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Farooq

Articles Posted by Alex Ikechukwu

HomeArticles Posted by Alex Ikechukwu

By Paul Carsten and Felix Onuah ABUJA, July 14 (Reuters) – Nigeria’s 2017 budget, signed into law by the acting president a month ago, has still not been finalised and is being amended due to disagreements between parliament and the presidency, two sources familiar with the matter said. Any delays to government spending could hobble […]

* Shell declares force majeure on Bonny Light exports * OPEC’s compliance with production curbs has slipped -IEA * OPEC needs to cut more deeply to achieve higher prices -analysts * Kuwait says premature to cap Libya, Nigeria output * Coming up: Baker Hughes U.S. rig count at 1 p.m./1500 GMT (New throughout, updates prices […]

LAGOS, July 14 (Reuters) – Nigeria’s interbank lending rate rose to 12 percent on Friday from eight percent after bond and treasury bill purchases paid for by lenders drained banking system liquidity, traders said. The central bank sold 25 billion naira ($82 million) worth of 363-day treasury bills on Friday, while lenders paid for bonds […]

Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), said on Thursday that the nation’s currency would remain stable in the months to come as the CBN sustains its interventions. Gwadabe told the News Agency of Nigeria (NAN) in Lagos that the sustained injection of liquidity to the nation’s foreign exchange […]

Capital Oil chairman Ifeanyi Ubah has said the Nigerian National Petroleum Corporation (NNPC) is owing his company N16 billion. He said this on Thursday at a public hearing organised by the house of representatives committee on petroleum downstream in Abuja. The house committee is investigating the alleged disappearance of 82 million metric litres of petrol belonging to […]

The Nigerian National Petroleum Corporation (NNPC) says Capital Oil is creditworthy despite the N9.1 billion debt owed by the company. Ibrahim Juma Dansure, executive director, finance and accounts, NNPC retail, made this statement while speaking at the investigative hearing of the alleged diversion of petroleum products. Dansure said negotiations were ongoing between the department of […]

Ecobank Nigeria thursday announced an increase in the daily spending limit on its naira denominated MasterCard for international transactions from $100 to $1000 for its platinum card customers for online transactions. It also set $750 and $300 limits for its gold and standard card holders respectively. In Addition to that, the bank said it also […]

  • CBN

Ibrahim Shuaibu in Kano The Central Bank of Nigeria (CBN) has warned Nigerians to desist from unwholesome financial engagements in all Ponzi schemes. It also revealed that investors in such schemes lost the sum N11.9 billion as at December last year. The acting Director, Corporate Communications Department of the CBN, Mr. Isaac Okorafor, said this […]

The Naira on Thursday recorded further gains against the dollar at the parallel market, the News Agency of Nigeria reports. The Nigerian currency gained 0.5 points to close at N366.5 to a dollar, stronger than N367 recorded on Wednesday, while the pound sterling and the Euro traded at N472 and N420 respectively. At the Bureau […]

Dollar to Naira Rate Black Market July 13 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 […]