Naira Improves On Parallel Market, Sells At ₦501/$

The new foreign exchange policy introduced by the Central Bank of Nigeria strengthens the Naira on the parallel market on Wednesday. The local currency which traded N512 to a Dollar on Tuesday, gained N11 to close at N501 against the US dollar, and stronger than N520 it traded on Monday. Traders also noted that the… Read More Naira Improves On Parallel Market, Sells At ₦501/$

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GOOD NEWS: 24 Hours After New Policy, CBN Injects $371m Into Forex Market

About 24 hours after The Central Bank of Nigeria (CBN) announced fresh policy actions in the foreign exchange market, the bank has pumped $370.9 million into the forex market. On Tuesday, the apex bank carried out wholesale interventions in the interbank forex market by trading a total of $370,810,810.79 to 23 banks “to meet the… Read More GOOD NEWS: 24 Hours After New Policy, CBN Injects $371m Into Forex Market

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EXCLUSIVE: Guinness Nigeria denies PharmaDeko’s debt claims

Guinness Nigeria Plc in Friday says it has responded to a court process at the instance of Pharma Deko Plc which alleged that the company was contractually indebted to Pharma Deko Plc in the sum of N175. 7m. The Corporate Communications Manager, Guinness Nigeria Plc, Mr. Sesan Sobowale, said in a statement in Lagos that… Read More EXCLUSIVE: Guinness Nigeria denies PharmaDeko’s debt claims

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Akinwunmi Ambode targets 3000MW 24-hr power generation for Lagos

– …Says FG Can’t Solve Nation’s Energy Sector Challenges Alone – …32 Communities In Badagry To Be Connected To National Grid By March Lagos State Governor, Mr. Akinwunmi Ambode on Wednesday said the quest by the country to achieve energy security can no longer be left for the Federal Government to address alone, just as… Read More Akinwunmi Ambode targets 3000MW 24-hr power generation for Lagos

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Asia stocks, euro pressured by economic, political uncertainty

Appetite for Asian stocks and the euro ebbed on Tuesday as a rising tide of economic and political concerns added to anxiety over expectations China’s foreign exchange reserves fell again in January. European stocks look set for sluggish start, with financial spreadbetter CMC Markets expecting Britain’s FTSE 100.FTSE to open up 0.1 percent, France’s CAC… Read More Asia stocks, euro pressured by economic, political uncertainty

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CBN to increase list of banned imported items (Read full details)

Central Bank of Nigeria's (CBN) governor Godwin Emefiele. / AFP PHOTO / PHILIP OJISUA • Insists On Regulated Forex Floatation • Expert Says Multiple Exchange Rates • Encourage Rent-Seeking, Round Tripping  Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has insisted on regulated foreign exchange regime to ensure that the naira does not go… Read More CBN to increase list of banned imported items (Read full details)

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Volkswagen recalls nearly 600,000 Audis in US (Read full details)

Volkswagen German carmaker Volkswagen will recall nearly 600,000 vehicles in the United States, most of them its premium Audi brand, over defects that could lead to fires or airbag malfunctions. However no fatalities related to the problems have yet occurred in the country, the National Highway Traffic Safety Administration (NHTSA) said on its website Saturday.… Read More Volkswagen recalls nearly 600,000 Audis in US (Read full details)

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Banking sector records over 910m transactions worth N65trn in 2016 (Read full details)

CBN building The National Bureau of Statistics (NBS) said a total volume of 910,186,115 transactions valued at N65.16 trillion were recorded in 2016 as electronic payment in the banking sector. This statistics is contained in a “Selected Banking Sector Data for 4th Quarter 2016’’ released by NBS in Abuja. The report stated that ATM transactions… Read More Banking sector records over 910m transactions worth N65trn in 2016 (Read full details)

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Total Nigeria Plc reassures customers on pump accuracy (Read full details)

The Managing Director/Chief Executive Officer, Total Nigeria Plc, Jean- Phillipe Torres, has reassured customers nationwide on pump dispensation accuracy in all its service stations. Torres, who gave the assurance in Lagos, during the company’s Top Service Week at the Onigbagbo Service Station, Ikeja, said the oil marketing company was strict and conscious about issues of… Read More Total Nigeria Plc reassures customers on pump accuracy (Read full details)

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