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Farooq

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  • Kachikwu

Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, has explained why some investors find it difficult to invest in Nigeria. Kachikwu hinged their fears on security concerns and other issues in Nigeria. Kachikwu, who spoke at the 6th Sustainability in the Extractive Industries Conference organised by CSR-in-Action on Wednesday in Abuja, observed that although […]

The United Bank for Africa Plc has announced an immediate upward review of the monthly international spend limit on its debit and prepaid naira cards from $100 to $2,000. The upward review, which represents a marked increase by 1,900 per cent, allows customers to withdraw up to $2,000 per month as against $100 which was […]

Everest Amaefule, Abuja Nigeria total debt rose by N4.76tn in 2016, the Debt Management Office has disclosed. The DMO disclosed this in its 2016 Annual Report and Statement of Accounts obtained by our correspondent in Abuja on Wednesday. According to the office, Nigeria’s debt as of December 2016 stood at N17.36tn, up from N12.6tn a […]

by Kayode Tokede, Lagos First Bank of Nigeria Limited in its drive to promote convenience and ease of business for customers has raised the limits on international transactions on Naira Cards to $1,100 monthly across Automated Teller Machines (ATM), Point of Sales and online channels, with the daily ATM withdrawals raised to $300. The bank […]

* U.S. weekly crude, gasoline and distillate stocks fell -EIA * U.S. inventory declines bigger than expected * Crack spread hits highest since November 2016 (Adds closing prices, quote) By Scott DiSavino NEW YORK, July 19 (Reuters) – Oil prices jumped almost 2 percent to a six-week high on Wednesday after a U.S. report showed […]

Dollar to Naira Rate Black Market July 20 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 […]

* U.S. crude stocks rose 1.6 mln barrels to 497.2 mln -API * Rising Libya, Nigeria output undermines OPEC supply cuts * China crude refinery throughout to ease in H2 -BMI Research * Oil is one of 2017s worst performing commodities (Adds commodity comparison, updates prices) By Henning Gloystein SINGAPORE, July 19 (Reuters) – Oil […]

Fidelity Bank Plc on Tuesday became the third Nigerian bank to raise the monthly international spend limit on its naira Visa credit and debit card transactions to $1,000. The move, which clearly was an indication of the improved dollar liquidity in the economy, is also expected to strengthen investors’ confidence. According to Fidelity Bank yesterday, the […]

Nigeria’s central bank has extended guarantees to Skye Bank for another year while it considers the bank’s recapitalisation proposal, the mid-tier lender said in a statement. The central bank shored up the Skye last year with a 100 billion naira ($328 million) capital injection, after sacking its top management for failing to meet minimum capital […]

By Babajide Komolafe The naira yesterday depreciated to N363.57 per dollar at the Nigeria Autonomous Foreign Exchange Market (NAFEX) window. Data from the Financial Market Dealers Quote (FMDQ), showed that the indicative exchange rate for the NAFEX window rose from N362.21 per dollar on Monday to close at N363.57 per dollar, indicating N1.63 depreciation for […]