Saturday, February 17, 2018
Advertisement
    Dollar collapse likely to remain in place

Dollar collapse likely to remain in place

It has been a painful week of trading for the dollar. The Greenback has essentially reversed its recovery from the previous two trading weeks, to return back towards levels not seen since December 2014.  This means that the dollar has not been valued this low since traders began to price in the normalization of US interest rate policy from the Federal [...]

1 comment Read Full Article
    Report: Dangote to raise $1bn on London Stock Exchange

Report: Dangote to raise $1bn on London Stock Exchange

Plans are underway for Dangote Cement Plc to raise $1 billion from a share sale on the London Stock Exchange, a report by Bloomberg has claimed.Bloomberg reports that the company, which is owned by Aliko Dangote, has approached investment banks to discuss a possible listing."The Nigerian company, controlled by Aliko Dangote, has approached investment bankers to discuss a potential UK [...]

0 comments Read Full Article
    FG floats $2.5bn Eurobond, says debt level will not be affected

FG floats $2.5bn Eurobond, says debt level will not be affected

The federal government through the Debt Management Office (DMO) has floated a $2.5 billion Eurobond, making the fifth issuance in the country's history.According to a statement by Salisu Na'inna Dambatta, director of information at the ministry of finance, said it will be divided into two notes with different maturity periods."The notes comprise a $1.25 billion 12-year series and a $1.25 billion [...]

0 comments Read Full Article
    Adeosun: Nigeria is the biggest loser of Africa’s illicit financial flow

Adeosun: Nigeria is the biggest loser of Africa’s illicit financial flow

Kemi Adeosun, minister of finance, says Nigeria is the biggest loser of the annual $50 billion lost by Africa to illicit financial flows.The minister said this while speaking at a tax conference organised by the Organisation for Economic Cooperation and Development at the UN Headquarters in New York.Adeosun said the amount of money Africa loses to illicit financial flows is more [...]

0 comments Read Full Article
    FG: Why rail project to Niger Republic is necessary

FG: Why rail project to Niger Republic is necessary

Rotimi Amaechi, minister of transportation, says the proposed railway line from Kano to Maradi, a border town in Niger, will help grow Nigeria's economy.In his New Year speech, President Muhammadu Buhari announced that were negotiations for the construction of a rail line from Kano to Maradi.But this was greeted with wide criticisms.Speaking with journalists on Thursday in Abuja, Amaechi said [...]

0 comments Read Full Article
    Petrol to cost more as governors seek ‘appropriate pricing’ to curb smuggling

Petrol to cost more as governors seek ‘appropriate pricing’ to curb smuggling

The National Economic Council (NEC), made up of state governors and chaired by Vice-President Yemi Osinbajo, has asked for "correct" pricing of petrol in the country.While a litre of petrol sells for N145 in Nigeria, it goes for $1.07 (about N385) in Chad and Cameroon, and $1.00 (N360) in Benin Republic.The ministry of petroleum resources recently revealed that the landing cost is [...]

0 comments Read Full Article
    FG asks EFCC to probe ‘massive fraud’ in social investment programme

FG asks EFCC to probe ‘massive fraud’ in social investment programme

The Economic and Financial Crimes Commission (EFCC) has been invited to probe "massive fraud" in the Social Investments Programme (SIP).Maryam Uwais, special adviser to the president on social investments programme, made the disclosure while briefing state house correspondents, on her presentation to the national economic council (NEC) meeting chaired by Vice-President Yemi Osinbajo.She said a total of 7,812,201 Nigerians are [...]

0 comments Read Full Article
    Zuma’s resignation lifts rand to near 3-year high

Zuma’s resignation lifts rand to near 3-year high

After months of ongoing speculation, the overnight climax with Jacob Zuma resigning from his position as President of South Africa has lifted the Rand to its highest level since March 2015. The Rand has now advanced by nearly 2.4 percent against the dollar this week, and has strengthened against all of the G10 currencies throughout the same period, at time of [...]

0 comments Read Full Article
    By 2022, US may cut back crude oil import from Nigeria

By 2022, US may cut back crude oil import from Nigeria

The US may drastically reduce its import of crude oil from Nigeria by 2022.According to the US Energy Information Administration (EIA), the country is projected to become a net energy exporter in four years.In the newly released Annual Energy Outlook 2018, EIA said the transition from net energy importer to net energy exporter will not take place until 2050 in [...]

0 comments Read Full Article
    NPA gives NAFDAC, SON 24 hours to vacate ports

NPA gives NAFDAC, SON 24 hours to vacate ports

The Nigerian Ports Authority (NPA) has given some agencies a 24-hour ultimatum to vacate seaports.Among the affected agencies are National Agency for Food, Drug Administration and Control (NAFDAC) and Standard Organisation of Nigeria (SON).According to a statement signed by Abdullahi Goje, general manager, corporate and strategic communications of NPA, the directive is in line with a new order issued to [...]

0 comments Read Full Article
Advertisement
Advertisement
Advertisement

Exchange Rates

Feb 16, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS364497448
KANO364495430
PH363498435
ABUJA365497434
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement