Business - Page 44

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

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

3 months ago

Africa·Business·Latest 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

3 months ago

Equity Market Sees Second Consecutive Day Of Gains, Investors Gain N303bn

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

3 months ago

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

3 months ago

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

3 months ago

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

Business·Latest 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

3 months ago

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

Business·Latest 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

3 months ago

Business

Relocation Of Some CBN Units To Lagos Will Ensure Efficient Oversight Of Banks – Economist

As reactions continue to trail the decision of the Central Bank of Nigeria (CBN) to relocate some of its departments from Abuja to Lagos, some economic experts have averred that it is

Victor Ezeja

3 months ago

Business·Currency

Naira Fall: CBN Sets Limit For Banks To Manage Forex Risks

The Central Bank of Nigeria (CBN) has placed restrictions on the amount of foreign exchange that banks may retain to prevent losses. This is as the country’s economy continues to witness depreciation

Victor Ezeja

3 months ago

Business

CBN, Foreign Airlines Differ On $700m Trapped Fund

The Central Bank of Nigeria (CBN) declared on Tuesday that it had settled all verified claims by foreign airlines, culminating in an additional payment of $64.44 million

Emmanuel Ochayi

3 months ago

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Business - Page 44

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

Relocation Of Some CBN Units To Lagos Will Ensure Efficient Oversight Of Banks – Economist

Naira Fall: CBN Sets Limit For Banks To Manage Forex Risks

CBN, Foreign Airlines Differ On $700m Trapped Fund

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