Wednesday, May 22, 2019
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    Emefiele: I’m optimistic Buhari will appoint ministers on time

Emefiele: I’m optimistic Buhari will appoint ministers on time

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says he is optimistic that President Muhammadu Buhari will appoint new ministers in good time to help monetary policies thrive. At the monetary policy committee press briefing on Tuesday, Emefiele was asked if he could advice President Buhari to reconstitute his cabinet on time to ensure that fiscal policies aid monetary [...]

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    NCC: MTN has nine days to pay up N55bn left of N330bn fine

NCC: MTN has nine days to pay up N55bn left of N330bn fine

The Nigerian Communications Commission (NCC) says the MTN Group has nine days left to pay up its N330 billion fine, which has a deadline of May 31.In October 2015, the regulator slammed MTN a fine of N1.04 trillion following failure to cut off five million unregistered subscribers after a deadline set by NCC, in agreement with major telcos in the [...]

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    Airtel launches 4G in Imo

Airtel launches 4G in Imo

Airtel Nigeria has modernised its network infrastructure in Owerri, the Imo state capital, launching its 4G services in the state.In a statement on Wednesday, Segun Ogunsanya, chief executive officer, Airtel Nigeria, said the company is “committed to empowering individuals, businesses, corporate organizations and governmental agencies through a reliable and modernised mobile Internet network”.Ogunsanya, who was represented by Emeka Oparah, Airtel’s [...]

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    NSE asks MTN to make shares available for trading

NSE asks MTN to make shares available for trading

The Nigerian Stock Exchange (NSE) says it has requested that MTN make its shares available for trading.At present, shares of the telco have only been traded in negotiated or cross deals.In a statement released on its website, the exchange expressed concerns that dealing members who have not been involved in ongoing cross deals have been unable to trade on behalf [...]

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    NNPC: We didn’t exclude disabled people in ongoing recruitment

NNPC: We didn’t exclude disabled people in ongoing recruitment

The Nigerian National Petroleum Corporation (NNPC) says it did not exclude people living with disability in its ongoing recruitment process.Ndu Ughamadu, NNPC group general manager, group public affairs division, disclosed this in an interview with NAN in Abuja on Tuesday.“We have a corporate policy here and we do employ many of the physically challenged persons in the corporation. We have [...]

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    CBN to limit banks’ access to bonds, treasury bills

CBN to limit banks’ access to bonds, treasury bills

The monetary policy committee of the Central Bank of Nigeria (CBN) has directed that a regulatory framework that will limit the access of banks to bonds and treasury bills be put in place.Godwin Emefiele, CBN governor, made this known in Abuja on Tuesday while addressing the press at the end of the committee's meeting."Unfortunately, we have observed that rather than [...]

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    Rewane: No recession in view for Nigeria

Rewane: No recession in view for Nigeria

Bismarck Rewane, an economist and the managing director of Financial Derivatives, says the Nigerian economy will not fall back into recession.Rewane gave the assurance at the USA Fair 2019 on Tuesday in Lagos while speaking on 'Forecast and Recommendations for the Nigerian Economy in Buhari’s Second Term'.According to him, Nigeria’s GDP at $482 billion, growth rate at two percent, and the [...]

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    CBN MPC holds interest rate at 13.5% to ‘understand growth trend’

CBN MPC holds interest rate at 13.5% to ‘understand growth trend’

The monetary policy committee of the Central Bank of Nigeria (CBN)  says it has agreed to keep the monetary policy rate, which measures interest rate at 13.5%.Addressing the press in Abuja on Tuesday after the meeting of the committee, Godwin Emefiele, governor of the apex bank, said nine members voted to hold rates.The asymmetric corridor was retained at +200/-500 basis [...]

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    Unity Bank denies holding TSA funds, says ‘we transferred balances since 2016’

Unity Bank denies holding TSA funds, says ‘we transferred balances since 2016’

The management of Unity Bank has denied accusations of holding on to treasury single account (TSA) funds levelled by the special presidential investigation panel for recovery of public property.In a statement released on Tuesday, the bank said it had transferred all the balances belonging to ministries, departments and agencies of government to the treasury single account held by the Central [...]

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    Report: DisCos require $10bn investment to improve electricity supply in 5 years

Report: DisCos require $10bn investment to improve electricity supply in 5 years

The French Agency for Development (AFD) says the 11 electricity distribution companies (DisCos) in Nigeria will need an investment of $10 billion to improve power supply in the next five years.AFD said it commissioned AF Mercados, a consultancy firm, to carry out an in-depth study of the challenges of the Nigerian Electricity Supply Industry (NESI) with the support of the [...]

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Exchange Rates

May 16, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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