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Stock Market Continues To Bleed As 25 Equities Record Price Losses

Stock Market Continues To Bleed As 25 Equities Record Price Losses

    Among the stocks that depreciated in price last week were Vitafoam Nigeria Plc which led other decliners by 13.04 per cent from N2.30 to N2.00 per share. This was trailed closely behind by Fidson Healthcare Plc with negative return of 11.40 per cent to close at N1.01, followed by Nigerian Breweries Plc with […]

Diamond Bank Rewards Customers With N4m

Diamond Bank Rewards Customers With N4m

Two lucky customers of Diamond Bank have been rewarded with N2 million each for emerging the two millionth customers to open a Diamond Y’ello account and download, register and carry out financial transaction with its digital financial platform, Diamond Mobile app. A tailor, Tasiu Mansur, who emerged the two millionth Diamond Y’ello active account holder […]

Experts Insist CBN Must Float Naira

Experts Insist CBN Must Float Naira

Economic experts yesterday in Lagos insisted that the Central Bank of Nigeria (CBN) must float the naira to deliver the nation from the current economic quagmire, noting that the current policy of the apex bank on forex lack direction and does not boost confidence of investors. The experts, who gathered at a breakfast meeting organised […]

CBN Pegs Dollar Rate For School Fees & PTA At N375 Per $

CBN Pegs Dollar Rate For School Fees & PTA At N375 Per $

In line with its determination to boost dollar supply in the economy as well as to bridge the wide gap between the interbank foreign exchange (FX) market and the parallel market, the Central Bank of Nigeria (CBN) yesterday pegged the Naira exchange rate for payment of school fees (strictly universities) abroad and Personal Travel Allowance […]

Banks Partnership With Fintech Is Key To Drive Financial Inclusion

Banks Partnership With Fintech Is Key To Drive Financial Inclusion

As financial technology (FinTech) gradually seeps into the growth strategies of traditional banks, expert have expressed concern that the two components would need to work together in order to drive financial inclusion in the sector. The basis for this concern is stemmed from the global best practices where Fintech, the term coined for financial services […]

Naira Crashes Further To 516

Naira Crashes Further To 516

The naira appears to have entered a free fall mode with the local currency selling for 516 per United States dollar on the streets of Lagos on Thursday. The naira plummeted at the parallel market from 510/dollar on Wednesday to 516/dollar on Thursday. Currency dealers on the streets of Lagos Island sold the greenback at […]

RIMAN Urges Diversified Forex Earnings

RIMAN Urges Diversified Forex Earnings

From the nation’s professional risk managers comes urgent appeal to the government to redouble efforts towards diversifying the foreign exchange (forex) earnings capacity of the country.   Under the aegis of Risk Managers Association of Nigeria (RIMAN), they said it would help the country survive and forestall future occurrence of the ongoing economic crisis that […]

CBN – Render Forex Returns In Uniform Format

CBN – Render Forex Returns In Uniform Format

The Deposit Money Banks on Thursday has been directed by the Central Bank of Nigeria  to render returns on foreign exchange in a uniform format. The apex bank has been under pressure in the last few weeks over its policy on foreign exchange management which some people have described as unfriendly to the business and investing […]

Governors Demand Urgent Review Over Nigeria’s Forex Policy

Governors Demand Urgent Review Over Nigeria’s Forex Policy

The National Economic Council, NEC, on Thursday demanded the immediate review of the current foreign exchange policy by the Central Bank of Nigeria. Nasarawa State Governor, Tanko Al Makura, who briefed journalists at the end of the meeting in Abuja said the Council, presided by acting President Yemi Osinbajo, expressed serious concern over the current […]

3 Sectors Recieved Large Share Of Forex Allocation – CBN

3 Sectors  Recieved Large Share Of Forex Allocation – CBN

The Central Bank of Nigeria said on Thursday three key sectors of the economy received the largest foreign exchange allocations between December 2016 and January. The CBN said out of a total of $2.83 billion disbursed during the two months to critical sectors of the economy, manufacturing, agriculture and raw materials got the lion’s shares. CBN […]

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