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With ETF shorts falling to 2016 lows, WTI crude futures are surging once again (despite yesterday’s news that there will be no “production freeze.” Near $39, this is the highest since the first day of trading in 2016. Sending WTI crude to its highest since 2015… Average: Your rating: None

Earlier this week, when looking at the rapidly fraying dynamics in the all-important Treasury repo market, we explained that as a result of the unprecedented, record shortage of underlying paper, the repo rate for the 10Y has plunged to the lowest on record (and even surpassing it on occasion), the -3.00% “fails” rate, an unstable, […]

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. The Banco Central de Venezuela (BCV) wins the prize as the world’s worst central bank – at least for the time being.  Venezuela’s annual inflation has been in triple-digit territory for more than three years.  As the accompanying chart shows, […]Read More

5 Shares Share Tweet Share Share Email The Nigerian army said on Thursday that a wanted Boko Haram terrorist had been gunned down during a battle in Borno State. Colonel Sani Kukasheka Usman, the Acting Director Army Public Relations of the Nigerian army said in a statement that the wanted terrorist was killed when troops […]

2 Shares Share Tweet Share Share Email Nigerian authorities should immediately release magazine publisher Yomi Olomofe on bail, the Committee to Protect Journalists, CPJ, said on Thursday. Nigerian police detained Olomofe on Thursday evening in Lagos, after men he had accused of severely beating him in June 2015 alleged the publisher had assaulted and attempted […]

7 Shares Share Tweet Share Share Email Statement Senate President Saraki Announces Attendance at CCT-led trial -Prepared for Justice to Run Its Course at the Trial-Re-states belief in the rule of law-Announces application filed by his legal team The President of the Senate, Dr. Abubakar Bukola Saraki, seeks to inform the wider Nigerian public that […]

Punch CBN to borrow N1.07tn via treasury bills in Q2:The Central Bank of Nigeria is planning to borrow N1.07tn via treasury bills issuance in the second quarter of 2016. Senate, House disagree on NNPC restructuring:The two chambers of the National Assembly have disagreed with the Minister of State for Petroleum Resources, Ibe Kachikwu, over the […]

MTN Group has offered $1.5 billion to settle the $3.9 billion fine imposed on it by the Nigerian telecommunications commission (NCC) for missing a deadline to disconnect unregistered SIM card users, a document seen by Reuters shows. The company has been negotiating with the Government over a possible reduction of the fine and made a […]

The acting chief executive officer of the Nigerian Electricity Regulatory Commission (NERC), Anthony Akah, disclosed yesterday that a total number of 47,127 customers made complaints against 11 electricity distribution showing a high level of customer dissatisfaction in the Nigerian Electricity Supply Industry (NESI). Speaking at a training session on customer complaints handling organized for staff […]

The planned meeting between OPEC members which was set to take place in Russia on March 20 looks unlikely as Iran has not decided whether it would participate in the deal. According to Reuters, OPEC officials had earlier said a meeting would take place in Moscow on that date, potentially as the next step in […]

The Central Bank of Nigeria (CBN) office in Calabar was hit by an explosion this morning, which occurred inside the treasury department. According to reports, several people have been feared dead. The cause of the explosion cannot be ascertained for now. More derails to follow… The post above and its ensuing comments, if any, is […]

Police Public Relations Officer (PRO) in Lagos, Mrs. Dolapo Badmos, has confirmed the arrest of the Managing Director and Chief Executive Officer of Lekki Gardens, Richard Nyong and the construction company behind the collapsed five-storey building that killed at list 35 people on Tuesday due to the use of substandard materials during the construction of […]