Saturday, September 22, 2018

Tag "cbn"

    NNPC: Sanusi must apologise for false alarm

NNPC: Sanusi must apologise for false alarm

The Nigerian National Petroleum Corporation (NNPC) has alleged that Muhammadu Sanusi, emir of Kano and former governor of the Central Bank of Nigeria (CBN), is bent on spreading false allegations targeted at tarnishing the reputation of the organisation.Reacting to the claim of Sanusi that the government had not addressed the issues he raised concerning alleged missing $20 billion, the corporation [...]

2 comments Read Full Article
    Soludo replies Jonathan, says money stolen from economy far exceeds annual federal budget

Soludo replies Jonathan, says money stolen from economy far exceeds annual federal budget

Charles Soludo, a former governor of the Central Bank of Nigeria (CBN), on Tuesday renewed his attacks on the administration of President Goodluck Jonathan.Soludo, who has been accusing the government of handling the economy poorly, earlier vowed to suspend his comments about the country till the general election is over.But breaking his vow in a lengthy piece released on Tuesday, Soludo said that [...]

1 comment Read Full Article

Naira hits N217 to dollar at black market

The naira depreciated by N5 to the dollar on Friday, trading N217 at the black market and N215 at the Bureau De Change (BDCs) segment of the official market.A dealer, who did not want to be named, told NAN in Lagos that the depreciation might be due to the closure of the Retail Dutch Auction System (RDAS) by the CBN.It [...]

2 comments Read Full Article

Naira hits N213 to dollar at BDC, black market

The naira lost N4 to the dollar to sell at N213 at the black market and N210 at the Bureau De Change (BDCs) segment of the official market.A dealer, who preferred anonymity, told NAN that the depreciation might not be unconnected with the closure of trading at the interbank market by the Central Bank of Nigeria (CBN).The dealer also said [...]

0 comment Read Full Article
    Soludo: Now, Okonjo-Iweala will sit up

Soludo: Now, Okonjo-Iweala will sit up

Charles Soludo, a former governor of the Central Bank of Nigeria (CBN) and former Anambra state governorship aspirant, says his recent criticism of the economy under Ngozi Okonjo-Iweala, the minister of finance and coordinating minister of the economy, has brought about a change.Maintaining that he achieved his intended objective for opening cans of worm, Soludo expressed optimism that there would [...]

0 comment Read Full Article
    GEJ gets audit report on NNPC’s ‘missing $20bn’

GEJ gets audit report on NNPC’s ‘missing $20bn’

President Goodluck Jonathan has received the forensic audit report on the Nigerian National Petroleum Corporation (NNPC) from the internationally reputed auditing firm, PriceWaterHouseCoopers.The federal government had directed the firm to audit NNPC following allegations of Lamido Sanusi, immediate past governor of the Central Bank of Nigeria (CBN), that $20 billion was missing from the corporation's account.Speaking while receiving the report, [...]

0 comment Read Full Article

Naira rises to N202 per dollar

Following the Central Bank of Nigeria's (CBN) plan to upwardly review the weekly Forex cash sales to Bureau De Change (BDC) operators,the naira rebounded to gain N6 against the dollar on Monday.The appreciation was recorded at the parallel and black markets.Checks by NAN revealed that in Lagos, the naira sold for N202 at the two markets from the N208 it [...]

0 comment Read Full Article

Naira falls further to N208 to a dollar

The naira depreciated against the dollar on Friday, as it traded at N208 from the N191.50 it sold for on Monday, January 19.The new rate has made the naira to lose N16.50 within five days.However, on the website of the Central Bank of Nigeria (CBN), the naira stood against the dollar at N167.50, while the pound sold for N253.20 and [...]

0 comment Read Full Article
    Another Lagos market razed by fire

Another Lagos market razed by fire

Goods and property worth millions of naira were destroyed by fire on Friday at the popular Berlin Market, near Mandilas on Williams Street, off Marina in central Lagos.The incident occurred four days after five buildings were razed in the popular Balogun Market located also in central Lagos.The cause of the fire is yet to be ascertained but the people who [...]

0 comment Read Full Article

CBN reviews banks’ foreign currency trading positions

The Central Bank of Nigeria (CBN) has reviewed the daily foreign currency trading positions of banks.The apex bank directed that foreign exchange bought either from autonomous or interbank market should be returned if not utilised.This development was contained in a circular titled: 'Daily foreign currency trading positions of bank and period for utilisation of funds'.The circular was issued to all [...]

0 comment Read Full Article
    Senate confirms Nnanna as CBN deputy governor

Senate confirms Nnanna as CBN deputy governor

The senate has approved the nomination of Joseph Nnanna (pictured middle) as the deputy governor of Central Bank of Nigeria (CBN).Nnanna's confirmation followed consideration of the report on his screening by the senate's joint committee on banking, insurance and other financial institutions.The committee had in its report, described Nnanna as a vibrant economist, who convinced members of the screening committee [...]

1 comment Read Full Article

Naira appreciates to 187, 188 against the dollar

The naira appreciated against the dollar at both the official and parallel markets, a survey conducted by NAN in Lagos, revealed on Friday.At both segments, the naira gained three naira to trade at between N187 and N188, respectively from the N190 and N191 it traded on January 5.The naira also appreciated against the pound sterling at the Bureau De Change (BDC), [...]

0 comment Read Full Article
    Naira devaluation ‘will increase unemployment’

Naira devaluation ‘will increase unemployment’

Obida Wafure, a doctor of economics at the University of Abuja, believes that the recent devaluation of the naira by the Central Bank of Nigeria (CBN) would trigger unemployment and closure of industries.Speaking with NAN on Thursday in Gwagwalada, Abuja, Wafure said that the devaluation would have both negative and positive effects as it would encourage local industries while bringing about [...]

0 comment Read Full Article
    Devaluation sends dollar to N186 in black market

Devaluation sends dollar to N186 in black market

The exchange rate for the dollar in Abuja “black market” on Wednesday stood between N182 and N186,the news Agency of Nigeria revealed on Wednesday.This is against the new official exchange rate N168 announced by Godwin Emefiele, governor of Central Bank of Nigeria (CBN), on Tuesday.A correspondent of NAN who checked near the Sheraton hotel, Zone 4, Abuja, the rendezvous for most [...]

0 comment Read Full Article
    Reps oppose N50bn CBN bailout for distressed banks

Reps oppose N50bn CBN bailout for distressed banks

The federal house of representatives on Thursday stopped an amendment act of the Asset Management Corporation of Nigeria (AMCON) proposing a yearly payment of N50 billion by the Central Bank of Nigeria (CBN) into the resolution cost fund.The proposed bill provides that the N50 billion should be paid periodically as determined by the CBN board.The contributory fund, also known as a [...]

0 comment Read Full Article

CBN: We don’t launder funds for Boko Haram

The Central Bank of Nigeria (CBN) is denying allegations levelled against a member of its staff by Stephen Davis, an Australian negotiator, who tried to negotiate the release of the abducted Chibok schoolgirls.In an interview with TheCable, Davis had said that some commanders of the sect confided in him that an official of CBN was helping to fund the sect by making those [...]

0 comment Read Full Article
Advertisement

 

Advertisement

Advertisement

Exchange Rates

September 21, 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.
Advertisement
Advertisement
Advertisement