Finance

The Central Bank of Nigeria may have devalued the Naira by as much as 15 per cent as it seeks a single exchange rate instead of the often criticised multiple rates. An indication that the Naira has been devalued came when news filtered…

The international oil benchmark, Brent crude, halted its losing streak on Thursday, trading around $28 per barrel as the United States President, Donald Trump, said he might intervene in the price war between Saudi Arabia and Russia. …

The naira exchanged to the dollar for between N372 and N374 at the Bureau De Change segment of the market on Thursday. The naira had recently suffered some beating due to the impact of the coronavirus in the global economy, which led to…

Many people have been feared dead and over 70 houses destroyed in Sunday’s pipeline explosion which rocked Abule Ado area of Ojo, Lagos, Southwest Nigeria. A massive explosion was heard on Sunday morning, accompanied with thick smokes…

From New York to Paris, Sao Paulo to Hong Kong the losses are unprecedented for the world’s wealthiest. The world’s 500 richest people collectively lost $331 billion on Thursday, the biggest one-day drop in the eight-year history of the…

Through the implementation of various public sector financial management reforms, over N700bn had been saved by the Federal Government. In addition to the N700bn savings, about N300bn had been recovered by the anti-graft agencies of…

Nigeria may be home to a quarter of the world’s population of poor people in the next ten years if viable economic policies are not put in place, the World Bank said on Monday. “Under a business-as-usual scenario, where Nigeria…

The chairman of the Senate Committee on Local and Foreign Debt in the 8th National Assembly, Senator Shehu Sani, has explained why the federal parliament rejected President Muhammadu Buhari’s request for a $29.96bn loan request last year. …

The Federal High Court in Lagos has fixed December 11 for the re-arraignment of a former Speaker of the Lagos State House of Assembly, Adeyemi Ikuforiji, and his aide, Oyebode Atoyebi. Ikuforiji and Atoyebi are facing 54 counts of money…

The Reserve Bank of Zimbabwe is to introduce a new currency in November, a member of the bank’s Monetary Policy Committee, said on Thursday. Eddie Cross, a renowned economist, who made this known in an interview with State broadcaster…