CBN threatened to sanction any Deposit Money Bank found in breach of directive

The Central Bank of Nigeria on Monday threatened to sanction any Deposit Money Bank found in breach of its earlier directive of March 3, 2017 instructing them to, among other things, open teller points for retail forex transactions and to have electronic display boards in all their branches, showing rates of all trading currencies. This Read More

READ MORE

FG approved N20bn for the settlement of the 2017 export claims.

The Executive Director/Chief Executive Officer, Nigeria Export Promotion Council, Olusegun Awolowo, on Thursday in Kano, stated that the Federal Government had approved N20bn for the settlement of the 2017 export claims. At a stakeholders’ forum on the revised guidelines on the Export Expansion Grant, Awolowo stated that the review of the scheme by the Federal Read More

READ MORE

Despite Nigeria exiting recession equities market closed in the red on Tuesday

Despite Nigeria exiting recession on Tuesday, the equities market closed in the red, shedding N35bn. On the release of the second quarter Gross Domestic Product data, the market opened this week’s trading with a loss as Seplat Petroleum Production Company Plc, Julius Berger Nigeria Plc, Lafarge Africa Plc, Cadbury Nigeria Plc and Total Nigeria Plc Read More

READ MORE

Central Bank of Nigeria on Tuesday injected $250m into foreign exchange market

The Central Bank of Nigeria on Tuesday injected $250m into the various segments of the inter-bank foreign exchange market, in order to lift the naira against other major currencies. Figures obtained from the CBN indicated that the Retail Secondary Market Intervention Sales segment of the market received the highest intervention with a total of $100m, Read More

READ MORE