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Nigeria’s naira hit a record low of 321 to the dollar on the parallel market on Thursday, traders said, as importers desperate to meet their obligations scrambled for dollars. The central bank left its official rate unchanged at 197 naira to the dollar on its official interbank window. Tumbling global oil prices have battered Africa’s… […]Read More

Only the enhancement of Nigeria’s productive base and a tempering of the appetite for foreign goods can guarantee sustainable development, stakeholders say. The stakeholders, including Adams Oshiomhole, governor of Edo State, Bismarck Rewane, chief executive of Financial Derivatives Company, Moses Tule, director, Monetary Policy Department, Central Bank of Nigeria, (CBN), Issa Aremu,Deputy National President, Nigeria… […]

The Quest Tonye Cole Love…that word seems to be at the center of so much confusion in our world today. It’s at the heart of troubles in the home and the reason; it seems, for why marriages disintegrate. Love is blamed for the battles of the sexes and wherever peace is elusive on earth, the […]

Gemalto the world leader in digital security has been selected to provide its LinqUs Mobile ID platform to MTN Nigeria. This new project, operated for MTN in SaaS mode by Gemalto Allynis Services, marks the first commercial rollout of SIM based services delivering convenient mobile authentication for all mobile users. Compliant with the latest GSMA… […]

Kemi Adeosun, minister of finance, and Udo Udoma, minister of budget and planning, are expected to appear before the Senate and House of Representatives’ joint Committees on Appropriation to clarify issues on the controversies trailing the 2016 budget proposal. Tajudeen Yusuf, chairman, House Committee on Capital Markets and Other Institutions, who said this on Thursday, […]

  (1) Acumen Fund Acumen is a charity organisation incorporated in 2001 with seed capital fromthe Rockefeller Foundation, Cisco Systems Foundation and three individualphilanthropists. The Acumen Fund invests in entrepreneurs who have thecapability to bring sustainable solutions to big problems. In May 2014, The Acumen Fund co-invested $1.5 million in Esoko NetworksLimited (“Esoko”), a Ghanaian-built […]

“We should all fear Oilmageddon!”  That’s the word from CitiBank, which is SUPPOSED to be the voice of reason in these markets. When Banksters tell us to get out of something – it’s usually time to get in. Nattering Naybob had a very good summary of the weeks events, reminding us of my Wednesday warning that we were […]Read More

Submitted by Paul Rosenberg via Free-Man’s Perspective blog, Over the last few months a stream of articles have crossed my screen, all proclaiming the need of governments and banks to eliminate cash. I’m sure you’ve noticed them too. It is terrorists and other assorted madmen, we are told, who use cash. And so, to protect […]Read More

Neither USDJPY nor Japanese stocks can hold a bid in the early going in Asia markets which has dragged both into the red post-QQE2. Since Kuroda took over from The Fed by doubling down on his cunning plan in October 2014, Japanese stocks are down 11.4%, USDJPY is unchanged, and only Japanese bonds have made […]

Late last month, HSBC Holdings CEO Stuart Gulliver announced a global freeze on hiring and compensation in a move designed to help the bank cut some $5 billion in costs by the end of next year. To be sure, HSBC isn’t alone in seeking to roll back costs amid bouts of global market turmoil. As […]

Day after day we are told that the plunge in oil prices (just like the collapse in The Baltic Dry freight index) is a “supply” issue… it’s transitory and global demand is doing fine thank you very much. Sadly, as everyone really knows deep down inside their Keynesian hearts, this is utter crap and as […]Read More

By now all of our readers should be familiar with JPM’s head quant Marko Kolanovic whose unblemished track record of accurate market calls is not only second to none, but is the equivalent in absolute value terms of Dennis Gartman’s consistently wrong calls, which is why we won’t spend time introducing him. Instead we cut […]Read More