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Farooq

Archive by Category "News"

HomeArchive by Category "News"

Leke Baiyewu, Abuja The Federal Government has said its external borrowing plan, for which it is seeking the approval of the National Assembly, will take Nigeria between five years and 30 years to repay. The government also insisted it would have to borrow more to complete a number of ongoing infrastructural projects. The Minister of […]

* Nigeria revises 2017 growth projection to 1.5 pct from 2.19 pct * Draft budget document sees oil production at 2.3 mbpd in 2018 * Document sees up to 30 pct of 2018 spending on capital projects * Raising taxes on luxury goods to 15 pct by 2018 being considered (Adds details, analyst comments, bullet […]

NAIROBI, Oct 19 (Reuters) – The Kenyan shilling is expected to weaken against the dollar in the next week ending Thursday while the naira is expected to hold steady, traders said. KENYA The Kenyan shilling could depreciate due to political uncertainty reducing offshore investor inflows and precautionary buying of dollars by importers a week before […]

  • CBN

LAGOS, Oct 19 (Reuters) – Nigeria’s central bank sold 98 billion naira of treasury securities on Thursday to keep liquidity tight to support the currency, a day after it auctioned 133.25 billion naira of T-bills, traders said. The local naira currency has been stable for more than two weeks, supported by central bank interventions, foreign […]

The Naira on Wednesday exchanged at N361.50 to the dollar at the parallel market, maintaining same rate for the past one-week, the News Agency of Nigeria reports. The Pound Sterling and the Euro traded at N475 and N425, respectively. At the Bureau De Change (BDC) window, the naira was sold at N361.50, while the Pound […]

  • dollar to naira

ABUJA, Oct 18 (Reuters) – Nigeria’s lower house of parliament will investigate $2 billion of foreign loans which the state-owned national electricity grid operator may have raised without official approval, lawmakers said on Wednesday. The investigation could be a blow to efforts to improve Nigeria’s creaking power infrastructure, which is often blamed for hobbling growth […]

LAGOS, Oct 17 (Reuters) – Annual inflation in Nigeria slowed for an eighth month in September, easing to 15.98 percent, the National Bureau of Statistics (NBS) said on Tuesday. The rate of annual inflation was 0.03 percent percentage points lower than the rate in August. A separate food price index showed inflation at 20.32 percent […]

Obinna Chima Nigeria’s external reserves has risen to a three-year high of $33.112 billion as of October 12, according to figure obtained from the Central Bank of Nigeria’s (CBN) website. The sustained accretion in the reserves is driven majorly by increased foreign currency inflows into the Nigerian fixed income securities market, the stability in crude […]

After enjoying a 4-week rally, the dollar came under pressure last week, falling against most of its major peers, leaving many traders questioning whether the most recent bull run is over for the greenback. Although U.S. consumer prices rose 0.5% in September, the biggest increase in eight months, when stripping out food and energy, core […]

Naira on Monday showed strength as it exchanged at N364 to a dollar in the parallel market segment. The local currency also exchanged for N425 to one Euro and N476 to a Pounds Sterling. Meanwhile, the Central Bank of Nigeria (CBN) yesterday continued to maintain liquidity in the Foreign Exchange market by injecting 195 million […]