Money

Naira gains at official forex market as NAFEX records $209m turnover

Ihesiulo Grace 11 December 2017 0

The Nigerian currency, Naira on Monday, gained further at the official foreign exchange market, with the new closing rate of 306.35 compared to 306.40 to the US Dollar sold on Friday. Even as the Nigerian Autonomous Foreign Exchange (NAFEX) window closed the day with a total transactions

Business Money

Heritage Bank partners Generation Next to position 1, 500 pupils for leadership

Ihesiulo Grace 11 December 2017 0

Heritage Bank Limited, Nigeria’s most innovative banking services provider has partnered Generation Next, a-non-governmental organisation to prepare over 1, 500 secondary school students for leadership role that will take Nigeria to greater heights in the future. The programme, themed: “Raising Emotionally Intelligent Generation,” held in Lagos at the weekend, spanned

Money

Bank credit, a critical for economic growth – CIBN boss

Ihesiulo Grace 7 December 2017 0

The President/Chairman of Council of Chartered Institute of Bankers of Nigeria (CIBN), Professor Segun Ajibola, has again stressed the importance of bank credit in engendering growth and development in an economy. Prof. Ajibola, noted that indeed, banks play an important and active role in the economic development of a country. The erudite scholar of economics, […]

Money

Kano monthly salary payment hits N9b-Ganduje

Ihesiulo Grace 7 December 2017 0

The Kano State Governor, Dr. Abdullahi Ganduje, has said that total sum of N9billion is being spent on a monthly basis for payment of workers’ salaries. Although, he pointed out that his administration is committed and concern about it workers, even when most state governments have not been able to pay salaries as a result […]

Money

Naira rebounds at official FX, extends gains over Euro at parallel market

Ihesiulo Grace 7 December 2017 0

….As NAFEX records $195.6m transactions turnover Following the dropped of the Naira to N307 per US Dollar on Monday for the first time ever at the official foreign exchange, the Nigeria’s local currency, rebounded slightly to close at 306.85, as at close of yesterday trading activities, while the local currency extended its gaining streak against […]

Money

PMI hikes to 55.9 points in November

Ihesiulo Grace 3 December 2017 0

…highest in three years The Central Bank of Nigeria (CBN) has disclosed that its Purchasing Manufacturing Index (PMI) increased to 55.9 index points in November, record high in three years. The apex bank had report PMI of 55 Index points in October and 55.3 Index points in September. The PMI, an indicator of the economic […]

Money

NAFEX boosted investors’ confidence with $4.3bn turnover in one month

Ihesiulo Grace 3 December 2017 0

The Nigerian Autonomous Foreign Exchange (NAFEX) window, has again boosted already restored investors’ confidence in the Nigerian foreign exchange management and policies, as well as it rebounded economy, with the total transacted turnover of $4.3 billion in one month. In just four days of the concluded week alone, the autonomous forex window declared traded figure […]

Money

N3.88bn Agric scheme: Edo, Ogun lead 32 other states- CBN

Ihesiulo Grace 3 December 2017 0

The Central Bank of Nigeria (CBN) has disclosed that Edo and Ogun states lead in its N3.88 billion Agricultural Credit Guarantee Scheme (ACGS) in 34 states. Data from the apex bank disclosed that a total of 27,207 farmers, both individual and informal group have participated in the scheme between January and August 2017. In line […]

Money

Commercial banks’ NPLs hit N2.42trn in Q3-NDIC

Ihesiulo Grace 1 December 2017 0

The total figure of Non-Performing Loans (NPLs) in the Nigeria’s commercial banks, as at the end of third quarter (Q3) put at N2.42 trillion or 15.18 per cent as at September 30, 2017, the highest in over 10 months, the Nigeria Deposit Insurance Corporation (NDIC) has revealed. According to NDIC, the banking industry in 2016 […]

Money

Sterling Bank clicks best financial inclusion company

Ihesiulo Grace 28 November 2017 0

Sterling Bank Plc has won the best company in financial inclusion award at the SERAs CSR Africa 2017 awards held recently in Lagos. The theme of this year’s edition of the awards is transformation sustainability: From Social Responsibility to Social Impact. The award was received on behalf of the bank by Mr. Olufemi Ojo-Omoniyi, Head, […]

