Foreign Investments In Nigerian Shares Rise By 80.6%
FOREIGN portfolio investments in the Nigerian stock market rose by 80.6 per cent to its highest level in 11 months…
New Coronavirus Strain Hits Pound, Euro As Investors Seek Dollars
The British pound and the euro fell on Monday as investors sought refuge in the dollar, after a fast-spreading new…
FX Market Ends Week With Naira Weakening By 0.42%
The foreign exchange market closed the week with Naira weakening by 0.42 percent after exchanging with the dollar at N477…
Zero Oil Plan Designed To Boost Foreign Exchange Earning
Director General of the Nigeria Export Promotion Council (NEPC), Segun Awolowo has explained that the zero -oil plan initiative developed…
Dangote Cement To Commence Tranche 1 Share Buyback Programme By December 30th 2020
Dangote Cement Plc (“Dangote Cement” or “DCP” or the “Company”) hereby announces the commencement of its share buy-back programme (the…
Cameroon Says Boko Haram Infiltrates Top Business And Political Leaders
A Cameroonian official said Friday he had found evidence that, as widely suspected, Boko Haram militants have been establishing close…
Oil Prices Skid As New Coronavirus Strain Fuels Demand Worries
Oil prices dropped more than 3% on Monday, as a fast-spreading new coronavirus strain that has shut down much of…
Taming Nigeria’s Rising Inflation
The recent report by the National Bureau of Statistics (NBS) showed that the consumer price index (CPI) which measures inflation…
No Need To Panic Over New UK Coronavirus Strain, Says India’s Health Minister
India’s health authorities remain vigilant and prepared to deal with a new more transmissible strain of the coronavirus identified in…
External Reserves Shed $567m In 2wks
The nation’s external reserves fell by $567 million in the first two weeks of this month. According to the latest…
COVID-19: Denmark Joins Growing List Of Countries To Ban Travel From UK Over Mutated Strain Fears
Countries around the world have imposed restrictions on travel from the UK due to fears of a new strain of…
42 Microfinance Banks Lose Licences
The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 microfinance banks (MfBs). The affected banks have…
Canada Restricts Travel From U.K. Due To New Strain Of Virus That Causes COVID-19
OTTAWA — The Trudeau government is restricting travel from the U.K. in an effort to prevent a new strain of…
‘Mobile Money Providers Will End Poor Practices In Financial Sector’
For 2021, we are certain that the worst case of coronavirus is over and believe that we will not have…
Iraq Devalues Its Currency As Economy Unravels
Iraq devalued its currency by about 20% against the dollar as the cash-strapped government faces an economic crisis brought about…
Nigeria’s Forex Reserves Drops By $132.06 Million
NIGERIA’s foreign exchange (forex) reserves dropped by $132.06 million at the weekend as the apex bank continued to use the…
Dollar Climbs, Sterling Sinks As Coronavirus Lockdowns Stoke Haven Demand
The dollar climbed against major peers on Monday with investors seeking its relative safety as many countries tightened COVID-19 lockdowns.…
Tesla’s Elon Musk Asks About Converting ‘Large Transactions’ To Bitcoin
Elon Musk on Sunday asked about the possibility of converting “large transactions” of Tesla Inc’s balance sheet into bitcoin, according…
Offshore Investments By Oil Majors Plunge
OFFSHORE rig values have declined almost 42 per cent in the last 12 months, equating to a loss of around…
U.S. Dollar On The Verge Of Becoming A Problem Currency Again
The Dollar buckled again Thursday after wading knee-deep into losses against all majors in moves that risk making it a…
Concerns Over Rising Pirate Attacks At Gulf Of Guinea
There are concerns that the surge in cases of pirate attacks and kidnapping of crews on the Gulf of Guinea…
Bitcoin Adoption In Nigeria Soars As Central Bank Blocks Remittances In Naira
The Central Bank of Nigeria’s “Naira defense” policy is pushing more Nigerians towards Bitcoin and crypto adoption. Peer-to-peer (P2P) Bitcoin…
Oil Dips, Heads For Weekly Gain As Vaccine Rollouts Support
Oil dipped towards $51 a barrel on Friday though still headed for a seventh weekly gain in a row as…
NIS Confirms Upsurge In Emigration
The Nigeria Immigration Service (NIS) has confirmed the increase in the number of Nigerians struggling to travel overseas due to…
Foreign Investment Pours Into China Despite Trade War, Pandemic
For all the talk of an economic decoupling between China and the U.S. and its allies, foreign companies continue to…
Africans In Diaspora Seek To Be Included In The Continent’s Development Agenda
This was discussed at a meeting that took place in Nairobi this week attended by 150 Africans drawn from different…
Oil, Power Firms Owe Nigerian Banks N5.83tn – NBS
The debts owed by energy firms to Nigerian banks rose by N200bn to N5.85tn in the third quarter of this…
Wall Street’s Call For Yen At 100 Is Catching On At Japan Banks
– Wall Street and Japan’s largest banks are starting to see eye to eye on the yen’s outlook, saying its…
Naira Falls At Black Market As MMOs, PSPs Are Barred From Receiving Diaspora Remittances
Forex turnover rose by 9.6%, as the Naira’s exchange rate at the NAFEX window appreciated against the dollar to close…
OPEC To Increase Production
WHILE the most recent Petroleum Status Report tilted firmly into positive territory, the crude market has taken a cautious stance…