archiveJuly 2016

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...

The President, Association of Bureaux De Change Operators of Nigeria (ABCON),Alhaji Aminu Gwadabe, has  said that new directive of the Central Bank of Nigeria (CBN) on foreign exchange (FX) will stem exchange pressure currently witnessed in the country. He also said the directive will help determine a realistic exchange rate...

For the nation’s economy to rebound, the General Secretary, Association of Stockbroking Houses of Nigeria (ASHON), Mr. Akinsola Akeredolu-Ale, has said that government should understand that it does not have any affair in running the economy but to provide policy and security. According to him, government does not have any...

The Central Bank of Nigeria (CBN) has instructed authorized dealers that include Access Bank Plc, Zenith Bank Plc, and other authorized deals in the country to commence sales of foreign exchange to Bureau De Change (BDCs). CBN in a circular signed by Acting Director, Trade & Exchange, Mr. W. D...

The Executive Director, Finance & Strategy of Sterling Bank Plc, Mr. Abubakar Suleiman has assured that the bank would consolidate on the positive ratings by the various international rating agencies by ensuring that it continues to deliver quality banking services to its customers and adhere strictly with best practice as...

A turnover of 1.350 billion shares worth N9.287 billion in 18,679 deals were traded this week by investors on the floor of the Exchange Nigerian Stock Exchange (NSE) in contrast to a total of 1.149 billion shares valued at N13.616 billion that exchanged hands last week in 21,868 deals. The...