Money

World Business System: Omojafor lauds ICC over corporate governance

Ihesiulo Grace 28 November 2017 0

Former Chairman of Zenith bank and marketing communication guru, Sir. Steve Omojafor, said the role played by the International Chamber of Commerce in restoring and entrenching corporate governance and sanity into the world business system is unmatched. Omojafor, made this disclosure at the 2017 annual Dance and Dinner of the International Chamber of Commerce Nigeria […]

Money

Naira loses at parallel market as capital inflows hit $4.2bn in Q3

Ihesiulo Grace 28 November 2017 0

The Naira, on the second trading day of the week suffered a significant setback at the parallel market segment of the foreign exchange market, with closing rates of Pound sterling and the Euro at 480 against 475 traded on Monday and 430 to the Euro, compared to 425 exchanged the same period. This is just […]

Money

PTAD in Delta, verifies 5,000 pensioners

Ihesiulo Grace 27 November 2017 0

….PTAD appeals to pensioners over delayed October payment The on-going pension verification exercise has been extended to Delta State beginning with pensioners of Delta Steel Company and Federal Housing Authority involving more than 5,000 pensioners. Executive Secretary, PTAD, Mrs. Sharon Ikpeazor assisting in verification of pensioners, Cross -section of pensioners

Money

NAFEX transactions turnover hits $1.06bn in one week

Ihesiulo Grace 27 November 2017 0

….As Naira steadies across FX markets, lifted by $287.9 The Nigerian Autonomous Foreign Exchange (NAFEX) widow, recorded total turnover trade of $1.06 billion in just one week, between Monday 20 November and Friday 24 November 2017, findings by the Daily Times Nigeria have revealed. However, the Naira, at the end of Friday sustained the slightly […]

Money

Currency in circulation hits N1.79trn in October

Ihesiulo Grace 22 November 2017 0

The total currency in circulation as at end of October, 2017, has increased to N1.79 trillion against recorded figure of N1.78trn in September; data from the Central Bank of Nigeria (CBN) has showed. The new figure, base on month-on-month (m-o-m), grew by 0.6 per cent, even though the Nigerian currency in circulation was estimated at […]

Money

Lagos pays N141.59B to bond holders

Ihesiulo Grace 22 November 2017 0

The Lagos State Government says it has paid the total sum of N141.59 billion to bond holders in its various fixed rate bond programmes. The bonds are the Lagos State N80bn fixed rate programme 2, Series 1 floated in 2012 with a maturity date of 2013; N87.5bn fixed rate programme 2, Series 2 floated in […]

Money

MPC uncertainty: Investor & Exporter FX window turnover declines to $78.5m

Ihesiulo Grace 22 November 2017 0

……Policy parameters unchanged The continuous uncertainty surrounding the likely outcome of the last Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) for 2017, has pushed Importer & Exporter FX daily turnover down to $78.5 million as at end of Tuesday’s trading activities, compared to $346.90m sold on Monday. The I&E FX

Money

Naira drops against major foreign currencies at parallel market

Ihesiulo Grace 20 November 2017 0

…..Worst in two months …..Stables at official FX with $1.15bn NAFEX turnover in one week The Naira, over the weekend, depreciated further at the parallel segment of the foreign exchange market, with closing rate of 366 to the US Dollar, represented the worst in the last two months, as well as recorded significant drop against […]

Money

Sterling Bank boosts street cleaning with 600 jackets in Plateau

Ihesiulo Grace 17 November 2017 0

Sterling Bank Plc, on Thursday donated 600 customized reflective uniforms to the Plateau State Environmental Protection & Sanitation Agency (PEPSA) for distribution among its highway sweepers and workers in Jos, Plateau state capital. Business Executive, Sterling Bank (North East), Abbas Yerima, presented the uniforms to the Governor of Plateau State, Simon Lalong, who

Business Money

Naira steadies against Dollar, Pound, weakens to Euro

Ihesiulo Grace 15 November 2017 0

….As NAFEX records $86.99m The Naira, for the third day running this week stood steadied at 363 to the US Dollar and Pound at 472, respectfully, but was seen at a relapsed closing rate of 422 per Euro after gaining two points earlier in the week at the parallel market. At the official forex market […]