The Naira on Thursday strengthened against the dollar in all the major segments of the market. At the parallel market, the Nigerian currency gained five points to exchange at N385 to the Dollar from the N390 recorded on Wednesday. The Pound Sterling and the Euro traded at N495 and N410, respectively. At the Bureau De […]
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Access Bank Plc has announced the appointment of Mr. Roosevelt Michael Ogbonna, as Group Deputy Managing Director to replace Mr. Obinna Nwosu who recently resigned his appointment to pursue other personal endeavours. The new Group Deputy Managing Director began his illustrious banking career as an Investment Banker 20 years ago. Over the years he has […]
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The International Monetary Fund, IMF, Tuesday, projected that Nigeria’s economic growth would rise by 0.8 per cent in 2017. The agency, in its World Economic Outlook report unveiled in Washington, said continued growth in agriculture, rise in oil output and big government spending will drive the nation’s growth. The outlook also explained how Nigeria will […]
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The Central Bank of Nigeria, CBN, on Tuesday injected about $280 million into various sectors of the market in its determination to sustain liquidity in the foreign exchange market since the commencement of its weekly $20,000 sale to licensed Bureau de Change operators. The bank also announced the opening of bids for $100 million wholesale […]
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The Federal Government has recorded a whopping over N7 trillion in the Treasury Single Account (TSA) towards the end of March 2017, Accountant General of the Federation (AGF), Mr Ahmed Idris has said. In an interview with the Economic Confidential in Abuja, Mr Idris further said the amount represents monies belonging to different Ministries, Departments […]
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The Nigerian Mining and Geosciences Society on Sunday advised the Federal Government to concession the Ajaokuta Steel Company to a competent private operator. Prof. Gbenga Okunlola, the President of the society, gave the advice in an interview with newsmen in Abuja. Okunlola said that although work at the plant had reached 98 per cent completion, […]
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Fidelity Bank Plc (www.FidelityBank.ng) grossed N152.0bn in earnings for the financial year ended December 31, 2016 and is proposing to pay a dividend of 14kobo per share to shareholders. The full year audited results for the top Nigerian lender, released over the weekend at the Nigerian Stock Exchange (NSE), show a 3.5% growth in gross […]
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The Nigerian Stock Exchange (NSE) on Monday said Conoil and 10 other quoted companies have failed to file their 2016 audited results within the stipulated time. The exchange said in a statement in Lagos that the defaulting companies included Capital Hotel, Niger Insurance, A G Leventis, African Alliance Insurance and Austin Laz Company. Others are […]
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Akinwumi Adesina, president of the African Development Bank (AfDB), says Aliko Dangote, may become the largest exporter of rice in the world by 2021. Speaking at the Mo Ibrahim Forum in Morocco over the weekend, Adesina said Africa must focus on agriculture to drive growth and create jobs on the continent. “I remember when I […]
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The Chairman of the United Bank for Africa Plc, Mr. Tony Elumelu, has strongly commended the Federal Government and the Central Bank of Nigeria (CBN) for their efforts in stimulating the Nigerian economy, and bringing to bear a coordinated policy response that will positively jumpstart the Nigerian economy. According to Mr Elumelu, recent actions by […]
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