The nation’s external reserves have risen by 15 per cent in the past three months; the latest data from the Central Bank of Nigeria have shown. Specifically, the foreign exchange reserves increased by $3.6bn from $23.8bn on October 19, 2016…
Category: Finance
Rosabon Emerges MEA 2016 Winner For Bespoke Wealth Management Services
Rosabon Financial Services, Nigeria’s leading Non-Banking Financial Intermediary firm has once again recorded another global success as it recently clinched the MEA Business Award for Leading Experts in Bespoke Wealth Management Services. The 2016 MEA Business Award which focuses on…
Tobacco costs global economy $1trn annually —WHO
A study has revealed that tobacco costs global economy more than $1 trillion annually. The study, The economics of tobacco and tobacco control, conducted by the World Health Organization (WHO) and the National Cancer Institute of the United States of…
Nigerian economy to grow by 1% in 2017 —World Bank
Nigeria will get out of recession, and grow its gross domestic product (GDP) by one per cent in 2017, according to a global economic report by the World Bank. In a report released last Tuesday, January 10, 2016, the World…
Efritin shuts Nigeria office, blames bad economy
Efritin (pronounced ‘Everything’) has stopped further investments in Nigeria and has wound down operations, just 16 months after its official launch. Investigation showed that high cost of data and operational demands forced the e-classified advert player to close shop. The…
Naira on a free fall as it crashes to nearly 500/Dollar in open market
The Nigerian naira fell close to 500 against the dollar on the unapproved open retail market due to dollar shortages on Friday as retail currency operators set their quotes for dollar purchases at 399 for next week, traders said. Bureau…
FDC Predicts further depreciation of the Naira
Under the current market regulatory framework, the naira is bound to remain under pressure and unstable until the market is allowed to operate freely and efficiently. This was disclosed by a group of analysts at Financial Derivatives Company (FDC) Limited…
FG To boost Agric earnings
With substantial boost in production of many agricultural produce and traders from central and North African countries flooding Nigeria to import commodities, the Federal Government (FG) is moving to maximize its advantage by resuscitating the moribund Nigeria Commodities Exchange (NCX).…
External reserves rise further to N26.2bn
The country’s external reserves rose to $26.2bn on January 4, 2017, up from $25.8bn on December 30, 2016, the latest data from the Central Bank of Nigeria showed on Thursday. The data also showed that the foreign exchange reserves ended…
Shell battles Nigerian communities in high-stakes London lawsuit
A court in London will decide in coming weeks whether Royal Dutch Shell can face trial in the UK over oil spill allegations in Nigeria, a decision some legal experts predict could attract more cases against multinationals in Britain. The…
