CBN technically devalues Naira: To now sell dollars to foreign investors at N380/$
The Central Bank of Nigeria has moved the FX sales rate to FPIs to N380.2/$, from N366.7/$, in a move…
Category: Local
CBN technically devalues Naira: To now sell dollars to foreign investors at N380/$
An analyst in Lagos confirmed to BusinessDay that CBN sold the dollar at N380.2 on the I&E window today, Friday.…
NYSC suspends CDS indefinitely
The National Youth Service Corps has suspended its weekly Community Development Service activities indefinitely, according to a statement released on…
Dollar exchanges for N374
On Thursday, the naira exchanged to the dollar for between N372 and N374 at the Bureau De Change segment of…
Fuel price to be reviewed April 1 — PPPRA
In a move signalling possible deregulation of the downstream sector, the Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, said that…
BREAKING: Trump Cancels G7 meeting at Camp David over Coronavirus
President Donald Trump will cancel an in-person meeting of G7 leaders at Camp David in June because of the coronavirus and will instead hold a video-conference instead, the White House said on Thursday.
Wall Street ends higher to stem coronavirus sellof
U.S. stocks managed to post gains on Thursday after recent steep losses as policymakers around the world took further emergency…
Coronavirus to send emerging economies into recession by mid-year: JPMorgan
According to JPMorgan, the impact of the coronavirus is set to push the world’s poorer countries excluding China into recession…
CBN Approves N100 Billion Loan Support For Health Laboratories
The Central Bank of Nigeria has announced a 100 billion naira loan support for health laboratories in the country. Central…
CBN announces N1.1tn intervention fund to boost economy
The Central Bank of Nigeria on Wednesday announced a N1.1tn intervention fund to support critical sectors of the economy. The…
Airline operators okay ban, seek flight restriction to Lagos, Abuja airports
To complement the ban on flights from 13 countries, airlines operators yesterday urged the Federal Government to immediately restrict other…
FAAC meeting ends in deadlock over revenue remittances
The Federation Account Allocation Committee meeting which was convened to consider statutory revenue for the month of February ended in…
FG slashes budget by N1.5tn, reduces benchmark to $30
The Federal Government on Wednesday announced a slash in the 2020 budget by N1.5tn as part of measures to respond…
FG Approves Reduction of Petrol Price
he Federal Government has approved the reduction of the pump price of Premium Motor Spirit (PMS). While there are reports…
‘Nigeria needs strategic coping mechanisms as global recession looms’
Though some initiatives are being undertaken by the Federal Government to mitigate the effect of the coronavirus pandemic on the…
Boeing leads Wall Street slump as corporate damage grows
Wall Street’s main indexes sank again on Wednesday, as growing signs of coronavirus damage to corporate America overshadowed a burst…
BREAKING: FG Places Travel Ban on China, Italy, and Nine Other Countries
The countries are China, Italy, Iran, South Korea, Spain, Japan, France, Germany, Norway, the United States of America, the United Kingdom, Netherlands and Switzerland.
Inflation Hits 12.20 Percent In February 2020
Nigeria’s headline inflation has recorded yet another rise to 12.20 percent in February, from the 12.13 percent recorded in January the same year.
Oil drops to $28, as dollar exchanges for N369
The price of Brent crude oil, the international benchmark, further declined on Tuesday, trading around $28 per barrel, it’s lowest…
Economic council meets Buhari, warns of another recession
The Presidential Advisory Council on Tuesday warned about dire economic consequences for Nigeria if the raging coronavirus infection was not contained as quickly as possible.
Indian Contractor With Dangote Shows Symptoms of Corona Virus
An Indian contractor with Dangote with symptoms of Coronavirus has been rushed to the hospital for testing and diagnosis.
CBN grants businesses one-year extension on loan repayment
The Central Bank of Nigeria on Monday announced policy measures to tackle the impact of coronavirus on the businesses and…
FX market opens with dollar trading at N380
The foreign exchange market opened on Tuesday with the dollar trading at between N378 and N380 in Lagos black markets.…
More pain for Nigeria as oil sinks to $29
With the international oil benchmark, Brent crude, falling below the $30 per barrel mark on Monday, the oil-dependent Nigerian economy…
Togo, Niger, Benin owe Nigeria N30bn for electricity
The Republics of Togo, Niger and Benin owe Nigeria a total of N29.97bn for the electricity supplied to them from…
Coronavirus threatening our debt servicing plans – DMO
The Debt Management Office on Monday raised the alarm that the outbreak of coronavirus was threatening the arrangement put in place to service the nation’s debts.
Nigeria to delay proposed $3.3bn Eurobond on coronavirus concerns
Nigerian government will delay this year’s issuance of the $3.3bn it had initially planned because “the time is not ripe”, Finance minister, Zainab Ahmed said on Monday.
CBN asks banks to restructure loan terms, cuts special interest rate to 5%
The Central Bank of Nigeria (CBN) has directed all deposit money banks in the country to restructure loan terms and tenors to households and businesses affected by the coronavirus outbreak.
Zenith Bank limits int’l withdrawal amount on card
Zenith Bank has limited the monthly international withdrawal limit on its Naira cards to $1,000 per month, according to PUNCH.
Dollar sells at N380 as CBN holds press conference
The foreign exchange market resumed on Monday, 16th March, with dollar selling at N380/$ in some area of Lagos. According…