archiveJuly 25, 2016

The nation’s currency, Naira slipped 2.5 per cent to a new closing low of 310 per dollar on Monday, failing to lure in local investors or foreign players as trade dried up a day before an expected interest rate hike from the central bank. Reuters report monitored by Business247 News...

*Describes remittances as key contributor to nation building. The Federal Government has called on Nigerians in the Diaspora to see the current economic realities in the country as good opportunities for them to participate actively in the ongoing efforts to reposition the nation’s economy. The Minister of Finance, Mrs Kemi...

The President of the Advertisers Association of Nigeria (ADVAN), Mr.  David Okeme has revealed that the marketing communications industry will grow if associations and groups within the industry can work better collaboratively. Okeme said this when top officials of Advertising Agencies Association of Nigeria (AAAN) paid a courtesy visit to...

Outgoing Group Managing Director of pan-African banking group, United Bank for Africa (UBA) Plc Mr Philips Oduoza has called for increased collaboration among African central banks in order to drive intra-African trade on the continent. He said this when he delivered the fourth Valedictory Lecture of the Chartered Institute of...

The Central Bank of Nigeria (CBN) has settled $697m one-month outright currency forwards it sold in June at an exchange rate of 280 naira per dollar, one trader said on Friday. According to Reuters’ report, the $697 million, part of $4 billion auctioned after the naira was floated last month...

The end seems not to have come for spate of losses being experienced by investors on the Nigerian Stock Exchange (NSE) as the market began the week on the losing streak where it end last week as the All-Share Index and Market Capitalization which closed the week at 28,805.45 basis...

The Nigerian Navy (NN) has arrested 27 ships and 200 crew engaging in various maritime crimes. The Chief of Naval Staff (CNS), Vice Adm. Ibok-Ete Ibas, said this when the Senate Committee on Navy paid him an oversight visit at the Naval Headquarters in Abuja. Ibas said that NN had...

  Recession, rising inflation, review of new forex regime may top agenda Wole Tokede. As the 251st edition of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meeting begins today, Monday, July 25, 2016, rising inflation, how to tackle the threat of recession and the review...