Category Archives: Featured

CBN auctions N34bn treasury bills

The Central Bank of Nigeria (CBN) held a treasury auction on Wednesday to try to lure foreign investors. According to Reuters, traders said the central bank asked them to increase their rates at a bills auction on Wednesday compared with

Stakeholders seek clarification of forex ban for food import

Industry stakeholders have called for further clarification on the recent pronouncement by President Muhammadu Buhari that Nigeria has attained food security, and as such, the Central Bank of Nigeria (CBN), should not extend access to foreign exchange (forex) for food

Ecobank engages new graduates

In keeping with its talent development strategy, a new set of Graduate Trainees have commenced entry level development programme at the Ecobank Nigeria Academy in Lagos, the bank has disclosed. It stated that the training which was launched in July

Negative sentiment persists, index dips further by 1.4%

Negative sentiment persists, index dips further by 1.4%

Negative sentiments continued to pervade activities on the equity sector of the Nigerian Stock Exchange (NSE) as the All-Share Index (ASI) and market capitalisation depreciated by 1.4 per cent to close the week at 26,925.29 points and N13.121 trillion respectively.

CBN’s CNY1.2b interventions and forex developments

CBN’s CNY1.2b interventions and forex developments

Averts over $178m spot pressure on reserves, exchange rate The week-long visit of President Muhammadu Buhari to the People’s Republic of China between April 11 and 15, 2016, was alongside the Governor of the Central Bank of Nigeria (CBN), Godwin

Insurance sector may lose 72% of Dangote refinery’s risk

Insurance sector may lose 72% of Dangote refinery’s risk

The nation’s insurance industry may lose 72 per cent of the insurance business in the Dangote Oil Refining company. The company, which has insured value estimated at $6.8 billion, may be overtaken by foreign operators, when it becomes operational as

Conoil shareholders approves N1.4bn dividend as coy promises higher returns

Conoil shareholders approves N1.4bn dividend as coy promises higher returns

Shareholders of Conoil Plc last Friday approved a dividend of N1.4 billion for the 2019 financial year, just as the company has expressed optimism about sustaining its tradition of delivering higher dividend. The shareholders gave the approval at the 49th

Airbus extends lead as Boeing new orders plunge 71 per cent

commercial jet manufacturer, Airbus, has stretched its lead over Boeing in aircraft deliveries, as the latter continues to be held back by the grounding of its embattled 737 Max model.  The Chicago-based Boeing, yesterday, said it delivered 19 planes in

Debt market capital to Get more Boost as FMDQ transforms

The Nigerian debt capital market is set to witness a boost following the transformation of the FMDQ OTC Securities Exchange to   a full-fledged securities exchange from an over-the-counter (OTC) market. Financial market operators, analysts and other stakeholders said that  given

We are operating at N3trn shortfall, DisCos lament

Power Distribution Companies in Nigeria (DISCOS), at the weekend,  lamented they incured a huge operational shortfall of about N3 trillion, a development that makes it difficult for them to meet their  obligation. Speaking to  Daily Sun in Abuja, the Executive Director,

Zenith Bank to assist Cross River on agricultural revolution

The efforts by Cross River State Governor, Ben Ayade, to industrialise Cross River State through its agricultural value chain policy got a major boost with the announcement of a partnership between the state government and Zenith Bank. This followed a

‘Nigeria can fight poverty if forex potential is explored’

Nigeria can reduce its level of unemployment and fight poverty if the potential in the foreign exchange (fx) market is fully explored, FX expert has said. According to them, using institutional mechanism to drive a profitable foreign exchange in the