Category: Business
Rewane Highlights Factors to Propel Nigeria’s Growth in 2021
As Nigeria beams searchlight on ways to recover from the current economic recession, the Chief Executive Officer of Financial Derivatives Company (FDC) Limited, Mr....
CBN: Naira recovery against dollar to begin February 2021
•Firms envisage higher interest rates from January THE Central Bank of Nigeria (CBN) has said the naira will begin recovery against the dollar and other global...
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The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 microfinance banks (MfBs).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 been shut down. The Nigeria Deposit...
Govt halts retrenchment of 300 Arik Air staff
The Federal Government on Thursday said the over 100 per cent hike in domestic airfares was inevitable, describing it as one of the consequences of the COVID-19...
Naira exchanges for N474/$
The naira exchanged to the dollar in the parallel market at N474/$ on Thursday. The naira which recorded slight improvement in recent days closed at the Importer &...
Operators give investment conditions as pension funds hit N11.57tn
The Pension Funds Operators Association of Nigeria has said Pension Fund Custodians and Pension Fund Administrators will obey the guidelines given to them by the...
Naira devaluation risky for foreign currency loans, says report
The devaluation of the naira against global currencies will impact negatively on foreign currency loans and weaken capital base for the lenders, banking sector report...
Petrol price may hit N180 as oil nears $50
The pump price of Premium Motor Spirit , popularly known as petrol , may hit N 180 per litre this month , according to marketers, as oil prices extended their rally on...
RECESSION: Experts blame COVID-19, #EndSARS; foresee job losses, reduced purchasing power
Nigeria has formally entered its second economic recession in five years as the severe impact of the COVID-19 pandemic on global crude oil prices and restrictions...
Nigeria to resume fuel imports from Niger Republic
Nigeria, Africa’s biggest oil producer, is set to resume the importation of petroleum products from a neighbouring country, Niger Republic. The Ministry of Petroleum...
