The Governors of Kwara, Taraba, Ondo, and Kogi converged on the Abuja headquarters of the Federal Ministry of Agriculture and Food Security, highlighting the urgent need to enhance crop production…
Tag: business
Gold Faces Downward Pressure Despite Surging To $2,060 – TD Securities Anticipates Correction Amidst Strong US Job Data
Gold, which recently reached heights surpassing $2,060, witnessed a sharp decline in response to a robust US labor market report, highlighting the metal’s vulnerability to economic indicators. TD Securities experts…
CBN Governor Reveals $2.4 Billion Forex Scandal, Vows No Payment For Illegitimate Transactions
Dr Olayemi Cardoso, the governor of the Central Bank of Nigeria, unveiled a startling revelation regarding the $7 billion foreign exchange backlog inherited upon taking office. Cardoso in an interview…
US Job Surge Puts Pressure On AUD/USD; RBA Decision Looms
The AUD/USD pair faces renewed selling pressure as robust US job data prompts speculation of prolonged Fed interest rate hikes. The US economy added 353,000 jobs in January, exceeding expectations,…
Forex Liquidity Surge As Banks Rush To Comply With CBN’s New Regulations
In a surprising turn of events, the official foreign exchange market witnessed a 180.59 percent surge in dollar supply, reaching a remarkable $440.13 million on Friday. The naira closed the…
U.S. Oil Production’s Uncertain Trajectory Amidst Middle East Turmoil
In the aftermath of last October’s conflict between Hamas and Israel, oil prices initially surged but quickly retreated, thanks to resilient U.S. oil production. However, recent developments, including Saudi Arabia’s…
NGX Continues Bullish Run As ASI Appreciates By 1.57%
In a surge, the Nigerian Stock Exchange (NGX) maintained its bullish momentum, propelling the All-Share Index to a 1.57% gain, closing at 104,421.23 points. Dangote Sugar took the lead with…
Sell Excess Dollar In 24hrs, CBN Orders Banks
In a move to stabilize the nation’s exchange rate, the Central Bank of Nigeria (CBN) has issued a directive compelling Deposit Money Banks to sell their excess dollar stock by…