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N20b Green Bond For 1.1m Beneficiaries

N20b Green Bond For 1.1m Beneficiaries

Nigeria plans to float Africa’s first sovereign green bond in March to raise N20 billion for environment-friendly infrastructure. To benefit are  44 universities and more than 1.1 million people in various communities. The proceeds of green bond must be applied to environment and climate-friendly projects.Acting President Yemi Osinbajo, who spoke at the investors’ conference for […]

Naira Still Remains N480/$ On Parallel Market, Now

Naira Still Remains N480/$ On Parallel Market, Now

The naira continued on its four-day winning streak against the U.S. dollar on the parallel market yesterday to close at N480/$, stronger than the N501 to the dollar from the previous day, as the new foreign exchange policy actions introduced by the Central Bank of Nigeria (CBN) forced more currency speculators to sell off the […]

CBN Reintroduces Charges On Cash Deposits, Withdrawals

CBN Reintroduces Charges On Cash Deposits, Withdrawals

The Central Bank of Nigeria had announced the reintroduction of bank charges on certain categories of cash deposits and withdrawals on Thursday.   This came about three years after the apex bank stopped the charges. In a circular to all Deposit Money Banks posted on its website, the regulator said the decision to reintroduce the charges […]

Nigeria Plans $64m Green Bond

Nigeria Plans $64m Green Bond

The Federal Government plans to launch a N20 billion ($64 million) green bond in April to fund projects and enhance sustainable development. Acting President Yemi Osinbajo stated this yesterday while addressing participants at the Green Bonds Capital Market & Investors Conference organised by the Federal Ministry of the Environment and the Debt Management Office (DMO) […]

Dollar Drops To N495 As BDCs Decry Exchange Rate Unhealthy Competition

Dollar Drops To N495 As BDCs Decry Exchange Rate Unhealthy Competition

The naira on Wednesday strengthened further to a record high of N495 since last week of trading above N500 per dollar at the parallel market following the new foreign exchange policy by the Central Bank of Nigeria (CBN). The naira gained N8 or 1.6 percent over N503 per dollar traded on Tuesday, BusinessDay findings reveal. […]

Access, Ecobank, First Bank, SCB Sell 71 Percent Of Fx In Two Months

Access, Ecobank, First Bank, SCB Sell 71 Percent Of Fx In Two Months

Four Nigerian deposit money banks accounted for 71 percent of foreign exchanged sold in October and November 2016. The banks; Access, Ecobank, First Bank and Standard Chartered Bank (SCB) sold a cumulative $625.4 million  to Nigerians businesses and individuals, the analysis of banks’ returns on foreign exchange to the Central Bank of Nigeria (CBN) by […]

Weekahead – Africa-fx-nigerian Naira Seen Firming On The Black Market

Weekahead – Africa-fx-nigerian Naira Seen Firming On The Black Market

The Nigerian naira is expected to gain on the black market in the days ahead while it is likely to weaken on the official interbank market as the central bank starts selling dollars to some private individuals. The central bank said on Monday it will offer dollars to individual buyers at 20 percent above the […]

Nigeria’s Recession Will Begin To End ‘Slowly’ But ‘Painfully’ In July 2017

Nigeria’s Recession Will Begin To End ‘Slowly’ But ‘Painfully’ In July 2017

A leading economist and financial derivatives analyst, Bismarck Rewane, has predicted that Nigeria will start to experience a ‘slow’ but ‘painful’ recovery process from the current economic recession rocking the nation in July 2017. He disclosed this while addressing the media on the state of Nigeria’s economy. Rewane noted that the government’s quest to increase […]

New Forex Policy Will Strengthen Naira

New Forex Policy Will Strengthen Naira

The newly introduced foreign exchange policy by the Central Bank of Nigeria (CBN) will help shore up the naira, an official of the bank has said.   Mr Emmanuel Ukeje, the Special Adviser to the CBN Governor on Financial Markets, said this in an interview in Abuja on Thursday. Ukeje described as baseless the argument […]

Dollar Drifts As Impact From Fed Minutes And Mnuchin Fade Aussie Slips

Dollar Drifts As Impact From Fed Minutes And Mnuchin Fade Aussie Slips

The dollar drifted on Thursday as impact from the Federal Reserve’s policy meeting minutes and supportive comments from a top U.S. official faded, while the Australian dollar slipped in the wake of downbeat economic data. The greenback was little changed at 113.300 yen JPY=. The U.S. currency fell to a low of 112.905 yen overnight following the […]

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