Thursday, May 23, 2019
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    Next to Dangote, gained N183bn in 16 mins — 7 things to know about MTN listing

Next to Dangote, gained N183bn in 16 mins — 7 things to know about MTN listing

On Thursday, MTN made history as the first telecommunication major in Nigeria to be listed on the country's stock exchange.Pascal Dozie, MTN Nigeria chairman, who spoke at the historic event, said: “Today is a major milestone in the evolution of MTN in Nigeria and it is fitting that it takes place 18 years to the day since I made the [...]

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    Jumia: Why we chose New York Stock Exchange over Nigeria’s

Jumia: Why we chose New York Stock Exchange over Nigeria’s

Juliet Anammah, chief executive officer of Jumia Nigeria, says the company chose the New York Stock Exchange for its initial public offering because it needed people experienced in investing in e-commerce stocks.Anammah explained the rationale behind the company's decision on Wednesday at its corporate office in Lagos. also denied allegations of falsified figures levelled against the company by Citron."When you [...]

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    DID YOU KNOW? Nigeria has a law that makes export of yam, beans illegal

DID YOU KNOW? Nigeria has a law that makes export of yam, beans illegal

When President Muhammadu Buhari assumed office in 2015, he said his administration would focus on security, corruption and economic diversification through boosting the agricultural sector.Like he said, "We must eat what we produce".In line with this directive, the Central Bank of Nigeria set up the Anchors Borrowers Programme to improve access to finance for farmers. It also restricted forex for [...]

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    After 18 years, MTN lists on NSE — adds N1.83trn to market cap

After 18 years, MTN lists on NSE — adds N1.83trn to market cap

MTN Nigeria has finally been listed on the Nigerian Stock Exchange.The telecommunications giant was listed on the industries sector of the national bourse, 18-years after its first investor call was made by Pascal Dozie, the brain behind the Diamond Bank."Our MTN Chairman & CEO have been presented with the official plaque, commemorating this monumental milestone in yet another historical moment [...]

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    Zainab Ahmed: We’ve recovered N605bn through whistleblower policy

Zainab Ahmed: We’ve recovered N605bn through whistleblower policy

Zainab Ahmed, minister of finance, says the federal government has recovered N605 billion through the implementation of the whistleblower policy.Ahmed made this known during a briefing on the ministry’s activities in Abuja, on Thursday.The whistleblower policy is an anti-corruption programme that was launched in December 2016. It encourages individuals to report cases of financial mismanagement or stolen funds.As of the [...]

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    Abraham Nwankwo: Infrastructure deficit can be addressed through borrowing

Abraham Nwankwo: Infrastructure deficit can be addressed through borrowing

Abraham Nwankwo, a former director-general of the Debt Management Office (DMO), says Nigeria’s infrastructure deficit can be addressed with debt financing.Nwankwo, who spoke at the annual lecture of a group known as Just Friends Club of Nigeria (JFCN), said the conclusion that public debt should be used to finance Nigeria’s infrastructure needs “is a paradox because of the existing precarious [...]

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    Senate confirms Emefiele for second term as CBN governor

Senate confirms Emefiele for second term as CBN governor

The senate has confirmed Godwin Emefiele for a second term as the Central Bank of Nigeria (CBN).The senate confirmed Emefiele's second-term reappointment by President Muhammadu Buhari at plenary on Thursday.On May 9, Buhari had sent a letter to the senate informing them of his decision to renew the banker's tenure.By the CBN Act, the senate must confirm the nomination before [...]

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    CBN, NIBSS, NIPOST account for N35.2bn stamp duty revenue, deny withholding N20trn

CBN, NIBSS, NIPOST account for N35.2bn stamp duty revenue, deny withholding N20trn

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    Emefiele: Palm oil is more expensive than crude oil in global market

Emefiele: Palm oil is more expensive than crude oil in global market

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), has urged that the federal government to pay more attention to palm oil saying it is more expensive than crude oil.The 57-year-old banker made this statement in Abuja on Wednesday when he appeared before the senate committee on banking, finance, insurance and other financial institution for screening for his second [...]

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    Senate panel endorses Emefiele for second term, dismisses ‘stolen’ N500bn allegation

Senate panel endorses Emefiele for second term, dismisses ‘stolen’ N500bn allegation

The senate committee on banking, insurance and other financial institutions has approved of a second term for Godwin Emefiele, governor of the Central Bank of Nigeria (CBN).While screening Emefiele on Wednesday, members of the committee dismissed the allegations of stolen N500 billion at the apex bank.Rafiu Ibrahim, its chairman, said the allegations were targeted at "bringing you (Emefiele) down because  [...]

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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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