Saturday, January 19, 2019

Tag "cbn"

    Bailout: CBN demands debt profiles of states

Bailout: CBN demands debt profiles of states

The Central Bank of Nigeria (CBN) has has state governments to present details of their loan obligations before the end of Wednesday.The directive was contained in a statement issued by the ministry of finance.Godwin Emefiele, the CBN governor, issued the directive at an extra-ordinary meeting convened to share the revenue received from the Nigerian Liquefied Natural Gas (NLNG) to the three tiers [...]

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    Buhari okays N400bn bailout for unpaid salaries

Buhari okays N400bn bailout for unpaid salaries

President Muhammadu Buhari has approved more than N400 billion as an intervention fund to end the lingering crisis of unpaid workers’ salaries in about 18 states of the federation.According to Channels Television, the relief package also includes about N300 billion soft loan for states for the purpose of paying the backlog,About $2.1 billion of the money was said to be [...]

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    CBN extends BVN registration to October 31

CBN extends BVN registration to October 31

The Central Bank of Nigeria (CBN) has extended the deadline for the bank verification number (BVN) registration to October 31, 2015.The bank said the extension was meant to facilitate smooth completion of registration.Dipo Fatokun, CBN’s director for banking and payment system department, disclosed this in a statement issued in Abuja on Tuesday.“It has come to our notice that the BVN [...]

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    THE FILE: After one month, what does Nigeria look like under President Buhari?

THE FILE: After one month, what does Nigeria look like under President Buhari?

After 12 years of taking shots at the highest office in the country, President Muhammadu Buhari finally took over the reins of government exactly one month ago. The president rode to power on goodwill. Frustrated by endemic corruption, infrastructural decay, insecurity and unemployment in the country, Nigerians perceived Buhari as the messiah who would solve their problems.On his part, Buhari promised not [...]

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    N8bn currency scam: Court grants bail to five bankers

N8bn currency scam: Court grants bail to five bankers

Olayinka Faji, a judge of a federal high court in Ibadan, Oyo state, has granted bail to five employees of three commercial banks involved in the N8 billion mutilated currency scam.However, the court denied bail to 10 others, including three employees of the Central Bank of Nigeria (CBN).The five officials are Ademola Adewale of Wema Bank, Kehinde Fatokun, Olukunle Sijuade [...]

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    Naira depreciates against major currencies

Naira depreciates against major currencies

The naira at the parallel market depreciated against three international currencies at the close of trading for the week.A survey carried out by NAN in Lagos on Friday showed that the Nigerian currency depreciated by N1 or 0.45 per cent against the dollar due to high demand.It sold for N221 against the dollar from the N220, which was the rate [...]

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    CBN: Spend foreign currency in Nigeria and be jailed

CBN: Spend foreign currency in Nigeria and be jailed

The Central Bank of Nigeria (CBN) has warned against the use of foreign currencies such as dollar, euro, and pound sterling as mediums of exchange in the country, saying it is an offence punishable by a six-month prison term.Ibrahim Mu’ azu, director of corporate communications at CBN, expressed the apex bank's concerns with the increasing use of foreign currencies as mediums of payment by [...]

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    Watch Mayweather v Pacquiao live for…N25m!

Watch Mayweather v Pacquiao live for…N25m!

The Black Market is illegal, but that’s where you can get a ticket for the May 2 bout between Floyd Mayweather and Manny Pacquiao at the moment.And it doesn’t come cheap.The few tickets for the fight of the century were made available to the public and unsurprisingly snapped up in seconds after they went on sale Thursday night.Even less [...]

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    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 [...]

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    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 [...]

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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 [...]

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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 [...]

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    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 [...]

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    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, [...]

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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 [...]

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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 [...]

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Exchange Rates

January 16, 2019USDGBPEUR
INTERBANK306397354
LAGOS362463411
KANO361465413
PH361462412
ABUJA362462413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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