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Former FCT minister Jumoke Akinjide, others re-arraigned over N650m ▷ Nigeria news

– Jumoke Akinjide has been re-arraigned before a Federal High Court sitting in Lagos for allegedly laundering the sum of N650 million – Akinjide, who is a former minister of the Federal Capital Territory, was re-arraigned on Wednesday, June 26, before Justice Chukwujekwu Aneke – Akinjide was charged by the EFCC alongside a former minister […]

Naira appreciates slightly against dollar at parallel market ▷ Nigeria news

– The naira has gained marginally against the dollar at the parallel market closing at N359.3 to the dollar – The naira shed 20 kobo from N359.5 traded on Tuesday, June 25, while the pound sterling and the euro exchanged at N463 and N408, respectively – The naira exchanged at N306.90 to the dollar at […]

How Naira fared against dollar on Wednesday

The Naira on Wednesday in Lagos gained marginally against the dollar at the parallel market, closing at N359.3 to the dollar. The News Agency of Nigeria (NAN) reports that the Naira shed 20 Kobo from N359.5 traded on Tuesday, while the Pound Sterling and the Euro exchanged at N463 and N408 respectively. At the Bureau […]

CBN orders bank to return mutilated naira notes before Sep 2

The Central Bank of Nigeria (CBN) has said banks now have between June 3 and September 2, to collect and sort all mutilated notes in their possession for reissuing. This was contained in a statement issued by the CBN’s Director of Corporate Communications, Mr Isaac Okorafor, during a meeting with leaders of organised labour in […]

Hands-off fiscal policies, let Naira find its level, ADP tells Emefiele

The Action Democratic Party, (ADP) has called on the Governor of  Central Bank of Nigeria, Godwin Emefile to hand off certain fiscal policies to ensure the stability of the Naira. National chairman of the party, Engineer Yabagi Yusuf Sani in a statement he particularly signed enumerated Anchor  Borrowers Programs and the ban on import items, […]

First Bank to redeem $450 million notes ahead of maturity date

First Bank Plc building FBN Holdings Plc‘s largest subsidiary, First Bank of Nigeria Limited, has disclosed its intended early redemption of the fixed-rate $450 million subordinated note held by FBN Finance Company B.V. This development was made known in a statement that was signed by the Company Secretary, Seye Kosoko, and issued to the Nigerian […]

Bank Recapitalisation: Unions want CBN to be wary of job loses

 Two unions in financial institutions on Wednesday advised the Central Bank of Nigeria (CBN) to carry out the planned recapitalisation in a manner that would not force the banks to go out of business.The two unions are the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), and the National Union of Banks, […]

CBN’s Emefiele said oil discovery threatened Nigeria’s economy

CBN Governor, Godwin Emefiele Governor Godwin Emefiele of the Central Bank of Nigeria (CBN) has stated that the discovery of oil is what exposed Nigeria’s economy to vulnerability. While lamenting Nigeria’s dependence on crude oil revenues, Emefiele stressed that it has caused severe downturns in the agriculture and manufacturing sectors of the economy. He also […]

Expected N351 billion FGN Bond Maturity Boosts Auction Demand

Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills and Bonds. This is brought to you by Zedcrest. This report is dated June 25th, 2019. ***CBN Manufacturing PMI Expands for 27th Consecutive Month*** Key Indicators Bonds: The FGN Bond market remained relatively […]

‘CBN’s interventions strengthening naira’ – Vanguard News

By Peter Okutu Assistant Director and Head of the Internal Communications Division, Corporate Communications Department, Central Bank of Nigeria, CBN, Mr Sam Okogbue, yesterday stated that the numerous interventions by the apex bank were responsible for the strengthening of the country’s currency and economic development. Speaking during CBN’s fair entitled Promoting Financial Stability and Economic […]

CBN’s interventions strengthening naira – Vanguard

Assistant Director and Head of the Internal Communications Division, Corporate Communications Department, Central Bank of Nigeria, CBN, Mr Sam Okogbue, yesterday stated that the numerous interventions by the apex bank were responsible for the strengthening of the country’s currency and economic development.Continue reading ‘CBNs interventions strengthening naira’ at Vanguard News. Click here to read full […]

CBN’s PMI reveals Nigeria’s Manufacturing sector slowed down in June |

The latest Purchasing Managers’ Index (PMI) released by the Central Bank of Nigeria (CBN) shows that Nigeria’s manufacturing sector slowed down in June 2019. According to the CBN’s PMI report, the Manufacturing PMI stood at 57.4 index points in June 2019, down from 57.8 points index recorded in the previous month. Meanwhile, even though the PMI index […]

Re-capitalisation: Economist wants banks to ensure positive impact

CBN An economist, Dr Boniface Chizea, has urged commercial banks and the Central Bank of Nigeria (CBN) to work together to ensure the proposed re-capitalisation had positive impacts on their operations and economy at large. Chizea, the Chief Executive Officer, BIC Consultancy Service, made the assertion on Tuesday in Lagos, while reacting to the Apex […]

Economic, Business and Financial Headlines – 260619

Wednesday, June 26 2019 / 06:50 AM / By News Aggregator / Header Image Credit: @followlasg   Click Here To Read Latest News Updates   PROSHARE ECONOMY Thoughts on CBN’s 5-Year Monetary Policy Blueprint (Re: Monetary Trespass) – It is in this context of the neo-orthodox monetarists in Nigeria that we seek to analyze the meaning […]