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…
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 (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…
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…
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…
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).…
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…
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…
The Federal Government, in a bid to check the high level of under-remittance of funds by revenue-collection agencies, has issued fresh guidelines for the computation of operating surpluses. The new guideline that will guide the preparation of the agencies’ financial…
Economic and financial experts have said that the country’s inflation rate may rise further to 20 per cent during the first quarter of this year from the current 18.4 per cent. They, however, said the inflation rate was expected to…
