Wednesday, September 19, 2018
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    Tonye Cole resigns from Sahara Energy to join politics

Tonye Cole resigns from Sahara Energy to join politics

Tonye Cole, an executive director of Sahara Group, has resigned from his position to join active politics.Cole, who co-founded the company in 1996, will be contesting for the gubernatorial seat in Rivers."The Board and management of The Sahara Group of Companies wish to inform the general public and other stakeholders that one of our co-founders and Executive Director, Mr Tonye [...]

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    Ernest Ebi: A lot of people in Nigerian banking have big titles but no experience

Ernest Ebi: A lot of people in Nigerian banking have big titles but no experience

Ernest Ebi, chairman of the board of Fidelity Bank, says there are a lot of people in the Nigerian banking sector with big titles but no experience.In an interview published in the bank's quarterly magazine, Ebi said there is an urgent need to address the quality of human capacity in the sector."I agree with you that the quality of human [...]

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    Researcher: Nigeria losing N10bn to post-harvest losses

Researcher: Nigeria losing N10bn to post-harvest losses

Michael Ojo, the country director, Global Alliance for Improved Nutrition (GAIN), says preliminary research shows that Nigeria is losing up to N10 billion on post-harvest damages.Ojo made this known to NAN on Sunday on the sidelines of the just-concluded 'NutriPitch, the Nourish Nigeria Challenge.NAN reports that the Nourish Nigeria Challenge is a programme by SBN in partnership with Global Alliance [...]

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    Nigeria signs $328m ICT agreement with China

Nigeria signs $328m ICT agreement with China

Nigeria has signed a $328 million agreement with China on the National and Communication Technology Infrastructure Backbone (NICTIB) Phase 11.The NICTIB 11 project is aimed at developing information and communications technology in Nigeria.Garba Shehu, senior special assistant to President Muhammadu Buhari on media and publicity, disclosed this in a statement on Saturday.NAN reports that the agreement was signed when Buhari arrived [...]

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    Aero Contractors increases number of flights, takes delivery of more aircraft

Aero Contractors increases number of flights, takes delivery of more aircraft

Aero Contractors says it has expanded its operations with the delivery of more aircraft to its fleet.According to NAN, Ado Sanusi, CEO of the company, said the number of flights to Abuja from Port Harcourt, Sokoto, Asaba, Port Harcourt and Kano from Lagos have been increased.He said the airline will as from September 17 start flying daily on the Abuja-Port [...]

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    Volkswagen signs MoU to make Nigeria automotive hub in West Africa

Volkswagen signs MoU to make Nigeria automotive hub in West Africa

German Automobile manufacturer, Volkswagen, has signed a memorandum of understanding (MoU) with Nigeria to turn the country into the “automotive hub” of West Africa.The agreement was signed during German Chancellor Angela Merkel’s visit to Nigeria, with Okey Enelamah, minister of industry, trade and investment, present at the signing ceremony in Abuja.The car manufacturer also signed a MoU with Ghana to [...]

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    NAFDAC planning 10-year limit on imported drug registration

NAFDAC planning 10-year limit on imported drug registration

The National Agency for Food, Drug Administration and Control (NAFDAC) says it is planning to place a 10-year limit on registration of imports on pharmaceuticals to encourage local production of drugs.Christianah Adeyeye, NAFDAC director general, made this known at a stakeholders’ meeting tagged: “A Date with the Director- General, NAFDAC” on Friday in Lagos.The NAFDAC boss said that the agency [...]

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    UBA appoints new non-executive board members

UBA appoints new non-executive board members

The United Bank for Africa has appointed four new non-executive board members, subject to the approval of the Central Bank of Nigeria (CBN).The new board members are Erelu Angela Adebayo, Angela Aneke, Abdulqadir Jeli Bello and Isaac Olukayode Fasola.According to a statement released on Friday by the bank, the new board members were appointed to replace Rose Okwechime, Adekunle Olumide, [...]

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    Naira stable as rand, peso tumble

Naira stable as rand, peso tumble

The Nigerian Naira maintained stability against the Dollar on Thursday despite growing expectations over higher US interest rates this year.It is becoming clear that that the Central Bank of Nigeria’s repeated intervention in the FX market has resulted in a stable Naira exchange. Although this method could continue supporting the local currency, Nigeria’s external reserves may come under pressure.Sentiment towards [...]

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Exchange Rates

September 18, 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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