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GT Bank Manager Denies In Court

GT Bank Manager Denies In Court

  Nwachukwu Amazu, head of the fund transfer unit of Guaranty Trust Bank (GT.BANK), on Wednesday denied knowledge of the documents his bank sent to the Economic and Financial Crimes Commission (EFCC) on Senate President Bukola Saraki. ‎Nwachukwu, who is the second prosecution witness in the trial of Saraki at the Code of Conduct Tribunal […]

CBN – BDCs Working Towards Closing Inter-Bank, Parallel Exchange Rate Margin

CBN – BDCs Working Towards Closing Inter-Bank, Parallel Exchange Rate Margin

The meeting held  between the Central Bank of Nigeria (CBN) and the Bureau De Change (BDC) operators last week was focused  on ways to improve liquidity and to reduce the huge spread between the inter-bank and parallel market rates. Part of the outcome of that meeting was an agreement on uniform exchange rate for the […]

National Assembly Takes Steps On Improving Ease of Doing Business in Nigeria – ProShare

National Assembly Takes Steps On Improving Ease of Doing Business in Nigeria – ProShare

JANUARY 19, 2017    The World Bank 2017 report on Doing Business, covering 190 countries revealed that in Africa Mauritius(49), Rwanda(56), Morocco(68), Botswana(71) and South Africa (74) where the top countries with on the “Ease of Doing Business”. Nigeria is not doing well in this space as it currently ranks 169 out of the 190 […]

Nigeria Self Sufficient In Rice Production – CBN

Nigeria Self Sufficient In Rice Production – CBN

  The Branch Controller, Central Bank of Nigeria, Awka, Mr. Chuks Sokari, on Wednesday said the country was gradually becoming self-sufficient in rice production going by its availability during the Yuletide. Sokari said this during a town hall meeting in Awka with stakeholders involved in the CBN’s Anchor Borrowers Programme for rice production in Anambra. […]

Equity Market Sheds – N33bn 23 Stock Loss

Equity Market Sheds – N33bn 23 Stock Loss

  The Nigerian equities market, on Tuesday, depreciated by N33bn as 33 stocks recorded losses at the close of trading. The Nigerian Stock Exchange market capitalization dropped to N9.041tn from N9.074tn, while the All-Share Index closed at 26,278.20 basis points from 26,373.83 basis points. A total of 371.867 million shares worth N1.714bn exchanged hands in […]

Make Money While You Sleep

Make Money While You Sleep

    In the past we were warned to be careful about being in debt because interest never stopped charging us; interest never slept, never took a day off, and never took a holiday. Well, the reverse is true, as well. Now is your money making money while you sleep? Does it sound too good […]

Bitcoin and Central Bank Of Nigeria

Bitcoin and Central Bank Of Nigeria

The Central Bank of Nigeria (CBN) has barred deposit money banks and all other financial institutions from the operation of any form of virtual currency. The warning by the apex bank yesterday was contained in a circular by the CBN Director of Financial Policy and Regulation Department, Mr. Kevin Amugo, Virtual currencies (VCs) such as […]

Osibanjo And Naira Exchange Rate

Osibanjo And Naira Exchange Rate

  Vice President Yemi Osinbajo said on Tuesday that Nigeria will  close the gap between the official and black market rates for the Naira against the dollar “very soon”, “The gap between the official and parallel market… it isn’t helpful,” he told reporters at the World Economic Forum in Davos. “If you look at the economic […]

May Speech Boost Pound Sterling Value

May Speech Boost Pound Sterling Value

  Sterling saw its biggest gain ever since the 2008 financial crisis on Tuesday as Prime Minister Theresa May promised a parliamentary vote on Britain’s deal to leave the EU and said it would seek to stay a key European partner. The pound, already up more than 1 percent as May began a keenly-awaited speech […]

Naira To Revenge Dollars This Week

Naira To Revenge Dollars This Week

  Economic and financial experts have said the naira may reverse this week the loss it recorded against the United States dollar last week. Owing to increased scarcity of the dollar, the naira fell from 490/dollar to 497/dollar during the past week. Currency and financial experts, however, linked the loss recorded by the local unit […]

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