eNaira Speed Wallet Back On Google Store
The eNaira Speed Wallet app is back on Google Store 24 hours after a technical outage. The app had bagged more than 100,000 downloads before the sudden disappearance on Wednesday. However, the app had met with criticism as users battled to link their emails and BVNs. The spokesperson for the Central Bank of Nigeria (CBN), […]
Evergrande Makes Coupon Payment Before Friday Deadline
Developer China Evergrande Group has made an interest payment for an offshore bond before a grace period expired on Friday, two people with direct knowledge of the matter said, narrowly averting a catastrophic default for the second time in a week. Evergrande, once China’s top-selling developer, is reeling under more than $300 billion in liabilities, […]
Alphabet Beats Expectations On Google Ad Spike
Google owner Alphabet Inc on Tuesday beat expectations for third-quarter revenue, a positive sign that its advertising business is overcoming new limits on tracking mobile users and sending its shares up slightly. Through its search engine, YouTube video service and partnerships across the Web, Google sells more internet ads than any other company. Demand for […]
Interbank Liquidity Falls By 72% As Shortage Of Funds Worsens
The scarcity of funds in the interbank money market worsened last week, with market liquidity falling by 72 percent to N56.3 billion. According to a Financial Vanguard analysis of data from the Central Bank of Nigeria, the amount of liquidity (Opening balance) dropped to N56.3 billion on Friday last week from N200.64 billion the week […]
Nigeria’s Debt-to-GDP Ratio Expected To Reach 42% By 2026 – IMF
Nigeria’s government gross debt to Gross Domestic Product ratio is expected to climb to 42 percent by 2026, up from 35.7 percent in 2021, according to the International Monetary Fund. This was stated by the IMF in its Fiscal Monitor Report for October 2021, which was published on its website. According to the report, the […]
IMF Issues Warning To Debtor Countries On Their Expenditures
Following a spike in debt loads last year as a result of the pandemic, governments must now ‘calibrate’ spending, according to the IMF. According to the International Monetary Fund’s Fiscal Monitor report, global debt in 2020 “jumped by 14% to a record-high $226 trillion,” encompassing public and private borrowing. According to Vitor Gaspar, director of […]
Port Of Los Angeles Going 24/7 In Effort To Ease Supply Chain Bottlenecks Before Holidays
President Joe Biden tried to reassure Americans on Wednesday that he can tame high inflation, announcing a deal to expand operations at the Port of Los Angeles as prices keep climbing and container ships wait to dock in a traffic jam threatening the U.S. economy and holiday shopping. Prices are jumping in large part because […]
‘Squid Game’ Strikes Nerve In Debt-ridden South Korea
“Squid Game,” a brutal Netflix survival drama about desperate adults competing in deadly children’s games for a chance to escape severe debt, hit a little too close to home for Lee Chang-keun. The show has captivated global audiences since its September debut on its way to becoming Netflix’s biggest hit ever. It has struck raw […]
NNPC Missing As China, Saudi Arabia Top World’s Biggest Oil Revenue Earners In 2021
The Nigerian National Petroleum Corporation (NNPC) has failed to make the latest list of the world’s highest income-grossing oil companies, both nationally-run and privately-owned. The list was compiled from the organisations’ 2020 audited financial statements. But NNPC on Sunday said although the repair of roads was not within its direct purview, it was willing to […]
At $42bn, Nigeria’s External Reserves Hit 25-month High On Eurobond Inflow
Nigeria’s external reserves have risen to its highest level in 25 months to $42 billion presently due to the inflow of the recent Eurobond issued by the federal government. Although, the Central Bank of Nigeria’s (CBN) latest update on its website showed that as of October 7, 2021, the Eurobond had grown by $3.587 billion […]
