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Monday, May 20, 2019

Naira Tumbles to 402 on Dollar Scarcity

The naira tumbled to 402 at the parallel market on Wednesday, a day after the Central Bank of Nigeria banned nine banks from the...

World Bank earmarks $800m for Rebuilding N’East

The World Bank is setting aside $800 million in support of the rebuilding of infrastructure devastated by years of Boko Haram insurgency in the...
cbn

Credit To Private Sector Rises By N633bn In February

Credit To Private Sector Rises By N633bn In February     Credit to private sector rose by N633 billion to N22.6 trillion in February, surpassing credit to...

DMO Resumes Monthly Auctions, Offers N75bn FGN Bonds

The Debt Management Office (DMO) has resumed its monthly bond auctions, offering a total of N75billion FGN bonds, made up of N20billion for the...

In Search for Single, Viable Exchange Rate Regime

The Central Bank of Nigeria, CBN, in June 2016 formally unveiled the much-awaited flexible foreign exchange policy that would allow the foreign exchange interbank...

Expert Worry As 211 Nigerian Oil Blocks Remain Idle

Expert Worry As 211 Nigerian Oil Blocks Remain Idle More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude...
Mounir Gwarzo Oando Kemi Adeosun

Capital Market Scandal: Oando’s Inquiry by SEC Reveals Breach of ISA Act 2007- Investigations

Capital Market Scandal: Oando’s Inquiry by SEC Reveals Breach of ISA Act 2007- Investigations As the nation awaits the result of the Administrative Panel of...

Loots: Breakdown of Recovery of N78bn, $185mn, £3.5mn, €11,000

The Federal Government made cash recoveries totaling N78,325,354,631.82 (Seventy-eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty-one...
cbn

Naira Stabilises at N284 after CBN’s $100m Intervention

The Nigeria's Naira stabilises at N284.83 to a dollar on the second day of trading on the interbank spot market on Tuesday, though against...
Naira Dollar

Naira Extends Gain on Parallel Market

The naira continued on the path of appreciation on the parallel foreign exchange (FX) market monday as it closed at N455 to the dollar,...

CBN Appoints New Executive Directors For Three Banks

The Central Bank of Nigeria has announced the appointment of new Executive Directors for Bank PHB, Spring Bank Plc and Equitorial Trust Bank Limited...

FX scarcity: $575m Airlines Ticket Revenue Trapped

As the crisis surrounding access to foreign exchange exacerbates, foreign airlines operating in Nigeria have in excess $575 million, as at the end of...

Incessant Sell-offs Drag Market Index 1.18% Lower

Incessant Sell-offs Drag Market Index 1.18% Lower   Persistent sell-offs witnessed in the nation’s stock market last week dragged the All-Share Index lower by 1.18 per...

Kano Industrialists Get N24bn from BoI

The Managing Director, Bank of Industry, Mr. Olukayode Pitan, says the bank has provided a total of N24billionn to industrialists in Kano State. He gave...

Gas-fired Buses Expected To Save Nigeria $2.5bn Annually

Gas-fired Buses Expected To Save Nigeria $2.5bn Annually The planned introduction of gas-fired buses is expected to save Nigeria over $2.5bn annually, by reducing the...
Naira Dollar

Naira Crashes Further to N452/$ on Parallel Market

The naira continued to crash on the parallel FX market on Tuesday as it fell to N452 to the dollar, lower than the N445...

FAAC Distributes N387.771bn for December

A total sum of N387.771bn (three hundred and eighty-seven billion, seven hundred and seventy-one million naira) was distributed in January by the Federation Account...
cbn

Nigeria’s Foreign Reserves Hit $46 Billion

Nigeria’s Foreign Reserves Hit $46 Billion   Nigeria’s Foreign Reserves are steadily heading towards the $50 billion mark, berthing at $46 billion as at the close...

Dollar and Duty Tour Allowance for Legislators in Nigeria and Other Privileges

Because of popular demands of Nigerians to know the actual and official duty tour allowances for local and foreign travels of their legislators at federal,...
Godwin Emefiele CBN Governor

Assessing CBN’s Economic Diversification Strategy

The Nigerian economy, prior to the advent of petro-dollar (oil boom) years of the 1970s was basically agricultural based. Agriculture contributed about 65 per cent...