Friday, October 19, 2018
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    Train 7 means everything to Nigeria, says Nigeria LNG MD

Train 7 means everything to Nigeria, says Nigeria LNG MD

Tony Attah, the managing director and CEO of Nigeria LNG Limited, biggest sub-Sahara African single investment, speaks with BusinessWorld's Nik Ogbulie on the expansion of Africa’s premier gas plant and a range of other issuesA few weeks ago some members of the European missions in Nigeria visited your company. What was the purpose?My assumption is that you are referring to [...]

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    Oniha: FG working on ways to avoid debt crisis

Oniha: FG working on ways to avoid debt crisis

Patience Oniha, director general of the Debt Management Office (DMO), says the federal government is working on generating long-term revenue to avoid a debt crisis.Addressing journalists on the sidelines of the ongoing annual meetings of the International Monetary Fund and World Bank Group, Oniha said Nigeria is not currently experiencing a debt crisis."Debt crisis means your ability to service your [...]

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    World Bank: We were wrong to advise Nigeria to invest hard in infrastructure

World Bank: We were wrong to advise Nigeria to invest hard in infrastructure

Jim Yong Kim, World Bank president, says the institution's advice to countries, including Nigeria to invest hard infrastructure was a wrong approach.Commenting on Nigeria's ranking while unveiling the bank's first-ever Human Capital Index,  Kim said the bank is taking responsibility for its actions.The index measures countries’ contribution of health and education to the productivity of the next generation of their [...]

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    IMF recommends ways of boosting Nigeria’s revenue

IMF recommends ways of boosting Nigeria’s revenue

The International Monetary Fund (IMF) has suggested ways that Nigeria can boost its revenue outside crude oil to reduce the country's reliance on lending.Speaking at her maiden press conference for the ongoing annual meetings of the IMF and World Bank Group, Christine Lagarde, IMF managing director, recommended a tight monetary policy."I would certainly start with a tight monetary policy, higher [...]

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    Nigeria among bottom seven in World Bank’s first ever Human Capital Index

Nigeria among bottom seven in World Bank’s first ever Human Capital Index

Nigeria has been ranked 152 out of 157 countries in the first-ever Human Capital Index released by the World Bank Group.Unveiling the report on Thursday at the ongoing annual meetings of the World Bank Group and International Monetary Fund (IMF) in Bali, Jim Yong Kim, World Bank president, said educational outcomes from Nigeria are too poor."Nigeria, unfortunately, ranks 152 out of [...]

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    AMCON to sell Polaris Bank ‘in less than two years’

AMCON to sell Polaris Bank ‘in less than two years’

The Asset Management Corporation of Nigeria (AMCON) says it plans to sell Polaris Bank within two years.Ahmed Kuru, chief executive officer, AMCON, said this in an interview with Bloomberg in Lagos.The Central Bank of Nigeria (CBN) had revoked the operating licence of Skye Bank in September for failing to meet capital and liquidity requirements.Polaris Bank was subsequently approved as a [...]

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    FG issues another N100bn Sukuk bond

FG issues another N100bn Sukuk bond

The federal government has announced the approval for the issuance of a second tranche of N100 billion Sukuk bond.This was disclosed at a two-day training on Sukuk structurisation and management in Abuja.The training was organised by the Metropolitan Skills Ltd in collaboration with the ministry of finance, and Standing Committee for Economic and Commercial Cooperation of the organisation of the [...]

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    Ighodalo named chairman Nigerian Economic Summit Group

Ighodalo named chairman Nigerian Economic Summit Group

The board of directors of the Nigerian Economic Summit Group (NESG) has announced the appointment of Asue Ighodalo, as its new Chairman.Ighodalo, a founding partner of Banwo & Ighodalo, one of the foremost commercial law firms in Nigeria, took over the reins following the resignation of Kyari Bukar on September 17, 2018.The revered lawyer obtained his first degree in Economics [...]

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    Follow TheCable as Zainab Ahmed replaces Adeosun at 2018 IMF/WBG meetings

Follow TheCable as Zainab Ahmed replaces Adeosun at 2018 IMF/WBG meetings

After echoes from the 2018 Spring meeting of the International Monetary Fund and the World Bank Group advising countries to invest in human capital, world leaders and economic experts have gathered again to discuss ways of helping countries build a forte.Countries across the world are looking to build forte against natural disasters and financial crisis.The business and finance world will [...]

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    Afreximbank lobbies Nigeria to increase shareholding

Afreximbank lobbies Nigeria to increase shareholding

The African Export-Import Bank (Afreximbank) says it is hoping that Nigeria will increase its shareholding in the bank.Benedict Oramah, president of the bank, made this known to journalists on Wednesday while addressing journalists on the sidelines of the ongoing annual meetings of the World Bank Group and International Monetary Fund (IMF)."Nigeria is still a major shareholder of the bank although [...]

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Exchange Rates

October 15, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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