Business

Oil prices gain on U.S. fuel drawdown despite rising COVID-19 cases

Oil prices climbed on Wednesday after industry data showed U.S. crude and product stockpiles dropped more than expected last week, bolstering expectations that demand...

Nigeria’s capital importation fell to $875.62m in Q2

The total value of capital importation into Nigeria declined to $875.62m in the second quarter of 2021 from $1.91bn in the first quarter of 2021. The National Bureau of...

Bitcoin rises above $40,000, first time since mid-June

The world’s largest cryptocurrency by market capitalisation, Bitcoin, has surged above $40,000, for the first time since mid-June. The price of the cryptocurrency...

CBN bans sales of forex to Bureau De Change operators

The Central Bank of Nigeria (CBN) has banned the sale of dollars to Bureau De Change operators (BDCs) in a bid to curb illegal financial flow in the country. Governor of...

AMCON Takes Over NICON Insurance, Nigeria Re

The Asset Management Corporation of Nigeria (AMCON) says it has taken over the major interests in NICON Insurance Limited and the Nigeria Reinsurance Corporation...

Ex-Glencore Trader Pleads Guilty to oil bribery scheme in Nigeria

A former United Kingdom-based trader for Glencore Plc, Anthony Stimler, has pleaded guilty to participating in an international scheme to bribe Nigerian officials in...

Oil inches up as tight supply, outweighs virus spread

Oil prices rose on Tuesday with investors betting tight supply and rising vaccination rates will help offset any impact on demand due to surging COVID-19 cases...

Buhari signs 2021 Supplementary Appropriation Bill

President Muhammadu Buhari has signed the N982bn 2021 Supplementary Appropriation Bill into law. The Senior Special Assistant to the President on National Assembly...

FG extends NIN-SIM verification to October 31

The Federal Government has again extended the deadline for National Identification Number and SIM data verification to October 31. This was disclosed in a statement...

Okonjo-Iweala tasks Africa on producing COVID-19 vaccine

The director-general of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has expressed concern over the reliance of Africa countries on developed countries for...