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8 Views The drop of Nigeria’s oil and gas export caused by COVID-19 pandemic will lead to the loss of $26.5 billion, the International Monetary Fund (IFM) has said. A released transcript of the video conference calls between the global financial institution team and Vice President Yemi Osinbajo shows Fund officials explaining that the sharp […]

4 Views The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said the Federal Government will focus on stabilising the economy once the coronavirus pandemic is over. She said this on Thursday via the Twitter handle of the Ministry of Finance. In a series of tweets, Zainab said the medium-term macroeconomic stability […]

4 Views The Central Bank of Nigeria in consideration of the impact of the COVID-19 pandemic on economic activities has revised the deadline for compliance with the minimum capital requirements for microfinance banks in Nigeria. The banking regulator communicated this in a circular with reference number FPR/DlR/GEN/ClR/07/054 entitled ‘Re: Review of minimum capital requirements for […]Read More

27 Views Indications have emerged that the International Monetary Fund is to conduct a due diligence exercise on the Central Bank of Nigeria as part of a fresh ‘safeguards assessment’. The new safeguards assessment is a fallout of the $3.4bn emergency financial assistance the IMF gave to the Federal Government to address the economic impact […]

7 Views U.S. President Donald Trump said on Thursday his hard-fought trade deal with China was now of secondary importance to the coronavirus pandemic and he threatened new tariffs on Beijing, as his administration crafted retaliatory measures over the outbreak. Trump’s sharpened rhetoric against China reflected his growing frustration with Beijing over the pandemic, which […]

8 Views U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500’s best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic. While risk-off […]

0 Views Oil prices jumped on Friday, extending the previous session’s gains, buoyed by a lower-than-expected gain in U.S. crude inventories and the start of output cuts in a bid to offset a slump in fuel demand triggered by the coronavirus pandemic. Brent crude for July delivery, which started trading on Friday as the new […]

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16 Views The Nigerian equities market today (Thursday) closed positively, extending the previous positive momentum to five consecutive trading days, as investors wealth increased by N79.53 billion, following value appreciation on bellwether stocks like MTNN, ACCESS and 19 others. Consequently, the market breadth closed positively, recording 21 gainers as against 13 losers.   NSE Trading […]