Global Economy Will Shrink By More Than 4% In 2020
Economic experts predict that the coronavirus pandemic will result in a 4.4% contraction in the global economy in…
Virus Wipes N939bn Off Wealth Of Nigeria’s Biggest Firms’ Shareholders, But A…
The biggest shareholders of Nigeria’s 30 largest firms lost a whopping sum of N939 billion combined in the first…
Naira Stabilizes Across Forex Markets As BDCs Get Over $450m Allocation From CBN…
The Naira remained stable against the dollar at the I&E window on Tuesday, closing at N386/$1
Nigeria’s…
Canadian Dollar Gains Ground As Calm Returns To Wall Street
The Canadian dollar strengthened against the greenback on Wednesday as calm returned to stock markets after they…
US Arbitration Tribunal Frees Nigeria Of $1.5bn Liability
Nigeria has again won another international legal battle as the United States-based International Centre for…
COVID-19: International Borders And Need To Keep Nigerians Safe
Nigeria’s international borders re-opened on September 5, 2020. This came months after international and land…
Dollar, Yen Dip As U.S. Stimulus Hopes Help Risk-On Mood
The dollar and safe-haven Japanese yen nursed losses on Thursday, after revived hopes for U.S. fiscal stimulus…
Container Shipping Operations From China To Onitsha Resume
Global shipping line, Maersk resumed services from China to Onne Port (by ship) this year, and this week, it has…
European Gasoline Margins Hit 7-Month High On Exports, Maintenance
European gasoline barge profit margins hit a seven-month high this week, boosted by firm export demand from West…
Worries Over $2b Forex Demand Backlog
Fitch Ratings has expressed concerns about the state of the naira and rising forex demand backlog estimated at $2…
World Bank Sees Sub-Saharan Africa’s GDP Rebounding In 2021
Sub-Saharan Africa will probably reverse an economic contraction next year as countries in the region begin to ease…
CBN Disburses $13.99bn Forex In Six Months
The Central Bank of Nigeria supplied $13.99bn into the market between January and June.
The bank disclosed this…
Oil Rises Above $42 On Supply Losses, U.S. Stimulus Hopes
Oil rose above $42 a barrel on Thursday, supported by output shutdowns in the U.S. Gulf of Mexico and the prospect…
Dubai-Bound Passenger Held With 5,342 ATM Cards
A man has been arrested with 5,342 Automated Teller Machine (ATM) cards at the Aminu Kano International Airport,…
Europe’s Major Economies Predict More Dire Declines To Come As Coronavirus Rages
LONDON — Major European economies are downgrading already dire economic forecasts on the back of a second wave of…
Analysts Fault Fitch’s Stable Outlook On Nigeria
Analysts at Afrinvest Securities have faulted the recent upgrade of Nigeria’s macroeconomic outlook to stable by…
Naira Stable At Investors Window Amid 0.5% Rise In FX Demand
The value of the Naira against the Dollar at the Investors and Exporters (I&E) segment of the foreign exchange…
Billionaire Wealth Smashes Records During COVID-19
Global billionaire wealth smashed record levels during COVID-19 breaching the $10tn (£7.7tn) mark for the first…
Nikola Founder Trevor Milton Sues Utah Businessman For Defamation Over Tweets…
Nikola founder Trevor Milton has sued a Utah businessman for defamation, accusing him of a “malicious campaign to…
Fed’s Kashkari Warns That Delaying Stimulus Will Have ‘Enormous Consequences’
Minneapolis Federal Reserve President Neel Kashkari became the latest central banker to warn against not getting…
Worries Over $2b Forex Demand Backlog – Nigeria
Fitch Ratings has expressed concerns about the state of the naira and rising forex demand backlog estimated at $2…
Investors Gain N297bn As 36 Stocks Push Market Higher
Investors in the Nigerian equity market gained N297bn on Monday as 36 firms recorded price appreciation at the end…
Nigeria Aims To Revamp Refineries, End Oil-For-Fuel Swaps
Nigeria aims to end the country’s so-called oil-for-fuel swaps system in the near future and rely instead on oil…
Dollar Weaker As U.S. Fiscal Stimulus Hopes Lift Risk Appetite
The dollar was on the defensive against most currencies on Tuesday as rising optimism that U.S. lawmakers could…
F.G Considers Tax Holiday For Maritime To Cushion COVID-19 Effect
Poised to stimulate investment and boost activities amid the downturn induced by COVID-19, the Federal Ministry of…
Nigeria Battles Covid-19 With New Small Business Support Fund
Nigeria will help cushion small business owners impacted by the coronvirus with grants from a 75 billion naira…
The Plantation City In Warri Enters Nigeria’s Premium Real Estate Market
Nigeria's real estate hubs are listed as Lagos, Abuja and Port Harcourt. Well, that was before The Plantation City,…
2021 Budget: Expert Tasks FG On Monitoring, Evaluation For Enhanced Performance
A financial expert, Dr Glenn Prince-Abbi, on Monday urged the Federal Government to map out strategies for proper…
Foreign Reserves Face Further Decline As Export Revenue Crisis Worsens
Nigeria’s international reserves, which opened at $38.100bn in January, 2020 may face further decline before the…
Nigeria’s Foreign Borrowings Surge By Over 400% In 10 Years
Nigeria's foreign borrowing in the past 10 years has ballooned more than five-folds, an analysis by TheCable has…