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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 […]

$1bn in Two Weeks-External Reserves

$1bn in Two Weeks-External Reserves

Nigeria’s external reserves have hit $26.968bn, almost the $27bn mark, the latest statistics posted on the Central Bank of Nigeria website have shown that the reserves rose to $26.968bn on January 13 from $26.765bn on January 11, having hit $26.658bn and $26.552bn on January and 10 and January 11, respectively. Between December 30, 2016 and January […]

Govt And Dollar Promises

Govt And Dollar Promises

The Minister of Finance, Mrs Kemi Adeosun, says  that the government is  committed to improving the supply of the dollar She expressed optimism that the current black market exchange rate would eventually collapse, stressing that it was based on speculation. and  that the government was also committed to improving the supply of the dollar in speculation 2017. […]

Primary Mortgage Banks In Trouble

Primary Mortgage Banks In Trouble

  Crisis come into view in indistinct and enlarged form in the nation’s financial system as lack of funds hits the Primary Mortgage Banking (PMB) segment, It was learnt that the situation which has become critical for one of the mortgage banks, as it no longer honours depositors’ claims, may soon result in its collapse and […]

400 Staffs Sacked In Heritage Bank

400 Staffs Sacked In Heritage Bank

  Heritage Bank has embarked on mass retrenchment of its workers with 400 staff sacked in December. Investigations by the News Agency of Nigeria, NAN, on Monday indicated that more workers are penciled for sack. NAN reports that the bank, in October 2014, acquired Enterprise Bank with about N56 billion ($281 million). A top management […]

2 Islamic Insurance Firms In Nigeria-Muslims Rejoice

2 Islamic Insurance Firms In Nigeria-Muslims Rejoice

  Two Islamic (Takaful) insurance companies have commenced operations in the country, thus, becoming the first set of fully-fledged Takaful Insurance companies in Nigeria. The two companies are Jaiz Takaful Insurance Company, with head office in Abuja, and Noor Takaful Insurance Company Plc based in Lagos State. Takaful insurance guarantees profit sharing between the insurer […]

Stability In The Capital Market-Analyst

Stability In The Capital Market-Analyst

  The uncertainty expressed by investors in the country’s stock and fixed income markets is likely to ease as analysts expect some stability in the capital market this week. Activities in the equities market last week took a see-saw pattern as the Nigerian Stock Exchange All-Share Index contracted and advanced intermittently in the course of […]

Oil Price Leveraging.

Oil Price Leveraging.

A thin ray of light has pierced Nigeria’s gloomy skies. International crude oil prices held steady above the $55 per barrel threshold on Friday while, two days before, the World Bank reaffirmed its forecast of a return to positive growth for Africa’s largest economy. The prospects present two classic challenges: managing revenue from the price […]

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