The Naira exchanged at N419.00 to the dollar at the Investors and Exporters window on Friday, a -0.12 per cent depreciation, compared to 418.50 to the dollar on Thursday. The open indicative rate closed at N417.30 to the dollar on…
The Central Bank of Nigeria (CBN) has said that no successful economy thrives on the promotion of imported products over exportation of local products, adding that Nigerians’ import dependency is the main cause of the falling value of the Naira.…
The International Monetary Fund (IMF), has said the Sub-Saharan African Region needs a careful policy response to address the challenges of the new economic shock caused by the war in Ukraine. Mr Abebe Selassie, Director, African Department, IMF, said this…
By Matthew Denis, Abuja The Honourable Minister of Works and Housing, Babatunde Raji Fashola has officially inaugurated the newly appointed members of the Federal Mortgage Bank of Nigeria (FMBN) Board and Executive Management Team on Thursday. The event took place…
The Federation Accounts Allocation Committee (FAAC), has shared the sum of N725.571 billion to the three tiers of government, as federation allocation for the month of March. This is contained in a statement signed by Mr Phil Abiawute-Mowete, Director, Information/Press,…
The Central Bank of Nigeria (CBN) has urged Nigerians to embrace its intervention programmes to promote financial stability and economic development. The CBN Director of Corporate Communications, Mr Osita Nwanisiobi, said this at the opening session of a two- day…
The Debt Management Office (DMO) says it received 300 successful bids in the recently released Federal Government of Nigeria (FGN) bonds offer. The DMO, in a statement on Wednesday said the bonds offer were oversubscribed to the tune of N34.15…
MTN Nigeria, on Wednesday, said that it has paid N3.5 trillion as levies and taxes to government since its inception. The Chief Executive Officer (CEO) of MTN, Mr Karl Toriola, who said this in his address at the ‘Brunch with…
The central parity rate of the Chinese currency, the Yuan, weakened eight pips to 6.5598 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed to…
MTN Nigeria Communications PLC says it has issued N127 billion Series 1 & 2 Commercial Paper under its registered N150 billion Commercial Paper Programme. The issuance comprised two tenors – a 184-day Serie issuance priced at a 7.50 per cent…
