Home » Archives by category » Nigeria Finance

CBN Inter-Bank Forex Market To The Tune of $364m

CBN Inter-Bank Forex Market To The Tune of $364m

The Central Bank of Nigeria (CBN) on Tuesday, August 15, intervened in the Inter-Bank Foreign Exchange Market to the tune of $364million in a bid to sustain liquidity in the market. A breakdown of Tuesday’s forex intervention indicates that the Retail Secondary Market Intervention Sales (SMIS) received the largest allocation of $264,192,252.95. The CBN also […]

Diamond Bank Replies Nigerian Man Who Mistakenly Credited With N7.3m

Diamond Bank Replies Nigerian Man Who Mistakenly Credited With N7.3m

Diamond Bank has responded via Social Media, after a Twitter User, @raynergy called on the bank to help resolve the N7.3m that was mistakenly transferred to his account by a Company. The User, @raynergy wrote on Twitter earlier: Dear @DiamondBankNG exactly at this time yesterday 7,310,000.00, seven million three hundred and ten thousand was transferred […]

GTBank 2017 Half Year Profit Hit N100bn

GTBank 2017 Half Year Profit Hit N100bn

A review of the Guaranty Trust Bank (GTBank)  half year performance shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 2% to ₦214.1billion from ₦209.9billion reported in the June 2016; driven primarily by growth in investment securities income as well as income […]

H1 2017: Tier-2 Banks Lose N233bn Deposits As Customers Demand Higher Interest Rate

H1 2017: Tier-2 Banks Lose N233bn Deposits As Customers Demand Higher Interest Rate

TIER 2 banks suffered N233 billion  decline in deposit in the first half of the year (H1 2017) owing to demand for higher deposit rate by customers. Banks’ customers were said to be pressurizing for higher deposit rate against the backdrop of the high interest rate regime created by the monetary policy of the Central […]

FG To Make N30.5tn Revenue From Non-oil Export

FG To Make N30.5tn Revenue From Non-oil Export

These products are palm oil, cashew, cocoa, soya beans, rubber, rice, petrochemical, leather, ginger, etc. The Federal Government of Nigeria is targeting annual non-oil export revenue of $100bn (about N30.5tn, at N305 per dollar exchange rate) through the implementation of the Zero Oil Plan. The projection is contained in a document prepared by the Nigerian […]

NNPC, IOCs Lift Oil Worth N11trn In 12 months

NNPC, IOCs Lift Oil Worth N11trn In 12 months

The Nigerian National Petroleum Corporation (NNPC) and International Oil Companies (IOCs) operating in the country including independent oil companies lifted crude oil and condensate worth over $36.023 billion between March 2016 and March this year, according to NNPC April statistical report. This translates to N11.005 trillion at an exchange rate of N304.5 to a US […]

Diesel Price Drops Following NNPC Intervention

Diesel Price Drops Following NNPC Intervention

The Nigerian National Petroleum Corporation (NNPC)’s recent intervention which led to a 42 percent fall in the price of diesel has continued to sustain the downward price across the country. NNPC said in a statement that a national survey by its weekly TV programme, Oil and Gas Forum, NNPC’s, indicated that in the last few […]

Banks Borrowing From CBN Drops By 19% To N3.4trn

Banks Borrowing From CBN Drops By 19% To N3.4trn

Commercial banks borrowing from Central Bank of Nigeria (CBN) with the use of Standing Lending Facility (SLF) window dropped by 19 per cent to N3.36 trillion in July from N4.2 trillion recorded in June this year. Banks continued to access the Standing Facilities window to square-up their positions by borrowing from the CBN at the […]

DMO Moves To Sensitize Citizens On Nigeria’s Debts

DMO Moves To Sensitize Citizens On Nigeria’s Debts

The newly appointed Director General of the Debt Management Office (DMO), Patience Oniha, has sought the support of the media in informing Nigerians on the management of Nigeria’s debt stock and government’s drive towards infrastructural development. During a breakfast meeting with editors and professionals at the weekend in Lagos, the DG promised that her agency […]

NSE: Market Capitalisation Increases By N33bn As Trading Reverses

NSE: Market Capitalisation Increases By N33bn As Trading Reverses

Activities on the Nigerian Stock Exchange (NSE) on Friday returned back on a positive territory with the market capitalisation increasing by N33 billion. The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N13.133 trillion inched N33 billion or 0.25 per cent to close at N13.166 trillion. Also, the All-Share Index […]

Page 1 of 82123Next ›Last »

Contact Us
Call +234 813 069 1462