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Farooq

May

* OPEC output rises by 250,000 bpd to 32.22 million bpd * Compliance by 11 countries with output targets rises to 95 pct * Saudi Arabian output remains below OPEC target * For output by country, compliance details By Alex Lawler and Rania El Gamal LONDON/DUBAI, May 31 (Reuters) – OPEC oil output rose in […]

  • dollar to naira

LAGOS May 31 (Reuters) – Nigeria’s foreign exchange reserves fell to $30.49 billion as of May 25, the lowest level since April 18 and down 0.87 percent from a month ago, central bank data showed on Wednesday. The forex reserves were up 15.27 percent year-on-year, the data showed. Africa’s biggest economy shrank by 1.5 percent […]

Ifeanyi Onuba, Abuja The Central Bank of Nigeria on Tuesday said that Deposit Money Banks in the country lost a total of N2.19bn to fraudsters in the 2016 fiscal period. The figure was contained in the Nigeria Electronic Fraud Forum Annual Report, which was unveiled by the CBN Governor, Mr. Godwin Emefiele, during the NEFF […]

The Central Bank of Nigeria (CBN) on Tuesday intervened in the inter-bank market to the tune of $482.6 million in the first trading day after the Democracy Day celebrations. A statement issued by its Acting Director, Corporate Communications, Isaac Okorafor, in Abuja said this was part of measures to underline its determination to guard the […]

  • CBN

LAGOS May 30 (Reuters) – Nigeria’s central bank said on Tuesday it had sold $482.6 million to improve dollar liquidity in the foreign exchange market and curb pressure on the local currency. The bank, which has been intervening on the official currency market in the past few weeks, had earlier told lenders that an auction […]

Dollar to Naira Rate Black Market May 31 2017. 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 […]

Nigeria’s foreign exchange reserves has shed a total of $493.72 million in the past 21 days. According to data from the Central Bank of Nigeria (CBN), the country’s reserves swung from $30,988,403,724 on May 4, 2017 to $30,494,680,050 as at the close of business on Thursday May 25. Within the same period, the CBN made […]

  • dollar to naira

LAGOS May 30 (Reuters) – Nigeria’s central bank said on Tuesday it will sell $100 million at a special wholesale spot and forwards auction to improve dollar liquidity in the foreign exchange market and curb pressure on the local currency. The bank, in a notice to commercial lenders, said the dollar auction would be both […]

Akinpelu Dada The Dangote Group has disclosed plans to invest $1bn in rice cultivation in five states to boost food self-sufficiency in the country. The group stated this in a statement made available to our correspondent on Monday. Speaking at the just concluded 2017 Gateway Trade Fair, which held in Abeokuta, Ogun State, a director […]

Oyetunji Abioye The continued intervention of the Central Bank of Nigeria in the foreign exchange market to strengthen the naira is inevitable due to the volatile nature of the market, the President and Chairman of Council, Chartered Institute of Bankers of Nigeria, Prof. Segun Ajibola, has said. According to him, the FX market requires “constant […]