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Farooq

Archive by Category "News"

HomeArchive by Category "News"
  • CBN

The Central Bank of Nigeria (CBN) on Friday said it injected 337.16 million dollars in the retail Secondary Market Intervention Sales (SMIS) in its first intervention in the inter-bank foreign market for November. A statement issued in Abuja by Isaac Okorafor, the bank’s Director of Corporate Communications, noted that the amount was in addition to […]

The Association of Bureau De Change Operators of Nigeria (ABCON) has said that Central Bank’s new corporate governance policy limiting the tenure of directors of BDCs might be difficult to implement. Aminu Gwadabe, President, ABCON, told the News Agency of Nigeria (NAN) on Sunday in Lagos that the difficulty would arise because the business of […]

The Assets Management Corporation of Nigeria (AMCON) has published the names of its top 105 debtors. According to the corporation, the “delinquent debtors”, whose names were released owed a total of N906 billion. “This has become necessary as all avenues provided by the corporation for the debtors to propose acceptable resolution terms have failed,” it […]

Asian share markets was black on Monday as the promise of more stimulus boosted Chinese stocks for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit. Oil prices were stable on Monday, supported by supply concerns ahead of the start of U.S. sanctions against Iran’s crude exports, but held back […]

  • NNPC
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The Nigerian National Petroleum Corporation (NNPC) has disclaimed the insinuation that it has in its custody $3.5billion subsidy fund. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a release today in Abuja, explained that at the hit of the shortage of products supply at the close of last year, the National […]

The Naira on Tuesday appreciated against the dollar at the parallel market, exchanging at N360 to the dollar, stronger than N361 posted on Monday. At the Bureau De Change (BDC) window, the Naira was sold at N360 to the dollar, while the Pound Sterling and Euro closed at N477.5 and N413. Trading at the investor’ […]

The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Wednesday said the apex bank was duly committed in positioning the economy on the path of growth by supporting small businesses in the country. Emefiele, represented by the CBN Spokesman, Mr Isaac Okorafor, made this known in Abuja at the CBN Special Day at […]

Oil prices dipped on Tuesday amid expectations of an increase in U.S. crude inventories, but signs of a fall in Iranian oil exports this month kept losses in check. International benchmark Brent crude for December delivery had fallen 6 cents or 0.07 per cent to $80.72 per barrel by 0654 GMT. U.S. West Texas Intermediate […]

The dollar edged higher on Tuesday as firmer U.S. Treasury yields encouraged investors to buy the greenback after a recent drop with investors growing more bullish about its short-term outlook, especially against emerging market currencies. While the dollar has struggled to extend gains against the euro and the sterling in recent days, it has strengthened […]

  • dollar to naira

Godwin Emefiele, governor, Central Bank of Nigeria (CBN), has said maintaining stable exchange rate to avoid depreciation of the naira is better than building foreign reserve buffers. Emefiele told newsmen on Sunday that this was part of the outcome of the Nigerian delegation’s meetings with investors and institutions at the International Monetary Fund (IMF) and […]