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Farooq

September

Home2016September

LAGOS, Sept 30 (Reuters) – Nigeria’s interbank lending rates were flat at around 15.25 percent for overnight lending on Friday, even as market liquidity dropped significantly because of persistent treasury bill sales by the central bank. Traders said market liquidity should be below 100 billion naira due to consistent cash withdrawal by the central bank […]

  • dollar to naira

Lagos, Nigeria Sept 30 (FxMallam) – The Nigerian Naira closed Friday trading at N472 to the dollar after a week of free fall that saw the naira fall to as low as 490 against the greenback.  Confusion had plagued the market with reports suggesting that the Naira might fall to 500 against the dollar by weekend. But […]

ABUJA, Sept 29 (Reuters) – Nigeria plans to lower taxes for small and medium-sized companies to create more jobs, the finance ministry said on Thursday. Africa’s biggest economy is struggling with recession as low oil prices have hammered public finances, halting construction work of firms which have been laying off workers. “The federal government is […]

The naira hit another new low at the parallel market yesterday as dollar scarcity saw the value of the local currency plummet to N480 to the greenback fueled by increased demand from speculators from within and outside the country. From N440 which it was at the beginning of the week, shortage of dollar saw the […]

LAGOS, Sept 29 (Reuters) – Nigeria’s minister for industry, trade and investment dismissed accusations on Thursday that he was involved in an alleged illegal transfer of $13.92 billion by South African telecoms giant MTN. A parliamentary motion named Okechukwu Enelamah earlier this week, saying MTN had used him and others to move the money out […]

NAIROBI, Sept 30 – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – EVENTS: *Zambia’s central bank announces its latest decision on the benchmark lending rate and inflation figures. * Uganda releases inflation figures. * Kenya releases inflation […]

LAGOS, Sept 29 (Reuters) – Nigeria’s naira tumbled more than five percent to another record low against the dollar on the black market on Thursday, as a dollar shortage persisted. Low prices for oil, the country’s top foreign currency earner, have drained the country’s forex reserves, which hit an 11-year-low of $24.61 billion on Tuesday. […]

Dollar to Naira Rate Black Market September 30 2016. Today’s Naira Black Market Exchange Rates. Dollar to Naira. Pounds to Naira. Euros to Naira. These are the prevalent rates for Lagos. Actual rates may vary slightly based on vendor. Rates are updated during the day as they change. NAIRA (N) USD ($) EURO (€) GBP […]

ABIDJAN, Sept 29 (Reuters) – Economic growth in sub-Saharan Africa is likely to slip to 1.6 percent this year, from 3 percent in 2015, due to continuing woes in the continent’s largest economies South Africa and Nigeria, a World Bank report said on Thursday. Growth will pick up slightly to 2.9 percent next year, according […]

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday called for positive reportage of the Nigerian economy by journalists. Emefiele made the call while delivering a keynote address at the 22nd Finance Correspondents and Business Editors’ Seminar in Abakiliki. The seminar was on the theme: “Financing Nigeria’s non-oil sector for sustainable economic […]