Nigeria Naira Hits Record Low On Futures Market For Five-Year Settlement
Nigeria’s naira hit a record low of 600 to the dollar on the futures market for five-year settlement on Friday,…
Why Prices Of Food Items Have Increased In Nigeria
Prices of food items have skyrocketed by as much as 30 per cent in many parts of Nigeria in the…
Diaspora Remittances: A Pathway For National Development
A pathway for national development depends on the recognition of how we entice, nurture and manage our second source of…
$35bn External Reserves Sufficient For Seven-Month Imports
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said Nigeria’s external reserves, which currently stand at…
Nigerian Supreme Court Upholds Oil Spill Award Against Shell
Nigeria’s Supreme Court dismissed an application by Royal Dutch Shell Plc’s local unit to review a $467-million award for damages…
Naira Appreciates To N390.25/$ At I&E FX Window
After being marred by heavy losses in the week, the exchange rate of the Naira against the United States Dollar…
Nigeria’s Economy Set To Grow 2% In 2021 – Central Bank Governor
Nigeria’s economy is set to grow by roughly 2% in 2021, its central bank governor said on Friday. Africa’s largest…
REPOST: The Money’s Not Coming Home: $690 Billion Remittance Risk
The amount of money migrant workers send to their home countries usually holds up well in a crisis. Not this…
WorldRemit Launches A New Price Drop On Transfers To Nigeria This Black Friday
WorldRemit, a leading global digital payments company, has announced the launch of its new zero percent pricing for international transfers…
Nigeria In Final Stages Of Talks For Loan From World Bank
Nigeria has fulfilled the conditions for a World Bank loan and is in the final stages of closing the deal,…
Nigeria Ranks 3rd Most Terrorised Country
The Global Terrorism Index (GTI) has shown that Nigeria witnessed an increase in Boko Haram terrorists’ attacks on military targets,…
Nigeria’s Banks Grapple With Covid-19 And Oil Price Slump
Nigeria has sunk into its second recession in less than five years as the Covid-19 pandemic and oil price crash…
Report: Companies Diverting Export Proceeds
A report by AZA Finance, an Africa-focused provider of currency trading solutions has attributed the pressure facing the naira on…
Nigeria Asks OPEC To Review Repercussions Of Output Strategy.
On the peculiar challenges facing the country amid its large population and immense deficit in infrastructure, the president [Muhammadu Buhari]…
Canadian Dollar Steadies As Oil Gives Back Some Recent Gains
The Canadian dollar was little changed against its U.S. counterpart on Thursday as the recent rally in oil lost some…
Crisis Looms As Rail Contractor Demolishes Port Exit Gate
Operations at the Apapa container terminal, operated by APM Terminals, were paralysed on Wednesday as the contractor handling the rail…
Kyari: It No Longer Makes Sense To Operate The Refineries
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, said the corporation deliberately shut down the…
Nigeria, Ghana, Others Move To Address Population Growth
Nigeria, Ghana and other West African countries on Thursday held a conference in Abuja to address human development issues on…
China’s Central Bank Could Intervene After ‘Glaring’ State-Firm Bond Defaults, Analyst Says
SINGAPORE — The People’s Bank of China (PBOC) could step in following a number of recent bond defaults by Chinese…
Dollar Poised For Weekly Losses On Improving Risk Sentiment
The dollar held steady in thin trade on Friday but was on track for weekly losses against a basket of…
Protect Nigerian Businesses In Your Country, Lawan Tells South Africa
Senate President Ahmad Lawan on Thursday urged the South African authorities to reciprocate the Nigerian Government’s gesture by ensuring that…
Crisis Hits Apapa Port As CCECC Demolishes Structures, Cripple Seaport Operations
Operations at the Apapa container terminal, operated by APM Terminals, were paralysed on Wednesday as the contractor handling the rail…
FG Approves N30bn For Roads To Niger Republic
ABUJA—THE Federal Executive Council, FEC on Wednesday approved contracts for construction of two roads from Sokoto and Jigawa States up…
General Gowon Denies Looting ‘Half Of CBN’
Nigeria’s former Head of State, General Yakubu Gowon, has denied ‘looting half of Central Bank of Nigeria (CBN),’ saying he…
We Deliberately Shut Down Refineries – NNPC GMD
The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, on Thursday said the country’s refineries were shut…
Nigeria: Smugglers Reign Large Despite Border Closure
As the Yuletide season approaches, more smuggled items — mainly foreign parboiled rice, tomato paste, frozen chicken and cars —…
Oil Falls To $47 As Fate Of OPEC+ Deal Uncertain
The international oil benchmark, Brent crude, pared some of its recent gains on Thursday as what seemed to be shaping…
Naira In Big Trouble, Falls To N495/$1 At Black Market
The attempt by the Central Bank of Nigeria (CBN) to discourage Nigerians from seeking forex at the parallel market seems…
Nigeria: BPE Hands over Afam Power Plant to Transcorp
The Bureau of Public Enterprises (BPE) has handed over the Afam Power Plant in Oyigbo Local Government of Rivers State…
Netherlands Returns Smuggled 600-Year-Old Ife Terracotta To Nigeria
The Kingdom of Netherlands on Thursday officially presented a smuggled Ife Terracotta antiquity dated to be at least 600 years…