Category: Local News

Oil rises above $48 on COVID-19 vaccine hope

7 ViewsThe international oil benchmark, Brent crude, rose above $48 per barrel on Wednesday, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. Brent, against which Nigerian’s oil is...

ABCON: $35.6b foreign reserves enough to defend naira

21 ViewsThe $35.6 billion foreign exchange reserves is enough to protect naira against attacks by currency speculators forcing the local currency to depreciate. President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu...

CBN retains lending rate at 11.5%

22 ViewsThe Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent. It also left other parameters the same. The CBN Governor, Godwin Emefiele, disclosed...

NAICOM profiling companies with huge unsettled claims

29 ViewsThe Commissioner for Insurance, Mr Sunday Thomas, has said the National Insurance Commission is profiling companies with huge unsettled claims. He spoke in Lagos on Tuesday, during the 2020 Insurance Director’s Conference in...

Oil prices extend gains on COVID vaccine hopes

31 ViewsOil prices extended their gains on Monday as traders were optimistic about a recovery in crude demand thanks to successful coronavirus vaccine trials, but price gains were contained by renewed lockdowns in several...

Insurance sector contracts by 16.54% in Q3

32 ViewsThe insurance sector contracted by 16.54 per cent in the third quarter of 2020 financial period, latest figures from the National Bureau of Statistics have shown. The NBS revealed on Saturday that the...

We begged people to buy oil at $9 – NNPC

48 ViewsThe Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, said buyers were begged to purchase the Nigerian crude oil at $9 per barrel in April. The global oil benchmark,...

Zenith Bank records N509bn gross earnings

41 ViewsZenith Bank Plc has announced its unaudited results for the nine months ended September 30, 2020 with gross earnings rising by four per cent to N509bn from N491bn in the same period of...