Nigeria To Borrow $2.3bn From World Bank
Amidst growing concern over its soaning debt profile estimated at over $57.3 billion, the Federal Government yesterday hinted it was close to signing about $2.3 billion from the World Bank and the...
View ArticleNaira Records Little Gain Closes At 512/dollar
The naira recorded slight gain on Tuesday and closed at 512 against the United States dollar on the parallel market, a day after the Central Bank of Nigeria introduced a new foreign exchange policy...
View ArticleDollar Drifts As Impact From Fed Minutes And Mnuchin Fade Aussie Slips
The dollar drifted on Thursday as impact from the Federal Reserve’s policy meeting minutes and supportive comments from a top U.S. official faded, while the Australian dollar slipped in the wake of...
View ArticleNew Forex Policy Will Strengthen Naira
The newly introduced foreign exchange policy by the Central Bank of Nigeria (CBN) will help shore up the naira, an official of the bank has said. Mr Emmanuel Ukeje, the Special Adviser to the CBN...
View ArticleWeekahead – Africa-fx-nigerian Naira Seen Firming On The Black Market
The Nigerian naira is expected to gain on the black market in the days ahead while it is likely to weaken on the official interbank market as the central bank starts selling dollars to some private...
View ArticleAccess, Ecobank, First Bank, SCB Sell 71 Percent Of Fx In Two Months
Four Nigerian deposit money banks accounted for 71 percent of foreign exchanged sold in October and November 2016. The banks; Access, Ecobank, First Bank and Standard Chartered Bank (SCB) sold a...
View ArticleDollar Drops To N495 As BDCs Decry Exchange Rate Unhealthy Competition
The naira on Wednesday strengthened further to a record high of N495 since last week of trading above N500 per dollar at the parallel market following the new foreign exchange policy by the Central...
View ArticleCBN Reintroduces Charges On Cash Deposits, Withdrawals
The Central Bank of Nigeria had announced the reintroduction of bank charges on certain categories of cash deposits and withdrawals on Thursday. This came about three years after the apex bank...
View ArticleN20b Green Bond For 1.1m Beneficiaries
Nigeria plans to float Africa’s first sovereign green bond in March to raise N20 billion for environment-friendly infrastructure. To benefit are 44 universities and more than 1.1 million people in...
View ArticleThe Central Bank Strikes Back – Naira War
The Central Bank has found new muscle with the introduction of its new FX policy. The policy will see all banks receive a total of $20m weekly, to sell to the public at N375 /$1 thereby reducing the...
View ArticleHeavy Loss For Speculators As Dollar Continues To Fall
Speculators and naira traffickers have gotten their fingers severely burnt as the naira sustained its upswing against the U.S. dollar on the parallel market yesterday. It closed at N450/$, stronger...
View ArticleCBN Sells $180 Million Forex To Boost Liquidity
The Central Bank of Nigeria (CBN) yesterday released additional $180 million to the forex market to further ease business transactions in the country. The intervention was done in two phases – an $80...
View ArticleNaira Strengthens To N435/$ On CBN Dollar Glut
The naira continued to strengthen on the parallel market on Monday to close at N435 to the dollar, stronger than N450 to the dollar at which it closed last Friday, as the Central Bank of Nigeria (CBN)...
View ArticleFirstbank Launches Modern Lounge For Lagos International Airport’s
The First Bank of Nigeria has launched the FirstlLounge at the Murtala Mohammed airport, Lagos. Speaking at the event was the managing director, FirstBank Bank, Dr. Adesola Adeduntan who said, “our...
View ArticleFidelity Bank: Reiterates Support For Agric Value Chain Funding
Fidelity Bank Plc has pledged to support ongoing efforts aimed at strengthening Nigeria’s agricultural value-chain by providing innovative funding schemes and technical advisory services to Micro Small...
View ArticleCBN & NIBBS Reiterate Commitment To Cashless Policy
The Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement System (NIBSS) have reiterated their commitments towards ensuring that the objectives of the cashless policy in Nigeria are realised....
View ArticleFCMB Promotes Healthy Lifestyle
First City Monument Bank (FCMB) Limited has held series of activities to mark the 2017 edition of its Employee Health Week. The annual programme, which is primarily aimed at promoting healthy living...
View ArticleCBN Releases Corporate Governance Code For Other Financial Institutions
The Central Bank of Nigeria (CBN) has developed distinct governance codes of corporate governance for Other Financial Institutions (OFIs) under its supervision. These OFIs include primary mortgage...
View ArticleDevt Bank’ll Catalyse SMEs’ Growth
MINISTER of Finance, Mrs. Kemi Adeosun has stated that the Development Bank of Nigeria (DBN) is being positioned to galvanise the Small and Medium Scale Enterprises, SMEs, sector for the overall...
View ArticleCBN’s Reports On PMI Indicates Decline In Economic Activities
THE Central Bank of Nigeria, CBN, yesterday, released its Purchasing Managers Index (PMI) report for February, 2017 which indicated continued decline in economic activities, coming against the backdrop...
View Article