consequent downward shift in the naira exchange rate to around N295 per dollar from N197.50 previously, severely impacted its cost of sales and was the primary driver behind the gross margin contraction. The performance has […]
With rising inflation, poor growth, declining consumer demand, high interest rate, and businesses struggling to post positive figures, the state of the economy is worrisome. The trend could worsen with a confirmation by the figures […]
To increase the volume of dollar in the market and stabilise the naira, the Central Bank of Nigeria (CBN) may compel banks to sell foreign currency proceeds of international money transfers to Bureaux De Change […]
In January 2016, the Central Bank of Nigeria announced that it had stopped, with immediate effect, the sale of foreign exchange to Bureau de Change operators, so as to reduce pressure on Nigeria’s foreign reserves. […]
Recession is defined by economists as two consecutive quarters of negative Gross Domestic Product growth rate in an economy. It is a confirmation that economic activities in a country have contracted. We believe by now, […]
It is believed that the Bank of England is in charge of world’s money supply. It appears that the history of this institution could reveal its secret. Well before the conflict for establishing a National […]
The sharp and steady depreciation of the Naira at the inter-bank foreign exchange market in the last one week has forced the Central Bank of Nigeria, CBN, to intervene yesterday to stem the slide. The […]
Skye Bank continued its resurgence for the second day running as the share stood as the best performer on the Nigerian Stock Exchange (NSE) on Tuesday morning. The share price gained over nine percent to […]
Today marks almost four months to the day I started this column on March 20, sharing my perspective weekly on various leadership subjects. Since that day, I have received loads of compliments from many of […]
Former president, Olusegun Obasanjo, has faulted government’s direct involvement in agribusiness, saying such involvements won’t work because they are drain pipes for public funds. Obasanjo stated this while delivering a lecture at the University of […]
BIG cash crunch has hit Nigeria – no thanks to poor returns from oil and the inability of revenue agencies to meet their targets. The implementation of the budget has taken a hit, Budget Minister […]
Barring any last minute change in plans, an amicable resolution of the ownership crisis surrounding the Ajaokuta Steel Complex might be reached early August when the Nigerian government and Messrs Global Steel Holdings Limited, and […]
This year marks the 50th anniversary of the introduction of credit card – a banking innovation and revolutionary product which allows consumers to buy with monies they had not yet earned and pay later. The […]
Brexit has already killed off one big investment in the U.K. Richard Branson, the billionaire founder of Virgin Group, said his company had ditched a planned acquisition after the U.K. voted last Thursday to leave […]
ConOil, owned by Nigeria’s second richest man is being pursued for a combined debt of over $140.5 million by two foreign and one local companies, PREMIUM TIMES has learned. Despite making several pledges to pay, […]
The Asset Management Corporation of Nigeria (AMCON) yesterday took over the assets of three firmss belonging Silberbird Group – the famiily firm of Senator Ben Murray-Bruce (Bayelsa East). Affected are Silverbird Galleria Limited, Silverbird Promotions […]
The Nigerian naira has attained apparent stability at the interbank market, trading at N283 for the better part of Tuesday. The naira opened at 253 to the greenback on the new official market in Monday, […]
Mr Adebayo Shittu, Minister of Communications has disclosed that the $5.2billion fine slammed on telecommunication giant, MTN, was reduced to encourage foreign investments into the country. Shittu disclosed this on Sunday in Ibadan at an […]
The Indian arm of South Korea’s LG Electronics Inc has begun selling a TV with a feature that it says repels mosquitoes, which can spread diseases such as malaria, Zika and dengue. The TV’s “Mosquito […]
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