deal Could Tap $84bn In Export Potential
A continent-wide free-trade pact could help to realise more than $84 billion in untapped intra-African exports,…
Recession, Inflation And Nigerian Households’ Income
Headline inflation which measures the total rise in prices within an economy, including commodities such as food…
Naira Remains Flat Across Forex Markets As Improved Dollar Supply Continues
Forex turnover rose by 3.4%, as the Naira’s exchange rate at the NAFEX window maintained stability against the…
Nigeria’s External Reserve Sinks To 8-Month Low
This is the lowest level since April when it touched $33.4 billion in the wake of the COVID-19 pandemic and falling…
Nigeria Gives Telecoms Providers Two Weeks To Add ID Numbers To SIM Cards
Nigeria has given telecommunication providers two weeks to add valid National Identification Numbers (NIN) to…
Naira Maintains Stability At Various FX Market Windows
The Naira extended its stability against the United States Dollar into a second day at the various windows of the…
China Offers $145 Billion To Banks As Cash Supply Tightens
China injected cash into the financial system by offering medium-term loans, in the government’s latest effort to…
AfCFTA: Nigeria To Become Petroleum Products Refining Hub, Says Sylva
The Federal Government says it will leverage the opportunities provided by the African Continental Free Trade Area…
Nigeria’s Economy Likely To Contract By Over 4% In 2020 -World Bank
Nigeria's economy is likely to contract by more than 4% this year, plunging the country into its deepest recession…
Nigeria Inflation At Highest In Almost Three Years On Food Costs
Nigerian inflation quickened to an almost three-year high in November as dollar shortages, insecurity in farming…
World Bank Approves $3bn For Nigeria
After threatening to withhold $1.5 billion until Nigeria carries out foreign exchange reforms to its satisfaction,…
Nigerian Annual Inflation Nears Three-Year High In November
Annual inflation in Nigeria rose in November for the 15th straight month, to almost a three-year high, the National…
PwC: Nigeria’s Economy Will Perform Better Than IMF, World Bank Projections
This is contained in the December 2020 Nigeria Economic Alert released by the firm on Monday.
It projected that…
Don’t Open Borders, NASME Tells FG
The National Association of Small and Medium Enterprise has advised the President, Major General Mohamadu Buhari…
Court Declares Stamp Duty On Bank Transactions Illegal
A FEDERAL High Court sitting in Asaba Delta State has ruled that it is illegal for banks to charge depositors N50…
The Australian Dollar Is Surging On Record Iron Ore Prices As Tensions With China…
SINGAPORE — The Australian dollar has leaped to its highest in more than two years, helped by surging iron ore…
External Reserves Dip By $269.47m In Five Weeks
The country’s foreign reserves fell by $269.47m in five weeks, the latest figures obtained from the Central Bank of…
Dollar Heavy Amid Stimulus Progress, Pound Buoyed By Brexit Hopes
The dollar traded near 2 1/2-year lows against major peers on Tuesday as demand for the safest assets flagged amid…
Lagos Lists 300 Distressed Buildings For Demolition
The General Manager, Lagos State Building Control Agency, Mrs Abiola Kosegbe, said it has listed about 300…
Equities Market Opens Week Bullish, Investors Gain N309.8bn
Equities trading on the Nigerian Stock Exchange (NSE) begins the week on a positive note as the market indicators…
Rapid China Inflows Spur Call For Strongest Yuan Since 1993
The yield on China’s 10-year government bonds climbed in recent months on speculation the PBOC will start to exit…
FG Suspends Issuance Of FTZs Licences
The Federal Government has suspended issuance of licences for the operations of Free Trade Zones (FTZs) in the…
Banks’ Non-Performing Loans Now N1.17tn – NBS
Non-performing loans in the Nigerian banking sector fell by N42.4bn in three months, latest figures from the…
Oil Rises From The Ashes As The Big Coronavirus Recovery Trade
Brent crude topped $50 a barrel last week for the first time since March, a milestone for an oil market that’s been…
OPEC+ Countries To Hold Jan. 4 Talks, Algeria Says
Algerian Energy Minister Abdelmadjid Attar said on Sunday that OPEC+ countries will meet on Jan. 4 to study the…
Deregulation: Nigerians Overpaying For Petrol – Expert
At a pump price of N167 per litre, Nigerians are currently overpaying for fuel, an industry expert, Alhaji Rabiu…