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Exchange rate as of today Feb 23rd
It was N378 to $1 yesterday February 22nd. Its N367 to $1 as of this morning. Photo credit: Instagram @TheGuardian The post Exchange rate as of today Feb 23rd appeared first on Royal Times of Nigeria...
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NSE renews Onyema’s contract for another five-year term
The Nigerian Stock Exchange (NSE) has renewed the contract of agreement of its Chief Executive Officer, Mr Oscar Onyema, for another five-year term. This is contained in a statement issued by the...
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Harsh economy forces Ecobank to ‘sack’ 50 top managers
As a means of staying afloat amid the biting economic downturn in the country, Ecobank Nigeria Plc has sacked 50 top management staff of the bank, each of whose salaries costs the bank between N1...
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Naira appreciates further to N305/$
The naira continued its appreciation against the dollar in the parallel market Wednesday, as the parallel market exchange rate dropped further to N305 per dollar. Thus the naira has appreciated by N70...
View ArticleOil prices rise at end of volatile week
Oil prices rose Friday, with Brent reaching a near two-month high, on hopes of a deal among producers to tackle a global supply glut. The pick-up in prices this week comes after crude wallowed near...
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GTB declares N121b pre-tax profit, N52b dividend
Guaranty Trust Bank (GTB) Plc, Nigeria’s most capitalised banking stock and fourth most capitalised quoted company, yesterday announced its audited earnings report for the year ended December 31, 2015,...
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GT Bank declares N301.9bn gross earnings
Guaranty Trust Bank Plc has declared gross earnings of N301.9 billion for the financial year ended Dec. 31, 2015. The News Agency of Nigeria (NAN) reports that this was against the N278.5 billion...
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U.S to pressurize Nigeria on naira devaluation this week
The United States, U.S yesterday revealed its intention to by this week get Nigeria to adopt a more flexible foreign exchange rate to boost growth and investment in the largest economy in Africa,...
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Oil hits 2016 high of $43 a barrel
Oil reached a 2016 high, hitting 43 dollars a barrel on Tuesday, and supported by hopes that upcoming meeting of oil producers will agree on steps to tackle a supply glut. The rise was also supported...
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Buhari, Emefiele sign currency deal with China, an act to crash the US dollar
President Muhammadu Buhari and Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele moved closer to actualizing their promise to strengthen the naira against the United States dollars by signing...
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Angola overtakes Nigeria as Africa’s top oil producer
Nigeria has again lost its Africa’s top oil producer status to Angola, as the country’s crude oil production fell by 67,000 barrels per day last month, latest data from the Organisation of Petroleum...
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Nigeria loses $700m monthly on shipment of crude oil – NISA
The president, Nigeria Indigenous Ship Owners Association, NISA, Aminu Umar, said the nation was losing 700 million dollars monthly (N137.9 billion) to dominance of crude oil shipment by foreign...
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11 states recorded improved internal revenue in 2015 – NBS
The National Bureau of Statistics, NBS,has listed Ogun, Anambra, Borno, Edo, Bauchi, Abia, Kogi, Nasarawa, Niger, Taraba and Sokoto are the only states that recorded improvement in their 2014 records...
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Mohammed Balarabe appointed acting MD of Fidelity Bank
The Executive Director, North, of Fidelity Bank Plc, Mohammed Balarabe, has been named as the Acting Managing Director/Chief Executive of the bank with immediate effect, subject to regulatory approval....
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Governor Ambode appointed VP Of Commonwealth Enterprise And Investment Council
Governor Akinwunmi Ambode of Lagos State has been appointed as the Vice President of Commonwealth Enterprise and Investment Council (CWEIC), an interest group established to promote trade and...
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Zenith Bank signs $100M power sector credit facility with Agence Francaise de...
Zenith Bank Plc and French Development Agency (Agence Francaise de Development (AFD), operator of France’s bilateral development finance mechanism, have signed a US$100 Million power sector credit...
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Nigeria’s first Islamic bank, Jaiz Bank granted license by CBN
The Central Bank of Nigeria has granted license to the first Islamic Bank in Nigeria, Jaiz Bank to operate nationally. The approval was announced by the Chairman of the Bank, Umaru Mutallab at a...
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Naira appreciates against dollar
The Naira appreciated against the dollar at the parallel market on Friday, trading at N352, from N370 traded on Wednesday. The News Agency of Nigeria reports that the Nigerian currency gained N18...
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Banks move to limit over-the-counter withdrawals to N10,000
The Bankers Committee which is the umbrella body of all the chief executives of all the Deposit Money Banks in Nigeria, are proposing to limit over the counter withdrawals to N10, 000. According to the...
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Central Bank Of Nigeria announces new flexible foreign exchange regime
The Central Bank of Nigeria today announced a flexible foreign exchange regime that would see the country abolishing the dual exchange rate regime. The value of the Nigerian currency was devalued to...
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