Money News

Naira stables at interbank, other forex segments

Ihesiulo Grace 16 February 2018 0

…As external reserves hit$42.8m The Nigerian currency, Naira, at the close of Thursday’s trading activities , stabled against the US Dollar and other major foreign currencies, at the official inter-bank market, as well at the unofficial market and other forex segments, checks by The

Money News

How CBN leveraged technology to eliminate ghost farmers

Ihesiulo Grace 16 February 2018 0

…Farmers’ biometric taken The Central Bank of Nigeria (CBN) has introduced technology to guide input distribution to farmers, in order to enhance input distribution and elimination of ghost farmers, so as to improve operational of the Anchor Borrower’s Programme (ABP). The apex bank, in a document ,explained that the pilot phase, which was flagged off

Money

Preventing gender violence: Diamond Bank partners WARIF

Ihesiulo Grace 14 February 2018 0

As part of efforts in preventing gender violence in the country, Diamond Bank Plc, has partnered Women at Risk International Foundation’s (WARIF) initiative to prevent gender-based violence and abuse against women in Nigeria. The project which is aimed at educating secondary school girls between the ages of 13-16 years, will use specially designed curriculum that […]

Money

Naira steadies across major foreign currencies

Ihesiulo Grace 14 February 2018 0

The Nigerian currency, Naira, on Tuesday steadied against major foreign currencies at the official and unofficial foreign exchange markets, just as the Central Bank of Nigeria (CBN) on Monday injected $210 million into the interbank foreign exchange market The local currency, at the official Spot market, stabled at N305.90 per dollar, the same rate it […]

Business Money

Naira gains at I&E, strengthened over pound, Euro at parallel market

Ihesiulo Grace 13 February 2018 0

The Naira, at the close of Monday trading activities gained over the US Dollar at the Investors and Exporters (I&E) FX window, and as well strengthened against the pound sterling and the Euro at the parallel segment of the foreign exchange market. This was not the case at the official Spot market, closing at N305.90 […]

Money

Naira to remain stable amidst regular FX injections

Ihesiulo Grace 12 February 2018 0

…As Naira remains flat at official, parallel markets …Gains at I&E FX market, as BDCs close at N361/|$1 Foreign exchange traders are optimistic that the Nigerian currency, Naira, will remain stable during the week ahead, amidst expectations that the forex market and its segments will be continually lifted by the weekly FX intervention(s). The naira, […]

Money

FDC predicts January inflation rate at 14.90%

Ihesiulo Grace 12 February 2018 0

Analysts at Financial Derivates Company Limited (FDC) have predicted that inflation rate will plunge to 14.90 per cent in January 2018. According to FDC report, “We forecast that year-on-year headline inflation will plunge to 14.9per cent in January 2018. This is a 0.47per cent decline from 15.37 per cent in December 2017. “If our estimates […]

Business Money

Naira stables as forex market lifted with $210m

Ihesiulo Grace 7 February 2018 0

Following the fresh injection of the total sum of $210 million into the interbank foreign exchange market, the Nigerian currency, Naira on Tuesday stabilised at the official FX market. As at close of yesterday trading activities, the naira stood at an unchanged rate of N305.80 per dollar at inter-bank foreign exchange market, the same rate […]

Business Money

Forex: Banks ordered to halt commission charges, harmonise FX rate at N360/$1

Ihesiulo Grace 7 February 2018 0

The Bankers committee of the Central Bank of Nigeria (CBN) has directed commercial banks operating in the country to stop commission charges from Nigerians on sales of Personal Travel Allowance (PTA), Basic travel Allowance (BTA), among others, as foreign exchange rate now hamonised at N360 to the US Dollar. The bankers committee, which includes all […]

Money

NEXIM bank, BDEAC sign partnership agreement on regional trade

Ihesiulo Grace 6 February 2018 0

NEXIM Bank, BDEAC partner on regional trade The Managing Director of the Nigerian Export-Import Bank (NEXIM) Mr. Abba Bello has said that NEXIM bank and the Development Bank of the Central African States (BDEAC) have signed a Memorandum of Understanding MoU on promotion of regional trade and investments. Bello, while receiving a delegation from BDEAC […]

