Business - Page 252

$500m World Bank Loan: LCCI Highlights How Nigeria Can Reduce External Borrowing

Nigeria’s Forex Crisis Rooted In Weak Industrial Capacity – LCCI

Gabriel Idahosa, President of the Lagos Chamber of Commerce and Industry, revealed that Nigeria’s prolonged foreign exchange crisis stems from its feeble industrial capacity. Idahosa emphasized the absence of a determined will

Emmanuel Ochayi

February 2, 2024

How Nigeria Can Curb High Airfares On International Routes

Business·Transport

International Airfares Soar By 55% Amid Naira Depreciation

Amid a 55% depreciation of the Nigerian Naira against the US dollar, international airfares have skyrocketed, leaving travelers grappling with exorbitant costs for essential trips. The abrupt shift in the official exchange

Emmanuel Ochayi

February 2, 2024

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business·Finance & Economy

Naira Depreciation: ‘CBN’s New Measure Will Ease Forex Pressure’

Economic analysts have expressed optimism that the latest policy measures issued by the Central Bank of Nigeria will have a positive impact on the foreign exchange market and the economy in general.

Victor Ezeja

February 1, 2024

Official Market Records Decline In Dollar Rate, Trade Flat In Black Market

Business·Currency·News

Naira Rallies Back, Now N1450/$1 At Black Market As CBN Takes Action

In a turn of events, the exchange rate between the Nigerian naira and the US dollar has reached an unprecedented low, trading at around N1450/$1 on the black market, marking a 37.6%

Emmanuel Ochayi

February 1, 2024

Africa·Business·News

Italy Pledges $6bn To Support Africa’s Infrastructure, Job Creation, Agriculture, Others

The government of Italy has committed nearly US$6 billion (€5.5 billion) to support African development, unveiling a plan aimed at fostering economic links and creating an energy hub for Europe. The announcement

Emmanuel Ochayi

February 1, 2024

6 Factors Behind Poor Performance Of Nigeria’s Oil & Gas Stocks This Year

Business·Markets

NGX: GTCO, CHAMS, Others Lead Gainers As ASI Bounces Back With 1.63% Gain

NGX witnessed a bullish resurgence today, marking a departure from the bearish trend earlier in the week. Banking stocks took the lead in this spirited rally, propelling the All-Share Index to a

Emmanuel Ochayi

February 1, 2024

AMA News·Business

FBS Analysts Warn of Bitcoin Downturn Ahead

JOHANNESBURG, South Africa, 1 February 2024 -/African Media Agency(AMA)/- FBS analysts project a looming downturn for Bitcoin as the market players await the upcoming Federal Reserve’s key rate cut in 2024. This tendency signals

Prime Business Africa

February 1, 2024

Why Port Harcourt refinery can’t work this December as promised - Ex-NNPC chief

Business·Oil & Gas

Concerns As Port Harcourt Refinery Test-run Lingers Amid Further Naira Depreciation

The are concerns over the delayed launch of refined products from the Port Harcourt Refining Company.

Emmanuel Ochayi

February 1, 2024

CBN Reforms Yielding Positive Returns As FX Transactions Surge To $800m, CBN Gov Assert

Business·News

CBN Orders Banks To Sell Excess Dollars In 24hrs

The Central Bank of Nigeria (CBN) has issued a circular instructing Deposit Money Banks to sell off excess dollar stocks by February 1, 2024. The directive comes as part of a broader

Emmanuel Ochayi

February 1, 2024

FBN Holding Appoints Otedola As Chairman Days After Return To Forbes African Billionaires

Business·News

FBN Holding Appoints Otedola As Board Chairman Days After Return To Forbes African Billionaires

The First Bank of Nigeria Holdings has appointed Femi Otedola, a Nigerian billionaire, as the new Chairman of its board of directors. The announcement comes on the heels of Otedola’s triumphant return

Emmanuel Ochayi

January 31, 2024

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Business - Page 252

Nigeria’s Forex Crisis Rooted In Weak Industrial Capacity – LCCI

International Airfares Soar By 55% Amid Naira Depreciation

Naira Depreciation: ‘CBN’s New Measure Will Ease Forex Pressure’

Naira Rallies Back, Now N1450/$1 At Black Market As CBN Takes Action

Italy Pledges $6bn To Support Africa’s Infrastructure, Job Creation, Agriculture, Others

NGX: GTCO, CHAMS, Others Lead Gainers As ASI Bounces Back With 1.63% Gain

FBS Analysts Warn of Bitcoin Downturn Ahead

Concerns As Port Harcourt Refinery Test-run Lingers Amid Further Naira Depreciation

CBN Orders Banks To Sell Excess Dollars In 24hrs

FBN Holding Appoints Otedola As Board Chairman Days After Return To Forbes African Billionaires

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