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…
Africure, a manufacturer and distributor of essential generic pharmaceutical products, has secured $15 million from BluePeak Private Capital’s $200 million targeted impact-linked fund. The new funding is expected to provide a vital capital boost to Africure and supports the company’s…
A funding Fintech startup, Afriex has closed a $10 million Series A round to expand its blockchain money transfer platform. It is valued at $60 million and runs a money transfer system that utilises blockchain to enable users to send…
The Naira exchanged at 417.30 to the dollar at the Investors and Exporters window on Monday, representing a -0.25 per cent appreciation, compared to N418.33 to the dollar recorded on Friday. The open indicative rate closed at 417.92 naira to…
Polaris Bank has commenced a nationwide business forum to sensitise exporters on inherent benefits of Central Bank of Nigeria’s (CBN) RT200 non-oil export proceeds repatriation rebate scheme to realise Nigeria’s quest to earn the needed foreign exchange; diversify its economy…
The Naira exchanged at 418. 33 to the dollar at the Investors and Exporters window on Friday, compared to N419.50 to the dollar recorded on Thursday. The open indicative rate closed at 417.40 naira to the dollar on Friday. An…
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Saturday said that Nigeria can’t afford to operate a floated exchange rate system despite advice from the World Bank and other global financial institutions. The CBN Governor disclosed…
Transcorp Power Limited, owner of the 972 megawatts capacity power plant in Ugheli, Delta State, has announced revenue growth of N74.3bn in 2021 following the recent improvements in the financial performance of Nigeria’s power sector. In the 2021 annual report…
The Central Bank of Nigeria, CBN, has said that normal activities have resumed at its Makurdi branch that was earlier today gutted by fire. Osita Nwanisobi, Director, Corporate Communications of the Bank who confirmed the incident said that a minor…