Money

Skye Bank gets Obazelu of Benin’s commendation for rewarding customers

Ihesiulo Grace 5 February 2018 0

The Obazelu of Benin Kingdom, Chief Osaro Idah, has commended Skye Bank Plc., for rewarding loyal customers, making people happy and helping their businesses to grow. He said this during the presentation of N1 million cheque to Mrs. Eunice Odubor, an Inspector with Civil Defence Corps, who emerged a lucky winner in the bank’s on-going […]

Money

Unity bank strengthen retail banking with *7799# short code services

Ihesiulo Grace 5 February 2018 0

As part of effort to strengthen retail banking offering and expand channels for financial inclusion penetration, Unity Bank has rolled out its Unstructured Supplementary Service Data (USSD) short code: *7799# in order to enhance customer access to quality banking services. Unity Bank’s USSD(*7799#) code is the first 4 digit code to be introduced to the […]

Business Headlines Money

External reserves hit $40.63bn, gain $1.9bn in one month

Ihesiulo Grace 5 February 2018 0

… as CBN targets $60bn reserves in 2019 Despite continuous injections of US Dollar into the official foreign exchange market to support the local currency, the Nigerian external reserves during the first month in 2018, has recorded a whopping gain of $1.85 billion, while compared $40.625bn stood as at end of January 30, 2018 from […]

Money

FBNQuest’s PMI slips to 54.6 in January

Ihesiulo Grace 2 February 2018 0

Manufacturing Purchasing Managers’ Index (PMI) declined to 54.6 from 68.7 in January, says FBNQuest in its latest report. The report put together in collaboration with NOI Polls, showed that all five sub-indices declined in December, four of them by more than ten points and that of employment moved into negative territory. “We cautioned one month […]

Money

Naira relapses against dollar at official forex market

Ihesiulo Grace 2 February 2018 0

…Drops points over pound at parallel segment …As I&E FX window records $321.21m After trading at N305.70 against the US Dollar for three consecutive days during the week, the Nigerian currency, Naira, on Thursday, relapsed to close at a slightly depreciated rate of 360.75 at the official foreign exchange market, data obtained from the FMDQ […]

Business Money

Afreximbank announces Aenergy as new shareholder

Ihesiulo Grace 31 January 2018 0

Following its successful subscription to Class “B” shares of the African multilateral trade finance bank, the African Export-Import Bank (Afreximbank) has announced the coming on board of Angola-based pan-African conglomerate Aenergy as a shareholder. The shareholding became effective on 25 January and followed discussions between the Bank and representatives of Aenergy

Business Money

Naira trades flat at N364/$1 for 3 days at unofficial FX market

Ihesiulo Grace 18 January 2018 0

For three consecutive days now, the Nigerian currency, Naira has been trading flat at N364 to the US Dollar at the unofficial foreign exchange market, checks by The Daily Times have revealed. The Naira, on Wednesday also remained unchanged against the two other major foreign currencies, Pound sterling and Euro, to close at N488 and […]

Business Money

2018 outlook: Experts project 12.9% inflation rate in 2018

Ihesiulo Grace 18 January 2018 0

Following the latest report by the National Bureau of Statistics (NBS) that the Nigeria’s annual inflation has slowed for the 11th consecutive period in December, analysts at CardinalStone Research have predicted improved rate of 12.9 per cent by end of December 2018. The new statistic report showed that the rate eased to 15.37 per cent […]

Money

Access Bank deepens depositors’ dispute resolution

Ihesiulo Grace 16 January 2018 0

…enhances customer service upgrades Consistent with its reputation for adopting best practices in all facets of its operations, Access Bank Plc has upgraded its customer service function, Ombudsman, for the purpose of resolving service issues between the Bank and its customers. The Ombudsman is an Alternate Dispute Resolution (ADR) platform wherein an aggrieved

Money

Sterling Bank: 128 customers get N12.8m in ongoing promo

Ihesiulo Grace 16 January 2018 0

Sterling Bank has rewarded 128 customers with N100,000 each in its ongoing promo tagged: 1dament at the first general draws held in Lagos. The draws, which held at the Bank’s head office saw two more customers of the bank emerged winners of an all-expense paid trip to watch the first match the Nigeria’s Super Eagles […]