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Pound Recovers After 6-days

Pound Recovers After 6-days

The pound rose for the first time in six days against the euro as traders speculated it had fallen too far, too fast on speculation the U.K. is headed for a so-called hard Brexit. Sterling rallied as traders took advantage of its slide to a five-year low against Europe’s single currency and a drop to its […]

Reps: CBN Governor And His Team Should Be Sacked

Reps: CBN Governor And His Team Should Be Sacked

During her meeting on on Wednesday (Oct. 5), the House of Representative  expressed concern over continuous fall of the naira against major currencies and resolved to investigate the foreign exchange transaction process. This was sequel to a motion entitled “Call for Investigation of the Central Bank of Nigeria’s Forex Policies” sponsored by Rep. Ali Isa […]

Dollar Extends Gain Against Yen

Dollar Extends Gain Against Yen

The dollar gained against the yen, leaving it poised for the longest rally since March, as U.S. service companies expanded in September at the fastest rate in almost a year, leading traders to ramp up bets that the Federal Reserve will raise interest rates in coming months. The greenback advanced for the seventh straight day […]

More Naira Devaluation Is A Suicide Mision – Iweta

More Naira Devaluation Is A Suicide Mision – Iweta

The Head of Trade and Economic Section of the EU, Fillippo Amato, on Tuesday suggested that the best way out of recession was for Nigeria to further devalue the naira, but the South-South Chamber of Commerce rejected the further devaluation of the naira as suggested by the European Union, saying it is a “suicide mission”. […]

Nigeria Will Earn $300m From ICT Yearly – iSON

Nigeria Will Earn $300m From ICT Yearly – iSON

According to iSON BPO, a leading call centre operator in Nigeria, Nigeria stands to earn about $300 million yearly in business process outsourcing. This is as a result of the increasing foreign direct investment (FDI) in the country’s information and communications technology (ICT) industry, Chief marketing officer of iSON BPO, Opemipo Alebiosu, speaking during a facility tour […]

CBN Helps When Banks Fail In Lending – Charles Ugwu

CBN Helps When Banks Fail In Lending – Charles Ugwu

Making financial resources available for financing project and promoting development is Part of the role of the banking system. The banks are expected to stimulate investment and channel same to key sectors of the economy. But the banks seem not to be doing enough in terms of making finance available to the real sector of […]

FG Selects 8 Banks For Sale Of $1bn Eurobond

FG Selects 8 Banks For Sale Of $1bn Eurobond

According to BusinessDay, the Federal Government of Nigeria have shortlisted eight banks of an undisclosed number that submitted bids in September as touching the Country’s hunt for economic advisers for the proposed sale of $1 billion worth of Eurobonds. Three of the selected eight would be handpicked next week to handle the whole programme, sources familiar […]

Nigeria’s Oil & Gas industry Soon To Yield $10bn Investment

Nigeria’s Oil & Gas industry Soon To Yield $10bn Investment

A big gathering of global oil companies operating in Nigeria held in Madrid, Spain on October 3 this year, where deliberations were about the prospect of engagements that could yield up to $10 billion worth of investments in Nigeria’s oil and gas sector. The prospect was however hinged on the conditionality of peace in the […]

China To Invest $80bn On Nigeria’s Oil And Gas By Month End

The Minister of State for Petroleum Resources Ibe Kachikwu said yesterday that a Chinese delegation will visit Nigeria by the end of this month to discuss investment in the country’s oil and gas industry, The Nigerian National Petroleum Corporation (NNPC) had in June said it signed memorandums of understanding (MOUs) worth $80 billion with Chinese firms […]

PZ Cussons Reports Huge Forex Loss Of N4.7bn

PZ Cussons Reports Huge Forex Loss Of N4.7bn

The Nigerian Stock Exchange (NSE) on Tuesday published the unaudited first-quarter (Q1) financial statements of PZ Cussons Nigeria Plc for the period ended August 31, 2016. The company reported loss before taxation (LBT) of N2.431billion from N546.792million profit before tax (PBT) in the corresponding quarter of 2015; a decline of about 544.6percent. Nigeria is PZ […]

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